Thermal Management Technologies Market Share, Size, Future Demand, and Emerging Trends

The size of the thermal management technologies market will power at a compound annual growth rate of 10.3% by the end of this decade, to touch a value of USD 22,862.1 million by 2030.

This considerable growth of the industry is due to increasing demand for electronic devices in many sectors and surging need for temperature control in the industries. The need for thermal management solutions is also surging due to the growing demand for miniaturized electronic devices.

The usage of 5G smartphones is increasing extensively due to which energy consumption has become higher resulting in more heat generation. Overheated devices can suffer in terms of performance, which may result in network problems, outages and downtimes, ultimately increasing the demand for efficient temperature control technologies.

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The thermal management technologies market was dominated by APAC and will grow at highest CAGR. This is due to the increasing use of heat dissipation solutions in the healthcare sector, specifically in electronic medical devices.

Further, the increasing industrialization and urbanization rates, presence of prominent market players in the region, and government initiatives for installing EV charging stations are the major factors boosting the growth of the industry.

With the surging prevalence of 5G devices, increasing requirement for efficient cooling devices, advancements in the electronic industry, thermal management technologies certainly have a bright future.