Thermal Management Technologies Market Will Touch USD 22,862.1 Million Value by 2030, Says P&S Intelligence

NEW YORK, July 4, 2023 /PRNewswire/ -- According to P&S Intelligence, the global thermal management technologies market is expected to be worth USD 22,862.1 million by 2030, advancing at a CAGR of 10.3%. This can be ascribed to the rising demand for electrical equipment in several industries, coupled with the surging requirement for temperature control solutions in them.

Furthermore, the growing demand for small electronic devices is the main reason propelling the acceptance of thermal management solutions.

5G Devices Depend on Heat Dissipation for Longevity

During the forecast period, the utilization of 5G smartphones will surge massively, which will produce a great opportunity for thermal management system companies. More high-energy components are packed in compact spaces in devices that form part of the 5G infrastructure. This indicates more power usage, which, ultimately, results in the production of more heat.

Overheated equipment can experience performance deprivation or loss, which might lead to network issues, downtimes, and outages. Thus, the installation of heat dissipation systems is essential to keep the equipment from heat-initiated harm and, ultimately, prevent network failure.

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Adhesive Material Will Experience Significant Growth in Usage   

During the projection period, on the basis of material type, the adhesive material category is projected to experience significant development. The requirement for this material is propelled by the fact that the ever-shrinking energy-consuming parts inside medical and electronic devices produce considerable quantities of heat, which can cause malfunctioning.

Such materials are made to advance the dependability, performance, and durability of electronic devices, by reducing heat. When there is a need to connect intricate components, thermal adhesive films are favored.

Optimization & Post-Sales Support Demand To Grow Fastest Pace 

On the basis of service, optimization & post-sales support are set to experience the highest CAGR. An effective post-sales procedure guarantees the client's satisfaction. Moreover, it permits the producer to know where a particular item will sell and where it requires enhancement. In 2022, as per an article, 1.75 million AC units were bought in India, which will now need servicing and repairs.

Browse detailed report on Thermal Management Technologies Market Share, Growth and Demand Forecast to 2030

APAC Has Highest Demand for Heating Control Technologies

In 2022, APAC dominated the industry with an approximately 35% share, and the region is also projected to advance at the highest CAGR. This is because of the growing need for heat reduction solutions in the healthcare industry, mainly in electronic medical devices.

Moreover, the growing urbanization and industrialization rates, the existence of major industry players, and the government steps for deploying electric vehicle charging stations are fueling the development of the industry in the APAC region.

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SOURCE P&S Intelligence