Press release
Thermal Management Technologies Market Intelligence Report Offers Growth Prospects
The global market for thermal management technologies has attained significant impetus, thanks to the substantial rise in the electronics industry that has led to the surge in power densities, resulting in the increasing development of compact and smarter products. The rising requirement for advanced heat dissipation systems in compact products is fueling the demand for various thermal management technologies, which is expected to reflect positively on this market in the years to come.
Thermal management technologies are primarily utilized in the automotive, electrical and electronics, defense, aerospace, chemical, and the medical industries. The demand for these technologies is significantly high in the automotive and the electrical and electronics industries. With the escalating demand for these technologies in optimizing the computer-cooling process in order to control the amount of heat generated during the operation, the electrical and electronics industry is expected to emerge as the key end user of these technologies.
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The substantial surge in the operating frequencies for enhanced performance and the continual decrease in the size of ICs and other components are projected to fuel the demand for these technologies considerably in this segment over the next few years.
Global Thermal Management Technologies Market: Overview
Thermal management is the management to control temperature based systems by means of technologies which are established on the basis of heat transfer and thermodynamics characteristics. The thermal management technology functions either to increase or decrease the temperature of a specified systems. The thermal management technologies finds application in various end use industries, among them the major end market is computer and telecommunications.
The automotive electronics is also one of the major end use owing to the increasing regulations in the automobile industries. In automotive, the thermal management technologies are used in HVAC, instrumental panels, infotainment, head up displays etc. The power and thermal management in aerospace and military operations are extremely crucial. The carbon thermal management systems of light weight carbon nanotubes, fuel cells, enhanced cooling spray etc. are some of the management systems used in the aerospace industries. The global thermal management technologies market is expected to grow at moderate CAGR during the forecast period.
Global Thermal Management Technologies Market: Drivers and Restraints
The global thermal management technologies market is driven by the increasing demand for heat management in complex systems. For instance, the power electronics, medical devices and various high heat applications are designed in compact size and requires enhanced thermal technology to absorb the heat penetration. Such a factor boosts the global thermal management technologies market. The growing automotive industries also requires enhanced thermal management techniques thus drives the global thermal management technologies market. Further, the growing consumer electronics market aids in the expansion of thermal management technologies market.
However, some of the challenges in thermal management technologies are higher production costs, has to meet the stringent standards, thermal challenges such as high packaging factor etc. This might restrain the growth of global thermal management technologies market.
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Global Thermal Management Technologies Market: Region wise Outlook
The global thermal management technologies market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). The thermal management technologies market in North America region is robust owing to high market presence of established players such as Gentherm Incorporated, Advanced Cooling Technologies, Inc. etc.
The thermal management technologies market in APEJ is expected to grow at a significantly high rate owing to the electronics and semiconductor manufacturers. Moreover, the increasing expansion of various end users such as automotive, electrical and electronics equipments boosts the market in APEJ region. Western Europe thermal management technologies market is expected to grow owing to the stringent regulations for automotive manufacturers.
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