Thermal management technology comprises of the utilization of various heat transfer techniques, through which heat can be removed from one place to another. These solutions generally rely heavily on convection, on account of its efficacy. There are various cooling techniques involved such as different forms of heat sinks, forced air systems and fans, thermoelectric coolers and heat pipes, among others. The continued growth in the usage of electronic devices, along with growth of the automotive sector across the globe, has necessitated the presence of thermal management technologies market.
There has been an explosive growth in the number of electronic device manufacturers worldwide, with the core aim being to make the devices as small, light and efficient as possible. There is a need to fit maximum components in the minimum space, which has led to increased power densities. Thermal management technology helps in maintaining the device temperature through the efficient dissipation of heat, and miniaturized components need such systems to ensure reliability and safety of the device in the long run.
Currently, most of the smartphones in the market weight anywhere between 150-200 grams, while offering high performance features, multiple camera setups as well as advanced AI. Laptops have also seen a drastic reduction in their overall weights, while simultaneously offering better performance, with many high-end offerings from brands such as Lenovo, Dell and Apple weighing between 2-3 lbs. This calls for smart utilization of the hardware space, so that all the components can be fit optimally, while also allowing for proper ventilation. This is a major factor driving the global thermal management technologies market.
According to the measurement company Zenith, an average smartphone user in the US spends 3.5 hours per day on their device being online. Increased usage of performance heavy features on these devices, such as streaming movies and shows, as well as playing graphics-intensive games, can lead to significant warming, which in the absence of thermal management, may ultimately lead to shorter lifespan of smartphones, or significant performance drops. Desktops and laptops are also currently needed to handle a range of tasks, from the less intensive such as creating documents or browsing the web, to more intensive such as playing the latest games. As such, thermal management technology has become a mainstay for laptops.
The growth of the automotive sector in the past few years has led to the positive development of the thermal management technologies market. The growing demand for electric vehicles across the globe has consequently increased the need for heat dissipation in electric motors. According to the Edison Electric Institute, as of March 2019, there are around 1.2 million EVs on the road in the United States. Strict federal regulations and guidelines regarding vehicular emissions, along with the targets set by various countries about meeting pollution control objectives, has also created a positive environment for the market.
In terms of product, the thermal management technologies market has been segmented into hardware, software, interface and substrates segment. The hardware segment is expected to remain a dominant segment in the next 4-5 years, on account of the continuous increase in miniaturized microprocessor production. Moreover, organizations are ramping up their efforts to increase energy efficiency and reduce their carbon footprint, which has led to increased penetration of energy-efficient systems and devices. The interface segment is expected to witness considerable growth in the coming years, as they are major heat dissipation solutions for portable and compact electronic devices, such as smartphones and tablets.
The Asia Pacific region is expected to be a major contributor to the global market revenue for thermal management technologies, on account of the growing demand for consumer electronics products, as well as the increasing automotive sales in the region. Moreover, the promotion of renewable energy sources such as solar cells by the governments is also expected to drive this market in near future. Europe is expected to be another critical regional market, on account of the presence of many advanced electronic designing and R&D facilities in countries, such as Germany and the UK.
Recent Developments
In May 2020, Laird Thermal Systems announced the launch of the Nextreme Recirculating Chiller platform, the company’s next generation of eco-friendly recirculating chillers for precise temperature control of analytical, medical and industrial equipment. The chiller makes use of high-performance variable speed motors for noise reduction, lower room heat input and reduced energy consumption by up to 50%, when compared to conventional compressor-based systems.
In February 2020, Advanced Cooling Technologies received funding from the Navy for the second phase of the Small Business Innovative Research (SBIR) program, “Advanced Cooling Options for Multifunctional Information Distribution System (MIDS) Joint Tactical Radio System (JTRS) Terminals”. As part of the program, ACT is developing an innovative thermal management system for MIDS JTRS terminals that would improve the cooling performance of the system.
In February 2020, Honeywell extended the offerings of its Thermal IQ™ platform, with the launch of Thermal IQ Optimize, an enterprise-level remote monitoring solution. This offering ensures the safety and efficiency of thermal process equipment by providing users with real-time analytics and fault modeling with early event detection at plant, equipment and process level.
