The changing demand for various smartphones, laptops and tablets is boosting the growth of the thermal management market. Also, factors such as operational efficiency and usage of various synthetic cooling methods are projected to propel the growth of the thermal management market.
The companies are investing in chip cooling solutions. Various manufacturers are working on new technological cooling solutions such as heat transfer technologies and thermodynamics. The market is expected to grow over the forecast period.
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Major Key Players:
Thermal Management Market:
According to Market Research Future, market has been segmented into components, devices, end-users and region. On the basis of end-user, the Thermal Management Market has been segmented into automotive, aerospace & defense, food & beverages, healthcare and consumer electronics among others.
Out of these end-users, consumer electronics accounted for the largest market share majorly due to increasing demand by consumers and changing lifestyles. Also, the automotive sector is expected to grow over the forecast period. The reason is attributed as the increasing complexity in in the passenger as well as the commercial heavy-duty vehicles, increasing development of products and power efficiency.
Regionally, North-America accounted for the largest market share from countries such U.S. among others. The reason is attributed to the increasing investments for these technological solutions, adoption of these thermal management solutions by various domains and low operational cost.
However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed as the presence of large number of electronic manufacturers, increasing government initiatives and the increasing adoption of thermal solutions by various sectors.
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For the purpose of this study, Market Research Future has segmented the market of thermal management into component, device, end-users and region.
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