Thermal Management Market is expected to reach USD 14.24 billion by 2022
LONDON, June 6, 2017 /PRNewswire/ -- Highlights
· Use of thermal tapes in adhesive materials to fuel the growth of the thermal management market
· The thermal management market is expected to grow at a CAGR of 7.91% between 2017 and 2022, to reach USD 14.24 billion by 2022 from USD 8.99 billion in 2016.
· Thermal management market for consumer electronics application expected to grow at the highest CAGR during the forecast period.
· The increasing demand for thermal management depends on the elevating demand of the consumer electronics.
· Thermal management solutions are prominently used in many consumer electronics such as personal computers, laptops, smartphones, and gaming devices.
· Thermal management in consumer electronics involves chip cooling and also protects electronic components such as processors and transistors from overheating.
· North America is the major region in thermal management market.
· North America is expected to hold the largest share of thermal management market by 2022.
· It holds a tremendous potential for the market in the coming future due to its high investment in healthcare applications, increasing use of electric and hybrid vehicles, and growing data centers across the region.
· In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials from the companies in the thermal management market.
"Use of thermal tapes in adhesive materials to fuel the growth of the thermal management market"
The thermal management market is expected to grow at a CAGR of 7.91% between 2017 and 2022, to reach USD 14.24 billion by 2022 from USD 8.99 billion in 2016. The thermal management market is mainly driven by the following factors: rising demand for thermal management in consumer electronics, growing application arena across industries such as medical equipment, automotive, and aerospace and defense, and radical miniaturization of electronic devices.
However, complexities in designing of thermal components act as a restraint for the thermal management market.
"Thermal management market for consumer electronics application expected to grow at the highest CAGR during the forecast period."
The increasing demand for thermal management depends on the elevating demand of the consumer electronics. Thermal management solutions are prominently used in many consumer electronics such as personal computers, laptops, smartphones, and gaming devices. Thermal management in consumer electronics involves chip cooling and also protects electronic components such as processors and transistors from overheating. For the multi-core processors, the noise can be avoided by using large heat sinks, heat pipes, and cooling fans. High conductivity materials such as phase change materials (PCMs) and thermal interface materials are widely used in smartphones and laptops to manage the cooling of electronic components and integrated chips. Thus, increasing the number of processors and shrinking the size of electronics components in electronic systems will boost the demand for thermal management solutions leading to the rise in adoption of these solutions. Thus, the market for consumer electronics is expected to reach at the highest rate during the forecast period.
"North America is the major region in thermal management market."
North America is expected to hold the largest share of thermal management market by 2022. It holds a tremendous potential for the market in the coming future due to its high investment in healthcare applications, increasing use of electric and hybrid vehicles, and growing data centers across the region. Also, North American governments actively invest in the aeronautics and defense sector. Thermal management devices are used within the computational unit of various missiles. These factors are driving the overall thermal management market in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials from the companies in the thermal management market. The break-up of primary participants for the report has been shown below:
-- By Company Type: Tier 1 = 33 %, Tier 2 = 50%, and Tier 3 = 17%
-- By Designation: C-Level Executives = 50%, Directors = 33%, and Others = 17%
-- By Region: North America = 50%, Europe = 17%, APAC = 33%,
The report also profiles the key players in the thermal management market and analyzes their market ranking. The prominent players profiled in this report are Honeywell International Inc. (US), Aavid Thermalloy LLC (US), Vertiv Co (US), European Thermodynamics Ltd (UK), Master Bond Inc.(US), Laird PLC (UK), Henkel AG & Company, KGaA (Germany), Delta Electronics, Inc. (Taiwan), Advanced Cooling Technologies, Inc. (US), Dau Thermal Solutions Inc. (US), Amerasia International (AI) Technology Inc.(US), Heatex Ab (Sweden), Lord Corporation (US), and Parker Chomerics (US), among others.
Research Coverage:
This research report categorizes the thermal management market on the basis of material type, device, end-use application, service, and geography. The report also provides a description of major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to Buy the Report
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the thermal management market comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the market.
3. This report will help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section describes competitor ecosystem and various strategies implemented by the companies such as product developments, partnerships, and mergers and acquisitions.
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