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Thermal Management Technologies Market Set to Heat Up, Projected to Reach $26.1 Billion by 2028

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Experiencing a Robust 8.5% CAGR, the Market for Thermal Management Technologies is Forecasted to Grow from $17.3 Billion in 2023

BOSTON, Feb. 12, 2024 /PRNewswire/ — This market is a hub of innovation, offering smart solutions to control and optimize temperatures in various industries. From cutting-edge cooling systems to innovative heat management, this market is at the forefront of technological advancements. Explore the trends, opportunities, and strategies that shape the landscape of thermal management technologies on a global scale.

“According to the latest research study, the demand for The Market for Thermal Management Technologies grow from $17.3 in 2023 and is estimated to increase from $26.1 billion in 2028, at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2028.”

This comprehensive report provides an extensive overview of the thermal management technologies market, covering various product areas such as materials, hardware, and software. The analysis includes market size and revenue trends for individual segments, offering forecasts through 2028. Key market issues influencing each product segment are thoroughly explored, along with insights into crucial applications. A detailed examination of the competitive landscape emphasizes factors driving success, including research and development capabilities, ecosystems, and partnerships. The report features profiles of thermal management manufacturers, shedding light on their strategies and offerings. Additionally, the impact of the COVID-19 pandemic is assessed, considering challenges and opportunities that have emerged. The global market for thermal management products is addressed from 2022 to 2028, encompassing hardware, software, interface products, substrates, and various application areas.

In recent years, there’s been a growing focus on eco-friendly thermal management solutions, driven by increasing environmental concerns. Companies are actively innovating to create technologies that effectively dissipate heat while minimizing their impact on the environment. Taking inspiration from nature, biomimicry is influencing the design of cooling systems that replicate natural heat exchange processes observed in organisms and ecosystems. A notable trend is the exploration of cutting-edge methods to manage heat at incredibly small scales, contributing to advancements in microelectronics and medical devices. For example, Micro-Electro-Mechanical Systems (MEMS), integrating microelectronics with micromachining technology, holds the potential to revolutionize consumer products. The continuous progress in heat management technologies is expected to play a crucial role in the development of microelectronics and related devices.

Dive into the evolving dynamics of the Thermal Management Technologies market and discover future trends with our latest research study – click here to Learn More.

Driving forces behind the market for thermal management technologies market’s growth comprise:

Increasing Thermal Management Requirements in 5G Communication Devices-With the rise of 5G communication devices, there is a growing demand for efficient thermal management solutions. The increased data transfer speeds and processing capabilities in 5G devices generate higher levels of heat, requiring effective cooling mechanisms. Thermal management becomes essential to ensure optimal performance, prevent overheating, and enhance the overall reliability of 5G communication devices. This trend underscores the importance of innovative cooling technologies in meeting the escalating thermal requirements of the rapidly evolving 5G landscape.Growing Demand for Effective Heat Management Solutions in the Consumer Electronics Sectors- The consumer electronics sector is witnessing a surge in demand for effective heat management solutions. As electronic devices become more powerful and compact, managing heat efficiently is crucial for ensuring optimal performance and longevity. This growing need emphasizes the importance of innovative cooling technologies to enhance user experience and reliability in various consumer electronics products.Increasing Demand for Carbon Dioxide Reduction and Fuel-efficient Thermal Systems- The increasing demand for carbon dioxide reduction and fuel-efficient thermal systems highlights a growing emphasis on eco-friendly technologies. As environmental concerns intensify, there is a rising need for thermal systems that enhance energy efficiency and reduce carbon emissions. This trend reflects a collective effort to address climate challenges and promote sustainable practices in various industries.Growing Advancement in Thermal Interface Materials-The field of thermal interface materials is experiencing notable advancements, signaling progress in improving heat transfer efficiency. These innovations play a crucial role in enhancing the performance and reliability of electronic devices and other applications by effectively managing heat dissipation.

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Report Synopsis        

Report Metrics

Details

Base year considered

2022

Forecast Period considered

2023-2028

Base year market size

$16.2 billion

Market Size Forecast

$26.1 billion

Growth Rate

CAGR of 8.5% from 2023 to 2028

Segment Covered

By Product Type, Application, Device Type, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Countries covered           

U.S., Canada, Germany, France, The U.K., Japan, China, India, and South Korea

Key Market Drivers

•  Increasing Thermal Management Requirements in 5G Communication Devices

•  Growing Demand for Effective Heat Management Solutions in the Consumer Electronics Sectors

•  Increasing Demand for Carbon Dioxide Reduction and Fuel-efficient Thermal Systems

•  Growing Advancement in Thermal Interface Materials

The Rising Demand for The Market for Thermal Management Technologies:

The market for thermal management technologies is experiencing a surge in demand driven by the need for efficient heat control across various industries. As electronic devices become more powerful and diverse, the growing requirement for effective thermal solutions is shaping the trajectory of this market. The rising demand underscores the significance of advanced cooling technologies to ensure optimal performance and reliability in diverse applications.

Trends and Innovations:

Trends and Innovations in the Thermal Management Technologies Market showcase the dynamic evolution of cooling solutions across industries. From smart technologies to eco-friendly innovations, this market is witnessing a shift towards advanced and sustainable thermal management systems. Stay informed on the latest developments shaping the future of heat control.

Challenges and Opportunities

Challenges and Opportunities in the Thermal Management Technologies Market reflect a complex landscape, navigating hurdles while exploring potential avenues for growth. This dynamic market presents both obstacles and openings, providing insights into strategic decision-making for industry players.

This report on the thermal management technologies market provides comprehensive insights and analysis, addressing the following key questions:

1.  What is the market’s expected size and rate of growth?
     The market is expected to expand at a compound annual growth rate (CAGR) of 8.5% from $16.2 billion in 2022 to $26.1 billion in 2028.

2.  What are the main elements propelling the market’s expansion?
     The increasing need for efficient heat management solutions in the consumer electronics industry is one of the main factors propelling the growth of the thermal management technologies market.

3.  Which market segments are covered?
     The product, device, application, and geographic segments that make up the thermal management technologies market are separated out.

4.  Which product category will rule the market by the end of 2028?
     By the end of 2028, the hardware segment is expected to lead the market in terms of product type.

5.  Which geographic area dominates the market in terms of market share?
     In terms of region, Asia-Pacific has the largest market share.

Some of the Key Market Players Are:

3MGENTHERMHONEYWELL INTERNATIONAL INC.LAIRD TECHNOLOGIES INC.SPECTRA-MAT INC.AAVID THERMALLOYALCOA CORP.ASETEK INC.COMAIR ROTRONCOOL INNOVATIONSCOOLIT SYSTEMSCPS TECHNOLOGIES CORP.DYNATRON CORP.MOTIVAIR CORP.ALTAIR ENGINEERING INC.ANSYS INC.DAAT RESEARCH CORP.HEXAGON ABNETZSCH-GERATEBAU GMBHAI TECHNOLOGY INC.AMETEK INC.CHOMERICS (DIVISION OF PARKER HANNIFIN)HENKEL AG & CO. KGAALORD CORP.MASTER BOND INC.AMKOR TECHNOLOGYCOOLER MASTER TECHNOLOGY INC.MATERION CORP.MORGAN TECHNICAL CERAMICSSTATS CHIPPAC LTD.

Directly Purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com.  

 About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us

Corporate HQ: BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

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Shanghai Electric Presents Full-Chain Collaborative Solutions for Zero-Carbon Transition at Carbon Neutrality Expo 2026

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SHANGHAI, June 15, 2026 /CNW/ — Shanghai Electric (“the Company”) (SEHK: 02727, SSE: 601727) has successfully concluded its exhibition at the 2026 Shanghai International Carbon Neutrality Expo in Technologies, Products and Achievements (Carbon Neutrality Expo 2026) held from June 10 to 12 in Shanghai under the theme of “Engineering the Optimal Zero-Carbon Solution.”

By presenting zero-carbon park construction achievements, low-carbon technology innovations and green product solutions, Shanghai Electric showcased its core capabilities in full-chain synergy, on-demand customization and project execution. Its integrated energy equipment value chain enables tailored solutions for diverse scenarios and supports green, low-carbon development.

Industrial parks are vital platforms for green and low-carbon development. At the expo, Shanghai Electric released the “White Paper on Technical Measures for Zero-Carbon Park Planning and Construction,” offering systematic and actionable guidance for green and low-carbon park development. Centered on energy efficiency, energy substitution and resource circulation, Shanghai Electric offers end-to-end services from planning and construction to operations. Its full-chain solutions cover clean energy supply, low-carbon infrastructure, resource recycling and smart O&M.

In recent years, the Company has advanced several demonstration projects for green and low-carbon park development, including the “Zero-Carbon Bay” project in Shanghai’s Lin-gang Special Area and a smart energy park in Shantou, Guangdong Province. Selected as one of China’s first 52 national zero-carbon parks and the only project in Shanghai to receive the designation, the Lin-gang project highlights Shanghai Electric’s role in planning, construction and operational deployment, as well as its ability to build integrated zero-carbon systems for advanced manufacturing industries. The Shantou project integrates wind, solar, storage, charging and intelligent energy management, and has received Guangdong’s first carbon neutrality certificate.

With full-category new energy capabilities across wind, solar, storage, hydrogen and nuclear, Shanghai Electric covers the zero-carbon chain from generation to smart platforms and energy-saving equipment. The full-chain synergy provides robust technological and industrial foundation for building zero-carbon scenarios.

Shanghai Electric also released social carbon reduction contribution data for the second consecutive year. In 2025, the Company achieved a reduction of approximately 389 million tons of CO₂ equivalent, continuing to apply its green technologies and industrial capabilities to drive low-carbon transition.

Meanwhile, Shanghai Electric unveiled its next-phase ESG development strategy, reaffirming its commitment to clean technology innovation, low-carbon management and sustainability governance as it works with global partners to support the global zero-carbon transition.

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SOURCE Shanghai Electric

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56% Want It, 38% Leave For It: The Critical State of Work-Life Balance in Hong Kong: Randstad Hong Kong

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Work-life balance remains the #1 Employee Value Proposition (EVP), jumping 10% in importance since 2024 (56% in 2026 vs. 46% in 2024).Top 3 turnover drivers: Poor work-life balance, uncompetitive compensation & benefits, and limited career growth.Mobility trends: 30% of Hongkonger plan to change jobs (peaking at 32% among Gen Z), while 14% seek internal transfers (highest among Millennials at 16%).

HONG KONG, June 16, 2026 /PRNewswire/ — ‘Work-life balance’ continues to reign as the top employee value proposition (EVP) for talent in Hong Kong, while ‘career progression’ has entered the Top 5 EVPs for the very first time in 2026.

Randstad – the global talent company – today revealed early findings of its 14th annual Employer Brand Research in Hong Kong SAR. Commissioned by Randstad and independently conducted by Kantar, this annual study is the world’s most comprehensive employer brand research, surveying over 166,000 people globally, including 2,500 respondents in Hong Kong SAR.

Natellie Sun, Managing Director of Randstad Greater China and Southeast Asia said, “Our 2026 findings show that while work-life balance remains the ultimate priority, career progression has broken into the top five EVPs for the first time in six years. Immediate rewards and daily workplace experiences are still highly valued, but we are seeing a distinct shift: talent in Hong Kong is adopting a much more long-term, strategic mindset when managing their careers.”

Work-life Balance Remains the Leading EVP Driver

The 2026 research reveals that 56% of Hong Kongers prioritise work-life balance when seeking an ideal employer, marking a 10% increase from 2024. This is closely followed by attractive salary and benefits (52%) and job security (43%).

Top 5 Most Important EVP Factors When Thinking about an Ideal Employer

Hong Kong SAR

Gen Z

Millennials

Gen X

work-life balance

work-life balance

work-life balance

work-life balance

salary & benefits

salary & benefits

salary & benefits

salary & benefits

job security

pleasant work atmosphere

job security

job security

career progression

career progression

career progression

pleasant work atmosphere

pleasant work atmosphere

job security

pleasant work atmosphere

career progression

Hongkongers View Work-life Balance through a Functional Lens

Data shows that Hongkongers prioritise tangible benefits which are good environments, reasonable workloads, flexible arrangements, health support, time off and access to work, over soft factors like “supportive leadership and culture”.

44% of talent in Hong Kong cite reasonable workload and expectations as the primary driver of a healthy work-life balance, nearly double the proportion who prioritise supportive leadership and culture (23%). 

Amid talent shifts driven by agile business iterations, forward-thinking managers should do more than simply reassign tasks to teams or AI tools. Instead, they should take actions to prioritise employees’ morale, redesign workflows, and reallocate resources to ensure sustainable productivity.

Another 42% attribute better work-life balance to flexible working arrangements. However, the proportion of employees offered hybrid or remote options has declined (32% in 2026, down from 37% in 2025). Increasingly, employers are mandating a return-to-office (RTO) to track productivity and drive growth. Yet, companies need to be wary of “pseudo-flexibility”, which is when workloads are unreasonable and the line between work time and personal time becomes blurry. Consequently, a poor work-life balance remains the leading driver of resignations in Hong Kong (38.2%).

Switch or Not? Hongkongers Seek Job Security and Career Progression

The Hong Kong talent market is currently navigating a structural supply-demand mismatch, accelerated by AI and economic uncertainties. Faced with these external market risks, talent are increasingly choosing security over mobility.

While 30% of workers still plan to change jobs, external mobility intentions have noticeably slowed down compared to previous years. Instead, the appetite for internal transfers has grown to 14%. Driven by a challenging macroeconomic environment, talent is opting to anchor themselves to current employers, looking for security rather than risking an external move.

However, choosing security does not mean no retention pressure. Employers need to look beyond surface-level declines in turnover and evaluate the workforce through the lens of EVP and attrition factors, to mitigate the risks of ‘job hugging’ fallout and talent loss.

A disconnect exists between what talent expect and what they experience daily. The widest gap lies in “salary and benefits,” followed by “career progression”. Notably, 38% of respondents leave because salary and benefits failed to keep pace with rising living costs and workload, while 29% leave due to a lack of career growth opportunities.

As market-wide salary increments slow down and corporate budgets become cautious, talent are adopting a more pragmatic approach toward compensation and benefits. When weighing salary ceilings against career ceilings, talent possess far greater agency to shatter their career barriers.

Career development is a continuous journey that relies on both personal commitment and a supportive work environment. It encompasses vertical advancement and horizontal expansion, with expectations evolving across the short, medium, and long term. As Partner for Talent, Randstad is committed to supporting candidates through every stage of the career journey.

Randstad Hong Kong 2026 Employer Brand Research Report: Now Available

The 14th edition of the Randstad Hong Kong Employer Brand Research is available now on the website, exploring the insights from 2,500 respondents for the following themes:

how talent across different generations is ranking EVP importancewhat elements strengthen job security and enhance work-life balancejob-switching behaviour and the reasons for leaving jobsAI powers the job search, human connection builds trust.

About Randstad Employer Brand Research

Randstad Employer Brand Research 2026 explores the views of working people in Europe, Asia-Pacific, Latin America and North America.

Data was collected from over 166,000 respondents in Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, France, Germany, Greece, Hong Kong SAR, Hungary, India, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, the United Kingdom, the United States and Uruguay In January 2026. For this research, Randstad partnered with Kantar, a global research and analysis firm.

About Randstad

Randstad is a global talent leader with the vision to be the world’s most equitable and specialised talent company. As a partner for talent and through our four specialisations — Operational, Professional, Digital and Enterprise — we provide clients with the high-quality, diverse and agile workforces that they need to succeed in a talent scarce world. We help people secure meaningful roles, develop relevant skills and find purpose and belonging in their workplace. Through the value we create, we are committed to a better and more sustainable future for all.

Headquartered in the Netherlands, operating in 39 markets and Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com.

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SOURCE Randstad Hong Kong

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TECNO Unveils SPARK 50 Pro: The Segment’s Durable Powerhouse

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HONG KONG, June 15, 2026 /PRNewswire/ — On June 16 Beijing Time, AI-driven innovative technology brand TECNO unveils SPARK 50 Pro, the segment’s durable powerhouse. Designed for users who expect their smartphone to keep up with them for years, TECNO SPARK 50 Pro offers two battery options — a 5600mAh dual-cell version and a 6000mAh single-cell version — both paired with a Sony LYTIA 600 50MP main camera, a slim 7.8mm body, IP68/IP69 water and dust resistance, and SGS Five-Star certified durability. This stylish and durable smartphone is built to deliver long-lasting all-round performance for entertainment, creativity, and everyday life.

Long-Lasting Power and Performance for Streaming and Multitasking

Built for the way users stream, scroll, game, chat, and multitask throughout the day, TECNO SPARK 50 Pro delivers dependable performance with battery durability designed for the long run. Both battery versions — 5600mAh dual-cell and 6000mAh single-cell — support more than 1,900 charge cycles, retaining over 80% capacity after six years, as certified by TECNO Lab, for long-lasting reliability and fewer battery replacements.

TECNO SPARK 50 Pro also supports 60W Super Charge, powering the device to 63% in just 30 minutes and charging fully in 55 minutes. Three adaptive charging modes – Hyper, Smart, and Low-Temperature – give users control over speed versus heat, while bypass charging routes power directly to the motherboard during heavy use, reducing battery strain and keeping the device cooler when gaming or streaming while plugged in.

Powered by the MediaTek Helio G100 Ultimate processor with AnTuTu score around 550,000, TECNO SPARK 50 Pro is designed to support smooth everyday performance across entertainment, productivity, and social use. It also features Memory Fusion 4.0 technology, delivers up to 24GB RAM. Its large 6.78-inch display with up to 120Hz refresh rate brings fluid visuals to supported scenarios, while dual stereo speakers with DTS Sound deliver a richer audio experience for video, music, and gaming. Together, these features make SPARK 50 Pro a reliable entertainment companion built for daily streaming, multitasking, and playback.

Capture Life in Motion: 50MP Sony Camera Meets Ultra-Fast FlashSnap

TECNO SPARK 50 Pro elevates everyday photography with the Sony LYTIA 600 main camera which was developed by Sony Semiconductor Solutions with Sony optical technology, features a 50MP resolution and a large 1/1.953-inch sensor. It delivers superior light-gathering capability compared to smaller sensors in its class, enabling clearer shots in low-light conditions.

Capture fast-moving moments with TECNO’s FlashSnap technology. With shutter speeds of up to 1/10,000s, users can freeze motion with precision, whether capturing pets in action, moving vehicles, sports, or quick-fire moments with friends.

Beyond still images, TECNO SPARK 50 Pro brings memories to life with Live Photo, saving the atmosphere of a shot in motion with every shutter press. AI-powered imaging tools, including AI Eraser 2.0 and AI Extender, help users remove distractions, reframe compositions, and refine images directly on device. TECNO’s Universal Tone technology further supports more inclusive portrait photography, helping users capture natural-looking skin tones across environments.

Slim Yet Durable: Premium Design with Solid Protection

TECNO SPARK 50 Pro combines a slim 7.8mm profile with premium durability, backed by the Swiss SGS Five-Star Premium Drop Resistance. Adding to its resilience, the device features IP68 and IP69 dust and water resistance, ensuring reliable protection against dust, spills, rain, and high-pressure water jets.

TECNO SPARK 50 Pro extends its all-round experience with features built around how users actually move through their day. FreeLink 2.0 enables off-grid communication in supported scenarios, while 4.5G and 4G carrier aggregation strengthens network performance for streaming, browsing, and social use. AI Noise Cancellation supports clearer calls in busy or noisy environments, and TECNO’s Ella AI Agent and AI Health Assistant bring intelligent everyday assistance for health monitoring and daily productivity.

The device is available in five stylish colors: Ink Black, Titanium Grey, Midnight Blue, Dynamic Orange, and Cloud White. Blending ultra-slim aesthetics with modern style, TECNO SPARK 50 Pro is designed to feel as polished as it is practical — a device that looks premium, performs smoothly, and stays reliable over time.

About TECNO

As a global innovative technology brand with operations in over 70 markets, TECNO has been committed to revolutionizing the digital experience in global emerging markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies and AI. TECNO offers a wide range of smartphones, smart wearables, laptops and tablets, smart gaming, HiOS operating systems and smart home products. Guided by its brand essence of “Stop At Nothing”, TECNO is committed to unlocking the newest technologies and AI-powered new experiences for forward-looking individuals, inspiring them to never stop pursuing their best selves and their best futures. For more information, please visit TECNO’s official site: www.tecno-mobile.com.

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SOURCE TECNO

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