Global Thermal Management Market size was valued at US$ 9.54 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 8.5% through 2022 to 2029, reaching nearly US$ 18.34 Bn.
Thermal Management Market Overview:
The Thermal Management market report offers a thorough analysis of the opposition, together with information on market share and company profiles for the leading foreign rivals. The scope of the study includes a full examination of the Thermal Management Market as well as the factors influencing regional variations in the growth of the sector.
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Market Scope:
After market engineering, which involved market statistics calculations, market size predictions, market projections, market breakdown, and data triangulation, was complete, extensive primary research was carried out to collect data and check and validate important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the overall market segments and sub-segments outlined in this research. In order to provide vital information throughout the study, all data collected during the market engineering process is submitted to extensive qualitative and quantitative analysis.
Drivers:
The market for thermal management is expanding as a result of the increased demand for thermal management systems and solutions across a range of end-use industries, including healthcare, automotive, aerospace, and defence. The demand for thermal management systems and solutions is rising as a result of the growing use of large and small, high power devices in the healthcare sector for therapeutic and analytical applications. These are the main driving forces that are anticipated to propel the global market’s expansion between 2022 and 2029.
Segmentation:
Conduction Cooling Devices, Convection Cooling Devices, Advanced Cooling Devices, and Hybrid Cooling Devices are the market segments based on the device. By 2029, the Convection Cooling Devices segment is anticipated to have the biggest market share. Devices for convection cooling are being used more frequently in electronic circuits and components. These devices aid in lowering the peak temperature of different components where they are located by using forced and natural convection cooling technologies. The Asia Pacific region’s expanding consumer electronics market is the primary reason for these devices’ sizable market share in that region.
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Key Players:
To identify the market’s leaders and predict market revenue, both primary and secondary research are performed. CEOs, marketing executives, and seasoned front-line employees are just a few of the significant thought leaders and subject matter experts that are included in the primary study’s in-depth interviews. As part of the primary research, extensive interviews with important thought leaders and business professionals, such as CEOs, marketing executives, and seasoned front-line staff, were conducted. As part of the secondary research, a review of the annual and financial reports of the major manufacturers was also done. Secondary data is employed to calculate percentage splits, market shares, growth rates, and global market breakdowns. The results of these calculations are then compared to primary data. The Thermal Management market is dominated by the following businesses:
• Honeywell International Inc.
• Aavid Thermalloy LLC
• Vertiv Co
• European Thermodynamics Ltd
• Master Bond Inc.
• Laird PLC
• Henkel AG & Company
• Delta Electronics, Inc.
• Advanced Cooling Technologies, Inc.
• Dau Thermal Solutions Inc.
• Amerasia International Technology Inc.
• Heatex Ab
• Lord Corporation
• Parker Chomerics
• PARKER HANNIFIN CORP
• Gentherm
• Autoneum Holding AG
• AllCell Technologies LLC.
• Thermacore, Inc.
Regional Analysis:
The regional market research analysis for Thermal Management also covers particular market driving forces and changes in market laws affecting current and future market trends. Current and upcoming trends are studied in order to evaluate the potential market as a whole and find profitable patterns to establish a better foundation. The appraisal of the geographic market is built on the basis of the current environment and expected tendencies.
COVID-19 Impact Analysis on Thermal Management Market:
Due to a halt in operations, the growth of end-user industries using Thermal Management decreased from January 2020 to May 2020. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. As a result, the market for Thermal Management manufacturers as well as the profits of companies operating in these industries both experienced a sharp decline. This had an impact on the market’s expansion in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business need for Thermal Management has been severely decreased.
Key Questions Answered in the Thermal Management Market Report are:
- Which market segment accounted for the most percentage of Thermal Management in 2021?
- How competitive is the market environment?
- What are the primary factors influencing the Thermal Management market’s growth?
- Which region dominates the Thermal Management market in terms of market share?
- What will be the market’s expected CAGR from 2022 to 2029?
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