Thermal Management System Market Size, Share & Industry Analysis, By Type (Active, Passive, and Hybrid), By Application (Automotive, Consumer Electronics, Data Centers, Industrial Equipment, Renewable Energy, Aerospace & Defense, Telecommunication, Medical Devices, and Others), By Technology (Liquid Cooling, Air Cooling, Thermoelectric Cooling, Phase Change Materials, Heat Pipes, and Others), and Regional Forecast, 2026–2034

Last Updated: January 19, 2026 | Format: PDF | Report ID: FBI108692

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Table of Content

Introduction
1. Definition, By Segment
2. Research Methodology/Approach
3. Data Sources
Executive Summary
Market Dynamics
1. Macro and Micro Economic Indicators
2. Drivers, Restraints, Opportunities and Trends
3. Impact of Generative AI
4. Impact of Reciprocal Tariffs on Thermal Management System Market
Competition Landscape
1. Business Strategies Adopted by Key Players
2. Consolidated SWOT Analysis of Key Players
3. Global Thermal Management System Key Players (Top 3 – 5) Market Share/Ranking, 2025
Global Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Region (USD)
  1. North America
  2. South America
  3. Europe
  4. Asia Pacific
  5. Middle East & Africa
North America Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. United States
  2. Canada
  3. Mexico
South America Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. Brazil
  2. Argentina
  3. Rest of South America
Europe Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. United Kingdom
  2. Germany
  3. France
  4. Italy
  5. Spain
  6. Russia
  7. Rest of Europe
Asia Pacific Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. China
  2. India
  3. Japan
  4. South Korea
  5. ASEAN
  6. Rest of Asia Pacific
Middle East & Africa Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. GCC
  2. South Africa
  3. Rest of MEA
Company Profiles for Top Players
1. Boyd
2. DAIKIN INDUSTRIES
3. Honeywell International Inc.
4. HYUNDAI WIA CORP.
5. Johnson Controls
6. Mitsubishi Electric Corporation
7. Parker Hannifin Corporation
8. Schneider Electric
9. Tark Thermal Solutions
10. Trane Technologies
11. Vertiv Holdings Co
Key Takeaways

Introduction
1. Definition, By Segment
2. Research Methodology/Approach
3. Data Sources
Executive Summary
Market Dynamics
1. Macro and Micro Economic Indicators
2. Drivers, Restraints, Opportunities and Trends
3. Impact of Generative AI
4. Impact of Reciprocal Tariffs on Thermal Management System Market
Competition Landscape
1. Business Strategies Adopted by Key Players
2. Consolidated SWOT Analysis of Key Players
3. Global Thermal Management System Key Players (Top 3 – 5) Market Share/Ranking, 2025
Global Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Region (USD)
  1. North America
  2. South America
  3. Europe
  4. Asia Pacific
  5. Middle East & Africa
North America Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. United States
  2. Canada
  3. Mexico
South America Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. Brazil
  2. Argentina
  3. Rest of South America
Europe Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. United Kingdom
  2. Germany
  3. France
  4. Italy
  5. Spain
  6. Russia
  7. Rest of Europe
Asia Pacific Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. China
  2. India
  3. Japan
  4. South Korea
  5. ASEAN
  6. Rest of Asia Pacific
Middle East & Africa Thermal Management System Market Size Estimates and Forecasts, By Segments, 2021-2034
1. Key Findings
2. By Type (USD)
  1. Active
  2. Passive
  3. Hybrid
3. By Application (USD)
  1. Automotive
    1. ICE Vehicles
    2. Electric Vehicles
    3. Hybrid Vehicles
  2. Consumer Electronics
  3. Data Centers
    1. Hyperscale Data Centers
    2. Colocation Facilities
    3. Others
  4. Industrial Equipment
  5. Renewable Energy
  6. Aerospace and Defense
  7. Telecommunications
  8. Medical Devices
  9. Others
4. By Technology (USD)
  1. Liquid Cooling
  2. Air Cooling
  3. Thermoelectric Cooling
  4. Phase Change Materials
  5. Heat Pipes
  6. Others
5. By Country (USD)
  1. GCC
  2. South Africa
  3. Rest of MEA
Company Profiles for Top Players
1. Boyd
2. DAIKIN INDUSTRIES
3. Honeywell International Inc.
4. HYUNDAI WIA CORP.
5. Johnson Controls
6. Mitsubishi Electric Corporation
7. Parker Hannifin Corporation
8. Schneider Electric
9. Tark Thermal Solutions
10. Trane Technologies
11. Vertiv Holdings Co
Key Takeaways

Read Less

List of Figures

Figure 1: Global Thermal Management System Market Revenue Share (%), 2025 and 2034

Figure 2: Global Thermal Management System Market Revenue Share (%), By Type, 2025 and 2034

Figure 3: Global Thermal Management System Market Revenue Share (%), By Application, 2025 and 2034

Figure 4: Global Thermal Management System Market Revenue Share (%), By Technology, 2025 and 2034

Figure 5: Global Thermal Management System Market Revenue Share (%), By Region, 2025 and 2034

Figure 6: North America Thermal Management System Market Revenue Share (%), 2025 and 2034

Figure 7: North America Thermal Management System Market Revenue Share (%), By Type, 2025 and 2034

Figure 8: North America Thermal Management System Market Revenue Share (%), By Application, 2025 and 2034

Figure 9: North America Thermal Management System Market Revenue Share (%), By Technology, 2025 and 2034

Figure 10: North America Thermal Management System Market Revenue Share (%), By Country, 2025 and 2034

Figure 11: Europe Thermal Management System Market Revenue Share (%), 2025 and 2034

Figure 12: Europe Thermal Management System Market Revenue Share (%), By Type, 2025 and 2034

Figure 13: Europe Thermal Management System Market Revenue Share (%), By Application, 2025 and 2034

Figure 14: Europe Thermal Management System Market Revenue Share (%), By Technology, 2025 and 2034

Figure 15: Europe Thermal Management System Market Revenue Share (%), By Country, 2025 and 2034

Figure 16: Asia Pacific Thermal Management System Market Revenue Share (%), 2025 and 2034

Figure 17: Asia Pacific Thermal Management System Market Revenue Share (%), By Type, 2025 and 2034

Figure 18: Asia Pacific Thermal Management System Market Revenue Share (%), By Application, 2025 and 2034

Figure 19: Asia Pacific Thermal Management System Market Revenue Share (%), By Technology, 2025 and 2034

Figure 20: Asia Pacific Thermal Management System Market Revenue Share (%), By Country, 2025 and 2034

Figure 21: Middle East & Africa Thermal Management System Market Revenue Share (%), 2025 and 2034

Figure 22: Middle East & Africa Thermal Management System Market Revenue Share (%), By Type, 2025 and 2034

Figure 23: Middle East & Africa Thermal Management System Market Revenue Share (%), By Application, 2025 and 2034

Figure 24: Middle East & Africa Thermal Management System Market Revenue Share (%), By Technology, 2025 and 2034

Figure 25: Middle East & Africa Thermal Management System Market Revenue Share (%), By Country, 2025 and 2034

Figure 26: South America Thermal Management System Market Revenue Share (%), 2025 and 2034

Figure 27: South America Thermal Management System Market Revenue Share (%), By Type, 2025 and 2034

Figure 28: South America Thermal Management System Market Revenue Share (%), By Application, 2025 and 2034

Figure 29: South America Thermal Management System Market Revenue Share (%), By Technology, 2025 and 2034

Figure 30: South America Thermal Management System Market Revenue Share (%), By Country, 2025 and 2034

Figure 31: Global Thermal Management System Key Players' Market Share/Ranking (%), 2025

List of Tables

Table 1: Global Thermal Management System Market Size Estimates and Forecasts, 2021 – 2034

Table 2: Global Thermal Management System Market Size Estimates and Forecasts, By Type, 2021 – 2034

Table 3: Global Thermal Management System Market Size Estimates and Forecasts, By Application, 2021 – 2034

Table 4: Global Thermal Management System Market Size Estimates and Forecasts, By Technology, 2021 – 2034

Table 5: Global Thermal Management System Market Size Estimates and Forecasts, By Region, 2021 – 2034

Table 6: North America Thermal Management System Market Size Estimates and Forecasts, 2021 – 2034

Table 7: North America Thermal Management System Market Size Estimates and Forecasts, By Type, 2021 – 2034

Table 8: North America Thermal Management System Market Size Estimates and Forecasts, By Application, 2021 – 2034

Table 9: North America Thermal Management System Market Size Estimates and Forecasts, By Technology, 2021 – 2034

Table 10: North America Thermal Management System Market Size Estimates and Forecasts, By Country, 2021 – 2034

Table 11: Europe Thermal Management System Market Size Estimates and Forecasts, 2021 – 2034

Table 12: Europe Thermal Management System Market Size Estimates and Forecasts, By Type, 2021 – 2034

Table 13: Europe Thermal Management System Market Size Estimates and Forecasts, By Application, 2021 – 2034

Table 14: Europe Thermal Management System Market Size Estimates and Forecasts, By Technology, 2021 – 2034

Table 15: Europe Thermal Management System Market Size Estimates and Forecasts, By Country, 2021 – 2034

Table 16: Asia Pacific Thermal Management System Market Size Estimates and Forecasts, 2021 – 2034

Table 17: Asia Pacific Thermal Management System Market Size Estimates and Forecasts, By Type, 2021 – 2034

Table 18: Asia Pacific Thermal Management System Market Size Estimates and Forecasts, By Application, 2021 – 2034

Table 19: Asia Pacific Thermal Management System Market Size Estimates and Forecasts, By Technology, 2021 – 2034

Table 20: Asia Pacific Thermal Management System Market Size Estimates and Forecasts, By Country, 2021 – 2034

Table 21: Middle East & Africa Thermal Management System Market Size Estimates and Forecasts, 2021 – 2034

Table 22: Middle East & Africa Thermal Management System Market Size Estimates and Forecasts, By Type, 2021 – 2034

Table 23: Middle East & Africa Thermal Management System Market Size Estimates and Forecasts, By Application, 2021 – 2034

Table 24: Middle East & Africa Thermal Management System Market Size Estimates and Forecasts, By Technology, 2021 – 2034

Table 25: Middle East & Africa Thermal Management System Market Size Estimates and Forecasts, By Country, 2021 – 2034

Table 26: South America Thermal Management System Market Size Estimates and Forecasts, 2021 – 2034

Table 27: South America Thermal Management System Market Size Estimates and Forecasts, By Type, 2021 – 2034

Table 28: South America Thermal Management System Market Size Estimates and Forecasts, By Application, 2021 – 2034

Table 29: South America Thermal Management System Market Size Estimates and Forecasts, By Technology, 2021 – 2034

Table 30: South America Thermal Management System Market Size Estimates and Forecasts, By Country, 2021 – 2034

STUDY PERIOD: 2021-2034
BASE YEAR: 2025
HISTORICAL DATA: 2021-2024
NO OF PAGES: 133

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