Market Research Report
Global Thermal Management Market - Analysis By Materials (Adhesive, Non-Adhesive), Devices, End Users, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)
|Global Thermal Management Market - Analysis By Materials (Adhesive, Non-Adhesive), Devices, End Users, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)|
Published: March 31, 2021
Content info: 250 Pages
Delivery time: 2-3 business days
The Global Thermal Management Market was valued at USD 44.75 billion in the year 2020. With the increased disposable income in highly populated countries such as China and India, the consumption of electronics has also improved significantly. The advancements in electronics and increased use of electronics drive the thermal management systems market. In this era of communications and entertainment, growth of consumer electronics is exploding with demand for increased mobility, wireless connectivity and advanced features demand paving the way for a variety of new products, including servers, laptops, ruggedized laptops, hybrid routers, data Centers and cameras.
The vehicle thermal management system integrates the correlation matching, optimization and control of the vehicle engine, air-conditioner, battery, and motor and other related components and subsystems from the perspective of the vehicle to effectively solve the thermal-related problems of the vehicle, and make the functional modules at the optimal temperature operating range, which improves the economic and dynamic property of the vehicle and ensures the safe operation of the vehicle.
Advanced thermal management technology can reduce the fuel consumption of conventional vehicles, increase the mileage of electric vehicles; improve the safety of the vehicle, ensure that the battery operates at a suitable temperature; and improve the comfort of drivers and passengers.
Asia Pacific region holds the major Thermal Management market share in 2020 with countries such as China and Japan being the major contributors to the regional market. Increasing adoption of EVs in the region, especially in China, is the major growth-driving factor.
Non-adhesive materials segment is expected to hold largest share of Thermal Management market. The factors can be attributed to their benefits such as mechanical shock absorption capacity, getting recharged in tandem with the changing ambient temperature, and making them ideal for various applications that require temperature control.