The size of the thermal management technologies market will power at a compound annual growth rate of 10.3% by the end of this decade, to touch a value of USD 22,862.1 million by 2030.
This considerable growth of the industry is due to increasing demand for electronic devices in many sectors and surging need for temperature control in the industries. The need for thermal management solutions is also surging due to the growing demand for miniaturized electronic devices.
The usage of 5G smartphones is increasing extensively due to which energy consumption has become higher resulting in more heat generation. Overheated devices can suffer in terms of performance, which may result in network problems, outages and downtimes, ultimately increasing the demand for efficient temperature control technologies.
The adhesive material category will experience significant growth in the years to come. This is due to the ever-shrinking electronic components and systems inside electronics and medical devices produce significant amount of heat, which can lead to malfunctioning.
These materials are designed to improve the performance, reliability, and longevity of electronic devices, by reducing heat. Thermal adhesive films are preferred when there is a requirement for bonding complex parts.
The advanced cooling devices had the highest revenue, and this will also have the fastest growth. This is due to the increasing integration of microchannel cooling, direct-immersion cooling in data centers, and impingement jet cooling in consumer electronics.
Further, these technologies are used in the healthcare sector. For instance, the esophageal cooling device, which is a silicon tube with three lumens placed inside the esophagus. The device is used to regulate the patient’s temperature, while concurrently maintaining access to the stomach, to allow for gastric decompression and drainage.
Optimization & post-sales support experienced the highest CAGR. An efficient post-sales process will guarantee the customer's satisfaction. Additionally, it permits the manufacturer to understand where the product is successful and where it needs improvement.
The consumer electronics category will experience fastest growth, due to the advancement in the electronics industry. With the rising level of miniaturization of the installed components, consumer electronics, such as tablets, smart home products, smartwatches, and smartphones, are becoming more advanced and increasing demand for cooling systems.
The thermal management technologies market was dominated by APAC and will grow at highest CAGR. This is due to the increasing use of heat dissipation solutions in the healthcare sector, specifically in electronic medical devices.
Further, the increasing industrialization and urbanization rates, presence of prominent market players in the region, and government initiatives for installing EV charging stations are the major factors boosting the growth of the industry.
With the surging prevalence of 5G devices, increasing requirement for efficient cooling devices, advancements in the electronic industry, thermal management technologies certainly have a bright future.
