Thermal Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Material (Adhesive Materials, Non-adhesive Materials), By End User (Automotive, Aerospace, Consumer Electronics, Servers & Data Centers, Aerospace & Defense, Healthcare), By Region, and By Competition, 2018-2028

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Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 9.86 Billion
CAGR (2023-2028)	9.72%
Fastest Growing Segment	Healthcare
Largest Market	Europe

Market Overview

The Global Thermal Management Market is undergoing dynamic growth, fueled by the escalating demand for efficient heat dissipation solutions across diverse industries. With the relentless progression of technology, particularly in sectors such as automotive, consumer electronics, and data centers, the need to manage thermal challenges has become paramount. The proliferation of electric vehicles, high-performance computing, and the emergence of edge computing are key drivers propelling the market forward. Thermal management solutions, encompassing both adhesive and non-adhesive materials, play a pivotal role in optimizing the performance and reliability of electronic components.

Europe stands out as a dominant force in this market, propelled by its commitment to sustainability, a robust industrial landscape, and stringent regulatory standards. The automotive industry's shift towards electrification, the exponential growth of data centers, and the integration of artificial intelligence in thermal management systems further contribute to the market's trajectory. Additionally, the emphasis on eco-friendly solutions and the challenges posed by increasing power densities underscore the evolving nature of the Global Thermal Management Market. As companies navigate these trends, innovation, regulatory compliance, and a focus on sustainability emerge as key factors shaping the competitive landscape.

Key Market Drivers

Rise of Electric Vehicles (EVs) and Hybrid Vehicles

The surge in demand for electric vehicles (EVs) and hybrid vehicles is a major driver propelling the Global Thermal Management Market. As the automotive industry undergoes a profound shift towards electrification, the need for efficient thermal management solutions becomes critical. Batteries and power electronics in EVs generate significant heat during operation, requiring advanced thermal management systems to ensure optimal performance and longevity. This trend not only reflects the automotive industry's commitment to sustainability but also highlights the crucial role thermal management plays in the success of electric and hybrid vehicles.

Expansion of Data Centers and Cloud Computing

The rapid expansion of data centers and the widespread adoption of cloud computing services contribute significantly to the growth of the thermal management market. Data centers, the backbone of the digital infrastructure, handle massive amounts of data, leading to increased heat generation. Effective thermal management is essential to prevent overheating, system failures, and downtime. With the growing demand for data storage and processing capabilities, the market is witnessing a heightened need for innovative thermal solutions capable of handling the heat dissipation challenges associated with high-density computing environments. As industries embrace digital transformation, the thermal management market responds to the evolving needs of data centers.

Integration of Artificial Intelligence (AI) in Thermal Management Systems

The integration of artificial intelligence (AI) in thermal management systems is a transformative driver in the market. AI-driven solutions offer predictive analytics and proactive thermal management strategies, enabling real-time monitoring and adjustment of cooling processes. These intelligent systems can identify potential thermal issues before they occur, optimizing energy consumption and enhancing the overall efficiency of thermal management. The use of AI in thermal management is particularly crucial in industries where precision and adaptability are paramount, such as data centers, automotive, and aerospace.

Proliferation of Edge Computing

The rise of edge computing, driven by the Internet of Things (IoT) and the need for real-time data processing, is a key driver shaping the thermal management market. Edge computing involves processing data closer to the source, reducing latency and improving overall system efficiency. However, this shift places additional thermal demands on the edge infrastructure. Thermal management solutions that can effectively dissipate heat in smaller, distributed computing environments are in high demand. The growth of edge computing amplifies the importance of thermal management in ensuring the reliability and performance of these decentralized computing systems.

Global Emphasis on Energy Efficiency and Sustainability

The global emphasis on energy efficiency and sustainability acts as a pervasive driver influencing thermal management solutions across industries. Stricter environmental regulations and a growing awareness of the environmental impact of industrial processes drive companies to invest in eco-friendly and energy-efficient thermal management technologies. This trend is evident in the development of materials with lower environmental footprints, the adoption of renewable energy sources for cooling processes, and the overall integration of sustainable practices in thermal management solutions. As industries align with global sustainability goals, the demand for thermal management solutions that balance performance with environmental responsibility continues to grow.

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Key Market Challenges

Increasing Power Density and Heat Dissipation Challenges

As electronic devices become more compact and powerful, the challenge of managing heat dissipation becomes more pronounced. The demand for smaller and more energy-efficient devices is driving up power density, putting a strain on thermal management systems. This challenge is particularly prevalent in industries such as automotive, consumer electronics, and data centers, where efficient heat dissipation is critical for maintaining optimal performance and preventing component failures.

Rapid Technological Advancements

The rapid pace of technological advancements poses a significant challenge for thermal management solutions. As new technologies emerge, such as 5G infrastructure, artificial intelligence, and high-performance computing, the associated increase in heat generation requires innovative thermal management strategies. Companies in the thermal management market must continually invest in research and development to stay ahead of the curve and provide solutions that can effectively address the evolving needs of various industries.

Environmental and Regulatory Pressures

With a growing emphasis on sustainability and environmental consciousness, thermal management solutions face challenges related to their environmental impact. Many traditional cooling methods involve the use of materials with significant environmental consequences. Additionally, stringent regulations regarding energy efficiency and emissions further complicate the development and adoption of thermal management technologies. Companies operating in this market must navigate these regulatory landscapes and invest in eco-friendly solutions to align with global sustainability goals.

Global Supply Chain Disruptions

The thermal management market is not immune to the challenges posed by global supply chain disruptions. The industry relies on a complex network of suppliers for materials, components, and manufacturing processes. Factors such as geopolitical tensions, natural disasters, and the ongoing impacts of the COVID-19 pandemic can disrupt the supply chain, leading to shortages and increased costs. Managing these uncertainties and building resilient supply chain strategies are essential for companies in the thermal management sector.

Cost Constraints and Price Competition

As the demand for thermal management solutions rises, the market experiences intensified price competition. Cost constraints pose a significant challenge for companies looking to offer competitive products without compromising on quality. Balancing the need for cost-effective solutions with maintaining high-performance standards requires strategic decision-making. Companies must focus on optimizing production processes, exploring cost-effective materials, and establishing efficient distribution channels to remain competitive in the market.

Key Market Trends

Rising Demand for Electric Vehicles (EVs) and Hybrid Vehicles

The global push towards sustainable transportation is a major trend influencing the thermal management market. With the increasing adoption of electric vehicles (EVs) and hybrid vehicles, there is a growing need for efficient thermal management systems to ensure optimal performance and longevity of batteries. The ability to regulate temperatures in batteries and power electronics is critical for enhancing overall vehicle efficiency and addressing range anxiety concerns. As the automotive industry continues its shift towards electrification, the demand for advanced thermal management solutions is expected to surge.

Proliferation of Data Centers

The exponential growth of data-driven technologies and the ongoing digital transformation across industries have led to a significant increase in the construction of data centers. These data hubs house vast amounts of electronic equipment, generating substantial heat that must be effectively managed to prevent system failures and downtime. The thermal management market is witnessing a surge in demand for solutions capable of handling the heat dissipation challenges associated with high-density data centers. Innovations in cooling technologies, such as liquid cooling systems, are becoming increasingly popular to address the unique thermal demands of these facilities.

Emergence of Edge Computing

The rise of edge computing, driven by the Internet of Things (IoT) and the need for real-time data processing, is another key trend shaping the thermal management market. Edge computing involves processing data closer to the source, reducing latency and improving overall system efficiency. However, this shift places additional thermal demands on the edge infrastructure. Thermal management solutions that can effectively dissipate heat in smaller, distributed computing environments are in high demand. Companies in the thermal management market are investing in innovations to address the unique challenges posed by edge computing applications.

Integration of Artificial Intelligence (AI) in Thermal Management

The integration of artificial intelligence (AI) and machine learning (ML) technologies is transforming thermal management systems. AI algorithms can analyze real-time data from sensors and predict potential thermal issues before they occur. This predictive capability allows for proactive and efficient thermal management, optimizing energy consumption and extending the lifespan of electronic components. The use of AI-driven thermal management solutions is becoming a competitive differentiator in the market as companies strive to offer intelligent and adaptive systems.

Focus on Sustainable and Eco-Friendly Solutions

Environmental sustainability is a growing concern across industries, and the thermal management market is no exception. There is a notable trend towards developing eco-friendly and energy-efficient thermal management solutions. This includes the use of materials with lower environmental impact, the adoption of renewable energy sources for cooling processes, and the implementation of energy-efficient cooling technologies. Companies are increasingly emphasizing the importance of sustainability in their product offerings to align with global environmental goals and meet the demands of environmentally conscious consumers.

Segmental Insights

Material Insights

Adhesive materials segment dominates in the global Thermal Management market in 2022. Adhesive materials have emerged as a dominant force in the thermal management landscape. The adhesive segment includes a range of materials such as thermal adhesives, tapes, and encapsulants, which are instrumental in enhancing the thermal conductivity and reliability of electronic components. The adhesive properties facilitate direct contact between heat-generating components and heat sinks, ensuring efficient heat transfer and dissipation. This is particularly crucial in industries like electronics, automotive, and telecommunications, where compact designs and increased power densities necessitate effective thermal management.

The electronics industry, a significant contributor to the thermal management market, heavily relies on adhesive materials. As electronic devices become smaller and more powerful, the need for reliable and compact thermal solutions grows exponentially. Thermal adhesives, in particular, provide an efficient means of bonding heat-generating components to heat sinks or other cooling structures, ensuring optimal thermal conductivity and heat dissipation. The adhesive nature of these materials allows for improved contact between surfaces, minimizing thermal resistance and enhancing the overall performance of electronic devices.

Moreover, the automotive sector, with its increasing focus on electric and hybrid vehicles, further propels the dominance of adhesive materials. Thermal adhesives play a vital role in securing and cooling batteries, power electronics, and electric motors in these vehicles. The adhesive bond ensures not only effective heat transfer but also provides structural stability, addressing the dual challenge of thermal management and mechanical integrity.

End User Insights

Servers & Data Centers segment dominates in the global Thermal Management market in 2022. Servers and data centers serve as the backbone of the digital infrastructure, facilitating the storage, processing, and dissemination of vast amounts of data. As these facilities continue to evolve, embracing higher computational capabilities and processing speeds, the associated heat generation has intensified exponentially. This has catapulted thermal management to the forefront of priorities for the server and data center industry, making it a pivotal driving force in the overall thermal management market.

The server and data centers segment's dominance can be attributed to several factors. First and foremost is the sheer scale of data processing within these facilities. The relentless demand for faster and more powerful servers to handle complex computations and data analytics has led to an escalation in heat dissipation challenges. Effective thermal management is imperative to prevent overheating, system failures, and downtime, which can have significant economic and operational repercussions.

Additionally, the increasing adoption of cloud computing services, edge computing, and the proliferation of hyperscale data centers further accentuate the significance of thermal management in this sector. Hyperscale data centers, in particular, operate on an enormous scale, hosting an extensive network of servers and computing infrastructure. Managing the thermal dynamics in such expansive environments requires sophisticated and scalable thermal solutions, reinforcing the dominance of thermal management in the server and data center segment.

Furthermore, the server and data center industry's commitment to energy efficiency and sustainability has propelled the adoption of innovative thermal management technologies. Companies operating in this sector are investing in advanced cooling solutions, including liquid cooling systems, heat exchangers, and other cutting-edge technologies, to optimize energy consumption and reduce the environmental impact of heat dissipation.

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Regional Insights

Europe dominates the Global Thermal Management Market in 2022. Firstly, Europe has been a pioneer in embracing and driving sustainable practices across industries. With an increasing emphasis on environmental consciousness, European companies are actively seeking thermal management solutions that not only meet performance requirements but also adhere to stringent environmental standards. This focus on sustainability aligns with the global shift towards eco-friendly technologies, giving European companies a competitive edge in the market.
Secondly, the automotive industry in Europe has been a significant driver of thermal management solutions. As the region experiences a surge in the demand for electric vehicles (EVs) and hybrid vehicles, the need for advanced thermal management systems to regulate temperatures in batteries and power electronics has grown substantially. European automotive manufacturers and suppliers are at the forefront of developing cutting-edge thermal management technologies to address the unique challenges posed by the electrification of vehicles.
Additionally, Europe has a well-established and diverse industrial landscape, including sectors like manufacturing, aerospace, and data centers, all of which have high thermal management requirements. The region's industrial leaders prioritize the implementation of efficient thermal management solutions to ensure the reliability and longevity of their equipment. This creates a robust demand for thermal management technologies across a wide range of applications, further contributing to Europe's dominance in the global market.

Recent Developments

July 2023: Mahle, a supplier to the automotive industry, and ProLogium, a producer of solid-state battery cells in Taiwan, have joined forces to create and assess thermal management solutions for the next-generation solid-state batteries. The businesses have agreed to work together on this project by signing letter of intent. The development of battery systems with higher efficiency, service life, energy density, and fast-charging capabilities is the main objective of this alliance. However, examining how these batteries age will also receive considerable attention. Mahle stresses the significance of taking into account the battery's effectiveness, cost, and ageing evaluations since these elements are essential for the widespread use of electric cars and the upcoming second-hand market.
July 2023: The new iTMM (integrated Thermal Management Module) from Marelli is now available for electric cars. It makes it possible to effectively combine the many thermal circuits of the car into a one component to provide a more effective thermal management system, thereby enhancing driving range, safety, and flexibility. With the use of a clever valve design, the module modularizes water-cooled heat exchangers like the chiller/water-cooled condenser. The Marelli iTMM integrates the three systems, utilizing their synergies and exchanging components to provide efficient energy management. This integrated valve regulates up to 6 channel combinations.
June 2023: At its annual Global Technology Day event, the technology giant ZF recently announced its in-house thermal management system for the electric vehicles (EVs). With this technique, EV range in the winter might be increased by about one-third. It has an improved electric drivetrain with power electronics, motor, and an 800-volt silicon carbide-based reduction gearbox. The business claims that this cutting-edge solution raises the bar for weight and compactness while increasing efficiency thanks to freshly created powertrain software. The modular architecture of thermal management system allows automakers to incorporate it into their cars in a variety of ways.

Key Market Players

Honeywell International Inc.
Parker Hannifin Corporation
Advanced Cooling Technologies Inc.
Gentherm Incorporated
Autoneum Holding AG
Vertiv Co
Delta Electronics, Inc.
Denso Corporation
Valeo
Mahle GmbH

By Material	By End User	By Region
Adhesive Materials Non-adhesive Materials	Automotive Aerospace Consumer Electronics Servers & Data Centers Aerospace & Defense Healthcare	North America Europe South America Middle East & Africa Asia Pacific

Report Scope:

In this report, the Global Thermal Management Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

· Thermal Management Market, By Material:

o Adhesive Materials

o Non-adhesive Materials

· Thermal Management Market, By End User:

o Automotive

o Aerospace

o Consumer Electronics

o Servers & Data Centers

o Aerospace & Defense

o Healthcare

· Thermal Management Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ Germany

§ France

§ United Kingdom

§ Italy

§ Spain

o South America

§ Brazil

§ Argentina

§ Colombia

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Australia

o Middle East & Africa

§ Saudi Arabia

§ UAE

§ South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Thermal Management Market.

Available Customizations:

Global Thermal Management Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Thermal Management Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Service Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3. Executive Summary

4. Impact of COVID-19 on Global Thermal Management Market

5. Voice of Customer

6. Global Thermal Management Market Overview

7. Global Thermal Management Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Material (Adhesive Materials, Non-adhesive Materials)

7.2.2. By End User (Automotive, Aerospace, Consumer Electronics, Servers & Data Centers, Aerospace & Defense, Healthcare)

7.2.3. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3. By Company (2022)

7.4. Market Map

8. North America Thermal Management Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Material

8.2.2. By End User

8.2.3. By Country

8.2.3.1. United States Thermal Management Market Outlook

8.2.3.1.1. Market Size & Forecast

8.2.3.1.1.1. By Value

8.2.3.1.2. Market Share & Forecast

8.2.3.1.2.1. By Material

8.2.3.1.2.2. By End User

8.2.3.2. Canada Thermal Management Market Outlook

8.2.3.2.1. Market Size & Forecast

8.2.3.2.1.1. By Value

8.2.3.2.2. Market Share & Forecast

8.2.3.2.2.1. By Material

8.2.3.2.2.2. By End User

8.2.3.3. Mexico Thermal Management Market Outlook

8.2.3.3.1. Market Size & Forecast

8.2.3.3.1.1. By Value

8.2.3.3.2. Market Share & Forecast

8.2.3.3.2.1. By Material

8.2.3.3.2.2. By End User

9. Europe Thermal Management Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Material

9.2.2. By End User

9.2.3. By Country

9.2.3.1. Germany Thermal Management Market Outlook

9.2.3.1.1. Market Size & Forecast

9.2.3.1.1.1. By Value

9.2.3.1.2. Market Share & Forecast

9.2.3.1.2.1. By Material

9.2.3.1.2.2. By End User

9.2.3.2. France Thermal Management Market Outlook

9.2.3.2.1. Market Size & Forecast

9.2.3.2.1.1. By Value

9.2.3.2.2. Market Share & Forecast

9.2.3.2.2.1. By Material

9.2.3.2.2.2. By End User

9.2.3.3. United Kingdom Thermal Management Market Outlook

9.2.3.3.1. Market Size & Forecast

9.2.3.3.1.1. By Value

9.2.3.3.2. Market Share & Forecast

9.2.3.3.2.1. By Material

9.2.3.3.2.2. By End User

9.2.3.4. Italy Thermal Management Market Outlook

9.2.3.4.1. Market Size & Forecast

9.2.3.4.1.1. By Value

9.2.3.4.2. Market Share & Forecast

9.2.3.4.2.1. By Material

9.2.3.4.2.2. By End User

9.2.3.5. Spain Thermal Management Market Outlook

9.2.3.5.1. Market Size & Forecast

9.2.3.5.1.1. By Value

9.2.3.5.2. Market Share & Forecast

9.2.3.5.2.1. By Material

9.2.3.5.2.2. By End User

10. South America Thermal Management Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Material

10.2.2. By End User

10.2.3. By Country

10.2.3.1. Brazil Thermal Management Market Outlook

10.2.3.1.1. Market Size & Forecast

10.2.3.1.1.1. By Value

10.2.3.1.2. Market Share & Forecast

10.2.3.1.2.1. By Material

10.2.3.1.2.2. By End User

10.2.3.2. Colombia Thermal Management Market Outlook

10.2.3.2.1. Market Size & Forecast

10.2.3.2.1.1. By Value

10.2.3.2.2. Market Share & Forecast

10.2.3.2.2.1. By Material

10.2.3.2.2.2. By End User

10.2.3.3. Argentina Thermal Management Market Outlook

10.2.3.3.1. Market Size & Forecast

10.2.3.3.1.1. By Value

10.2.3.3.2. Market Share & Forecast

10.2.3.3.2.1. By Material

10.2.3.3.2.2. By End User

11. Middle East & Africa Thermal Management Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Material

11.2.2. By End User

11.2.3. By Country

11.2.3.1. Saudi Arabia Thermal Management Market Outlook

11.2.3.1.1. Market Size & Forecast

11.2.3.1.1.1. By Value

11.2.3.1.2. Market Share & Forecast

11.2.3.1.2.1. By Material

11.2.3.1.2.2. By End User

11.2.3.2. UAE Thermal Management Market Outlook

11.2.3.2.1. Market Size & Forecast

11.2.3.2.1.1. By Value

11.2.3.2.2. Market Share & Forecast

11.2.3.2.2.1. By Material

11.2.3.2.2.2. By End User

11.2.3.3. South Africa Thermal Management Market Outlook

11.2.3.3.1. Market Size & Forecast

11.2.3.3.1.1. By Value

11.2.3.3.2. Market Share & Forecast

11.2.3.3.2.1. By Material

11.2.3.3.2.2. By End User

12. Asia Pacific Thermal Management Market Outlook

12.1. Market Size & Forecast

12.1.1. By Value

12.2. Market Size & Forecast

12.2.1. By Material

12.2.2. By End User

12.2.3. By Country

12.2.3.1. China Thermal Management Market Outlook

12.2.3.1.1. Market Size & Forecast

12.2.3.1.1.1. By Value

12.2.3.1.2. Market Share & Forecast

12.2.3.1.2.1. By Material

12.2.3.1.2.2. By End User

12.2.3.2. India Thermal Management Market Outlook

12.2.3.2.1. Market Size & Forecast

12.2.3.2.1.1. By Value

12.2.3.2.2. Market Share & Forecast

12.2.3.2.2.1. By Material

12.2.3.2.2.2. By End User

12.2.3.3. Japan Thermal Management Market Outlook

12.2.3.3.1. Market Size & Forecast

12.2.3.3.1.1. By Value

12.2.3.3.2. Market Share & Forecast

12.2.3.3.2.1. By Material

12.2.3.3.2.2. By End User

12.2.3.4. South Korea Thermal Management Market Outlook

12.2.3.4.1. Market Size & Forecast

12.2.3.4.1.1. By Value

12.2.3.4.2. Market Share & Forecast

12.2.3.4.2.1. By Material

12.2.3.4.2.2. By End User

12.2.3.5. Australia Thermal Management Market Outlook

12.2.3.5.1. Market Size & Forecast

12.2.3.5.1.1. By Value

12.2.3.5.2. Market Share & Forecast

12.2.3.5.2.1. By Material

12.2.3.5.2.2. By End User

13. Market Dynamics

13.1. Drivers

13.2. Challenges

14. Market Trends and Developments

15. Company Profiles

15.1. Honeywell International Inc.

15.1.1. Business Overview

15.1.2. Key Revenue and Financials

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. Key Product/Services Offered

15.2. Parker Hannifin Corporation

15.2.1. Business Overview

15.2.2. Key Revenue and Financials

15.2.3. Recent Developments

15.2.4. Key Personnel

15.2.5. Key Product/Services Offered

15.3. Advanced Cooling Technologies Inc.

15.3.1. Business Overview

15.3.2. Key Revenue and Financials

15.3.3. Recent Developments

15.3.4. Key Personnel

15.3.5. Key Product/Services Offered

15.4. Gentherm Incorporated

15.4.1. Business Overview

15.4.2. Key Revenue and Financials

15.4.3. Recent Developments

15.4.4. Key Personnel

15.4.5. Key Product/Services Offered

15.5. Autoneum Holding AG

15.5.1. Business Overview

15.5.2. Key Revenue and Financials

15.5.3. Recent Developments

15.5.4. Key Personnel

15.5.5. Key Product/Services Offered

15.6. Vertiv Co

15.6.1. Business Overview

15.6.2. Key Revenue and Financials

15.6.3. Recent Developments

15.6.4. Key Personnel

15.6.5. Key Product/Services Offered

15.7. Delta Electronics, Inc.

15.7.1. Business Overview

15.7.2. Key Revenue and Financials

15.7.3. Recent Developments

15.7.4. Key Personnel

15.7.5. Key Product/Services Offered

15.8. Denso Corporation

15.8.1. Business Overview

15.8.2. Key Revenue and Financials

15.8.3. Recent Developments

15.8.4. Key Personnel

15.8.5. Key Product/Services Offered

15.9. Valeo

15.9.1. Business Overview

15.9.2. Key Revenue and Financials

15.9.3. Recent Developments

15.9.4. Key Personnel

15.9.5. Key Product/Services Offered

15.10.Mahle GmbH

15.10.1. Business Overview

15.10.2. Key Revenue and Financials

15.10.3. Recent Developments

15.10.4. Key Personnel

15.10.5. Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the global thermal management market in 2022?

The market size of the global thermal management market was USD 9.86 Billion in 2022.

Which was the dominant segment in the global thermal management market in 2022, by material?

Adhesive Materials was the dominant segment in the global thermal management market in 2022 by material.

What are the challenges in the global thermal management market?

The challenges in the global thermal management market include increasing power density and heat dissipation challenges, rapid technological advancements, environmental and regulatory pressures, global supply chain disruptions, etc.

What are the major drivers for the global thermal management market?

The major drivers for the global thermal management market include rise of electric vehicles (EVs) and hybrid vehicles, expansion of data centers and cloud computing, integration of artificial intelligence (AI) in thermal management systems, proliferation of edge computing, etc.

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Parvati Sharma

Account Manager BD

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Press Release

Global Thermal Management Market Expands with Adhesive Materials Segment at a robust CAGR of 9.72%

Jan, 2024

The increasing global thermal management market is driven by rise of electric vehicles (EVs) and hybrid vehicles, expansion of data centers and cloud computing during the forecast period 2024-2028.