Thermal Market – Development of Novel Thermoelectric Materials Widens Expanse

In thermoelectric energy generation environments, the advent of a newer thermoelectric material for thermal products is a breakthrough to capture residual energy. This energy is usually lost during the regular process of the conversion of waste heat into electricity. Based on common semiconductor telluride, the new material is environmentally-stable, and is expected to capture 15 to 20 percent of waste heat into electricity. This strengthens the correlation between thermoelectric materials and the thermoelectric effect. Based on the merits exhibited, the new material is gauged to have a 2.2 thermoelectric figure of merit (ZT), the highest among thermoelectric materials available so far. Meanwhile, under laws of thermoelectricity, the higher ZT of a material connotes higher efficiency for converting heat into electricity.

Such developments point at a positive outlook for the uptake of thermoelectric-based HVAC cooling systems in industrial and commercial environments. For instance, HVAC cooling systems based on the Seebeck effect that create voltage from temperature difference are increasingly being installed. Such moves are aimed to comply with governmental guidelines for energy-efficient processes and to reduce wastage of energy.

Exponential growth of the IT & telecommunications sector has indirectly led to a spurt in the demand for thermal products. HVAC cooling systems that use thermal products find wide use for cooling servers and computers. This serves to boost the thermal market, indirectly. Expansion of the food and beverage sector in developing economies such as India has indirectly led to a spurt in demand within the thermal market. Strong macro-economic indicators, reforms, and liberalized foreign direct investment have massively expanded the scope of individual operations for the production of food and beverages. Food production, packaging, shipping, and distribution are some energy-hungry operations in the food and beverage sector. Such operations heavily depend upon HVAC systems to maintain optimum indoor temperatures on shop floors.

thermal market infographic

While thermoelectric systems are mostly used in cooling devices, these systems find use in the heating devices of HVAC systems. This further expands the scope of demand for thermal products, translating into growth for the thermal market.

Finding applications in high economic value end-use industries, thermal products and the associated thermal market are poised for significant growth. This aroused interest of Transparency Market Research to release a market intelligence publication of the thermal market. Following extensive research and employing standard analytical tools, TMR forecasts the global thermal market to rise at a ~5% CAGR during the forecast period of 2019 to 2027.

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Thermal Market – Notable Trends

Serving High-economic Value End-use Industries, Cooling Equipment to Remain at the Fore

Among the key product types, the liquid cooling system segment is poised to display significant growth in the thermal market over the forecast period. The growth of this segment mainly stems to serve the demand of the IT & telecommunication sector, which is booming with digitalization in almost every walk of life. Serving this, liquid cooling systems are predicted to register a leading CAGR among other products in the thermal market during the forecast period.

On the other hand, the cooling equipment product segment holds a leading share in the thermal market, which is predicted to continue over the forecast period. This is because of the vast demand for cooling equipment from several end-use industries of high economic significance, including oil & gas, food & beverages, and chemicals & petroleum.

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IT & Telecommunications End-use Industry Displays Leading Demand

By end-use industry, the heavy metals and manufacturing industry holds a lion’s share in the thermal market, and is predicted to maintain its share over the forecast period.

Nonetheless, the IT & telecommunications sector is predicted to emerge as a significant end-use industry in the thermal market. Vast expansion of the IT sector to support mammoth volumes of data generated from commercial, industrial, and domestic sectors has led to a stir in the demand for core and support equipment. IT systems of large organizations with multiple servers require 24x7 uptime to serve employees working from multiple locations. This requires reliable cooling equipment to minimize the downtime of these IT systems. Cooling equipment plays a key role here, which, in turn, stimulates the growth of the thermal market.

In a moving vehicles, a large amount of heat is generated in the engine every time the spark plug ignites fuel in each cylinder to propel the vehicle. A cooling system plays a crucial role here to control these high temperatures so as to maintain a comfortable interior temperature for the passengers.

Thermal Market segmentation

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Thermal Market – Winning Imperatives

Changing Scope of Automotive Manufacturing Assembly to Instill Demand for Thermal Products

Changing consumer expectations from automobiles has led to a sea of change in the processes in the entire automotive ecosystem. Autonomous vehicles, biometric access for vehicles, and parameters of increased safety have led to requirements of several other energy-driven equipment and processes. This includes an array of thermal products such as heat sinks and heating equipment for the two-way transfer of heat. Such assemblies are examples of the Seebeck-Peltier effect for the transfer of heat and potential difference, and vice-versa.

The ceaseless adoption of consumer electronics is also creating demand for thermal products and equipment. Vast technological innovations and advancements in the manufacture of consumer electronics have led to newer assembly and manufacturing environments for these products.

Emergence of Cutting-edge Digital Technologies Extends Growth Opportunities

The reshaping of the telecom sector over the past few years and adoption of cutting-edge technologies such as cloud computing and 5G technology have influenced the demand for thermal products to a great extent, in turn, fueling the growth of the market. The scope of development of new thermal technologies serves to provide lucrative opportunities for players in the thermal market. To leverage this, extensive R&D to develop equipment for various ambient temperatures is what savvy players are banking on for growth.

Thermal Market – Competitive Landscape

From a competitive standpoint, the thermal market features a fragmented vendor landscape, including established and emerging players. Nonetheless, leading players having a long presence in the market hold ~one-third share of the overall thermal market. Keen players vying to consolidate their position are focused on R&D. These companies are striving to develop next-generation thermal products to be compatible with the manufacturing assembly lines of advanced automobile companies.

The development of novel thermal products to cut energy costs is also the focus of keen players in the thermal market. For example, DCX The Liquid Cooling Company is focused on saving the energy consumption of industrial systems by almost 50%, and cutting the CAPEX and OPEX costs of running IT and telecom infrastructures.

Acquisitions and collaborations are also some growth strategies that players in the thermal market have resorted to. In a recent industry development, SPX Corporation – an Illinois-based company, completed the acquisition of Sabik Marine and Obstruction lighting business.

  • According  to Transparency Market Research’s latest market report on the global thermal market for the historical year 2017 and the forecast period of 2019–2027, the rising demand for thermal products in the IT & telecommunications sector, and technological advancements in thermal products employed in various end-use industries, are expected to drive the global thermal market during the forecast period.
  • In terms of revenue, the global thermal market is estimated to reach a value of ~US$ 137 Bn by the end of 2019, expanding at a CAGR of ~5% throughout the forecast period. In terms of volume, the global market is estimated to reach ~545,000 thousand units by the end of 2019.

Increasing Use of Thermal Products in Food and Beverages a Key Market Driver

  • Food & beverages is one of the rapidly expanding industries. Strong macro-economic indicators, liberalized foreign direct investments (FDIs), and economic reforms have given rise to the development of the production, processing, marketing, and distribution of food and beverages.
  • The food & beverage industry requires appropriate heating and cooling devices for storage purposes. For this, the industry makes use of portable food containers, small refrigerators, beer cabinets, and chilled water dispensers.
  • Thus, food & beverages is expected to be a highly lucrative end-use industry segment of the global thermal market during the forecast period.

Development of Energy-efficient Systems Latest Trend Being Adopted by Key Market Players

  • Space heating and cooling requirements account for a significant portion of household energy bills, and this is a major deterrent for the end users of HVAC systems.
  • However, with governments enforcing stringent energy regulations and manufacturers developing more efficient systems, more number of consumers are expected to install HVAC systems in the near future.
  • Also, the introduction of energy-efficient air conditioning systems would help in reducing electricity bills and lower carbon emissions also.
    • Toshiba has developed a new air-conditioner under its super heat recovery ‘VRF’ category, which has a SEER rating of 8. Hitachi has also launched a new addition to its FSXN product series, which is the high-efficiency set-free FSXNH. The product has a higher energy efficiency ratio than its predecessors.

Sluggish Growth of Markets in Europe and North America a Major Challenge

  • Industrial expansions have considerably slowed down in several developed countries of Europe and North America.
  • Since several thermal products and equipment are largely used in industries, the thermal markets in these regions are expected to witness sluggish growth during the forecast period.

Global Thermal Market: Competition Landscape

  • Detailed profiles of the manufacturers of thermal products have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
  • Key players operating in the global thermal market are
    • Advanced Cooling Technologies
    • AHI Carrier
    • AranerLytron
    • Asetek
    • ASSMANN WSW Components GmbH
    • Bluestar Limited
    • CTS Corporation
    • DCX Sp. z.o.o.
    • DK Thermal Metal Circuit Technology
    • Ferrotec Corporation
    • Henkel AG & Co. KGaA
    • II-VI Incorporated
    • International Thermal Systems
    • JULABO GmbH
    • Keith Company
    • Kelk, Komatsu Ltd.
    • Laird Thermal
    • Lytron
    • Opticool Technologies
    • Polyscience
    • Radian Thermal Products
    • SMC Corporation
    • Subros Limited
    • Thermal Care, Inc.
    • Thermal Engineering Systems
    • Thermo Fisher Scientific
    • Weil-McLain.

Global Thermal Market: Key Developments

Manufacturers operating in the global thermal market, such as Blue Star Limited, Advanced Cooling Technologies, Inc., and ASSMANN WSW Components GmbH, are strengthening their market position by improving product quality and expanding their businesses. Certain key developments in the global thermal market are as follows:

  • In April 2018, Blue Star Limited announced that it would be starting the commercial production at its plant at Sri City, Andhra Pradesh (India), by the end of 2021. In June 2019, the company announced that it had received a contract from Mumbai Metro Rail Corporation Ltd. (MMRCL) for the supply of tunnel ventilation systems and environment control systems.
  • Advanced Cooling Technologies, Inc. consistently invests in research & development to develop new thermal control technologies. Currently, it is amongst the very few U.S.-based companies that manufactures heat pipes and related products for cryogenic, high-temperature, and space applications. Over the last few years, the company has filed more than 5 patents for products such as pumped two-phase air-to-air heat exchangers, constant conductance heat pipe assemblies for high heat flux, and hybrid heat pipes. The company further strategizes on investing in R&D activities for the innovation of new products.
  • In August 2017, ASSMANN WSW Components GmbH extended its product portfolio of finger-, attachable-, and small heat sinks by adding standard parts. These parts are used for the cooling of semiconductor components with low power heat losses in TO-247 and TO-220 packages.

The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global thermal market.

Thermal Market – Scope of the Report

Transparency Market Research’s recent publication on the thermal market, based on a comprehensive analysis, serves as a valuable instrument for its readers. This research publication on the thermal market analyzes the landscape for the 2019-2027 forecast period, wherein, 2018 is the base year. The wealth of information presented in this study enables market stakeholders to formulate winning strategies for future moves in the thermal market.

This research publication on the thermal market discusses past and current growth trends at length, and how these are likely to impact the growth of the said market over the forecast period. Porter’s Five Forces Analysis, value chain analysis, and SWOT analysis of the thermal market provides know-how of crucial growth tactics and opportunities for market players.

This TMR study on the thermal market also provides information on the recent developments made by key players and stakeholders in this market space. An analysis of the strengths, weaknesses, threats, and opportunities (SWOT) of the market, along with the analysis of vital market indicators prevalent in the thermal market are some other highlights of this study. Featuring this, the report provides a succinct analysis of the thermal market for the period of 2019 to 2027.

Key Questions Answered in this Report on the Thermal Market

  1. How much will the overall revenue generation be in the thermal market by the end of the forecast period?
  2. Which product segment is likely to garner maximum share by 2027?
  3. Which region is likely to dominate in terms of market share by the end of the forecast period?
  4. What are the winning strategies adopted by key stakeholders in the thermal market to consolidate their position?
  5. What are the key developments witnessed in the thermal market?

Thermal Market – Research Methodology and Research Objectives

The report on the thermal market is presented based on an in-depth and comprehensive evaluation of the said market. Analysts carried out extensive primary and secondary research, with opinions from experts to fill in gaps. Secondary sources for research include company websites, government websites, industry websites, journals, and white papers.

The report opens with a preface that sheds light on the scope and objectives behind this study. Following this, the overview section of the report is dedicated to research assumptions and research methodologies. Definitions, terms and terminologies, and abbreviations are also explained in this section. Statistical tools and research methodologies employed explained in this section too.

This is followed by the executive summary section of the report. An easy-to-understand graphic presents the revenue share of each segment and each region in the past, as well as projections at the end of the forecast period. This allows easy comparison where the thermal market stood and where it is headed until the end of the forecast period.

The report on the thermal market then moves on to the market overview section, wherein, analysts furnish details of the current market dynamics. The section also points out the key trends, growth opportunities, and critical restraints in the thermal market, adding value to the significance of this report. Following this is an extensive section on the key market indicators, outlining value for business. The second part of the overview section of the thermal market report comprises Porter’s Five Force Analysis and SWOT analysis, along with compliances in the ambit of thermodynamics ecosystems that were adhered to.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Thermal Market – Segmentation

Product

Liquid Cooling Systems

Thermoelectric

Heat Sinks

Compressors

Heating Equipment

Cooling Equipment

Thermal Interface Materials

Heat Transfer Components

End-use Industry

Aerospace & Defense

Automotive

Chemical & Petrochemical

Consumer Electronics

Energy & Utility

Food & Beverages

Healthcare

Heavy Metals & Machine Manufacturing

IT & Telecommunications

Oil & Gas

Paper & Pulp

Semiconductor & Electronics

Region

North America

Europe

Asia Pacific

Middle East & Africa

South America

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

1. Preface
    1.1. Market Definition and Scope
    1.2. Market Segmentation
    1.3. Key Research Objectives
    1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Thermal Market
4. Market Overview

    4.1. Introduction
    4.2. Market Dynamics
        4.2.1. Drivers
        4.2.2. Restraints
        4.2.3. Opportunities
    4.3. Key Trends Analysis
    4.4. Global Thermal Market Analysis and Forecast, 2017–2027
        4.4.1. Market Revenue Projection (US$ Mn)
        4.4.2. Market Volume Projection (Million Units)
    4.5. Porter’s Five Forces Analysis - Global Thermal Market
    4.6. Market Outlook
5. Thermal Market Analysis and Forecast, By Product
    5.1. Overview & Definitions 
    5.2. Global Thermal Market Size (US$ Mn and Million Units) Forecast, by Product, 2017–2027
        5.2.1. Liquid Cooling Systems
            5.2.1.1. Liquid Heat Exchanger Systems
            5.2.1.2. Compressor-based Systems (Recirculating Chillers)
        5.2.2. Thermoelectric
        5.2.3. Heat Sinks
        5.2.4. Compressors
        5.2.5. Heating Equipment
            5.2.5.1. Furnaces
            5.2.5.2. Heaters
            5.2.5.3. Boilers
        5.2.6. Cooling Equipment 
            5.2.6.1. VRF
            5.2.6.2. Ducted Split/Packaged Units
            5.2.6.3. Split Units
            5.2.6.4. Others
        5.2.7. Thermal Interface Materials (TIMs)
        5.2.8. Heat Transfer Component
            5.2.8.1. Heat Pumps
            5.2.8.2. Fans
            5.2.8.3. Heat Pipes & Plates
    5.3. Product Comparison Matrix
    5.4. Global Thermal Market Attractiveness, by Product
6. Global Thermal Market Analysis and Forecast, by End-use Industry
    6.1. Overview & Definitions 
    6.2. Global Thermal Market Revenue (US$ Mn) Forecast, by End-use Industry, 2017–2027
        6.2.1. Aerospace & Defense
        6.2.2. Automotive
        6.2.3. Chemicals & Petrochemicals
        6.2.4. Consumer Electronics
        6.2.5. Energy & Utilities
        6.2.6. Food & Beverages
        6.2.7. Healthcare
        6.2.8. Heavy Metals & Machine Manufacturing
        6.2.9. IT & Telecommunications
        6.2.10. Oil & Gas
        6.2.11. Paper & Pulp
        6.2.12. Semiconductors & Electronics
        6.2.13. Others
    6.3. End-use Industry Comparison Matrix
    6.4. Global Thermal Market Attractiveness, by End-use Industry
7. Global Thermal Market Analysis and Forecast, by Region
    7.1. Key Findings
    7.2. Global Thermal Market Size (US$ Mn and Million Units) Forecast, by Region, 2017–2027
        7.2.1. North America
        7.2.2. Europe
        7.2.3. Asia Pacific
        7.2.4. Middle East & Africa
        7.2.5. South America
    7.3. Global Thermal Market Attractiveness, by Region
8. North America Thermal Market Analysis and Forecast 
    8.1. Key Findings
    8.2. North America Thermal Market Size (US$ Mn and Million Units) Forecast, by Product, 2017–2027
        8.2.1. Liquid Cooling Systems
            8.2.1.1. Liquid Heat Exchanger Systems
            8.2.1.2. Compressors-based Systems (Recirculating Chillers)
        8.2.2. Thermoelectric
        8.2.3. Heat Sinks
        8.2.4. Compressors
        8.2.5. Heating Equipment
            8.2.5.1. Furnaces
            8.2.5.2. Heaters
            8.2.5.3. Boilers
        8.2.6. Cooling Equipment 
            8.2.6.1. VRF
            8.2.6.2. Ducted Split/Packaged Units
            8.2.6.3. Split Units
            8.2.6.4. Others
        8.2.7. Thermal Interface Materials (TIMs)
        8.2.8. Heat Transfer Component
            8.2.8.1. Heat Pumps
            8.2.8.2. Fans
            8.2.8.3. Heat Pipes & Plates
    8.3. North America Thermal Market Revenue (US$ Mn) Forecast, by End-use Industry, 2017–2027
        8.3.1. Aerospace & Defense
        8.3.2. Automotive
        8.3.3. Chemicals & Petrochemicals
        8.3.4. Consumer Electronics
        8.3.5. Energy & Utilities
        8.3.6. Food & Beverages
        8.3.7. Healthcare
        8.3.8. Heavy Metals & Machine Manufacturing
        8.3.9. IT & Telecommunications
        8.3.10. Oil & Gas
        8.3.11. Paper & Pulp
        8.3.12. Semiconductors & Electronics
        8.3.13. Others
    8.4. North America Thermal Market Size (US$ Mn and Million Units) Forecast, by Country, 2017–2027
        8.4.1. U.S.
        8.4.2. Canada
        8.4.3. Rest of North America
    8.5. North America Thermal Market Attractiveness Analysis 
        8.5.1. By Product
        8.5.2. By End-use Industry
        8.5.3. By Country/Sub-region
9. Europe Thermal Market Analysis and Forecast 
    9.1. Key Findings
    9.2. Europe Thermal Market Size (US$ Mn and Million Units) Forecast, by Product, 2017–2027
        9.2.1. Liquid Cooling Systems
            9.2.1.1. Liquid Heat Exchanger Systems
            9.2.1.2. Compressors-based Systems (Recirculating Chillers)
        9.2.2. Thermoelectric
        9.2.3. Heat Sinks
        9.2.4. Compressors
        9.2.5. Heating Equipment
            9.2.5.1. Furnaces
            9.2.5.2. Heaters
            9.2.5.3. Boilers
        9.2.6. Cooling Equipment 
            9.2.6.1. VRF
            9.2.6.2. Ducted Split/Packaged Units
            9.2.6.3. Split Units
            9.2.6.4. Others
        9.2.7. Thermal Interface Materials (TIMs)
        9.2.8. Heat Transfer Component
            9.2.8.1. Heat Pumps
            9.2.8.2. Fans
            9.2.8.3. Heat Pipes & Plates
    9.3. Europe Thermal Market Revenue (US$ Mn) Forecast, by End-use Industry, 2017–2027
        9.3.1. Aerospace & Defense
        9.3.2. Automotive
        9.3.3. Chemicals & Petrochemicals
        9.3.4. Consumer Electronics
        9.3.5. Energy & Utilities
        9.3.6. Food & Beverages
        9.3.7. Healthcare
        9.3.8. Heavy Metals & Machine Manufacturing
        9.3.9. IT & Telecommunications
        9.3.10. Oil & Gas
        9.3.11. Paper & Pulp
        9.3.12. Semiconductors & Electronics
        9.3.13. Others
    9.4. Europe Thermal Market Size (US$ Mn and Million Units) Forecast, by Country, 2017–2027
        9.4.1. Germany
        9.4.2. U.K.
        9.4.3. France
        9.4.4. Rest of Europe
    9.5. Europe Thermal Market Attractiveness Analysis 
        9.5.1. By Product
        9.5.2. By End-use Industry
        9.5.3. By Country/Sub-region
10. Asia Pacific Thermal Market Analysis and Forecast 
    10.1. Key Findings
    10.2. Asia Pacific Thermal Market Size (US$ Mn and Million Units) Forecast, by Product, 2017–2027
        10.2.1. Liquid Cooling Systems
            10.2.1.1. Liquid Heat Exchanger Systems
            10.2.1.2. Compressors-based Systems (Recirculating Chillers)
        10.2.2. Thermoelectric
        10.2.3. Heat Sinks
        10.2.4. Compressors
        10.2.5. Heating Equipment
            10.2.5.1. Furnaces
            10.2.5.2. Heaters
            10.2.5.3. Boilers
        10.2.6. Cooling Equipment 
            10.2.6.1. VRF
            10.2.6.2. Ducted Split/Packaged Units
            10.2.6.3. Split Units
            10.2.6.4. Others
        10.2.7. Thermal Interface Materials (TIMs)
        10.2.8. Heat Transfer Component
            10.2.8.1. Heat Pumps
            10.2.8.2. Fans
            10.2.8.3. Heat Pipes & Plates
    10.3. Asia Pacific Thermal Market Revenue (US$ Mn) Forecast, by End-use Industry, 2017–2027
        10.3.1. Aerospace & Defense
        10.3.2. Automotive
        10.3.3. Chemicals & Petrochemicals
        10.3.4. Consumer Electronics
        10.3.5. Energy & Utilities
        10.3.6. Food & Beverages
        10.3.7. Healthcare
        10.3.8. Heavy Metals & Machine Manufacturing
        10.3.9. IT & Telecommunications
        10.3.10. Oil & Gas
        10.3.11. Paper & Pulp
        10.3.12. Semiconductors & Electronics
        10.3.13. Others
    10.4. Asia Pacific Thermal Market Size (US$ Mn and Million Units) Forecast, by Country, 2017–2027
        10.4.1. China
        10.4.2. India
        10.4.3. Japan
        10.4.4. Australia
        10.4.5. Rest of Asia Pacific
    10.5. Asia Pacific Thermal Market Attractiveness Analysis 
        10.5.1. By Product
        10.5.2. By End-use Industry
        10.5.3. By Country/Sub-region
11. Middle East & Africa Thermal Market Analysis and Forecast 
    11.1. Key Findings
    11.2. Middle East & Africa Thermal Market Size (US$ Mn and Million Units) Forecast, by Product, 2017–2027
        11.2.1. Liquid Cooling Systems
            11.2.1.1. Liquid Heat Exchanger Systems
            11.2.1.2. Compressors-based Systems (Recirculating Chillers)
        11.2.2. Thermoelectric
        11.2.3. Heat Sinks
        11.2.4. Compressors
        11.2.5. Heating Equipment
            11.2.5.1. Furnaces
            11.2.5.2. Heaters
            11.2.5.3. Boilers
        11.2.6. Cooling Equipment 
            11.2.6.1. VRF
            11.2.6.2. Ducted Split/Packaged Units
            11.2.6.3. Split Units
            11.2.6.4. Others
        11.2.7. Thermal Interface Materials (TIMs)
        11.2.8. Heat Transfer Component
            11.2.8.1. Heat Pumps
            11.2.8.2. Fans
            11.2.8.3. Heat Pipes & Plates
    11.3. Middle East & Africa Thermal Market Revenue (US$ Mn) Forecast, by End-use Industry, 2017–2027
        11.3.1. Aerospace & Defense
        11.3.2. Automotive
        11.3.3. Chemicals & Petrochemicals
        11.3.4. Consumer Electronics
        11.3.5. Energy & Utilities
        11.3.6. Food & Beverages
        11.3.7. Healthcare
        11.3.8. Heavy Metals & Machine Manufacturing
        11.3.9. IT & Telecommunications
        11.3.10. Oil & Gas
        11.3.11. Paper & Pulp
        11.3.12. Semiconductors & Electronics
        11.3.13. Others
    11.4. Middle East & Africa Thermal Market Size (US$ Mn and Million Units) Forecast, by Country, 2017–2027
        11.4.1. GCC 
        11.4.2. South Africa
        11.4.3. Rest of Middle East & Africa
    11.5. Middle East & Africa Thermal Market Attractiveness Analysis 
        11.5.1. By Product
        11.5.2. By End-use Industry
        11.5.3. By Country/Sub-region
12. South America Thermal Market Analysis and Forecast 
    12.1. Key Findings
    12.2. South America Thermal Market Size (US$ Mn and Million Units) Forecast, by Product, 2017–2027
        12.2.1. Liquid Cooling Systems
            12.2.1.1. Liquid Heat Exchanger Systems
            12.2.1.2. Compressors-based Systems (Recirculating Chillers)
        12.2.2. Thermoelectric
        12.2.3. Heat Sinks
        12.2.4. Compressors
        12.2.5. Heating Equipment
            12.2.5.1. Furnaces
            12.2.5.2. Heaters
            12.2.5.3. Boilers
        12.2.6. Cooling Equipment 
            12.2.6.1. VRF
            12.2.6.2. Ducted Split/Packaged Units
            12.2.6.3. Split Units
            12.2.6.4. Others
        12.2.7. Thermal Interface Materials (TIMs)
        12.2.8. Heat Transfer Component
            12.2.8.1. Heat Pumps
            12.2.8.2. Fans
            12.2.8.3. Heat Pipes & Plates
    12.3. South America Thermal Market Revenue (US$ Mn) Forecast, by End-use Industry, 2017–2027
        12.3.1. Aerospace & Defense
        12.3.2. Automotive
        12.3.3. Chemicals & Petrochemicals
        12.3.4. Consumer Electronics
        12.3.5. Energy & Utilities
        12.3.6. Food & Beverages
        12.3.7. Healthcare
        12.3.8. Heavy Metals & Machine Manufacturing
        12.3.9. IT & Telecommunications
        12.3.10. Oil & Gas
        12.3.11. Paper & Pulp
        12.3.12. Semiconductors & Electronics
        12.3.13. Others
    12.4. South America Thermal Market Size (US$ Mn and Million Units) Forecast, by Country, 2017–2027
        12.4.1. Brazil
        12.4.2. Rest of South America
    12.5. South America Thermal Market Attractiveness Analysis 
        12.5.1. By Product
        12.5.2. By End-use Industry
        12.5.3. By Country/Sub-region
13. Competition Landscape
    13.1. Global Thermal Market Share Analysis, by Company (2018)
    13.2. Company Profiles (Details – Basic Overview, Recent Developments, Geographical Presence, Revenue, SWOT Analysis, and Strategy)
        13.2.1. Advanced Cooling Technologies
            13.2.1.1. Basic Overview
            13.2.1.2. Recent Developments
            13.2.1.3. Geographical Presence
            13.2.1.4. Revenue 
            13.2.1.5. SWOT Analysis
            13.2.1.6. Strategy
        13.2.2. AHI Carrier
            13.2.2.1. Basic Overview
            13.2.2.2. Recent Developments
            13.2.2.3. Geographical Presence
            13.2.2.4. Revenue 
            13.2.2.5. SWOT Analysis
            13.2.2.6. Strategy
        13.2.3. AranerLytron
            13.2.3.1. Basic Overview
            13.2.3.2. Recent Developments
            13.2.3.3. Geographical Presence
            13.2.3.4. Revenue 
            13.2.3.5. SWOT Analysis
            13.2.3.6. Strategy
        13.2.4. Asetek
            13.2.4.1. Basic Overview
            13.2.4.2. Recent Developments
            13.2.4.3. Geographical Presence
            13.2.4.4. Revenue 
            13.2.4.5. SWOT Analysis
            13.2.4.6. Strategy
        13.2.5. ASSMANN WSW Components GmbH
            13.2.5.1. Basic Overview
            13.2.5.2. Recent Developments
            13.2.5.3. Geographical Presence
            13.2.5.4. Revenue 
            13.2.5.5. SWOT Analysis
            13.2.5.6. Strategy
        13.2.6. Bluestar Limited
            13.2.6.1. Basic Overview
            13.2.6.2. Recent Developments
            13.2.6.3. Geographical Presence
            13.2.6.4. Revenue 
            13.2.6.5. SWOT Analysis
            13.2.6.6. Strategy
        13.2.7. CTS CORPORATION
            13.2.7.1. Basic Overview
            13.2.7.2. Recent Developments
            13.2.7.3. Geographical Presence
            13.2.7.4. Revenue 
            13.2.7.5. SWOT Analysis
            13.2.7.6. Strategy
        13.2.8. DCX Sp. z.o.o.
            13.2.8.1. Basic Overview
            13.2.8.2. Recent Developments
            13.2.8.3. Geographical Presence
            13.2.8.4. Revenue 
            13.2.8.5. SWOT Analysis
            13.2.8.6. Strategy
        13.2.9. DK THERMAL METAL CIRCUIT TECHNOLOGY
            13.2.9.1. Basic Overview
            13.2.9.2. Recent Developments
            13.2.9.3. Geographical Presence
            13.2.9.4. Revenue 
            13.2.9.5. SWOT Analysis
            13.2.9.6. Strategy
        13.2.10. Ferrotec Corporation
            13.2.10.1. Basic Overview
            13.2.10.2. Recent Developments
            13.2.10.3. Geographical Presence
            13.2.10.4. Revenue 
            13.2.10.5. SWOT Analysis
            13.2.10.6. Strategy
        13.2.11. Henkel AG & Co. KGaA
            13.2.11.1. Basic Overview
            13.2.11.2. Recent Developments
            13.2.11.3. Geographical Presence
            13.2.11.4. Revenue 
            13.2.11.5. SWOT Analysis
            13.2.11.6. Strategy
        13.2.12. II-VI Incorporated
            13.2.12.1. Basic Overview
            13.2.12.2. Recent Developments
            13.2.12.3. Geographical Presence
            13.2.12.4. Revenue 
            13.2.12.5. SWOT Analysis
            13.2.12.6. Strategy
        13.2.13. International Thermal Systems
            13.2.13.1. Basic Overview
            13.2.13.2. Recent Developments
            13.2.13.3. Geographical Presence
            13.2.13.4. Revenue 
            13.2.13.5. SWOT Analysis
            13.2.13.6. Strategy
        13.2.14. JULABO GmbH
            13.2.14.1. Basic Overview
            13.2.14.2. Recent Developments
            13.2.14.3. Geographical Presence
            13.2.14.4. Revenue 
            13.2.14.5. SWOT Analysis
            13.2.14.6. Strategy
        13.2.15. Keith Company
            13.2.15.1. Basic Overview
            13.2.15.2. Recent Developments
            13.2.15.3. Geographical Presence
            13.2.15.4. Revenue 
            13.2.15.5. SWOT Analysis
            13.2.15.6. Strategy
        13.2.16. Kelk
            13.2.16.1. Basic Overview
            13.2.16.2. Recent Developments
            13.2.16.3. Geographical Presence
            13.2.16.4. Revenue 
            13.2.16.5. SWOT Analysis
            13.2.16.6. Strategy
        13.2.17. Komatsu Ltd.
            13.2.17.1. Basic Overview
            13.2.17.2. Recent Developments
            13.2.17.3. Geographical Presence
            13.2.17.4. Revenue 
            13.2.17.5. SWOT Analysis
            13.2.17.6. Strategy
        13.2.18. Laird Thermal
            13.2.18.1. Basic Overview
            13.2.18.2. Recent Developments
            13.2.18.3. Geographical Presence
            13.2.18.4. Revenue 
            13.2.18.5. SWOT Analysis
            13.2.18.6. Strategy
        13.2.19. Lytron
            13.2.19.1. Basic Overview
            13.2.19.2. Recent Developments
            13.2.19.3. Geographical Presence
            13.2.19.4. Revenue 
            13.2.19.5. SWOT Analysis
            13.2.19.6. Strategy
        13.2.20. Opticool Technologies
            13.2.20.1. Basic Overview
            13.2.20.2. Recent Developments
            13.2.20.3. Geographical Presence
            13.2.20.4. Revenue 
            13.2.20.5. SWOT Analysis
            13.2.20.6. Strategy
        13.2.21. Polyscience
            13.2.21.1. Basic Overview
            13.2.21.2. Recent Developments
            13.2.21.3. Geographical Presence
            13.2.21.4. Revenue 
            13.2.21.5. SWOT Analysis
            13.2.21.6. Strategy
        13.2.22. Radian Thermal Products
            13.2.22.1. Basic Overview
            13.2.22.2. Recent Developments
            13.2.22.3. Geographical Presence
            13.2.22.4. Revenue 
            13.2.22.5. SWOT Analysis
            13.2.22.6. Strategy
        13.2.23. SMC Corporation
            13.2.23.1. Basic Overview
            13.2.23.2. Recent Developments
            13.2.23.3. Geographical Presence
            13.2.23.4. Revenue 
            13.2.23.5. SWOT Analysis
            13.2.23.6. Strategy
        13.2.24. Subros Limited
            13.2.24.1. Basic Overview
            13.2.24.2. Recent Developments
            13.2.24.3. Geographical Presence
            13.2.24.4. Revenue 
            13.2.24.5. SWOT Analysis
            13.2.24.6. Strategy
        13.2.25. Thermal Care, Inc.
            13.2.25.1. Basic Overview
            13.2.25.2. Recent Developments
            13.2.25.3. Geographical Presence
            13.2.25.4. Revenue 
            13.2.25.5. SWOT Analysis
            13.2.25.6. Strategy
        13.2.26. THERMAL ENGINEERING SYSTEMS
            13.2.26.1. Basic Overview
            13.2.26.2. Recent Developments
            13.2.26.3. Geographical Presence
            13.2.26.4. Revenue 
            13.2.26.5. SWOT Analysis
            13.2.26.6. Strategy
        13.2.27. Thermo Fisher Scientific
            13.2.27.1. Basic Overview
            13.2.27.2. Recent Developments
            13.2.27.3. Geographical Presence
            13.2.27.4. Revenue 
            13.2.27.5. SWOT Analysis
            13.2.27.6. Strategy
        13.2.28. Weil-McLain
            13.2.28.1. Basic Overview
            13.2.28.2. Recent Developments
            13.2.28.3. Geographical Presence
            13.2.28.4. Revenue 
            13.2.28.5. SWOT Analysis
            13.2.28.6. Strategy
14. Key Takeaway0073

List of Tables

Table 01: Global Thermal Market Revenue (US$ Mn) Forecast, by Product, 2017–2027
Table 02: Global Thermal Market Volume (Thousand Units) Forecast, by Product, 2017–2027
Table 03: Global Thermal Market Revenue (US$ Mn) Forecast, by Product, by Liquid Cooling Systems, 2017–2027
Table 04: Global Thermal Market Volume (Thousand Units) Forecast, by Product, by Liquid Cooling Systems, 2017–2027
Table 05: Global Thermal Market Revenue (US$ Mn) Forecast, by Product, by Heating Equipment, 2017–2027
Table 06: Global Thermal Market Volume (Thousand units) Forecast, by Product, by Heating Equipment, 2017–2027
Table 07: Global Thermal Market Revenue (US$ Mn) Forecast, by Product, by Cooling Equipment, 2017–2027
Table 08: Global Thermal Market Size (Thousand Units) Forecast, by Product, by Cooling Equipment, 2017–2027
Table 09: Global Thermal Market Revenue (US$ Mn) Forecast, by Product, by Heat Transfer Component, 2017–2027
Table 10: Global Thermal Market Volume (Thousand Units) Forecast, by Product, by Heat Transfer Component, 2017–2027
Table 11: Global Thermal Market Revenue (US$ Mn) Forecast, by End-use Industry, 2017–2027
Table 12: Global Thermal  Market Revenue Forecast, by Region, 2017–2027 (US$ Mn)
Table 13: Global Thermal  Market Volume Forecast, by Region, 2017–2027 (Thousand Units)
Table 14: North America Thermal Market Revenue Forecast, by Product, 2017–2027 (US$ Mn)
Table 15: North America Thermal Market Volume Forecast, by Product, 2017–2027 (Thousand Units)
Table 16: North America Thermal Market Size Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (US$ Mn) 
Table 17: North America Thermal Market Volume Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (Thousand Units)
Table 18: North America Thermal Market Size Forecast, by Product, by Heating Equipment, 2017–2027 (US$ Mn) 
Table 19: North America Thermal Market Volume Forecast, by Product, by Heating Equipment, 2017–2027 (Thousand Units)
Table 20: North America Thermal Market Size Forecast, by Product, by Cooling Equipment, 2017–2027 (US$ Mn) 
Table 21: North America Thermal Market Volume Forecast, by Product, by Cooling Equipment, 2017–2027 (Thousand Units)
Table 22: North America Thermal Market Size Forecast, by Product, by Heat Transfer Component, 2017–2027 (US$ Mn) 
Table 23: North America Thermal Market Volume Forecast, by Product, by Heat Transfer Component, 2017–2027 (Thousand Units)
Table 24: North America Thermal Market Revenue Forecast, by End-use Industry, 2017–2027 (US$ Mn)
Table 25: North America Thermal  Market Revenue Forecast, by Country/Sub-region, 2017–2027 (US$ Mn)
Table 26: North America Thermal  Market Volume Forecast, by Country/Sub-region, 2017–2027 (Thousand Units)
Table 27: Europe Thermal Market Revenue Forecast, by Product, 2017–2027 (US$ Mn)
Table 28: Europe Thermal Market Volume Forecast, by Product, 2017–2027 (Thousand Units)
Table 29: Europe Thermal Market Size Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (US$ Mn) 
Table 30: Europe Thermal Market Volume Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (Thousand Units)
Table 31: Europe Thermal Market Size Forecast, by Product, by Heating Equipment, 2017–2027 (US$ Mn) 
Table 32: Europe Thermal Market Volume Forecast, by Product, by Heating Equipment, 2017–2027 (Thousand Units)
Table 33: Europe Thermal Market Size Forecast, by Product, by Cooling Equipment, 2017–2027 (US$ Mn) 
Table 34: Europe Thermal Market Volume Forecast, by Product, by Cooling Equipment, 2017–2027 (Thousand Units)
Table 35: Europe Thermal Market Size Forecast, by Product, by Heat Transfer Component, 2017–2027 (US$ Mn) 
Table 36: Europe Thermal Market Volume Forecast, by Product, by Heat Transfer Component, 2017–2027 (Thousand Units)
Table 37: Europe Thermal Market Revenue Forecast, by End-use Industry, 2017–2027 (US$ Mn)
Table 38: Europe Thermal  Market Revenue Forecast, by Country/Sub-region, 2017–2027 (US$ Mn)
Table 39: Europe Thermal  Market Volume Forecast, by Country/Sub-region, 2017–2027 (Thousand Units)
Table 40: Asia Pacific Thermal Market Revenue Forecast, by Product, 2017–2027 (US$ Mn)
Table 41: Asia Pacific Thermal Market Volume Forecast, by Product, 2017–2027 (Thousand Units)
Table 42: Asia Pacific Thermal Market Size Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (US$ Mn) 
Table 43: Asia Pacific Thermal Market Volume Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (Thousand Units)
Table 44: Asia Pacific Thermal Market Size Forecast, by Product, by Heating Equipment, 2017–2027 (US$ Mn) 
Table 45: Asia Pacific Thermal Market Volume Forecast, by Product, by Heating Equipment, 2017–2027 (Thousand Units)
Table 46: Asia Pacific Thermal Market Size Forecast, by Product, by Cooling Equipment, 2017–2027 (US$ Mn) 
Table 47: Asia Pacific Thermal Market Volume Forecast, by Product, by Cooling Equipment, 2017–2027 (Thousand Units)
Table 48: Asia Pacific Thermal Market Size Forecast, by Product, by Heat Transfer Component, 2017–2027 (US$ Mn) 
Table 49: Asia Pacific Thermal Market Volume Forecast, by Product, by Heat Transfer Component, 2017–2027 (Thousand Units)
Table 50: Asia Pacific Thermal Market Revenue Forecast, by End-use Industry, 2017–2027 (US$ Mn)
Table 51: Asia Pacific Thermal  Market Revenue Forecast, by Country/Sub-region, 2017–2027 (US$ Mn)
Table 52: Asia Pacific Thermal  Market Volume Forecast, by Country/Sub-region, 2017–2027 (Thousand Units)
Table 53: Middle East & Africa Thermal Market Revenue Forecast, by Product, 2017–2027 (US$ Mn)
Table 54: Middle East & Africa Thermal Market Volume Forecast, by Product, 2017–2027 (Thousand Units)
Table 55: Middle East & Africa Thermal Market Size Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (US$ Mn) 
Table 56: Middle East & Africa Thermal Market Volume Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (Thousand Units)
Table 57: Middle East & Africa Thermal Market Size Forecast, by Product, by Heating Equipment, 2017–2027 (US$ Mn) 
Table 58: Middle East & Africa Thermal Market Volume Forecast, by Product, by Heating Equipment, 2017–2027 (Thousand Units)
Table 59: Middle East & Africa Thermal Market Size Forecast, by Product, by Cooling Equipment, 2017–2027 (US$ Mn) 
Table 60: Middle East & Africa Thermal Market Volume Forecast, by Product, by Cooling Equipment, 2017–2027 (Thousand Units)
Table 61: Middle East & Africa Thermal Market Size Forecast, by Product, by Heat Transfer Component, 2017–2027 (US$ Mn) 
Table 62: Middle East & Africa Thermal Market Volume Forecast, by Product, by Heat Transfer Component, 2017–2027 (Thousand Units)
Table 63: Middle East & Africa Thermal Market Revenue Forecast, by End-use Industry, 2017–2027 (US$ Mn)
Table 64: Middle East & Africa Thermal  Market Revenue Forecast, by Country/Sub-region, 2017–2027 (US$ Mn)
Table 65: Middle East & Africa Thermal  Market Volume Forecast, by Country/Sub-region, 2017–2027 (Thousand Units)
Table 66: South America Thermal Market Revenue Forecast, by Product, 2017–2027 (US$ Mn)
Table 67: South America Thermal Market Volume Forecast, by Product, 2017–2027 (Thousand Units)
Table 68: South America Thermal Market Size Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (US$ Mn) 
Table 69: South America Thermal Market Volume Forecast, by Product, by Liquid Cooling Systems, 2017–2027 (Thousand Units)
Table 70: South America Thermal Market Size Forecast, by Product, by Heating Equipment, 2017–2027 (US$ Mn) 
Table 71: South America Thermal Market Volume Forecast, by Product, by Heating Equipment, 2017–2027 (Thousand Units)
Table 72: South America Thermal Market Size Forecast, by Product, by Cooling Equipment, 2017–2027 (US$ Mn) 
Table 73: South America Thermal Market Volume Forecast, by Product, by Cooling Equipment, 2017–2027 (Thousand Units)
Table 74: South America Thermal Market Size Forecast, by Product, by Heat Transfer Component, 2017–2027 (US$ Mn) 
Table 75: South America Thermal Market Volume Forecast, by Product, by Heat Transfer Component, 2017–2027 (Thousand Units)
Table 76: South America Thermal Market Revenue Forecast, by End-use Industry, 2017–2027 (US$ Mn)
Table 77: South America Thermal  Market Revenue Forecast, by Country/Sub-region, 2017–2027 (US$ Mn)
Table 78: South America Thermal  Market Volume Forecast, by Country/Sub-region, 2017–2027 (Thousand Units)

List of Figures

Figure 01: North America Thermal Market CAGR
Figure 02: Europe Thermal Market CAGR
Figure 03: Asia Pacific Thermal Market CAGR
Figure 04: Middle East & Africa Thermal Market CAGR
Figure 05: South America Thermal Market CAGR
Figure 06: Global Thermal Market Revenue Projection, 2017–2027 (US$ Mn)
Figure 07: Global Thermal Market Volume Projection, 2017–2027 (Thousand Units)
Figure 08: Global Thermal Market, by Product (2019)
Figure 09: Global Thermal Market, by Region (2019)
Figure 10: Global Thermal Market, by End-use Industry (2019)
Figure 11: Global Thermal Market Value Share Analysis, by Product, 2019 and 2027
Figure 12: Global Thermal Market, by Product, Liquid Cooling Systems
Figure 13: Global Thermal Market, by Product, Thermoelectric
Figure 14: Global Thermal Market, by Product, Heat Sinks
Figure 15: Global Thermal Market, by Product, Compressors
Figure 16: Global Thermal Market, by Product, Heating Equipment
Figure 17: Global Thermal Market, by Product, Cooling Equipment
Figure 18: Global Thermal Market, by Product, Thermal Interface Materials 
Figure 19: Global Thermal Market, by Product, Heat Transfer Component
Figure 20: Segment Growth Matrix, 2019–27 (%)
Figure 21: Segment Revenue Contribution, 2019–27 (%)
Figure 22: Segment Compounded Growth Matrix (CAGR %)
Figure 23: Global Thermal Market Attractiveness Analysis, by Product
Figure 24: Global Thermal Market Value Share Analysis, by End-use Industry, 2019 and 2027
Figure 25: Global Thermal Market, by End-use Industry, Aerospace & Defense
Figure 26: Global Thermal Market, by End-use Industry, Automotive
Figure 27: Global Thermal Market, by End-use Industry, Chemicals & Petrochemicals
Figure 28: Global Thermal Market, by End-use Industry, Consumer Electronics
Figure 29: Global Thermal Market, by End-use Industry, Energy & Utilities
Figure 30: Global Thermal Market, by End-use Industry, Food & Beverages
Figure 31: Global Thermal Market, by End-use Industry, Healthcare
Figure 32: Global Thermal Market, by End-use Industry, Heavy Metals & Machine Manufacturing
Figure 33: Global Thermal Market, by End-use Industry, IT & Telecommunications
Figure 34: Global Thermal Market, by End-use Industry, Oil & Gas
Figure 35: Global Thermal Market, by End-use Industry, Paper & Pulp
Figure 36: Global Thermal Market, by End-use Industry, Semiconductor & Electronics
Figure 37: Global Thermal Market, by End-use Industry, Others
Figure 38: Segment Growth Matrix, 2019–27 (%)
Figure 39: Segment Revenue Contribution, 2019–27 (%)
Figure 40: Segment Compounded Growth Matrix (CAGR %)
Figure 41: Global Thermal  Market Attractiveness Analysis, by End-use Industry 
Figure 42: Global Thermal  Market, by Region, North America
Figure 43: Global Thermal  Market, by Region, Europe
Figure 44: Global Thermal  Market, by Region, Asia Pacific
Figure 45: Global Thermal  Market, by Region, Middle East & Africa
Figure 46: Global Thermal  Market, by Region, South America
Figure 47: Global Thermal  Market Attractiveness Analysis, by Region
Figure 48: North America Thermal Market Revenue (US$ Mn) Forecast, 2017–2027
Figure 49: North America Thermal Market Volume (Thousand Units) Forecast, 2017–2027
Figure 50: North America Thermal Market Value Share Analysis, by Product, 2019 and 2027
Figure 51: North America Thermal Market Value Share Analysis, by End-use Industry, 2019 and 2027
Figure 52: North America Thermal Market Value Share Analysis, by Country/Sub-region, 2019 and 2027
Figure 53: North America Thermal Market Attractiveness Analysis, by Product
Figure 54: North America Thermal Market Attractiveness Analysis, by End-use Industry
Figure 55: North America Thermal Market Attractiveness Analysis, by Country/Sub-region
Figure 56: Europe Thermal Market Revenue (US$ Mn) Forecast, 2017–2027
Figure 57: Europe Thermal Market Volume (Thousand Units) Forecast, 2017–2027
Figure 58: Europe Thermal Market Value Share Analysis, by Product, 2019 and 2027
Figure 59: Europe Thermal Market Value Share Analysis, by End-use Industry, 2019 and 2027
Figure 60: Europe Thermal Market Value Share Analysis, by Country/Sub-region, 2019 and 2027
Figure 61: Europe Thermal Market Attractiveness Analysis, by Product
Figure 62: Europe Thermal Market Attractiveness Analysis, by End-use Industry
Figure 63: Europe Thermal Market Attractiveness Analysis, by Country/Sub-region 
Figure 64: Asia Pacific Thermal Market Revenue (US$ Mn) Forecast, 2017–2027
Figure 65: Asia Pacific Thermal Market Volume (Thousand Units) Forecast, 2017–2027
Figure 66: Asia Pacific Thermal Market Value Share Analysis, by Product, 2019 and 2027
Figure 67: Asia Pacific Thermal Market Value Share Analysis, by End-use Industry, 2019 and 2027
Figure 68: Asia Pacific Thermal Market Value Share Analysis, by Country/Sub-region, 2019 and 2027
Figure 69: Asia Pacific Thermal Market Attractiveness Analysis, by Product
Figure 70: Asia Pacific Thermal Market Attractiveness Analysis, by End-use Industry
Figure 71: Asia Pacific Thermal Market Attractiveness Analysis, by Country/Sub-region 
Figure 72: Middle East & Africa Thermal Market Revenue (US$ Mn) Forecast, 2017–2027
Figure 73: Middle East & Africa Thermal Market Volume (Thousand Units) Forecast, 2017–2027
Figure 74: Middle East & Africa Thermal Market Value Share Analysis, by Product, 2019 and 2027
Figure 75: Middle East & Africa Thermal Market Value Share Analysis, by End-use Industry, 2019 and 2027
Figure 76: Middle East & Africa Thermal Market Value Share Analysis, by Country/Sub-region, 2019 and 2027
Figure 77: Middle East & Africa Thermal Market Attractiveness Analysis, by Product
Figure 78: Middle East & Africa Thermal Market Attractiveness Analysis, by End-use Industry
Figure 79: Middle East & Africa Thermal Market Attractiveness Analysis, by Country/Sub-region
Figure 80: South America Thermal Market Revenue (US$ Mn) Forecast, 2017–2027
Figure 81: South America Thermal Market Volume (Thousand Units) Forecast, 2017–2027
Figure 82: South America Thermal Market Value Share Analysis, by Product, 2019 and 2027
Figure 83: South America Thermal Market Value Share Analysis, by End-use Industry, 2019 and 2027
Figure 84: South America Thermal Market Value Share Analysis, by Country/Sub-region, 2019 and 2027
Figure 85: South America Thermal Market Attractiveness Analysis, by Product
Figure 86: South America Thermal Market Attractiveness Analysis, by End-use Industry
Figure 87: South America Thermal Market Attractiveness Analysis, by Country/Sub-region
Figure 88: Global Thermal Market Share Analysis, by Company (2018)

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Thermal Market