Thermal Management Market Research Report by Forecast to 2023

Posted by Kiran on November 4th, 2019

ThermalManagement Market Highlights:

Market Research Future (MRFR) reveals that the global thermal management market is likely to register a CAGR of 7% over the forecast period (2017-2023). Consumer electronics is a high end-user of thermal management technology.  MRFR identified, a hike in the sales volume of consumer electronics as a major factor that is expected to surge the global thermal management market.

In the report, published on the global ThermalManagement Market, MRFR states the market is poised to touch a substantial valuation of approximately USD 15 billion by 2023.

Competitive Landscape:

MRFR profiled some of the eminent companies which are operating in the market. They are; LORD Corporation (U.S.), Delta Electronics, Inc. (Taiwan), API Heat Transfer (U.S.), Honeywell International Inc (U.S.), AI Technology, Inc.(U.S.), Aavid Thermalloy, LLC (U.S.), Henkel AG & Co. KGaA (Germany), LAIRD PLC (U.K.), Jaro Thermal (U.S.), and HEATEX AB (U.S.) 

Industry News:

August 2019

MAHLE, a manufacturer of automotive parts designed an EV battery with thermal management solutions to increase its rapid charging capability.

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Market Insights:

The high demand for thermal management systems and solutions is likely to encourage the growth of the global thermal management market. Several industrial accidents have been recorded due to the lack of heat management. The rising need for industrial safety is surging the adoption of thermal management solutions across different industries, which is expected to intensify the global thermal management market growth.

The growing number of consumers of electronic devices such as smartphones, laptops, personal computers, refrigerator, and gaming devices that require cooling system is anticipated to surge the global thermal market. The automobile sector is a prominent end-user of thermal management techniques. The increase in number of automobiles sales is likely to cast a positive impact on the thermal management market growth. The incorporation of effective thermal management solutions in consumer electronics and automobiles extends their shelf-lives, which can reduce the maintenance cost. The rising popularity of thermal management solutions is expected to encourage the growth of global thermal management market growth.