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High-power energy storage devices, such as lithium-ion batteries and supercapacitors, face significant thermal challenges during operation, which can affect their performance, safety, and longevity. Effective thermal management strategies are crucial for maintaining optimal temperature ranges, preventing thermal runaway, and ensuring efficient energy output. This paper explores various thermal management techniques, including active and passive cooling systems, phase change materials, and advanced heat sink designs, specifically tailored for high-power applications. A comprehensive analysis of these strategies is provided, along with insights into their implementation in real-world energy storage systems. Additionally, the paper discusses recent advancements in thermal management technologies and proposes potential improvements to enhance the safety and efficiency of high-power energy storage devices.