Thermal Management Market
Market Size
The Thermal Management Is excepted to grow at a high CAGR of 8.5% during the forecast period (2024-2031).
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Key Development:
United States
✅ In January 2026, Airedale by Modine launched its TurboChillTM high-capacity hybrid chiller designed for AI data centers, supporting multi-megawatt thermal loads created by high-density GPU racks. The system integrates free cooling with mechanical backup to improve energy efficiency. It addresses rising heat challenges in next-generation AI infrastructure.
✅ In December 2025, Vertiv expanded its liquid cooling and integrated thermal management service portfolio for AI-driven data centers, focusing on scalable cooling architectures for ultra-high rack densities. The initiative emphasizes lifecycle services alongside advanced cooling hardware. It strengthens Vertiv’s position in AI-focused mission-critical environments.
✅ In December 2025, Johnson Controls advanced its data center thermal management solutions portfolio, driven by increased demand for efficient cooling technologies supporting AI and hyperscale facilities. The developments prioritize low-carbon and high-efficiency cooling systems. It reflects accelerating adoption of advanced thermal solutions across U.S. data centers.
✅ In November 2025, Eaton completed the acquisition of Boyd Thermal’s business, expanding its liquid cooling and thermal management capabilities for data centers. The move enhances Eaton’s ability to manage escalating heat loads from AI compute infrastructure. It strengthens its end-to-end power and cooling offerings.
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Japan
✅ In January 2026, KDDI’s AI data center in Osaka began operations with advanced water-based cooling infrastructure, specifically designed to handle the thermal intensity of generative AI workloads. The facility integrates energy-efficient cooling technologies. It supports Japan’s growing AI compute ecosystem.
✅ In December 2025, TIS initiated proof-of-concept testing of immersion cooling systems for AI data center applications, validating performance under high-density compute conditions. The initiative focuses on next-generation liquid cooling deployment. It prepares the ground for commercial AI data center services in Japan.
✅ In December 2025, Japanese technology providers showcased modular liquid and hybrid cooling solutions for AI data centers, targeting efficient heat dissipation for GPU-intensive environments. The systems emphasize scalability and reduced energy consumption. They align with Japan’s push toward sustainable digital infrastructure.
✅ In November 2025, Japanese data center operators expanded investments in advanced liquid cooling technologies, responding to the rapid rise in AI workloads and rack power density. These upgrades focus on immersion and direct-to-chip cooling. They enhance operational resilience and thermal efficiency.
Key Players:
=> Honeywell International, Sapa Group, Heatex, Pentair Thermal Management, Thermacore, Vertiv Co, European Thermodynamics Ltd, Dau Thermal Solutions, Master Bond Inc, Alcatel-Lucent, LairdTech, Aavid Thermalloy, and many others.
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Key Segments:
By Devices
Conduction Cooling Devices – ~30% share, widely used in electronics and industrial systems due to reliability, simplicity, and low maintenance requirements.
Convection Cooling Devices – ~25% share, commonly adopted in HVAC, data centers, and power electronics for efficient heat dissipation.
Advanced Cooling Devices – ~25% share, includes liquid cooling, heat pipes, vapor chambers, and phase-change systems; demand rising in high-performance computing and EVs.
Hybrid Cooling Devices – ~20% share, combining multiple cooling techniques for enhanced thermal efficiency in complex systems.
By Services
Installation and Calibration – ~40% share, essential for ensuring optimal thermal performance and system integration.
Optimization – ~30% share, growing demand for energy-efficient cooling solutions and performance enhancement.
Post-Sales Support (Online) – ~30% share, driven by digital monitoring, remote diagnostics, and lifecycle management services.
By Region
North America – ~30% Share
Strong demand from data centers, aerospace, defense, and advanced electronics manufacturing.
Europe – ~25% Share
Growth driven by energy efficiency regulations, EV adoption, and industrial automation.
Asia-Pacific – ~30% Share
Fastest growing region; fueled by electronics manufacturing, data center expansion, and EV battery thermal management.
South America – ~8% Share
Moderate growth supported by industrial development and telecom infrastructure.
Middle East & Africa – ~7% Share
Emerging opportunities in data centers, energy projects, and industrial cooling applications.
FAQ
Q: What is the growth rate of the Thermal Management Market?
A: The market is projected to expand at a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2024 to 2031.
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Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
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