Market for thermal management technologies
The global market for thermal management technologies was valued at $16.1 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.5% to reach $26.1 billion by 2028. Thermal management technologies are used to maintain the temperature of a system. With the development of smaller and smaller electronics, thermal management technologies have become more necessary to safeguard product performance and reliability by reducing the heat generated by the devices.