Thermal Management Technologies Market Report
According to a new report entitled “The Market for Thermal Management Technologies“, global market for thermal management products is expected to grow from about $10.1 billion in 2013 to $10.6 billion in 2014 and $14.7 billion by 2019, a compound annual growth rate (CAGR) of 6.8% between 2014 and 2019.
Thermal management hardware (e.g., fans and blowers, heat sinks, etc.) account for about 80% of the total thermal management market. The other main thermal management product segments:
… each account for between 5% and 7% of the market.
The largest end markets for thermal management products in 2011 were the computer industry (50.8% of total revenues), telecommunications (16.8%), and medical/office equipment (11.5%). Computers are projected to increase their market share to 57.1% by 2017, while telecommunications applications’ share drops to 13.6%. Medical/office equipment’s share should remain steady at around 11.5%.
The North American market should maintain its number one position throughout the period under review, with a market share of about 37%, followed by Asia-Pacific with around 25%. The Asia-Pacific countries (except Japan) are not only the second-largest market in absolute terms, but they also have the highest projected growth rate (i.e., a CAGR of 9% between 2012 and 2017).
The overall goal of this report is to provide an analysis of the most recent developments and current trends in the global thermal management marketplace.