Global Thermal Management Technologies Industry Report 2023-2030: Cooling Innovation Reigns - Advanced Cooling Devices Steer Market Growth

DUBLIN, Sept. 6, 2023 /PRNewswire/ -- The "Thermal Management Technologies Market Analysis by Material Type, Device Type, Services, End User - Global Industry Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The thermal management technologies market is poised for significant growth, projected to reach a substantial value of USD 22,862.1 million by 2030, showcasing a robust growth rate of 10.3% throughout the next decade.

The driving forces behind this surge are manifold, prominently including the escalating demand for electronic devices across diverse industries like healthcare, where precise temperature control solutions are imperative. Furthermore, the necessity for compact electronic devices is a pivotal factor propelling the adoption of thermal management solutions.

In terms of material type, the adhesive material category is set to witness robust growth in the upcoming years. The demand for such materials stems from the shrinking size of electronic devices, both within electronics and medical apparatus, generating significant heat that can trigger malfunction. These adhesive materials are engineered to optimize the performance, reliability, and longevity of electronic devices by effectively dissipating heat. Thermal adhesive films emerge as the preferred choice for bonding intricate components.

Within this landscape, advanced cooling devices dominated revenue in 2022 and are poised to sustain this trend with the highest growth rate. The trend is attributed to the increasing integration of cutting-edge cooling techniques like direct-immersion cooling in data centers, microchannel cooling, and impingement jet cooling in consumer electronics.

Moreover, these innovative cooling technologies find application in the healthcare sector. An illustrative example is the esophageal cooling device, a silicon tube with lumens placed in the esophagus, used for temperature regulation in patients while ensuring access to the stomach for gastric decompression and drainage.

In terms of service, optimization, and post-sales support are expected to experience the highest growth rate. A robust post-sales process not only ensures customer satisfaction but also provides valuable insights to manufacturers for product enhancement. With 1.75 million AC units sold in India in 2022, servicing and repairs will be crucial.

The Asia-Pacific (APAC) region held the major market share of approximately 35% in 2022 and is set to continue its growth trajectory at a robust pace. Factors such as increasing adoption of heat dissipation solutions in the healthcare sector, specifically for e-medical devices, along with rapid urbanization, industrialization, presence of key market players, and government initiatives for EV charging station installation collectively drive the industry's expansion.

Given the growing needs across various sectors, the demand for thermal management technologies is expected to witness sustained growth in the foreseeable future.

Companies Mentioned

• Parker-Hannifin Corporation
• Siemens AG
• Boyd Corporation
• Henkel AG & Co. KGaA
• Honeywell International Inc
• European Thermodynamics Ltd
• Gentherm Incorporated
• Autoneum Holding Ltd
• Robert Bosch GmbH
• Laird Thermal Systems, Inc
• Outlast Technologies GmbH
• Pentair plc
• Thermal Management Technologies
• All Cell Technologies, LLC
• ANSYS, Inc

For more information about this report visit https://www.researchandmarkets.com/r/rl45cf

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