Thermal management system industry trends: technological innovation and market prospects

introduction

In recent years, with the growing global demand for sustainable development and energy efficiency improvements, thermal management systems have become the focus of various industries. From electronic equipment to electric vehicles, from data centers to industrial manufacturing, efficient thermal management solutions can not only improve equipment operating efficiency and extend service life, but also significantly reduce energy consumption and environmental impact. This article will comprehensively analyze recent technological innovations and market trends in thermal management systems and explore the development prospects of this industry.

Market size and share forecast

According to the latest report by Fortune Business Insights, the thermal management systems market is expected to reach significant size by 2034. This report points out that with the continuous advancement of technology and the expansion of application fields, the market demand for thermal management systems will continue to grow, especially in areas such as electric vehicles, 5G communication equipment, and data centers.

The report also highlights that policy support and corporate investment globally are key factors driving market growth. For example, governments' subsidy policies for electric vehicles and companies' investment in efficient and energy-saving solutions are accelerating the commercialization of thermal management technology.

Technological innovation: The rise of dual-phase cold plate cooling technology

On November 27, 2025, IDTechEx published an article on dual-phase cold plate cooling technology, stating that this technology is expected to achieve rapid application in 2026-2027. Dual-phase cold plate cooling technology achieves efficient heat transfer by simultaneously utilizing the phase changes of liquid and gas during the cooling process. Compared with traditional cooling methods, it has higher cooling efficiency and lower energy consumption.

This technology is particularly suitable for high power density applications such as data centers, high-performance computing equipment and electric vehicles. IDTechEx analysts believe that as the requirements for cooling efficiency continue to increase, dual-phase cold plate cooling technology will become an important trend in the future market.

Scientific research progress: new double-sided Janus foam material

On February 3, 2026, Associate Professor Liang Fuxin of Tsinghua University published an article on the new double-sided Janus foam material in "Nature Communications". Through its unique double-sided structure, this material can achieve efficient heat conduction and thermal isolation in different directions, providing new ideas for the design of thermal management systems.

Specifically, one side of this material has high thermal conductivity, which can quickly conduct heat away; while the other side has low thermal conductivity, which can effectively prevent heat from flowing back. This bifacial property makes Janus foam materials have broad application prospects in fields such as electronic equipment, building insulation and aerospace.

Corporate news: Henkel opens innovation center in Shanghai

On September 24, 2025, Germany's Henkel opened an innovation center in Shanghai with an investment of US$71 million, focusing on the research and development of adhesive technology. Adhesives are increasingly used in thermal management systems, especially in electric vehicles and electronics, where efficient thermal management adhesives can help devices better dissipate heat and improve overall performance.

Henkel said that the new innovation center will strengthen its research and development capabilities in the Asia-Pacific region and promote the development and application of more advanced thermal management solutions. This move will not only contribute to Henkel's competitive advantage in the global market, but will also promote the development of the entire industry.

Market Reaction: Related Stock Performance

On August 18, 2025, robot-related stocks in the Hong Kong stock market performed well, with the stock prices of Sanhua Intelligent Control and Johnson Controls rising by 10% and 9% respectively. These two companies have important layouts in the field of thermal management, especially in efficient cooling systems and intelligent thermal management technology.

The positive market reaction to the stocks of these two companies reflects investor optimism about the future of thermal management system technology. As new technologies continue to be introduced and market demand grows, the performance of these companies is expected to continue to improve.

in conclusion

The market demand for thermal management systems continues to rise, and technological innovation and policy support are key factors driving market development. The emergence of dual-phase cold plate cooling technology and new double-sided Janus foam materials provide new directions for thermal management solutions, while Henkel’s Innovation Center further enhances R&D capabilities in this area. With the commercial application of these technologies, the market prospects of thermal management systems will become broader.