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Thermal Management Market by Material (Adhesives, Nonadhesive), Device (Conduction, Convection, Advanced, and Hybrid), Thermal Management Service, End-Use Industry, and Region - Global Forecast to 2024

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  • 181 Pages
  • July 2019
  • Region: Global
  • Markets and Markets
  • ID: 4808171

The overall thermal management market is expected to grow at a CAGR of 8% from 2019 to 2024

Major factors driving the thermal management market include the rising demand for effective thermal management solutions & systems in consumer electronics, increasing use of electronic devices in different end-use industries, and ongoing radical miniaturization of electronic devices. Further, the amount of heat generated from automobiles through engine, battery, brake, and lighting gives rise to the necessity of integrating proper thermal solutions.

The nonadhesive thermal management material market is expected to hold the largest share during the forecast period

Nonadhesive materials such as thermal pads, gap fillers, and grease are used widely in consumer electronics such as computers, laptops, and other handheld devices such as tablets. Thermal pads are used to fill the gaps between heat sinks and microprocessors. They eliminate air gaps to reduce thermal resistance and provide low-stress vibration dampening. Elastomeric pads were developed as an alternative to grease-based solutions used earlier for thermal management.

The convection cooling devices is expected to hold the largest share of the thermal management market during the forecast period

Convection cooling devices are increasingly being used in electronic components, electronic circuits, and PCBs. These devices help lower the peak temperature of different systems wherein they are installed with natural and forced convection cooling technologies. Devices such as loop heat pipes, heat pumps, heat sinks, and heat spreaders are used for effective cooling of processors and computers, among others.

The market for the automotive industry is expected to witness the highest growth from 2019 to 2024

The growth of this segment can be attributed to the increasing demand for thermal management solutions and systems in automobiles, owing to the downsizing of their engines to improve their fuel efficiency. Moreover, the deployment of navigation systems, dashboard displays, audio systems, etc. in automobiles is also increasing the consumption of battery power. Excessive use of batteries generates heat, which needs to be dissipated through proper conduction and shielding. Hence, thermal management of batteries is critical to maintain the safety standards and improve the overall life of automobiles.

APAC is likely to witness the highest growth during the forecast period

The region has emerged as a global focal point for large investments and business expansion opportunities. Moreover, increasing demand for effective thermal management solutions and systems from consumer electronics, automotive, defense, and healthcare sectors is also fueling the growth of the thermal management market in APAC. Flourishing chip manufacturing companies in countries such as China and South Korea are contributing to the growth of the thermal management market in APAC. The region holds a major position in the global semiconductor chip manufacturing industry with China, Japan, South Korea, and Taiwan.

Break-up of the profiles of primary participants:

  • By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
  • By Designation: Directors – 35%, C-Level Executives – 25%, and Others – 40%
  • By Region: North America – 45%, Europe – 30%, APAC – 20%, and RoW – 5%

A few thermal management ecosystem players are as follows: Honeywell International Inc. (US), Aavid Thermalloy LLC. (US), Vertiv Co. (US), European Thermodynamics Ltd. (UK), and Master Bond Inc. (US).

Research Coverage:

This research report segments the global thermal management market based on material, device, service, end-use industry, and region. The report discusses major drivers, restraints, challenges, and opportunities pertaining to the thermal management market and also includes the value chain. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall thermal management market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.


Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Market Covered
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data Secondary Sources
2.1.2 Primary Data Primary Sources Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
3 Executive Summary4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Value Chain Analysis
6 Thermal Management Market, By Materials
6.1 Introduction
6.2 Adhesive Materials
6.2.1 Tapes
6.2.2 Films Thermally Conductive Electronically Conductive
6.2.3 Adhesive Liquids Heat Cure Room Temperature Cure
6.3 Non- Adhesive Materials
6.3.1 Pads Electrically Insulating (if data available) Non Electrically insulating (if data available)
6.3.2 Gap Fillers
6.3.3 Phase Change Materials
6.3.4 Greases
7 Thermal Management Market, By Devices
7.1 Introduction
7.2 Conduction Cooling Devices
7.2.1 Wedge locks
7.2.2 Potting
7.3 Convection Cooling Devices (passive and active)
7.3.1 Heat Sink
7.3.2 Heat Spreaders
7.3.3 Forced Air and Natural Cooling Devices
7.3.4 Heat Pumps
7.4 Advanced Cooling Devices
7.4.1 Direct Immersion Cooling
7.4.2 Microchannel Cooling
7.4.3 Cold Plates
7.4.4 Other (Cryogenic Cooling, Refrigerant Cooling, and Spray Cooling)
7.5 Hybrid Cooling Devices
7.5.1 Electrowetting
7.5.2 Spot Coolers
7.5.3 Vapour Chambers
7.5.4 Compact Heat Exchangers
7.5.5 Thermoelectric Cooling
7.5.6 Other (Jet impingement cooling, Heat superconductors)
8 Thermal Management Market, By Service
8.1 Introduction

8.2 Installation and Calibration

8.3 Optimization and Post-Sales Support
9 Thermal Management Market, By End-Use Application
9.1 Aerospace & Defense
9.2 Automotive
9.2.1 Battery Thermal Management Hybrid Vehicle Plug-In Electric Vehicle
9.2.2 Engine Control Thermal Management
9.2.3 Waste Heat Recovery and Emissions Reduction
9.2.4 Brake and Suspension Cooling Systems
9.2.5 Seat Heating and Cooling
9.2.6 Automotive LED Lighting System
9.3 Servers and Data Centers
9.4 Consumer Electronics
9.4.1 Laptop and Computer
9.4.2 Audio amplifier components
9.4.3 Home Appliances (TV, Fridge, Washing Machine, Blender, Oven, etc.)
9.4.4 Power supplies
9.4.5 Gaming Devices
9.4.6 Mobile phones
9.5 Healthcare
9.5.1 Large Infrastructure Equipment
9.5.2 Portable Equipment
10 Thermal Management Market, Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Rest of Europe
10.4 APAC
10.4.1 Japan
10.4.2 China
10.4.3 South Korea
10.4.4 India
10.4.5 Rest of APAC
10.5 RoW
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis
11.3 Competitive Situation and Trends
11.4 Competitive Leadership Mapping
11.4.1 Visionary Leaders
11.4.2 Dynamic Differentiators
11.4.3 Innovators
11.4.4 Emerging Companies
12 Company Profiles
12.1 Aavid Thermalloy
12.2 European Thermodynamics
12.3 Advanced Cooling Technologies
12.4 DAU Thermal Solutions
12.5 Amerasia International (AI) Technology
12.6 Honeywell International
12.7 Heatex AB
12.8 Laird
12.10 Henkel AG
12.11 Master Bond
12.12 Parker (Chomerics)
12.13 Delta Electronics
12.14 Danfoss
12.15 Vertiv Co.
12.16 Gentherm
12.17 Kelvion Holdings
12.18 API Heat Transfer
12.19 Thermotek Inc.
12.20 Jaro Thermal



Executive Summary

Companies Mentioned

  • Aavid Thermalloy
  • Advanced Cooling Technologies
  • Amerasia International (AI) Technology
  • API Heat Transfer
  • Danfoss
  • DAU Thermal Solutions
  • Delta Electronics
  • European Thermodynamics
  • Gentherm
  • Heatex AB
  • Henkel AG
  • Honeywell International
  • Jaro Thermal
  • Kelvion Holdings
  • Laird
  • Master Bond
  • Parker (Chomerics)
  • Thermotek Inc.
  • Vertiv Co.