The North America Thermal Management Technologies Market would witness market growth of 9.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Thermal Management Technologies Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.79 billion by 2031. The Canada market is experiencing a CAGR of 11.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.7% during (2024 - 2031).
At its core, thermal management encompasses various techniques, materials, and systems designed to control the temperature of devices and machinery, ensuring they operate within safe limits. If not properly managed, heat can cause various issues, including device malfunction, degradation of materials, and even catastrophic failure.
Additionally, in electronic devices, overheating can lead to performance drops, reduced battery life, and, in extreme cases, permanent damage to components. Thermal management solutions such as heat sinks, fans, liquid cooling systems, phase-change materials, and advanced thermal interface materials (TIMs) are deployed to prevent these outcomes.
The North American market for this is undergoing substantial growth, primarily due to the development of the healthcare sector in the United States, Canada, and Mexico. The region’s healthcare industry, valued at trillions of dollars, is embracing technological advancements that require efficient cooling solutions to maintain the performance and safety of medical devices.
Based on Material, the market is segmented into Adhesive Material, and Non-adhesive Material. Based on Device, the market is segmented into Conduction Cooling Device, Convection Cooling Devices, Advanced Cooling Devices, and Other Device. Based on Service, the market is segmented into Installation & Calibration, and Optimization & Post Sales Service. Based on End-use, the market is segmented into Consumer Electronics, Service & Data Centers, Automotive, Healthcare, and Other End-use. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The US market dominated the North America Thermal Management Technologies Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.79 billion by 2031. The Canada market is experiencing a CAGR of 11.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.7% during (2024 - 2031).
At its core, thermal management encompasses various techniques, materials, and systems designed to control the temperature of devices and machinery, ensuring they operate within safe limits. If not properly managed, heat can cause various issues, including device malfunction, degradation of materials, and even catastrophic failure.
Additionally, in electronic devices, overheating can lead to performance drops, reduced battery life, and, in extreme cases, permanent damage to components. Thermal management solutions such as heat sinks, fans, liquid cooling systems, phase-change materials, and advanced thermal interface materials (TIMs) are deployed to prevent these outcomes.
The North American market for this is undergoing substantial growth, primarily due to the development of the healthcare sector in the United States, Canada, and Mexico. The region’s healthcare industry, valued at trillions of dollars, is embracing technological advancements that require efficient cooling solutions to maintain the performance and safety of medical devices.
Based on Material, the market is segmented into Adhesive Material, and Non-adhesive Material. Based on Device, the market is segmented into Conduction Cooling Device, Convection Cooling Devices, Advanced Cooling Devices, and Other Device. Based on Service, the market is segmented into Installation & Calibration, and Optimization & Post Sales Service. Based on End-use, the market is segmented into Consumer Electronics, Service & Data Centers, Automotive, Healthcare, and Other End-use. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Schneider Electric SE
- Delta Electronics, Inc.
- Honeywell International Inc.
- Siemens AG
- STMicroelectronics N.V.
- 3M Company
- Vertiv Holdings Co.
- Eaton Corporation plc
- ANSYS, Inc.
- Parker Hannifin Corporation
Market Report Segmentation
By Material
- Adhesive Material
- Non-adhesive Material
By Device
- Conduction Cooling Device
- Convection Cooling Devices
- Advanced Cooling Devices
- Other Device
By Service
- Installation & Calibration
- Optimization & Post Sales Service
By End-use
- Consumer Electronics
- Service & Data Centers
- Automotive
- Healthcare
- Other End-use
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Thermal Management Technologies Market by Material
Chapter 6. North America Thermal Management Technologies Market by Device
Chapter 7. North America Thermal Management Technologies Market by Service
Chapter 8. North America Thermal Management Technologies Market by End-use
Chapter 9. North America Thermal Management Technologies Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Schneider Electric SE
- Delta Electronics, Inc.
- Honeywell International Inc.
- Siemens AG
- STMicroelectronics N.V.
- 3M Company
- Vertiv Holdings Co.
- Eaton Corporation plc
- ANSYS, Inc.
- Parker Hannifin Corporation
Methodology
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