Press release
Thermal Management Technologies Market To Reach USD 22,862.1 Million by 2030
This has a lot to do with the increasing requirement for electronic devices in numerous industries, for example healthcare, accompanied by the growing requirement for temperature control solutions in them. Furthermore, the growing requirement for miniaturized electronic devices is a main factor powering the acceptance of thermal management solution.
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On the basis of material type, the adhesive material category will have a healthy growth in the years to come. The requirement for this material is powered by the fact that the ever-shrinking electronic apparatuses and systems insider electronics and medical devices make considerable heat, which can bring about malfunctioning.
These materials are intended to improve the performance, dependability, and endurance of electronic devices, by dispersing heat. When there is a need for bonding intricate parts, thermal adhesive films are the preferred option.
Advanced cooling devices had the largest revenue share in 2022, and it will also witness the trend in the years to come, progressing with the highest rate. This is attributed to the snowballing incorporation of direct-immersion cooling in data centers, microchannel cooling, and impingement jet cooling in consumer electronics.
Furthermore, cutting-edge cooling technologies are put to use in the healthcare industry. An instance is the esophageal cooling device, which is a silicon tube with 3 lumens placed inside the esophagus. The device is put to use for regulating the temperature of the patients, while concurrently upholding access to the stomach, to let for gastric decompressing and drainage.
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On the basis of service, optimization & post-sales support will observe the highest rate. An effective post-sales procedure will guarantee the customer's fulfilment with the product.
Moreover, it lets the manufacturer to comprehend where the product is effective and where it requires improvement. In 2022, as per the article, 1.75 million AC units were vended in India, which will now need servicing and repairs.
APAC had the major share of about 35%, in thermal management technologies market in 2022, and it will power at the highest rate. This is because of the increasing use of heat dissipation solutions in the healthcare industry, precisely in e- medical devices.
Furthermore, the snowballing urbanization and industrialization rates, presence of main market players, and initiatives of the government for installation of EV charging stations are the key factors powering the growth of the industry.
It is because of the growing requirement for various sectors, the demand for thermal management technologies will continue to increase in the years to come.
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