Thermal Management Market Size

Market Size in USD Bn

CAGR10.3%

Study Period	2025-2032
Base Year of Estimation	2024
CAGR	10.3%
Market Concentration	Medium
Major Players	Honeywell International Inc., Vertiv Holdings Co., Boyd Corporation, Laird Thermal Systems, Advanced Cooling Technologies, Inc. and Among Others

*Disclaimer: Major players are listed in no particular order.

*Source: Coherent Market Insights

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Thermal Management Market Analysis

The thermal management market is estimated to be valued at USD 16.84 Bn in 2025 and is expected to reach USD 33.45 Bn by 2032, growing at a compound annual growth rate (CAGR) of 10.3% from 2025 to 2032. The thermal management market is expected to grow significantly due to increasing need to manage heat generated by devices with growing processing power.