Thermal Management Technologies Market:
Growth opportunities in the thermal management technologies market look promising over the next six years. This is mainly due to their growing use in the electronics sector because of more processing ability, increasing industrialization, and constant growth in technology.
Thermal Management Technologies Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the most significant drivers propelling the growth of the global thermal management technologies market is the surging deployment of electronic devices across healthcare, automotive, and aerospace & defence sectors because of their larger processing ability. Also, the key producers are largely choosing for non-resistant cooling technologies in their devices like a smartphone. For example, Realme X50 Pro Player, in 2020, launched the low-priced edition of Realme X50 Pro. Moreover, the ongoing boost in these technologies is attributed to the growing application of interfaces in automated assembly. The interfaces are accounted as the major hear dissipation offerings, primarily in electronic devices. As per the thermal management technologies market analysis, the increasing acquisition of renewable sources of energy, along with the rapid industrialization, which has raised the power supply need, are strengthening the market growth. However, the technical concerns concerned with the system level and components like geographical and temporal changes in the heat load, acoustic noise emission, and heat effect on transistor operations will curb the thermal management technologies market size.
Product Type Segment Drivers
Based on the product type, the hardware is expected to witness a higher CAGR during the forecast period. This is primarily because of the expanding production of miniaturized microprocessors. In addition to this, the increasing execution of heat removal solutions in high-volume commodity systems will further supplement the market growth. Producers’ emphasis leads the increase in the implementation of hardware to reduce energy consumption and carbon footprints.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to expand at a higher CAGR during the forecast period. This is owing to the accelerating adoption of heat dissipation solutions to fuel heat dissipation in electronics. Also, governments of various countries are introducing plans and strategies to intensify the endorsement of renewable energy sources, which is promoting market growth. China’s Ministry of Finance, in 2020, started the country’s renewable power subsidy for 2021 at 5.95 billion for wind farms, biomass power generators, and solar power operators.
Thermal Management Technologies Market’s leading Manufacturers:
- SAPA S.p.A.
- Momentive
- Honeywell International Inc.
- Miba AG
- Advanced Cooling Technologies
- Pentair
- Laird
- Heatex
- ALE International
- Boyd Corporation
Thermal Management Technologies Market Segmentation:
Segmentation by Product Type
- Hardware
- Software
- Interface
- Substrate
Segmentation by Applications
- Computers
- Consumer Electronics
- Telecommunication
- Automotive Electronics
- Renewable Energy
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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