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 $6,791.3 million 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.
Free Valuable Insights: The Thermal Management Technologies Market is Predict to reach USD 27.4 Billion by 2031, at a CAGR of 9.9%
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
North America Thermal Management Technologies 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
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Thermal Management Technologies Market, by Material
1.4.2 North America Thermal Management Technologies Market, by Device
1.4.3 North America Thermal Management Technologies Market, by Service
1.4.4 North America Thermal Management Technologies Market, by End-use
1.4.5 North America Thermal Management Technologies Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.2.4 Geographical Expansion
4.3 Market Share Analysis, 2023
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
4.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2021, Jun – 2024, Jul) Leading Players
4.5 Porter Five Forces Analysis
Chapter 5. North America Thermal Management Technologies Market by Material
5.1 North America Adhesive Material Market by Region
5.2 North America Non-adhesive Material Market by Region
Chapter 6. North America Thermal Management Technologies Market by Device
6.1 North America Conduction Cooling Device Market by Country
6.2 North America Convection Cooling Devices Market by Country
6.3 North America Advanced Cooling Devices Market by Country
6.4 North America Other Device Market by Country
Chapter 7. North America Thermal Management Technologies Market by Service
7.1 North America Installation & Calibration Market by Country
7.2 North America Optimization & Post Sales Service Market by Country
Chapter 8. North America Thermal Management Technologies Market by End-use
8.1 North America Consumer Electronics Market by Country
8.2 North America Service & Data Centers Market by Country
8.3 North America Automotive Market by Country
8.4 North America Healthcare Market by Country
8.5 North America Other End-use Market by Country
Chapter 9. North America Thermal Management Technologies Market by Country
9.1 US Thermal Management Technologies Market
9.1.1 US Thermal Management Technologies Market by Material
9.1.2 US Thermal Management Technologies Market by Device
9.1.3 US Thermal Management Technologies Market by Service
9.1.4 US Thermal Management Technologies Market by End-use
9.2 Canada Thermal Management Technologies Market
9.2.1 Canada Thermal Management Technologies Market by Material
9.2.2 Canada Thermal Management Technologies Market by Device
9.2.3 Canada Thermal Management Technologies Market by Service
9.2.4 Canada Thermal Management Technologies Market by End-use
9.3 Mexico Thermal Management Technologies Market
9.3.1 Mexico Thermal Management Technologies Market by Material
9.3.2 Mexico Thermal Management Technologies Market by Device
9.3.3 Mexico Thermal Management Technologies Market by Service
9.3.4 Mexico Thermal Management Technologies Market by End-use
9.4 Rest of North America Thermal Management Technologies Market
9.4.1 Rest of North America Thermal Management Technologies Market by Material
9.4.2 Rest of North America Thermal Management Technologies Market by Device
9.4.3 Rest of North America Thermal Management Technologies Market by Service
9.4.4 Rest of North America Thermal Management Technologies Market by End-use
Chapter 10. Company Profiles
10.1 Schneider Electric SE
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 Recent strategies and developments:
10.1.5.1 Geographical Expansions:
10.1.6 SWOT Analysis
10.2 Delta Electronics, Inc.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.5.2 Product Launches and Product Expansions:
10.2.5.3 Acquisition and Mergers:
10.2.5.4 Geographical Expansions:
10.3 Honeywell International, Inc.
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expenses
10.3.5 Recent strategies and developments:
10.3.5.1 Partnerships, Collaborations, and Agreements:
10.3.5.2 Product Launches and Product Expansions:
10.3.5.3 Acquisition and Mergers:
10.3.6 SWOT Analysis
10.4 Siemens AG
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 Recent strategies and developments:
10.4.5.1 Product Launches and Product Expansions:
10.4.6 SWOT Analysis
10.5 STMicroelectronics N.V.
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 SWOT Analysis
10.6 3M Company
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments:
10.6.5.1 Product Launches and Product Expansions:
10.6.6 SWOT Analysis
10.7 Vertiv Holdings Co.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Regional Analysis
10.7.4 Recent strategies and developments:
10.7.4.1 Partnerships, Collaborations, and Agreements:
10.7.4.2 Product Launches and Product Expansions:
10.7.4.3 Acquisition and Mergers:
10.7.4.4 Geographical Expansions:
10.8 Eaton Corporation PLC
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expense
10.8.5 Recent strategies and developments:
10.8.5.1 Partnerships, Collaborations, and Agreements:
10.8.5.2 Acquisition and Mergers:
10.8.6 SWOT Analysis
10.9 ANSYS, Inc.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Regional Analysis
10.9.4 Research & Development Expenses
10.9.5 Recent strategies and developments:
10.9.5.1 Partnerships, Collaborations, and Agreements:
10.9.6 SWOT Analysis
10.10. Parker Hannifin Corporation
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research & Development Expenses
10.10.5 Recent strategies and developments:
10.10.5.1 Product Launches and Product Expansions:
10.10.5.2 Acquisition and Mergers:
10.10.6 SWOT Analysis
TABLE 1 North America Thermal Management Technologies Market, 2020 - 2023, USD Million
TABLE 2 North America Thermal Management Technologies Market, 2024 - 2031, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Thermal Management Technologies Market
TABLE 4 Product Launches And Product Expansions– Thermal Management Technologies Market
TABLE 5 Acquisition and Mergers– Thermal Management Technologies Market
TABLE 6 Geographical Expansion– Thermal Management Technologies Market
TABLE 7 North America Thermal Management Technologies Market by Material, 2020 - 2023, USD Million
TABLE 8 North America Thermal Management Technologies Market by Material, 2024 - 2031, USD Million
TABLE 9 North America Adhesive Material Market by Region, 2020 - 2023, USD Million
TABLE 10 North America Adhesive Material Market by Region, 2024 - 2031, USD Million
TABLE 11 North America Non-adhesive Material Market by Region, 2020 - 2023, USD Million
TABLE 12 North America Non-adhesive Material Market by Region, 2024 - 2031, USD Million
TABLE 13 North America Thermal Management Technologies Market by Device, 2020 - 2023, USD Million
TABLE 14 North America Thermal Management Technologies Market by Device, 2024 - 2031, USD Million
TABLE 15 North America Conduction Cooling Device Market by Country, 2020 - 2023, USD Million
TABLE 16 North America Conduction Cooling Device Market by Country, 2024 - 2031, USD Million
TABLE 17 North America Convection Cooling Devices Market by Country, 2020 - 2023, USD Million
TABLE 18 North America Convection Cooling Devices Market by Country, 2024 - 2031, USD Million
TABLE 19 North America Advanced Cooling Devices Market by Country, 2020 - 2023, USD Million
TABLE 20 North America Advanced Cooling Devices Market by Country, 2024 - 2031, USD Million
TABLE 21 North America Other Device Market by Country, 2020 - 2023, USD Million
TABLE 22 North America Other Device Market by Country, 2024 - 2031, USD Million
TABLE 23 North America Thermal Management Technologies Market by Service, 2020 - 2023, USD Million
TABLE 24 North America Thermal Management Technologies Market by Service, 2024 - 2031, USD Million
TABLE 25 North America Installation & Calibration Market by Country, 2020 - 2023, USD Million
TABLE 26 North America Installation & Calibration Market by Country, 2024 - 2031, USD Million
TABLE 27 North America Optimization & Post Sales Service Market by Country, 2020 - 2023, USD Million
TABLE 28 North America Optimization & Post Sales Service Market by Country, 2024 - 2031, USD Million
TABLE 29 North America Thermal Management Technologies Market by End-use, 2020 - 2023, USD Million
TABLE 30 North America Thermal Management Technologies Market by End-use, 2024 - 2031, USD Million
TABLE 31 North America Consumer Electronics Market by Country, 2020 - 2023, USD Million
TABLE 32 North America Consumer Electronics Market by Country, 2024 - 2031, USD Million
TABLE 33 North America Service & Data Centers Market by Country, 2020 - 2023, USD Million
TABLE 34 North America Service & Data Centers Market by Country, 2024 - 2031, USD Million
TABLE 35 North America Automotive Market by Country, 2020 - 2023, USD Million
TABLE 36 North America Automotive Market by Country, 2024 - 2031, USD Million
TABLE 37 North America Healthcare Market by Country, 2020 - 2023, USD Million
TABLE 38 North America Healthcare Market by Country, 2024 - 2031, USD Million
TABLE 39 North America Other End-use Market by Country, 2020 - 2023, USD Million
TABLE 40 North America Other End-use Market by Country, 2024 - 2031, USD Million
TABLE 41 North America Thermal Management Technologies Market by Country, 2020 - 2023, USD Million
TABLE 42 North America Thermal Management Technologies Market by Country, 2024 - 2031, USD Million
TABLE 43 US Thermal Management Technologies Market, 2020 - 2023, USD Million
TABLE 44 US Thermal Management Technologies Market, 2024 - 2031, USD Million
TABLE 45 US Thermal Management Technologies Market by Material, 2020 - 2023, USD Million
TABLE 46 US Thermal Management Technologies Market by Material, 2024 - 2031, USD Million
TABLE 47 US Thermal Management Technologies Market by Device, 2020 - 2023, USD Million
TABLE 48 US Thermal Management Technologies Market by Device, 2024 - 2031, USD Million
TABLE 49 US Thermal Management Technologies Market by Service, 2020 - 2023, USD Million
TABLE 50 US Thermal Management Technologies Market by Service, 2024 - 2031, USD Million
TABLE 51 US Thermal Management Technologies Market by End-use, 2020 - 2023, USD Million
TABLE 52 US Thermal Management Technologies Market by End-use, 2024 - 2031, USD Million
TABLE 53 Canada Thermal Management Technologies Market, 2020 - 2023, USD Million
TABLE 54 Canada Thermal Management Technologies Market, 2024 - 2031, USD Million
TABLE 55 Canada Thermal Management Technologies Market by Material, 2020 - 2023, USD Million
TABLE 56 Canada Thermal Management Technologies Market by Material, 2024 - 2031, USD Million
TABLE 57 Canada Thermal Management Technologies Market by Device, 2020 - 2023, USD Million
TABLE 58 Canada Thermal Management Technologies Market by Device, 2024 - 2031, USD Million
TABLE 59 Canada Thermal Management Technologies Market by Service, 2020 - 2023, USD Million
TABLE 60 Canada Thermal Management Technologies Market by Service, 2024 - 2031, USD Million
TABLE 61 Canada Thermal Management Technologies Market by End-use, 2020 - 2023, USD Million
TABLE 62 Canada Thermal Management Technologies Market by End-use, 2024 - 2031, USD Million
TABLE 63 Mexico Thermal Management Technologies Market, 2020 - 2023, USD Million
TABLE 64 Mexico Thermal Management Technologies Market, 2024 - 2031, USD Million
TABLE 65 Mexico Thermal Management Technologies Market by Material, 2020 - 2023, USD Million
TABLE 66 Mexico Thermal Management Technologies Market by Material, 2024 - 2031, USD Million
TABLE 67 Mexico Thermal Management Technologies Market by Device, 2020 - 2023, USD Million
TABLE 68 Mexico Thermal Management Technologies Market by Device, 2024 - 2031, USD Million
TABLE 69 Mexico Thermal Management Technologies Market by Service, 2020 - 2023, USD Million
TABLE 70 Mexico Thermal Management Technologies Market by Service, 2024 - 2031, USD Million
TABLE 71 Mexico Thermal Management Technologies Market by End-use, 2020 - 2023, USD Million
TABLE 72 Mexico Thermal Management Technologies Market by End-use, 2024 - 2031, USD Million
TABLE 73 Rest of North America Thermal Management Technologies Market, 2020 - 2023, USD Million
TABLE 74 Rest of North America Thermal Management Technologies Market, 2024 - 2031, USD Million
TABLE 75 Rest of North America Thermal Management Technologies Market by Material, 2020 - 2023, USD Million
TABLE 76 Rest of North America Thermal Management Technologies Market by Material, 2024 - 2031, USD Million
TABLE 77 Rest of North America Thermal Management Technologies Market by Device, 2020 - 2023, USD Million
TABLE 78 Rest of North America Thermal Management Technologies Market by Device, 2024 - 2031, USD Million
TABLE 79 Rest of North America Thermal Management Technologies Market by Service, 2020 - 2023, USD Million
TABLE 80 Rest of North America Thermal Management Technologies Market by Service, 2024 - 2031, USD Million
TABLE 81 Rest of North America Thermal Management Technologies Market by End-use, 2020 - 2023, USD Million
TABLE 82 Rest of North America Thermal Management Technologies Market by End-use, 2024 - 2031, USD Million
TABLE 83 Key Information – Schneider Electric SE
TABLE 84 Key Information – Delta Electronics, Inc.
TABLE 85 Key Information – Honeywell International, Inc.
TABLE 86 Key Information – Siemens AG
TABLE 87 Key Information – STMicroelectronics N.V.
TABLE 88 Key Information – 3M Company
TABLE 89 Key Information – Vertiv Holdings Co.
TABLE 90 Key Information – Eaton Corporation PLC
TABLE 91 Key Information – ANSYS, Inc.
TABLE 92 Key Information – Parker Hannifin Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Thermal Management Technologies Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Thermal Management Technologies Market
FIG 4 KBV Cardinal Matrix
FIG 5 Market Share Analysis, 2023
FIG 6 Key Leading Strategies: Percentage Distribution (2020-2024)
FIG 7 Key Strategic Move: (Product Launches and Product Expansions : 2021, Jun – 2024, Jul) Leading Players
FIG 8 Porter’s Five Forces Analysis – Thermal Management Technologies Market
FIG 9 North America Thermal Management Technologies Market share by Material, 2023
FIG 10 North America Thermal Management Technologies Market share by Material, 2031
FIG 11 North America Thermal Management Technologies Market by Material, 2020 - 2031, USD Million
FIG 12 North America Thermal Management Technologies Market share by Device, 2023
FIG 13 North America Thermal Management Technologies Market share by Device, 2031
FIG 14 North America Thermal Management Technologies Market by Device, 2020 - 2031, USD Million
FIG 15 North America Thermal Management Technologies Market share by Service, 2023
FIG 16 North America Thermal Management Technologies Market share by Service, 2031
FIG 17 North America Thermal Management Technologies Market by Service, 2020 - 2031, USD Million
FIG 18 North America Thermal Management Technologies Market share by End-use, 2023
FIG 19 North America Thermal Management Technologies Market share by End-use, 2031
FIG 20 North America Thermal Management Technologies Market by End-use, 2020 - 2031, USD Million
FIG 21 North America Thermal Management Technologies Market share by Country, 2023
FIG 22 North America Thermal Management Technologies Market share by Country, 2031
FIG 23 North America Thermal Management Technologies Market by Country, 2020 - 2031, USD Million
FIG 24 SWOT Analysis: Schneider Electric SE
FIG 25 Recent strategies and developments: Delta Electronics, Inc.
FIG 26 Recent strategies and developments: Honeywell international, inc.
FIG 27 Swot analysis: Honeywell international, inc.
FIG 28 SWOT Analysis: Siemens AG
FIG 29 SWOT Analysis: STMicroelectronics N.V.
FIG 30 SWOT Analysis: 3M Company
FIG 31 Recent strategies and developments: Vertiv Holdings Co.
FIG 32 Recent strategies and developments: Eaton Corporation PLC
FIG 33 SWOT Analysis: Eaton Corporation PLC
FIG 34 SWOT analysis: ANSYS, Inc.
FIG 35 Recent strategies and developments: Parker Hannifin Corporation
FIG 36 SWOT Analysis: Parker Hannifin Corporation