Thermal Management Market – Challenges, Key Vendors, Drivers and Trends by Forecast to 2023


Thermal Management Market Overview:
The global market for thermal management is anticipated to reach a valuation of approximately USD 15 billion by 2023, says Market Research Future (MRFR). It can potentially attain a growth rate of 7% during the forecast period (2017-2023).

The elevation in vehicle energy efficiency, as well as performance combined with the reduction in costs, is boosting the market demand for thermal management. The Thermal Management Market demand in the electric and hybrid vehicles has grown considerably owing to the improved battery capacity, expanding charging infrastructure, and rising preference for electric vehicles among consumers. DuPont’s top-performing refrigerants provide low global warming potential, which makes them ideal for use in hybrid and electric vehicle battery systems, since they need to keep the temperature range under control.

Thermal management technology market also benefits the rising proliferation of embedded computing in healthcare, automotive, space, buildings, as well as various other commercial/consumer markets. The fan-based air cooling like piezoelectric fans along with chip-cooling solutions have garnered immense popularity in the thermal management market and can give the market a host of growth opportunities in the future as well.

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Thermal Management Market Significant Players:
Some of the well-known players in the worldwide thermal management market are HEATEX AB (U.S.), AI Technology, Inc.(U.S.), Aavid Thermalloy, LLC (U.S.), API Heat Transfer (U.S.), Henkel AG & Co. KGaA (Germany), Jaro Thermal (U.S.), LORD Corporation (U.S.) Honeywell International Inc (U.S.), Delta Electronics, Inc. (Taiwan), LAIRD PLC (U.K.), among others.

Thermal Management Market Segmentation:
The global market for thermal management has been segmented with regard to components, devices, and end-users.

The end-users covered in the report are aerospace & defense, automotive, healthcare, consumer electronics and food & beverages, among others. Among these, consumer electronics forms the biggest segment in the market, owing to the surging demand among consumers along with the evolving lifestyles. Moreover, the automotive sector can gain higher traction in the coming period, because of the growing complexity in the passenger as and commercial heavy-duty vehicles coupled with the rising development of products.

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Thermal Management Market Regional Insight:
Asia Pacific (APAC), the Middle East & Africa (MEA), Europe and North America are the main markets for thermal management.

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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