Thermal Management Systems Market for Electronic Equipment Industry by Application and Geography - Forecast and Analysis 2020-2024

The global thermal management systems market size has the potential to grow by USD 13.33 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and application (consumer electronics, automotive electronics, aerospace and defense electronics, and medical electronics). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including 3M Co., AMETEK Inc., Danfoss AS, Emerson Electric Co., European Thermodynamics Ltd., Henkel AG & Co. KGaA, Honeywell International Inc., Parker-Hannifin Corp., Schneider Electric SE, and Vertiv Group Corp.

Market Overview

Market Competitive Analysis

The market is fragmented. To expand their geographic reach, vendors are focusing on stand-alone or collaborated sales and service network. Parker-Hannifin Corp., Schneider Electric SE, and Vertiv Group Corp. are some of the major market participants. Although the accelerating growth momentum will offer immense growth opportunities, the high cost of advanced thermal management systems technologies in automotive industry will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this thermal management systems market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this thermal management systems market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading thermal management systems companies, including:

• 3M Co.
• AMETEK Inc.
• Danfoss AS
• Emerson Electric Co.
• European Thermodynamics Ltd.
• Henkel AG & Co. KGaA
• Honeywell International Inc.
• Parker-Hannifin Corp.
• Schneider Electric SE
• Vertiv Group Corp.

Thermal Management Systems Market for Electronic Equipment Industry: Segmentation by Region

APAC accounted for the largest thermal management systems market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising disposable income, expanding middle-class population, changing demographics, and the ongoing urbanization and industrialization will significantly influence the growth of thermal management systems market size in the region.

Over 45% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for thermal management systems in APAC. Market growth in this region will be faster than the growth of the market in other geographies.

Thermal Management Systems Market for Electronic Equipment Industry: Segmentation by Application

There is a growing demand for more compact and powerful electronics. With the increase in power, efficiency, and miniaturization, the operating temperature of such devices is rising, resulting in higher energy density. This has consequently increased heat generation, which is necessitating the use of higher performing thermal management materials in consumer electronics. Therefore, the stakeholders of the electronics industry are seeking improved techniques to cool and control the temperature of electronic devices.

Market growth in this segment will be faster than the growth of the market in automotive electronics, aerospace and defense electronics, and medical electronics segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the thermal management systems market.

Thermal Management Systems Market for Electronic Equipment Industry: Key Drivers and Trends

The growing need to make electronic devices perform efficiently at higher power ranges has led to several technological advances and the miniaturization of devices. Moreover, power electronics is also gaining prominence in a wide spectrum of fields such as telecommunications, automotive, aerospace and defense, and healthcare.  Therefore, to manage the amount of power being dissipated from devices, the air-cooling solutions need to be optimized and enlarged adequately to remove excess heat. This has led to the preference for liquid cooling solutions as they have the potential to transform the heat up to four times higher than the capacity of air of equal mass and serve higher thermal performance in a smaller solution. Additionally, they are also capable of granting an additional level of control over the cooling system where the user can connect multiple cold plates to the same heat exchanger of the solution, thereby making the system capable of controlling the inlet temperature as well as the flow rate. Thus, these benefits are fostering the shift from air-cooled solutions to the adoption of liquid-cooled solutions in power electronics. Furthermore, the growing awareness of the benefits of liquid cooling solutions mostly in terms of higher efficiency than air cooling is expected to increase their adoption for thermal management. This, in turn, will drive the growth of the global thermal management systems market for electronic equipment during the forecast period.

• The ongoing miniaturization of devices and increased functionality within equipment have increased the need for power.
• Thermal simulation helps electrical engineers in anticipating the thermal behavior of an equipment's enclosure.
• Thermal simulation for better heat dissipation can be carried out at any stage of design to ensure the effective performance of every component.
• Thermal simulation also includes analyzing and optimizing the product early in the design phase and performing both thermomechanical and heat transfer analysis.
• During 2020-2024, the market will grow at a CAGR of over 12%.

Thermal Management Systems Market for Electronic Equipment Industry: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the thermal management systems market growth during the next five years
• Precise estimation of the global thermal management systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the thermal management systems industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of thermal management systems market growth