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Thermal Management Market with COVID-19 impact Analysis by Material, Device (Conduction, Convection, Advanced, and Hybrid), Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region - Global Forecast to 2025

  • ID: 5135139
  • Report
  • July 2020
  • Region: Global
  • 243 Pages
  • Markets and Markets
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FEATURED COMPANIES

  • API Heat Transfer
  • Dau Thermal Solutions
  • European Thermodynamics
  • Heatex
  • Honeywell
  • Kelvion
  • MORE

Growing consumer electronics market and cooling technology enhancement in server and datacenter is set to drive the thermal management market.

The global thermal management market size is estimated to be USD 8.8 billion in 2020 and is projected to reach 12.8 billion by 2025, at a CAGR of 8.2% during the forecast period. The market has a promising growth potential due to several factors, including the rising demand for effective thermal management solutions & systems in consumer electronics, increasing demand for electric and hybrid vehicles, increasing use of electronic devices in different end-use industries, and ongoing radical miniaturization of electronic devices.

The COVID-19 outbreak generated both demand-side and supply-side shocks rumbling across the global economy. Leading US-based thermal management solution providers such as Vertiv and Aavid Thermalloy have incurred significant losses owing to the pandemic spread. The strong actions such as imposing country-wide lockdown taken by governments globally to curb the spread of COVID-19 is expected to have a severe impact on the entire manufacturing industry. This is dragging down the demand of customers for thermal management solutions, thereby affecting the revenue of the key players in the thermal management market.

Convection cooling devices: The largest growing device type of thermal management market.

Convection cooling devices are expected to account for 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 the effective cooling of processors and computers, among others.

Optimization & post-sales support: The largest and fastest-growing segment of the thermal management market, by service.

Optimization & post-sales support segment is estimated to be the fastest-growing segment of the thermal management market, by service. Optimization & post-sales support services are required periodically to verify the operating conditions, reduce downtime of systems, elevate their overall performance levels, and maximize their operational life and efficiency. These services are generally used as a critical quality control tool in servers & data centers as high temperatures can damage them and can result in loss of vital information.

APAC is projected to become the largest and fastest geographical market between 2020 and 2025

APAC is expected to dominate the thermal management market between 2020 and 2025. The market growth in this region can be attributed to the factors such as the presence of several chip manufacturing companies in China and South Korea, the highly-developed automotive sector in Japan, increasing investments and business expansion opportunities available in China and India, and the increasing disposable income of the middle-class population in the region. Moreover, increasing demand for effective thermal management solutions and systems from emerging economies such as China and India are also fueling the growth of the thermal management market in APAC.

Breakdown of profiles of primary participants:

  • By Company: Tier 1 = 35%, Tier 2 = 45%, and Tier 3 = 20%
  • By Designation: C-level Executives = 25%, Directors = 35%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
  • By Region: North America - 45%, Europe - 30%, APAC - 20%, and RoW - 5%

Major players profiled in this report:

The thermal management market is dominated by a few globally established players such as Honeywell International (US), Aavid Thermalloy (US), Vertiv (US), European Thermodynamics (UK), and Master Bond (US).

Research coverage

This research report segments the global thermal management market based on the material (adhesive and nonadhesive), device (conduction, convection, advanced, and hybrid), service (installation & calibration and optimization & post-sales support), end-use industry (aerospace & defense, automotive, servers & data centers, consumer electronics, enterprise, healthcare, and others), and region (North America, Europe, APAC, and RoW).

The report also provides a comprehensive review of market 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.

Note: Product cover images may vary from those shown
2 of 6

FEATURED COMPANIES

  • API Heat Transfer
  • Dau Thermal Solutions
  • European Thermodynamics
  • Heatex
  • Honeywell
  • Kelvion
  • MORE

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Thermal Management Market
1.3.2 Regional Scope
1.3.3 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
Figure 2 Thermal Management Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Data from Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Estimating Size of Thermal Management Market Based on Bottom-Up Analysis
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach for Estimating Size of Thermal Management Market Based on Top-Down Analysis
Figure 4 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Breakdown and Data Triangulation
Figure 5 Data Triangulation
2.4 Research Assumptions

3 Executive Summary
Figure 6 Pre- and Post-Covid-19 Scenario for Thermal Management Market
3.1 Pre-Covid-19
3.2 Pessimistic Scenario (Post-Covid-19)
3.3 Optimistic Scenario (Post-Covid-19)
3.4 Realistic Scenario (Post-Covid-19)
Figure 7 Automotive Segment of Thermal Management Market Projected to Grow at the Highest CAGR from 2020 to 2025
Figure 8 Engine Control Thermal Management Systems Segment Estimated to Account for the Largest Share of Thermal Management Market for Automotive in 2020
Figure 9 Nonadhesive Materials Segment Projected to Account for the Largest Size of Thermal Management Market from 2020 to 2025
Figure 10 Convection Cooling Devices Segment to Account for the Largest Size of Thermal Management Market from 2020 to 2025
Figure 11 Asia-Pacific Accounted for the Largest Share of Thermal Management Market in 2019

4 Premium Insights
4.1 Attractive Growth Opportunities in Thermal Management Market
Figure 12 Thermal Management Market in Asia-Pacific Projected to Grow at the Highest CAGR from 2020 to 2025
4.2 Thermal Management Market, by End-Use Industry
Figure 13 Automotive Segment of Thermal Management Market Projected to Grow at the Highest CAGR from 2020 to 2025
4.3 Thermal Management Market, by End-Use Industry and Region
Figure 14 Automotive Segment and China Accounted for the Largest Shares of Thermal Management Market in Asia-Pacific in 2019
4.4 Thermal Management Market, by Service
Figure 15 Optimization & Post-Sales Support Segment Projected to Lead Thermal Management Market from 2020 to 2025
4.5 Thermal Management Market, by Geography
Figure 16 China Estimated to Account for the Largest Share of Thermal Management Market in 2020

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 17 Thermal Management Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Effective Thermal Management Solutions and Systems in Consumer Electronics
Figure 18 Rise in the Number of Processes in Computers Leading to Increased Power Consumption by Their Motherboards and Hard Disk Drives
5.2.1.2 Increasing Use of Electronic Devices in Different End-Use Industries
Figure 19 Electric Vehicle Sales, 2013–2018 (Million Units)
5.2.1.3 Ongoing Radical Miniaturization of Electronic Devices
5.2.2 Restraints
5.2.2.1 Design Complexities of Components Used in Cooling Systems
5.2.3 Opportunities
5.2.3.1 Technological Advancements Such as the Development of Synthetic Cooling Systems and Interface Materials
5.2.3.2 Advent of Cool Chips for Thermal Management in Electronic Devices
5.2.3.3 Increased Demand for Natural Refrigerants
Figure 20 Phase-Down of F-Gas Containing Substances from 2015 to 2030
5.2.4 Challenges
5.2.4.1 High Development Costs of Customized Thermal Management Solutions and Systems
5.2.4.2 Increase in Supply and Demand Gap Owing to Covid-19 Pandemic
5.3 Value Chain Analysis
Figure 21 Value Chain Analysis of Thermal Management Market
5.4 Thermal Management Standards and Regulations
5.4.1 Codes and Standards Related to Thermal Management

6 Thermal Management Market, by Material Type
6.1 Introduction
Figure 22 Nonadhesive Materials Segment Projected to Lead Thermal Management Market from 2020 to 2025
Table 1 Thermal Management Market, by Material Type,
2016–2019 (USD Million)
Table 2 Thermal Management Market, by Material Type, 2020–2025 (USD Million)
Table 3 Thermal Management Material Type Market, by End-Use Industry, 2016–2019 (USD Million)
Table 4 Thermal Management Material Type Market, by End-Use Industry, 2020–2025 (USD Million)
Table 5 Thermal Management Material Type Market, by Region, 2016–2019 (USD Million)
Table 6 Thermal Management Material Type Market, by Region, 2020–2025 (USD Million)
6.2 Adhesive Materials
Table 7 Thermal Management Adhesive Material Market, by Type, 2016–2019 (USD Million)
Table 8 Thermal Management Adhesive Material Market, by Type, 2020–2025 (USD Million)
Figure 23 Thermal Management Adhesive Material Market for Automotive Projected to Grow at the Highest CAGR from 2020 to 2025
Table 9 Thermal Management Adhesive Material Market, by End-Use Industry, 2016–2019 (USD Million)
Table 10 Thermal Management Adhesive Material Market, by End-Use Industry, 2020–2025 (USD Million)
6.2.1 Tapes
6.2.1.1 Tapes Are Widely Used for Thermal Management of Light-Emitting Diodes (LEDs) Used in the Automotive Industry
Table 11 Thermal Management Adhesive Material Market for Tapes, By End-Use Industry, 2016–2019 (USD Million)
Table 12 Thermal Management Adhesive Material Market for Tapes, B
Y End-Use Industry, 2020–2025 (USD Million)
6.2.2 Films
6.2.2.1 Thermally Conductive Films
6.2.2.1.1 Thermally Conductive Films Segment is Projected to Lead Thermal Management Market for Films from 2019 to 2024
6.2.2.2 Electrically Conductive Films
Table 13 Thermal Management Adhesive Material Market for Films, by Type, 2016–2019 (USD Million)
Table 14 Thermal Management Adhesive Material Market for Films, by Type, 2020–2025 (USD Million)
Table 15 Thermal Management Adhesive Material Market for Films, By End-Use Industry, 2016–2019 (USD Million)
Table 16 Thermal Management Adhesive Material Market for Films, By End-Use Industry, 2020–2025 (USD Million)
6.2.3 Adhesive Liquids
Table 17 Thermal Management Adhesive Material Market for Adhesive Liquids, by End-Use Industry, 2016–2019 (USD Million)
Table 18 Thermal Management Adhesive Material Market for Adhesive Liquids, by End-Use Industry, 2020–2025 (USD Million)
6.2.3.1 Heat Cure Liquids
6.2.3.1.1 Heat Cure Liquids Cure the Material Generally When Heated Above 100°C
6.2.3.2 Room Temperature Cure Liquids
6.2.3.2.1 Room Temperature Cure Liquids Are Usually Used in Bonding, Sealing, Coating, and Potting or Encapsulation Applications
6.3 Nonadhesive Materials
Table 19 Thermal Management Nonadhesive Material Market, by Type, 2016–2019 (USD Million)
Table 20 Thermal Management Nonadhesive Material Market, by Type, 2020–2025 (USD Million)
Figure 24 Automotive Segment of Thermal Management Nonadhesive Material Market Projected to Grow at the Highest CAGR from
2020 to 2025
Table 21 Thermal Management Nonadhesive Material Market, by End-Use Industry, 2016–2019 (USD Million)
Table 22 Thermal Management Nonadhesive Material Market, by End-Use Industry, 2020–2025 (USD Million)
6.3.1 Thermal Pads
6.3.1.1 Consumer Electronics is a Key End-Use Industry for Thermal Pads That is Highly Impacted Due to Covid-19
Table 23 Thermal Management Nonadhesive Material Market for Thermal Pads, by End-Use Industry, 2016–2019 (USD Million)
Table 24 Thermal Management Nonadhesive Material Market for Thermal Pads, by End-Use Industry, 2020–2025 (USD Million)
6.3.2 Gap Fillers
6.3.2.1 Demand for Gap Fillers from Automotive Industry is Expected to Increase During the Forecast Period
Table 25 Thermal Management Nonadhesive Material Market for Gap Fillers, by End-Use Industry, 2016–2019 (USD Million)
Table 26 Thermal Management Nonadhesive Material Market for Gap Fillers, by End-Use Industry, 2020–2025 (USD Million)
6.3.3 Phase Change Materials
6.3.3.1 Phase Change Materials Account for a Significant Share of the Nonadhesive Materials Market Especially During Covid-19
Table 27 Thermal Management Nonadhesive Material Market for Phase Change Materials, by End-Use Industry, 2016–2019 (USD Million)
Table 28 Thermal Management Nonadhesive Material Market for Phase Change Materials, by End-Use Industry, 2020–2025 (USD Million)
6.3.4 Grease
6.3.4.1 Grease is Increasingly Used in Automotive, Servers & Data Centers, and Consumer Electronics Industries
Table 29 Thermal Management Nonadhesive Material Market for Grease, By End-Use Industry, 2016–2019 (USD Million)
Table 30 Thermal Management Nonadhesive Material Market for Grease, By End-Use Industry, 2020–2025 (USD Million)

7 Thermal Management Market, by Device
7.1 Introduction
Figure 25 Advanced Cooling Devices Segment of Thermal Management Market Projected to Grow at the Highest CAGR from 2020 to 2025
Table 31 Thermal Management Market, by Device, 2016–2019 (USD Million)
Table 32 Thermal Management Market, by Device, 2020–2025 (USD Million)
7.2 Conduction Cooling Devices
7.2.1 Wedge Locks
7.2.1.1 Wedge Locks Are Widely Used Thermal Solutions in PCBs and SOCs
7.2.2 Potting Materials
7.2.2.1 Potting Materials Are Used to Protect Sensitive Electronic Components Against Heat, Shock, and Vibration
7.3 Convection Cooling Devices
Figure 26 Different Types of Convection Cooling Devices
7.3.1 Heat Sinks
7.3.1.1 Heat Sinks Are Primary and Most Widely Used Devices to Absorb Heat from Different Systems
7.3.2 Heat Spreaders
7.3.2.1 Heat Spreaders Are Increasingly Used in Thermal Monitors and Medical Equipment That Forms a Growth Prospect During Covid-19
7.3.3 Forced Air and Natural Cooling Devices
7.3.3.1 Forced Air Cooling Enables Effective Cooling, Improved Lifecycle, and Enhanced Performance of Electronic Components
7.3.4 Heat Pumps
7.3.4.1 Heat Pumps Are Increasingly Used in the Automotive Industry
7.4 Advanced Cooling Devices
7.4.1 Direct Immersion Cooling
7.4.1.1 Direct Immersion Cooling Has Great Opportunity in Servers & Data Centers Even During Covid-19 Scenario
7.4.2 Microchannel Cooling
7.4.2.1 Microchannel Cooling Heat Sinks Are Used in 3D Integrated Circuits
7.4.3 Cold Plates
7.4.3.1 Cold Plates Are Majorly Used in Applications With Space Constraints and Inefficient External Cooling
7.4.4 Others
7.5 Hybrid Cooling Devices
Figure 27 Different Types of Hybrid Cooling Devices
7.5.1 Electrowetting Devices
7.5.1.1 Electrowetting Devices Are Used for Thermal Management of On-Chip Hot Spots
7.5.2 Spot Coolers
7.5.2.1 Spot Coolers Serve as An Excellent Alternative to Precision Cooling and Mini-Split Systems in Data Centers
7.5.3 Vapor Chambers
7.5.3.1 Vapor Chambers Are Gaining Traction in Servers & Data Centers for Thermal Management of Blade Server Cpus
7.5.4 Compact Heat Exchangers
7.5.4.1 Compact Heat Exchangers Use Metal Foams and Polymers to Improve Heat Transfer as Compared to Other Types of Heat Exchangers
7.5.5 Thermoelectric Cooling
7.5.5.1 Micro-Thermoelectric Coolers Reduce Temperature of Hot Spots on Chips to Achieve a Highly Uniform Temperature Distribution
7.5.6 Others
Table 33 Thermal Management Device Market, by End-Use Industry, 2016–2029 (USD Million)
Table 34 Thermal Management Device Market, by End-Use Industry, 2020–2025 (USD Million)
Table 35 Thermal Management Device Market, by Region, 2016–2019 (USD Million)
Table 36 Thermal Management Device Market, by Region, 2020–2025 (USD Million)

8 Thermal Management Market, by Service
8.1 Introduction
Figure 28 Thermal Management Market, by Service
Table 37 Thermal Management Market, by Service, 2016–2019 (USD Million)
Table 38 Thermal Management Market, by Service, 2020–2025 (USD Million)
8.2 Installation & Calibration
8.2.1 Installation & Calibration is Essential to Understand a Complete and Reliable Heat Balance Before the Installation of Any Thermal Management Solution
8.3 Optimization & Post-Sales Support
8.3.1 Optimization & Post-Sales Support Services is Essential to Reduce Downtime of Systems Due to Improper Thermal Management by Regular Maintenance and Service

9 Thermal Management Market, by End-Use Industry
9.1 Introduction
Figure 29 Thermal Management Market, by End-Use Industry
Figure 30 Automotive Segment of Thermal Management Market Projected to Grow at the Highest CAGR from 2020 to 2025
Table 39 Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 40 Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
9.2 Consumer Electronics
9.2.1 Laptops and Computers
9.2.1.1 Cooling Fans, Active and Passive Heat Sinks, and Liquid Cooling Materials Are Major Thermal Solutions Used in Laptops and Computers
9.2.2 Audio Amplifier Components
9.2.2.1 Thermal Management Systems and Solutions Play a Major Role in Protecting Audio Amplifiers from Impairment Caused by Overheating
9.2.3 Power Supply Units
9.2.3.1 Use of Thermal Management Solutions and Systems is Necessary for Power Supply Units to Maintain Variable Temperature Generated by Their Varying Modes of Operations
9.2.4 Gaming Devices
9.2.4.1 Gaming Devices With High Specification Hardware Generate a Large Amount of Heat, Thereby Leading to Requirement for Thermal Management Solutions and Systems
9.2.5 Smartphones
9.2.5.1 Miniaturization of Components and Their High Computing Capabilities Have Led to Increased Use of Thermal Management Solutions and Systems in Smartphones
9.2.6 Home Appliances (Tv Sets, Fridges, Washing Machines, Etc.)
9.2.6.1 Advent of Smart Home Appliances is Expected to Boost the Demand for Thermal Management Solutions and Systems
Figure 31 APAC Projected to Lead Thermal Management Market for Consumer Electronics from 2020 to 2025
Table 41 Thermal Management Market for Consumer Electronics, By Region, 2016–2019 (USD Million)
Table 42 Thermal Management Market for Consumer Electronics, By Region, 2020–2025 (USD Million)
Table 43 North America Thermal Management Market for Consumer Electronics, by Country, 2016–2019 (USD Million)
Table 44 North America Thermal Management Market for Consumer Electronics, by Country, 2020–2025 (USD Million)
Table 45 Europe Thermal Management Market for Consumer Electronics, 2016–2019 (USD Million)
Table 46 Europe Thermal Management Market for Consumer Electronics, 2020–2025 (USD Million)
Table 47 APAC Thermal Management Market for Consumer Electronics, By Country, 2016–2019 (USD Million)
Table 48 APAC Thermal Management Market for Consumer Electronics, By Country, 2020–2025 (USD Million)
9.3 Servers & Data Centers
9.3.1 Single Racks
9.3.1.1 Thermal Management is Necessary for Single Rack Data Centers to Manage the Heat Dissipation from Power Supplies, Servers, and Equipment
9.3.2 Multi Racks
9.3.2.1 Heat Management is Carried Out in Multi Rack Data Centers to Achieve Desired Performance
Table 49 Thermal Management Market for Servers & Data Centers, by Type, 2016–2019 (USD Million)
Table 50 Thermal Management Market for Servers & Data Centers, by Type, 2020–2025 (USD Million)
Figure 32 Thermal Management Market for Servers & Data Centers in North America Projected to Grow at the Highest CAGR from 2020 to 2025
Table 51 Thermal Management Market for Servers & Data Centers, by Region, 2016–2019 (USD Million)
Table 52 Thermal Management Market for Servers & Data Centers, by Region, 2020–2025 (USD Million)
Table 53 North America Thermal Management Market for Servers & Data Centers, by Country, 2016–2019 (USD Million)
Table 54 North America Thermal Management Market for Servers & Data Centers, by Country, 2020–2025 (USD Million)
Table 55 Europe Thermal Management Market for Servers & Data Centers, by Country, 2016–2019 (USD Million)
Table 56 Europe Thermal Management Market for Servers & Data Centers, by Country, 2020–2025 (USD Million)
Table 57 APAC Thermal Management Market for Servers & Data Centers, By Country, 2016–2019 (USD Million)
Table 58 APAC Thermal Management Market for Servers & Data Centers, By Country, 2020–2025 (USD Million)
9.4 Automotive
9.4.1 Battery Thermal Management Systems
9.4.1.1 Increased Use of Batteries in Electric Vehicles is Contributing to Demand for Thermal Management Solutions and Systems
9.4.2 Engine Control Thermal Management Systems
9.4.2.1 Increased Use of Engine Control Thermal Management Systems in Vehicles is Contributing to Growth of Thermal Management Market
9.4.3 Waste Heat Recovery and Emission Reduction Systems
9.4.3.1 Rise in the Use of Thermal Management Solutions and Systems for Heat Recovery and Emission Reduction in Vehicles is Fueling Growth of Thermal Management Market
9.4.4 Brake and Suspension Cooling Systems
9.4.4.1 Coolant Pumps and Engine Cooling Jackets Are Key Thermal Management Solutions Used in Brake and Suspension Cooling Systems
9.4.5 Seat Heating and Cooling Systems
9.4.5.1 Innovations in Personalized Seat Comfort Systems is a Key Factor Fueling Adoption of Thermal Management Solutions and Systems in Vehicles
9.4.6 Automotive Lighting Systems
9.4.6.1 Development of Stylish 3D Led Daytime Running Lights, Turn Signal Lights, and High/Low Beams Lights Driving the Growth of Thermal Management Market
Table 59 Thermal Management Market for Automotive, by System Type, 2016–2019 (USD Million)
Table 60 Thermal Management Market for Automotive, by System Type, 2020–2025 (USD Million)
Figure 33 APAC Projected to Lead Thermal Management Market for Automotive from 2020 to 2025
Table 61 Thermal Management Market for Automotive, by Region, 2016–2019 (USD Million)
Table 62 Thermal Management Market for Automotive, by Region, 2020–2025 (USD Million)
Table 63 North America Thermal Management Market for Automotive, By Country, 2016–2019 (USD Million)
Table 64 North America Thermal Management Market for Automotive, By Country, 2020–2025 (USD Million)
Table 65 Europe Thermal Management Market for Automotive, by Country, 2016–2019 (USD Million)
Table 66 Europe Thermal Management Market for Automotive, by Country, 2020–2025 (USD Million)
Table 67 APAC Thermal Management Market for Automotive, by Country, 2016–2019 (USD Million)
Table 68 APAC Thermal Management Market for Automotive, by Country, 2020–2025 (USD Million)
9.5 Aerospace & Defense
9.5.1 Increased Investments in Defense Sector for Development of New Systems Fueling Growth of Thermal Management Market
Figure 34 APAC Thermal Management Market for Aerospace & Defense Projected to Grow at the Highest CAGR from 2020 to 2025
Table 69 Thermal Management Market for Aerospace & Defense, by Region, 2016–2019 (USD Million)
Table 70 Thermal Management Market for Aerospace & Defense, by Region, 2020–2025 (USD Million)
Table 71 North America Thermal Management Market for Aerospace & Defense, by Country, 2016–2019 (USD Million)
Table 72 North America Thermal Management Market for Aerospace & Defense, by Country, 2020–2025 (USD Million)
Table 73 Europe Thermal Management Market for Aerospace & Defense, By Country, 2016–2019 (USD Million)
Table 74 Europe Thermal Management Market for Aerospace & Defense, By Country, 2020–2025 (USD Million)
Table 75 APAC Thermal Management Market for Aerospace & Defense, By Country, 2016–2019 (USD Million)
Table 76 APAC Thermal Management Market for Aerospace & Defense, By Country, 2020–2025 (USD Million)
9.6 Enterprises
9.6.1 Flourishing IT Industry is Leading to Increased Adoption of Computing Devices Equipped With Thermal Management Systems and Solutions
Figure 35 APAC Thermal Management Market for Enterprises Projected to Grow at the Highest CAGR from 2020 to 2025
Table 77 Thermal Management Market for Enterprises, by Region, 2016–2019 (USD Million)
Table 78 Thermal Management Market for Enterprises, by Region, 2020–2025 (USD Million)
Table 79 North America Thermal Management Market for Enterprises, By Country, 2016–2019 (USD Million)
Table 80 North America Thermal Management Market for Enterprises, By Country, 2020–2025 (USD Million)
Table 81 Europe Thermal Management Market for Enterprises, by Country, 2016–2019 (USD Million)
Table 82 Europe Thermal Management Market for Enterprises, by Country, 2020–2025 (USD Million)
Table 83 APAC Thermal Management Market for Enterprises, by Country, 2016–2019 (USD Million)
Table 84 APAC Thermal Management Market for Enterprises, by Country, 2020–2025 (USD Million)
9.7 Healthcare
9.7.1 Large Infrastructure Equipment
9.7.1.1 Use of Thermal Management Solutions and Systems in Large Infrastructure Equipment Leading to Growth of Thermal Management Market
9.7.2 Portable Equipment
9.7.2.1 Thermal Systems and Solutions Are Used in Portable Equipment for Effective Thermal Energy Transfer to Ensure Safe, Effective, and Targeted Management System Therapy to Patients
Table 85 Thermal Management Market for Healthcare, by Equipment Type, 2016–2019 (USD Million)
Table 86 Thermal Management Market for Healthcare, by Equipment Type, 2020–2025 (USD Million)
Figure 36 APAC Thermal Management Market for Healthcare Projected to Grow at the Highest CAGR from 2020 to 2025
Table 87 Thermal Management Market for Healthcare, by Region, 2016–2019 (USD Million)
Table 88 Thermal Management Market for Healthcare, by Region, 2020–2025 (USD Million)
Table 89 North America Thermal Management Market for Healthcare, By Country, 2016–2019 (USD Million)
Table 90 North America Thermal Management Market for Healthcare, By Country, 2020–2025 (USD Million)
Table 91 Europe Thermal Management Market for Healthcare, by Country, 2016–2019 (USD Million)
Table 92 Europe Thermal Management Market for Healthcare, by Country, 2020–2025 (USD Million)
Table 93 APAC Thermal Management Market for Healthcare, by Country, 2016–2019 (USD Million)
Table 94 APAC Thermal Management Market for Healthcare, by Country, 2020–2025 (USD Million)
9.8 Other End-Use Industries
9.8.1 Use of IoT Devices in Manufacturing and Retail Industries Has Led to Growth of Thermal Management Market
Figure 37 APAC Thermal Management Market for Other End-Use Industries Projected to Grow at the Highest CAGR from 2020 to 2025
Table 95 Thermal Management Market for Other End-Use Industries, By Region, 2016–2019 (USD Million)
Table 96 Thermal Management Market for Other End-Use Industries, By Region, 2020–2025 (USD Million)
Table 97 North America Thermal Management Market for Other End-Use Industries, by Country, 2016–2019 (USD Million)
Table 98 North America Thermal Management Market for Other End-Use Industries, by Country, 2020–2025 (USD Million)
Table 99 Europe Thermal Management Market for Other End-Use Industries, by Country, 2016–2019 (USD Million)
Table 100 Europe Thermal Management Market for Other End-Use Industries, by Country, 2020–2025 (USD Million)
Table 101 APAC Thermal Management Market for Other End-Use Industries, by Country, 2016–2019 (USD Million)
Table 102 APAC Thermal Management Market for Other End-Use Industries, by Country, 2020–2025 (USD Million)
9.9 Most Impacted End-Use Industry Segment of Thermal Management Market by Covid-19
9.9.1 Consumer Electronics
Figure 38 Pre- and Post-Covid-19 Market Scenario for Consumer Electronics Segment of Thermal Management Market
Table 103 Pre- and Post-Covid-19 Scenario of Thermal Management Market for Consumer Electronics (USD Million)
9.9.1.1 Impact Analysis
9.10 Least Impacted End-Use Industry Segment of Thermal Management Market by Covid-19
9.10.1 Healthcare
Figure 39 Pre- and Post-Covid-19 Scenario of Thermal Management Market for Healthcare
Table 104 Pre- and Post-Covid-19 Scenario of Thermal Management Market for Healthcare (USD Million)
9.10.1.1 Impact Analysis

10 Regional Analysis
10.1 Introduction
Figure 40 Thermal Management Market in APAC Projected to Grow at the Highest CAGR from 2020 to 2025
Table 105 Thermal Management Market, by Region, 2016–2019 (USD Million)
Table 106 Thermal Management Market, by Region, 2020–2025 (USD Million)
10.2 North America
Figure 41 North America Thermal Management Market Snapshot
Table 107 Thermal Management Market in North America, by Country, 2016–2019 (USD Million)
Table 108 Thermal Management Market in North America, by Country, 2020–2025 (USD Million)
Figure 42 Thermal Management Market in North America for Servers & Data Centers Projected to Grow at the Highest CAGR from 2020 to 2025
Table 109 North America Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 110 North America Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.2.1 North America Expected to Be the Most Impacted Region By Covid-19
Figure 43 Pre- and Post-Covid-19 Scenario for North America Thermal Management Market
Table 111 Pre- and Post-Covid-19 Scenario of North America Thermal Management Market (USD Million)
10.2.2 US
10.2.2.1 Increasing Demand for Heat Management in Electric Cars and Smart Cars is Fueling Growth of Thermal Management Market in the US
Table 112 Us Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 113 Us Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.2.3 Canada
10.2.3.1 Rising Consumption of Consumer Electronics in Canada is Contributing to Growth of Thermal Management Market in the Country
Table 114 Canada Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 115 Canada Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.2.4 Mexico
10.2.4.1 Improving Economic Condition and Increasing Spending Capacity of Population Are Leading to Increased Demand for Consumers Electronics in Mexico
Table 116 Mexico Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 117 Mexico Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.3 Europe
Figure 44 Europe Thermal Management Market Snapshot
Table 118 Europe Thermal Management Market, by Country, 2016–2019 (USD Million)
Table 119 Europe Thermal Management Market, by Country, 2020–2025 (USD Million)
Table 120 Europe Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 121 Europe Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.3.1 Impact of Covid-19 on Europe Thermal Management Market
Figure 45 Pre- and Post-Covid-19 Scenario for Europe Thermal Management Market
Table 122 Pre- and Post-Covid-19 Scenario of Europe Thermal Management Market (USD Million)
10.3.2 UK
10.3.2.1 Flourishing Automotive, Servers & Data Centers, and Consumer Electronics Industries in the UK Are Fueling Growth of Thermal Management Market in the Country
Table 123 UK Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 124 UK Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.3.3 Germany
10.3.3.1 Flourishing Automotive Industry in Germany is Expected to Fuel Growth of Thermal Management Market in the Country
Table 125 Germany Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 126 Germany Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.3.4 France
10.3.4.1 Increasing Demand for Thermal Management Solutions and Systems from Servers & Data Centers and Automotive Industries is Fueling Growth of Thermal Management Market in France
Table 127 France Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 128 France Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.3.5 Rest of Europe
Table 129 Rest of Europe Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 130 Rest of Europe Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)  
10.4 Asia-Pacific (Apac)
Figure 46 APAC Thermal Management Market Snapshot
Table 131 APAC Thermal Management Market, by Country, 2016–2019 (USD Million)
Table 132 APAC Thermal Management Market, by Country, 2020–2025 (USD Million)
Table 133 APAC Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 134 APAC Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.4.1 APAC Expected to Recover at Fast Rate from the Impact of Covid-19
Figure 47 Pre- and Post-Covid-19 Scenario for APAC Thermal Management Market
Table 135 Pre- and Post-Covid-19 Scenario of APAC Thermal Management Market (USD Million)
10.4.2 Japan
10.4.2.1 Consumer Electronics and Automotive Are Leading Industries Contributing to Growth of Thermal Management Market in Japan
Table 136 Japan Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 137 Japan Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.4.3 China
10.4.3.1 Rising Demand for Thermal Management Solutions and Systems from Automotive and Consumer Electronics Industries is Contributing to Growth of Thermal Management Market in China
Table 138 China Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 139 China Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.4.4 South Korea
10.4.4.1 Thermal Management Market for Consumer Electronics in South Korea is Expected to Grow at a Significant Rate
Table 140 South Korea Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 141 South Korea Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)
10.4.5 India
10.4.5.1 Demand for Thermal Management Solutions and Systems from Automotive, Servers & Data Centers, and Consumer Electronics Industries is Driving Growth of Thermal Management Market in India
Table 142 India Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 143 India Thermal Management Market, by End-Use Industry,
2020–2025 (USD Million)
10.4.6 Rest of APAC
Table 144 Rest of APAC Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 145 Rest of APAC Thermal Management Market, By End-Use Industry, 2020–2025 (USD Million)
10.5 Rest of the World
10.5.1 South America Leads Thermal Management Market in Row
Table 146 Row Thermal Management Market, by Region, 2016–2019 (USD Million)
Table 147 Row Thermal Management Market, by Region, 2020–2025 (USD Million)
Table 148 Row Thermal Management Market, by End-Use Industry, 2016–2019 (USD Million)
Table 149 Row Thermal Management Market, by End-Use Industry, 2020–2025 (USD Million)

11 Competitive Landscape
11.1 Overview
Figure 48 Companies Adopted Product Launches & Developments as
Key Growth Strategy from January 2017 to May 2020
11.2 Ranking of Key Market Players
Figure 49 Thermal Management Market: Company Ranking Analysis (2019)
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
Figure 50 Thermal Management Market (Global) Competitive Leadership Mapping, 2019
11.4 Strength of Product Portfolio (For 25 Companies)
Figure 51 Product Portfolio Analysis of Top Players in Thermal Management Market
11.5 Business Strategy Excellence (For 25 Companies)
Figure 52 Business Strategy Excellence of Top Players in Thermal Management Market
11.6 Competitive Scenario
11.6.1 Product Launches & Developments
Table 150 Top 10 Product Launches & Developments, January 2017–May 2020
11.6.2 Partnerships and Agreements
Table 151 Partnerships and Agreements, January 2017–May 2020
11.6.3 Mergers & Acquisitions and Expansions
Table 152 Mergers & Acquisitions and Expansions, January 2017–May 2020

12 Company Profiles
12.1 Introduction
(Business Overview, Products & Solutions Offered, Covid-19 Related Developments, SWOT Analysis, and Analyst's View)*
12.2 Key Players
12.2.1 Honeywell
Figure 53 Honeywell: Company Snapshot
12.2.2 Aavid Thermalloy (Boyd Corporation)
12.2.3 Vertiv
Figure 54 Vertiv: Company Snapshot
12.2.4 European Thermodynamics
12.2.5 Henkel
Figure 55 Henkel: Company Snapshot
12.2.6 Master Bond
12.2.7 Laird
12.2.8 Delta Electronics
Figure 56 Delta Electronics: Company Snapshot
12.2.9 Advanced Cooling Technologies, Inc.
12.2.10 Parker (Chomerics Division)
Figure 57 Parker: Company Snapshot
12.3 Other Companies
12.3.1 Dau Thermal Solutions
12.3.2 Amerasia International (Ai) Technology
12.3.3 Heatex
12.3.4 Lord Corporation
12.3.5 API Heat Transfer
12.3.6 Thermotek
12.3.7 Jaro Thermal
12.3.8 Danfoss
12.3.9 Kelvion
12.3.10 Gentherm
*Details on Business Overview, Products & Solutions Offered, Covid-19 Related Developments, SWOT Analysis, and Analyst's View Might Not Be Captured in Case of Unlisted Companies.

13 Adjacent & Related Markets
13.1 Introduction
13.2 Limitations
13.3 Thermal Interface Pads & Material Markets
13.3.1 Market Definition
13.3.2 Market Overview
Figure 58 Consumer Electronics is Expected to Witness a High Growth Rate During the Forecast Period
13.3.3 Thermal Interface Pads & Material Market, by Application
13.3.3.1 Consumer Electronics
Table 153 Consumer Electronics Market, by Region 2014-2020 (USD Million)
13.3.3.2 Telecom Equipment
Table 154 Telecom Equipment Market, by Region 2014-2020 (USD Million)
13.3.3.3 Power Supply Units
Table 155 Power Supply Units Market, by Product, 2014-2020 (USD Million)
13.3.3.4 Others
Table 156 Others Market, by Products 2014-2020 (USD Million)
13.3.4 Thermal Interface Pads & Material Market, by Region
13.3.4.1 North America
Table 157 North American Tim Market, by Type, 2014-2020 (USD Million)
Table 158 North American Tim Market, by Application 2014-2020 (USD Million)
13.3.4.2 Europe
Table 159 European Tim Market, by Type, 2014-2020 (USD Million)
Table 160 Europe Tim Market, by Application, 2014–2020 (USD Million)
13.3.4.3 APAC
Table 161 APAC Tim Market, by Type, 2014-2020 (USD Million)
Table 162 APAC Tim Market, by Application, 2014–2020 (USD Million)
13.3.4.4 Rest of the World (Row)
Table 163 Row Tim Market, by Type, 2014–2020 (USD Million)
Table 164 Row Tim Market, by Application, 2014–2020 (USD Million)
13.4 Thermal Interface Material Markets
13.4.1 Market Definition
13.4.2 Market Overview
Figure 59 Asia-Pacific to Witness the Highest Growth Rate During the Forecast Period
13.4.3 Thermal Interface Material Market, by Application
13.4.3.1 Computers
Table 165 Thermal Interface Materials Market Size in Computers Application, by Region, 2014–2021 (USD Million)
Table 166 Thermal Interface Materials Market Size in Computers Application, by Region, 2014–2021 (Ton)
13.4.3.2 Telecom
Table 167 Thermal Interface Materials Market Size in Telecom Application, by Region, 2014–2021 (USD Million)
Table 168 Thermal Interface Materials Market Size in Telecom Application, by Region, 2014–2021 (Ton)
13.4.3.3 Medical Devices
Table 169 Thermal Interface Materials Market Size in Medical Devices Application, by Region, 2014–2021 (USD Million)
Table 170 Thermal Interface Materials Market Size in Medical Devices Application, by Region, 2014–2021 (Ton)
13.4.3.4 Industrial Machinery
Table 171 Thermal Interface Materials Market Size in Industrial Machinery Application, by Region, 2014–2021 (USD Million)
Table 172 Thermal Interface Materials Market Size in Industrial Machinery Application, by Region, 2014–2021 (Ton)
13.4.3.5 Consumer Durables
Table 173 Thermal Interface Materials Market Size in Consumer Durable Application, by Region, 2014–2021 (USD Million)
Table 174 Thermal Interface Materials Market Size in Consumer Durable Application, by Region, 2014–2021 (Ton)
13.4.3.6 Automotive Electronics
Table 175 Thermal Interface Materials Market Size in Automotive Electronics Application, by Region, 2014–2021 (USD Million)
Table 176 Thermal Interface Materials Market Size in Automotive Electronics Application, by Region, 2014–2021 (Ton)
13.4.3.7 Others
Table 177 Thermal Interface Materials Market Size in Other Application, By Region, 2014–2021 (USD Million)
Table 178 Thermal Interface Materials Market Size in Other Application, By Region, 2014–2021 (Ton)
13.4.4 Thermal Interface Material Market, by Region
13.4.4.1 North America
Table 179 North America: Thermal Interface Materials Market Size, By Application, 2014–2021 (USD Million)
Table 180 North America: Thermal Interface Materials Market Size, By Application, 2014–2021 (Ton)
13.4.4.2 Europe
Table 181 Europe: Thermal Interface Materials Market Size, by Application, 2014–2021 (USD Million)
Table 182 Europe: Thermal Interface Materials Market Size, by Application, 2014–2021 (Ton)
13.4.4.3 Asia-Pacific
Table 183 Asia-Pacific: Thermal Interface Materials Market Size, By Application, 2014–2021 (USD Million)
Table 184 Asia-Pacific: Thermal Interface Materials Market Size, By Application, 2014–2021 (Ton)
13.4.4.4 Middle East & Africa
Table 185 Middle East & Africa: Thermal Interface Materials Market Size, By Application, 2014–2021 (USD Million)
Table 186 Middle East & Africa: Thermal Interface Materials Market Size, By Application, 2014–2021 (Ton)
13.4.4.5 South America
Table 187 South America: Thermal Interface Materials Market Size, By Application, 2014–2021 (USD Million)
Table 188 South America: Thermal Interface Materials Market Size, By Application, 2014–2021 (Ton)

14 Appendix
14.1 Insights of Industry Experts
14.2 Questionnaire for Thermal Management Market

Note: Product cover images may vary from those shown
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  • Aavid Thermalloy (Boyd Corporation)
  • Advanced Cooling Technologies, Inc.
  • Amerasia International (Ai) Technology
  • API Heat Transfer
  • Danfoss
  • Dau Thermal Solutions
  • Delta Electronics
  • European Thermodynamics
  • Gentherm
  • Heatex
  • Henkel
  • Honeywell
  • Jaro Thermal
  • Kelvion
  • Laird
  • Lord Corporation
  • Master Bond
  • Parker (Chomerics Division)
  • Thermotek
  • Vertiv
Note: Product cover images may vary from those shown
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