Industry: Machinery & Equipment
Published Date: 2025-03-28
Pages: 133 Pages
Report ld: 4674495
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Thermal Management Market Size(US$)

CAGR 2025-2031
3.8%
Market Size,2031
USD 83,740
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
In 2024, the global market size of Thermal Management was estimated to be worth US$ 64740 million and is forecast to reach approximately US$ 83740 million by 2031 with a CAGR of 3.8% during the forecast period 2025-2031.
This report studies the Thermal Management market, Thermal management is the ability to control the temperature and noise level of a system by means of technology based on thermodynamics and heat transfer. Advancements in the electronics industry have led to an increased need for innovative thermal management technologies to improve the system performance and reliability by removing high heat flux generated in the electronic devices.
Global Thermal Management key players include DENSO, Valeo, MAHLE, Hanon Systems, etc. Global top four manufacturers hold a share about 55%.
China is the largest market, with a share over 25%, followed by United States and EU, both have a share over 40 percent.
In terms of product, Conduction Cooling Devices is the largest segment, with a share about 40%. And in terms of application, the largest application is Automotive, followed by Aerospace and Defense, Servers and Data Centers, Consumer Electronics, Medical Equipment, etc.
MARKET SEGMENTATION
REPORT SCOPE
This report aims to provide a comprehensive presentation of the global market for Thermal Management, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Thermal Management.
The Thermal Management market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Thermal Management market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Thermal Management companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.
CHAPTER OUTLINE
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on.
Chapter 2: Revenue of Thermal Management in global and regional level.
Chapter 3: Detailed analysis of Thermal Management company competitive landscape, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key companies, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Thermal Management revenue, gross margin, and recent development, etc.
Chapter 5: Provides the analysis of various market segments by Type, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: North America (US & Canada) by Type, by Application and by country, revenue for each segment.
Chapter 8: Europe by Type, by Application and by country, revenue for each segment.
Chapter 9: Asia Pacific by Type, by Application and by region, revenue for each segment.
Chapter 10: Latin America by Type, by Application and by country, revenue for each segment.
Chapter 11: Middle East and Africa, by Type, by Application and by country, revenue for each segment.
Chapter 12: Analysis of industrial chain, sales channel, key raw materials, distributors, and customers.
Chapter 13: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 14: Research Findings and Conclusion
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
We adjust product portfolios in line with local consumption habits.
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
TABLE OF CONTENTS
1 Study Coverage
1.1 Thermal Management Product Introduction
1.2 Market by Type
1.2.1 Global Thermal Management Market Size Growth Rate by Type (2020 VS 2024 VS 2031)
1.2.2 Conduction Cooling Devices
1.2.3 Convection Cooling Devices
1.2.4 Hybrid Cooling Devices
1.2.5 Others
1.3 Market by Application
1.3.1 Global Thermal Management Market Size Growth Rate by Application (2020 VS 2024 VS 2031)
1.3.2 Automotive
1.3.3 Aerospace and Defense
1.3.4 Servers and Data Centers
1.3.5 Consumer Electronics
1.3.6 Medical Equipment
1.3.7 Others
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Executive Summary
2.1 Global Thermal Management Market Size Estimates and Forecasts
2.2 Thermal Management Market Size by Region: 2024 Versus 2031
2.2.1 Global Thermal Management Revenue by Region: 2020-2025
2.2.2 Global Thermal Management Revenue Forecast by Region (2026-2031)
2.2.3 Global Thermal Management Revenue Market Share by Region (2020-2031)
3 Market Segments
3.1 Breakdown Data by Type
3.1.1 Global Thermal Management Revenue by Type (2020-2031)
3.1.2 Global Thermal Management Revenue Market Share by Type (2020-2031)
3.2 Breakdown Data by Application
3.2.1 Global Thermal Management Revenue by Application (2020-2031)
3.2.2 Global Thermal Management Revenue Market Share by Application (2020-2031)
3.3 by Type and by Application Crossing Analysis
3.3.1 Conduction Cooling Devices of Thermal Management Revenue Market Share by Application
3.3.2 Convection Cooling Devices of Thermal Management Revenue Market Share by Application
3.3.3 Hybrid Cooling Devices of Thermal Management Revenue Market Share by Application
3.3.4 Others of Thermal Management Revenue Market Share by Application
4 Global Thermal Management by Company
4.1 Global Thermal Management Revenue by Company (2020-2025)
4.2 Global Thermal Management Revenue Share by Company (2020-2025)
4.3 Competitive Landscape
4.3.1 Key Thermal Management Companies around the World: Ranking by Revenue
4.3.2 Global Thermal Management Market Concentration Ratio (CR5 and HHI) & (2020-2025)
4.3.3 Global Thermal Management Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
4.4 Global Thermal Management Companies Headquarters & Product Type
4.4.1 Global Thermal Management Companies Headquarters
4.4.2 Date of International Companies Enter into Thermal Management Market
4.4.3 Global Thermal Management Companies Product & Service
4.4.4 Conduction Cooling Devices Revenue Market Share of Thermal Management by Company
4.4.5 Convection Cooling Devices Revenue Market Share of Thermal Management by Company
4.4.6 Hybrid Cooling Devices Revenue Market Share of Thermal Management by Company
4.4.7 Others Revenue Market Share of Thermal Management by Company
4.5 Global Thermal Management Mergers & Acquisitions, Expansion Plans
5 Company Profiles
5.1 DENSO
5.1.1 DENSO Corporation Information
5.1.2 DENSO Description, Business Overview
5.1.3 DENSO Thermal Management Products Offered
5.1.4 DENSO Thermal Management Revenue and Gross Margin (2020-2025)
5.1.5 DENSO Thermal Management Revenue by Product in 2024
5.1.6 DENSO Thermal Management Revenue by Application in 2024
5.1.7 DENSO Thermal Management Revenue by Geographic Area in 2024
5.1.8 DENSO Recent Developments
5.2 Valeo
5.2.1 Valeo Corporation Information
5.2.2 Valeo Description, Business Overview
5.2.3 Valeo Thermal Management Products Offered
5.2.4 Valeo Thermal Management Revenue and Gross Margin (2020-2025)
5.2.5 Valeo Thermal Management Revenue by Product in 2024
5.2.6 Valeo Thermal Management Revenue by Application in 2024
5.2.7 Valeo Thermal Management Revenue by Geographic Area in 2024
5.2.8 Valeo Recent Developments
5.3 MAHLE
5.3.1 MAHLE Corporation Information
5.3.2 MAHLE Description, Business Overview
5.3.3 MAHLE Thermal Management Products Offered
5.3.4 MAHLE Thermal Management Revenue and Gross Margin (2020-2025)
5.3.5 MAHLE Thermal Management Revenue by Product in 2024
5.3.6 MAHLE Thermal Management Revenue by Application in 2024
5.3.7 MAHLE Thermal Management Revenue by Geographic Area in 2024
5.3.8 MAHLE Recent Developments
5.4 Hanon Systems
5.4.1 Hanon Systems Corporation Information
5.4.2 Hanon Systems Description, Business Overview
5.4.3 Hanon Systems Thermal Management Products Offered
5.4.4 Hanon Systems Thermal Management Revenue and Gross Margin (2020-2025)
5.4.5 Hanon Systems Thermal Management Revenue by Product in 2024
5.4.6 Hanon Systems Thermal Management Revenue by Application in 2024
5.4.7 Hanon Systems Thermal Management Revenue by Geographic Area in 2024
5.4.8 Hanon Systems Recent Developments
5.5 Honeywell
5.5.1 Honeywell Corporation Information
5.5.2 Honeywell Description, Business Overview
5.5.3 Honeywell Thermal Management Products Offered
5.5.4 Honeywell Thermal Management Revenue and Gross Margin (2020-2025)
5.5.5 Honeywell Thermal Management Revenue by Product in 2024
5.5.6 Honeywell Thermal Management Revenue by Application in 2024
5.5.7 Honeywell Thermal Management Revenue by Geographic Area in 2024
5.5.8 Honeywell Recent Developments
5.6 Vertiv
5.6.1 Vertiv Corporation Information
5.6.2 Vertiv Description, Business Overview
5.6.3 Vertiv Thermal Management Products Offered
5.6.4 Vertiv Thermal Management Revenue and Gross Margin (2020-2025)
5.6.5 Vertiv Thermal Management Revenue by Product in 2024
5.6.6 Vertiv Thermal Management Revenue by Application in 2024
5.6.7 Vertiv Thermal Management Revenue by Geographic Area in 2024
5.6.8 Vertiv Recent Developments
5.7 Gentherm
5.7.1 Gentherm Corporation Information
5.7.2 Gentherm Description, Business Overview
5.7.3 Gentherm Thermal Management Products Offered
5.7.4 Gentherm Thermal Management Revenue and Gross Margin (2020-2025)
5.7.5 Gentherm Thermal Management Revenue by Product in 2024
5.7.6 Gentherm Thermal Management Revenue by Application in 2024
5.7.7 Gentherm Thermal Management Revenue by Geographic Area in 2024
5.7.8 Gentherm Recent Developments
5.8 Delta
5.8.1 Delta Corporation Information
5.8.2 Delta Description, Business Overview
5.8.3 Delta Thermal Management Products Offered
5.8.4 Delta Thermal Management Revenue and Gross Margin (2020-2025)
5.8.5 Delta Thermal Management Revenue by Product in 2024
5.8.6 Delta Thermal Management Revenue by Application in 2024
5.8.7 Delta Thermal Management Revenue by Geographic Area in 2024
5.8.8 Delta Recent Developments
5.9 Laird
5.9.1 Laird Corporation Information
5.9.2 Laird Description, Business Overview
5.9.3 Laird Thermal Management Products Offered
5.9.4 Laird Thermal Management Revenue and Gross Margin (2020-2025)
5.9.5 Laird Thermal Management Revenue by Product in 2024
5.9.6 Laird Thermal Management Revenue by Application in 2024
5.9.7 Laird Thermal Management Revenue by Geographic Area in 2024
5.9.8 Laird Recent Developments
5.10 Boyd Corporation
5.10.1 Boyd Corporation Corporation Information
5.10.2 Boyd Corporation Description, Business Overview
5.10.3 Boyd Corporation Thermal Management Products Offered
5.10.4 Boyd Corporation Thermal Management Revenue and Gross Margin (2020-2025)
5.10.5 Boyd Corporation Thermal Management Revenue by Product in 2024
5.10.6 Boyd Corporation Thermal Management Revenue by Application in 2024
5.10.7 Boyd Corporation Thermal Management Revenue by Geographic Area in 2024
5.10.8 Boyd Corporation Recent Developments
5.11 Heatex
5.11.1 Heatex Corporation Information
5.11.2 Heatex Description, Business Overview
5.11.3 Heatex Thermal Management Products Offered
5.11.4 Heatex Thermal Management Revenue and Gross Margin (2020-2025)
5.11.5 Heatex Thermal Management Revenue by Product in 2024
5.11.6 Heatex Thermal Management Revenue by Application in 2024
5.11.7 Heatex Thermal Management Revenue by Geographic Area in 2024
5.11.8 Heatex Recent Developments
5.12 European Thermodynamics
5.12.1 European Thermodynamics Corporation Information
5.12.2 European Thermodynamics Description, Business Overview
5.12.3 European Thermodynamics Thermal Management Products Offered
5.12.4 European Thermodynamics Thermal Management Revenue and Gross Margin (2020-2025)
5.12.5 European Thermodynamics Thermal Management Revenue by Product in 2024
5.12.6 European Thermodynamics Thermal Management Revenue by Application in 2024
5.12.7 European Thermodynamics Thermal Management Revenue by Geographic Area in 2024
5.12.8 European Thermodynamics Recent Developments
5.13 Advanced Cooling Technologies
5.13.1 Advanced Cooling Technologies Corporation Information
5.13.2 Advanced Cooling Technologies Description, Business Overview
5.13.3 Advanced Cooling Technologies Thermal Management Products Offered
5.13.4 Advanced Cooling Technologies Thermal Management Revenue and Gross Margin (2020-2025)
5.13.5 Advanced Cooling Technologies Thermal Management Revenue by Product in 2024
5.13.6 Advanced Cooling Technologies Thermal Management Revenue by Application in 2024
5.13.7 Advanced Cooling Technologies Thermal Management Revenue by Geographic Area in 2024
5.13.8 Advanced Cooling Technologies Recent Developments
5.14 Dau Thermal Solutions
5.14.1 Dau Thermal Solutions Corporation Information
5.14.2 Dau Thermal Solutions Description, Business Overview
5.14.3 Dau Thermal Solutions Thermal Management Products Offered
5.14.4 Dau Thermal Solutions Thermal Management Revenue and Gross Margin (2020-2025)
5.14.5 Dau Thermal Solutions Thermal Management Revenue by Product in 2024
5.14.6 Dau Thermal Solutions Thermal Management Revenue by Application in 2024
5.14.7 Dau Thermal Solutions Thermal Management Revenue by Geographic Area in 2024
5.14.8 Dau Thermal Solutions Recent Developments
6 North America
6.1 North America Thermal Management Market Size YoY Growth 2020-2031
6.2 North America Thermal Management Market Facts & Figures by Country (2020-2031)
6.3 North America Thermal Management Revenue by Type (2020-2025)
6.4 North America Thermal Management Revenue by Application (2020-2025)
7 Asia-Pacific
7.1 Asia-Pacific Thermal Management Market Size YoY Growth 2020-2031
7.2 Asia-Pacific Thermal Management Market Facts & Figures by Region (2020-2031)
7.3 Asia-Pacific Thermal Management Revenue by Type (2020-2025)
7.4 Asia-Pacific Thermal Management Revenue by Application (2020-2025)
8 Europe
8.1 Europe Thermal Management Market Size YoY Growth 2020-2031
8.2 Europe Thermal Management Market Facts & Figures by Country (2020-2031)
8.3 Europe Thermal Management Revenue by Type (2020-2025)
8.4 Europe Thermal Management Revenue by Application (2020-2025)
9 Latin America
9.1 Latin America Thermal Management Market Size YoY Growth 2020-2031
9.2 Latin America Thermal Management Market Facts & Figures by Country (2020-2031)
9.3 Latin America Thermal Management Revenue by Type (2020-2025)
9.4 Latin America Thermal Management Revenue by Application (2020-2025)
10 Middle East and Africa
10.1 Latin America Thermal Management Market Size YoY Growth 2020-2031
10.2 Middle East and Africa Thermal Management Market Facts & Figures by Country (2020-2031)
10.3 Middle East and Africa Thermal Management Revenue by Type (2020-2025)
10.4 Middle East and Africa Thermal Management Revenue by Application (2020-2025)
11 Supply Chain and Sales Channel analysis
11.1 Thermal Management Supply Chain Analysis
11.2 Thermal Management Key Raw Materials and Upstream Suppliers
11.3 Thermal Management Clients Analysis
11.4 Thermal Management Sales Channel and Sales Model Analysis
11.4.1 Thermal Management Distribution Channel Analysis: Indirect Sales VS Direct Sales
11.4.2 Thermal Management Distribution Channel Analysis: Online Sales VS Offline Sales
11.4.3 Thermal Management Distributors
12 Thermal Management Market Dynamics
12.1 Thermal Management Industry Trends
12.2 Thermal Management Market Drivers
12.3 Thermal Management Market Challenges
12.4 Thermal Management Market Restraints
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.1.1 Research Programs/Design
14.1.1.2 Market Size Estimation
14.1.1.3 Market Breakdown and Data Triangulation
14.1.2 Data Source
14.1.2.1 Secondary Sources
14.1.2.2 Primary Sources
14.2 Author Details
14.3 Disclaimer
TABLE OF FIGURES
List of Tables
List of Figures
KEY QUESTIONS ADDRESSED BY THE REPORT
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REPORT COVERAGE
DESCRIPTION
OVERVIEW
MARKET SEGMENTATION
REPORT SCOPE
CHAPTER OUTLINE
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
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