Posted 12/13/2023, 8:41:00 AM
Global Thermal Management Systems Market to Reach $85 Billion by 2030, Driven by Automotive and Consumer Electronics Demand
- Global thermal management system market valued at USD 54.28 billion in 2022, expected to reach USD 85.49 billion by 2030 with a 6% CAGR
- Market covers equipment like heat exchangers, hoses, valves, controllers across industries including automotive and consumer electronics
- COVID-19 negatively impacted market growth due to manufacturing and plant closures
- Asia Pacific led market in 2022 given rapid growth in consumer electronics and automobiles
- Key players focusing on next-generation thermal systems to gain competitive edge