Thermal Management Technologies Market To Reach $27.75 Billion By 2030

Thermal Management Technologies Market Growth & Trends

The global thermal management technologies market size is expected to reach USD 27.75 billion by 2030, registering a CAGR of 10.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The industry is primarily driven by the growth in the emerging trend of miniaturization of electronic devices and components.

Developments in the electronics industry have culminated in a considerable surge in the power densities, which have led to the introduction of smaller, smarter products. These advancements in the industry have led to an increased need for innovative thermal management technologies as they improve the system performance and reliability by avoiding the heat generated by the devices. The electronic packaging trend has increased the performance and reduced the size of the product. This has led to a significant increase in the power consumption of the system.

Advanced technological research is expected to produce more efficient and cost-effective thermal management solutions in the future. The key industry participants are extensively focusing on the development of optimized thermal management solutions that are cost-effective and are applicable across a range of end-use applications. However, the industry is anticipated to witness various issues associated with modularity in designing and reliability of modeling, which are presumed to challenge the growth over the forecast period.

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Thermal Management Technologies Market Report Highlights

• Adhesive material dominated the market and accounted for a share of 59.4% in 2023. As electronic devices become more powerful and compact, there is a growing need for high-performance adhesive materials that can effectively manage heat dissipation.

• Conduction cooling device accounted for the largest market revenue share in 2023. Data centers and high-performance computing (HPC) systems house dense clusters of servers and processors that generate significant amounts of heat.

• Installation & calibration accounted for the largest market revenue share in 2023. The increasing complexity of modern thermal management systems necessitates specialized expertise for proper installation and calibration.

• Consumer electronics segment dominated the market in 2023 due to the progress in the electronics sector. The increasing demand for smaller and more powerful electronic devices has led to higher heat generation within these products.

• North America thermal management technologies market accounted for the largest revenue share of 33.3% in 2023.

Thermal Management Technologies Market Segmentation

Grand View Research has segmented the global thermal management technologies market on the basis of on material, device, service, end-use, and region:

Thermal Management Technologies Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Adhesive Material

• Non-adhesive Material

Thermal Management Technologies Device Outlook (Revenue, USD Billion, 2018 - 2030)

• Conduction Cooling Device

• Convention Cooling Device

• Advance Cooling Device

• Others

Thermal Management Technologies Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Installation & Calibration

• Optimization & Post Sales Service

Thermal Management Technologies End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Consumer Electronics

• Service & Data Centers

• Automotive

• Healthcare

• Others

Thermal Management Technologies Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

  • UAE

  • South Africa

List of Key Players in the Thermal Management Technologies Market

• Advanced Cooling Technologies, Inc.

• Delta Electronics, Inc.

• Honeywell International Inc.

• Siemens AG

• STMicroelectronics

• Fujikura Ltd.

• Boyd Corporation

• Aavid Thermalloy, LLC

• Vertiv Holdings Co

• Wakefield-Vette, Inc.