Automotive Thermal Management System Market Set to Witness Explosive Growth by 2030

Description

The global automotive thermal management system market size is expected to be USD 38.9 billion in 2021 and reach USD 46.71 billion in 2027, registering a CAGR of 3.10% during the forecast period, 2021-2027. With increasing advancement in technology and in-vehicle electronic and electrification systems such as infotainment, navigation, electric drive, and transmission. Also, the rising demand for maintaining the system temperature as well as the need for the efficient power distribution in the system temperature has raised the demand for the automotive thermal management system. With the advancement of vehicle electrification, the auto parts suppliers are giving more effort towards their strength in the global competitive market.

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Factors Affecting the Automotive Thermal Management System Market over the Forecast Period

Stringent government norms related to the vehicle thermal management system and its lubricants are the major factors responsible for the ups and downs for the global market in the coming years. Increase in new trends for the electric and hybrid vehicles worldwide is estimated to boost up the automotive thermal management system market.

Currently, leading automotive OEMs are putting efforts to boost the integration of the waste heat recovery system in their vehicles, enhancing the fuel efficiency of their vehicles. Integration of automotive battery thermal management system with other electric thermal management systems is the major trend in the development of the market.

Various issues faced at the time of manufacturing of thermal components, such as the design of optimal flow channels, selection of coolant, and complexity of flow and model, are the major challenges for the manufacturer in the market over the forecast period.

Impact of COVID-19 on Automotive Thermal Management Market

Due to the COVID-19 breakdown, the demand for public vehicle transportation has reduced, so the demand for automotive thermal management systems has reduce gradually. But on the same point, the buses, trucks, and large transport vehicles have increased as the supply of products has increased, so the Manufacturer of the thermal management system hasn't stopped the production.

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Scope of the Report

The report outlines the study of the structure based on application, vehicle, technology, components, and end-use.

Automotive Thermal Management System Market, by Application Type

• Engine Cooling
• Front Air Conditioning
• Rear Air Conditioning
• Transmission System
• Heated/Ventilated Seats
• Heated Steering
• Waste Heat Recovery

Automotive Thermal Management System Market, by Vehicle Type

• Passenger Cars
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Automotive Thermal Management System Market, by Technology

• Active Transmission Warm-Up
• Exhaust Gas Recirculation
• Engine Thermal Mass Reduction
• Reduced HVAC System Loading
• Other

Automotive Thermal Management Market Regional Outlook

The automotive thermal management system has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. In 2020, Asia Pacific held the largest share in the global automotive thermal management system, followed by Europe and North America. The Asia Pacific is further estimated to dominate the automotive thermal management system during the forecast period. Moreover, North America is expected to project the highest CAGR in the global market over the forecast period.

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Key Global Automotive Thermal Management Market Competitors Includes

The automotive thermal management system market is highly fragmented, with the presence of large companies and big brands across the globe. The key automotive thermal management system players operating in the global market include –

• Denso Corporation
• Modine Manufacturing Company
• MAHLE GMbH
• Valeo
• Gentherm
• Hanon Systems
• Dupont
• Renesas Electronic Corporation
• Ymer Technology
• NORMA Group
• Borgwarner Inc.
• Robert Bosch GmbH
• Dana Limited
• Voss Automotive GmbH

The automotive thermal management system report provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs.

Automotive Thermal Management Market Report Covers Comprehensive Analysis on

• Market Segmentation & Regional Analysis
• Market Size of 10 years
• Pricing Analysis
• Supply & Demand Analysis
• Product Life Cycle Analysis
• Porter's Five Forces & Value Chain Analysis
• Developed & Emerging Economies Analysis
• PEST Analysis
• Market and Forecast Factor Analysis
• Market Opportunities, Risks, & Trends
• Conclusion & Recommendation
• Regulatory Landscape
• Patent Analysis
• Competition Landscape
• 15+ Company Profiles

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Automotive Thermal Management Market Regional Analysis Includes

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA

Automotive Thermal Management Market Target Audience

• Associations and industrial bodies
• Automotive thermal management system manufacturers
• HVAC manufacturers
• Automotive component suppliers and distributors
• Research institutions and universities
• Independent aftermarket players
• Government bodies

• Regulatory authorities
• Policymakers

• Automotive OEMs manufacturers

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Article source: https://article-realm.com/article/Finance/20898-Automotive-Thermal-Management-System-Market-Set-to-Witness-Explosive-Growth-by-2030.html