Thermal Management Technologies Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Thermal Management Technologies Market is segmented by Product Type (Software, Hardware, Substrate, Interface), Application (Computers, Consumer Electronics, Automotive Electronics, Telecommunication, Renewable Energy), and Geography (North America, Europe, Asia Pacific, Rest of the World). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Thermal Management Technologies Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Thermal Management Technologies Market Size

Thermal Management Technologies Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 13.67 Billion
Market Size (2030) USD 20.36 Billion
CAGR (2025 - 2030) 8.30 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Thermal Management Technologies Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thermal Management Technologies Market Analysis

The Thermal Management Technologies Market size is estimated at USD 13.67 billion in 2025, and is expected to reach USD 20.36 billion by 2030, at a CAGR of 8.3% during the forecast period (2025-2030).

The electronic packaging trend has resulted in increased performance and reduced product sizing. This has led to a significant increase in power consumption, which, in turn, demands thermal management for good system performance and reliability by removing the high heat flux generated by electronic devices.

  • Significant growth in the electronics industry worldwide is one of the key factors driving market growth. There is an increasing demand for miniaturized devices with enhanced power densities, with improvements in the manufacturing technologies of consumer electronics. This, in turn, positively impacts the demand for thermal management technologies to minimize the high heat flux generated by these devices.
  • Over the past few years, chip-cooling solutions have evolved to accommodate the increase in heat flux. Many manufacturers are working on the development of advanced cooling solutions based on multi-phase heat transfer technologies. Technologies like jet impingement mechanisms, cold plates, and heat vapor chambers have transformed the future of these systems.
  • Also, the increasing adoption of renewable energy resources is the major factor driving the thermal energy storage market. In addition, rapid industrialization across the world has increased the need for continuous power supply, which positively leads to the overall thermal energy storage market growth during the forecast period.
  • However, due to the use of various transistors, the design complexities in components used in thermal management, specifically in electronic devices, are restraining the market's growth.
  • One of the most common applications of thermal management technologies is in consumer electronics. At the onset of the pandemic, the consumer electronics industry faced a heavy headwind due to supply chain disruptions. However, with an increase in demand for virtual learning, remote work, and media consumption brought about by the pandemic, the demand for many consumer electronics devices, such as tablets and laptops, has experienced significant growth in recent times, which is expected to accelerate the market demand.

Thermal Management Technologies Industry Overview

The thermal management technologies market is significantly fragmented, with no player accounting for a significant market share. Also, the number of local players is increasing in this market, resulting in increasing competition.

In January 2022 - Parker Lord, a division of Parker Hannifin, expanded its portfolio of products for electric vehicle manufacturers to include new thermally conductive adhesives and one-component (1K) low-density gap fillers to support their product offering of thermal management encapsulants, adhesives, and gap fillers.

In June 2021 - Gentherm announced that it had emerged as the lead investor in a seed round of financing in Israel-based Carrar, a technology developer of advanced thermal management systems for the electric mobility market.

Thermal Management Technologies Market Leaders

  1. Parker Hannifin Corporation

  2. Advanced Cooling Technologies Inc.

  3. Honeywell International Inc.

  4. Gentherm Incorporated

  5. Autoneum Holding AG

  6. *Disclaimer: Major Players sorted in no particular order
Thermal Management Technologies Market Concentration
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Thermal Management Technologies Market News

  • July 2022: Honeywell and British aerospace company Reaction Engines Limited signed a memorandum of understanding to collaborate on developing thermal management technologies as a key enabler to reduce aircraft emissions, regardless of the fuel type used in the aircraft.
  • December 2021: The Chomerics division of Parker Hannifin Corporation introduced THERM-A-GAPTM PAD 30 and 60, its next generation of thermal gap filler pads for all heat transfer applications between electronic components and heat sinks.

Thermal Management Technologies Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Deliverables and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter Five Forces
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Intensity of Competitive Rivalry
    • 4.2.5 Threat of Substitutes
  • 4.3 Market Drivers
    • 4.3.1 Increase in Vehicle Energy Efficiency and Performance
    • 4.3.2 Thermal Management Technology Proliferation
  • 4.4 Market Challenges
    • 4.4.1 Design Complexities in Components
  • 4.5 Industry Value Chain Analysis
  • 4.6 Assessment of COVID-19 Impact on the Industry

5. MARKET SEGMENTATION

  • 5.1 By Product Type
    • 5.1.1 Software
    • 5.1.2 Hardware
    • 5.1.3 Substrate
    • 5.1.4 Interface
  • 5.2 By Application
    • 5.2.1 Computers
    • 5.2.2 Consumer Electronics
    • 5.2.3 Automotive Electronics
    • 5.2.4 Telecommunication
    • 5.2.5 Renewable Energy
    • 5.2.6 Other Applications
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.2 Europe
    • 5.3.3 Asia Pacific
    • 5.3.4 Rest of the World

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Parker-Hannifin Corp.
    • 6.1.2 Advanced Cooling Technologies Inc.
    • 6.1.3 Honeywell International Inc.
    • 6.1.4 Gentherm Inc.
    • 6.1.5 Autoneum Holding AG
    • 6.1.6 Sapa Extrusions Inc.
    • 6.1.7 AllCell Technologies
    • 6.1.8 Thermacore Inc.
    • 6.1.9 Laird Technologies Inc.
    • 6.1.10 Pentair Thermal Management
    • 6.1.11 Outlast Technologies LLC
  • *List Not Exhaustive

7. INVESTMENT ANALYSIS

8. FUTURE OF THE MARKET

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Thermal Management Technologies Industry Segmentation

Manufacturers generally apply a broad range of material technologies and problem-solving design tools to regulate the unwanted heat emitted from the normal functioning of an electronic system are considered thermal management technologies, which are classified as hardware, software, interfaces, and substrates.

The Thermal Management Technologies Market is segmented by Product Type (Software, Hardware, Substrate, Interface), Application (Computers, Consumer Electronics, Automotive Electronics, Telecommunication, Renewable Energy), and Geography (North America, Europe, Asia Pacific, Rest of the World). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Product Type Software
Hardware
Substrate
Interface
By Application Computers
Consumer Electronics
Automotive Electronics
Telecommunication
Renewable Energy
Other Applications
Geography North America
Europe
Asia Pacific
Rest of the World
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Thermal Management Technologies Market Research FAQs

How big is the Thermal Management Technologies Market?

The Thermal Management Technologies Market size is expected to reach USD 13.67 billion in 2025 and grow at a CAGR of 8.30% to reach USD 20.36 billion by 2030.

What is the current Thermal Management Technologies Market size?

In 2025, the Thermal Management Technologies Market size is expected to reach USD 13.67 billion.

Who are the key players in Thermal Management Technologies Market?

Parker Hannifin Corporation, Advanced Cooling Technologies Inc., Honeywell International Inc., Gentherm Incorporated and Autoneum Holding AG are the major companies operating in the Thermal Management Technologies Market.

Which is the fastest growing region in Thermal Management Technologies Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Thermal Management Technologies Market?

In 2025, the North America accounts for the largest market share in Thermal Management Technologies Market.

What years does this Thermal Management Technologies Market cover, and what was the market size in 2024?

In 2024, the Thermal Management Technologies Market size was estimated at USD 12.54 billion. The report covers the Thermal Management Technologies Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Thermal Management Technologies Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Thermal Management Technologies Industry Report

Statistics for the 2025 Thermal Management Technologies market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thermal Management Technologies analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.