In a recent published report, Kenneth Research has updated the market report for Thermal Management Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Thermal Management Market products.
The Thermal Management Market is majorly affected by the recently hit global pandemic, COVID-19, which has devastated several businesses worldwide. Although, the ICT industry has observed a significant rise in the utilization of cloud applications, yet several manufacturing organizations in the ICT industry are facing significant issues, especially in places where the ICT infrastructure is not that satisfactory.
The Global Thermal Management Market was valued at USD 8.79 billion in 2017 and is projected to reach USD 17.35 billion by 2025, growing at a CAGR of 7.44% from 2018 to 2025.
What is a Thermal Management?
Electronic devices and circuitry often generate excess heat. This excess heat therefore requires thermal management in order to be able to prevent failures and therefore improve reliability. There are several techniques in order to be able to carry out thermal management which include various devices such as conduction cooling devices, convection cooling devices, advanced cooling devices and hybrid cooling devices. Thermal management can be carried out for applications such as consumer electronics, servers and data centers, automotive, aerospace and defense and more.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global Thermal Management Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Factors such as the rising demand for thermal management in consumer management and the growing applications for thermal management in electronics are driving the market. Factors such as the complexities in the design of the components that are used for thermal management is restraining the growth of the thermal management market.
Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Thermal Management Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Thermal Management Market Competitive Landscape
The “Global Thermal Management Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Honeywell International Inc., Aavid Thermalloy LLC., Vertiv Co., European Thermodynamics Ltd., Master Bond Inc., Laird PLC, Henkel AG & Company, KGaA, Delta Electronics, Inc., Advanced Cooling Technologies, Inc. and Dau Thermal Solutions Inc. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Thermal Management Market , By Material Type
• Adhesive Materials
• Nonadhesive Materials
Global Thermal Management Market , By Device
• Conduction Cooling Devices
• Convection Cooling Devices
• Advanced Cooling Devices
• Hybrid Cooling Devices
Global Thermal Management Market , By End-Use Application
• Consumer Electronics
• Servers and Data Centers
• Aerospace and Defense
Global Thermal Management Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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