Automotive Thermal Management System Market worth USD 70.13 Bn by 2029: Movements by Key Findings, Industry Impact, Latest Trend Analysis, Progression Status, Revenue Expectation to 2029
Pune, 5, Dec, 2022: According to Maximize Market Research’s “Automotive Thermal Management System Market,” the market is predicted to increase from USD 44 billion in 2021 to USD 70.13 billion in 2029, at a CAGR of 3.81 percent from 2022 to 2029. The increase in the rate of industrial growth in APAC developing countries is one of the primary factors driving the Automotive Thermal Management Systems Market.
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Automotive Thermal Management System Market Scope and Research Methodology
The automotive thermal management system market research report highly depends on both primary and secondary data sources. The research process involves the investigation of various factors affecting the industry, such as government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries, as well as market risks, opportunities, market barriers, and challenges. All conceivable elements influencing the markets included in this research study have been considered, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the impact of inflation, economic downturns, regulatory & policy changes, and other variables is factored into the market forecast. This data is combined and added with detailed inputs and analysis, and presented in the report.
Automotive Thermal Management System Market Overview
The automotive thermal management system monitors and maintains the temperature of key car parts. It regulates the temperature of a variety of components in cars, including the motor, battery, and cabin, to give greater performance, higher fuel efficiency, and enhanced comfort. Effective thermal management allows automotive components to operate in the appropriate temperature range while also improving interior comfort through seat heating, front air conditioning, and rear air conditioning.
The rising demand for luxury automobiles with cutting-edge features and comfort, rigorous emission regulations, and the inclusion of intelligent thermal management technology into vehicles are the primary drivers driving the global automotive thermal management system market.
Automotive Thermal Management System Market Dynamics
The growing focus on decreasing vehicle emissions is one of the primary reasons driving the automotive thermal management system industry. Thermal management systems are becoming increasingly popular as environmental concerns grow, owing to their potential to reduce vehicle emissions. Inadequate interior climate control can lead to increased fuel consumption and emissions, as well as safety issues due to fogging and windshield damage. As a result, the technique helps to maintain the temperature of the internal combustion engine steady, improving the capacity of cars to use gasoline effectively. As a result, demand for these systems is increasing across the world as thermal management is given greater attention in order to minimize vehicle emissions.
Electric car acceptability has grown tremendously in China, the United States, and Europe over the previous four to five years. OEMs are always attempting to develop battery-powered, low-cost, long-distance passenger vehicles. By optimizing the thermal systems for the battery, traction motors, and power electronic modules, as well as auxiliary loads like cabin heating and cooling, performance, driving range, and vehicle lifespan may all be boosted.
Automotive Thermal Management System Market Regional Insights
Asia-Pacific continues to dominate the market. The rising automotive sector in Asia-Pacific, where manufacturing centres for automotive parts are emerging in China and India, is likely to fuel the market for automotive thermal management systems. A positive outlook for market growth is expected during the forecast period owing to the growing government regulations promoting the adoption of electric vehicles and the aggressive expansion strategies adopted by OEMs and suppliers in the region to meet the growing demand from China’s automotive industry. For example, United Automotive Electronic Systems Co. Ltd. (UAES) revealed in August 2021 that the EAU150 electric axle, the second model of its independently developed electric axle platform, had rolled off the manufacturing line at its Taicang facility.
Automotive Thermal Management System Market Segmentation
By Component:
- Power Distribution Box
- Domain Controller Units
- ECU
- Inverter
- Converters
- Connectors
- Power Integrated Circuits (ICs)
By Technology:
- Active Transmission Warmup
- Engine Thermal Mass Reduction
- Exhaust Gas Recirculation
- Others
By Application:
- Active Transmission Warmup
- Engine Thermal Mass Reduction
- Exhaust Gas Recirculation
- Other
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Propulsion:
- Internal Combustion Engine (ICE) Vehicle
- Electric Vehicle
- Others Application
Automotive Thermal Management System Market Key Competitors:
- Denso Corporation
- Modine Manufacturing Company
- MAHLE GmbH
- Valeo
- Gentherm
- Hanon Systems
- DuPont
- Continental AG
- Renesas Electronics Corporation
- Ymer Technology
- NORMA Group
- BorgWarner Inc.
- Robert Bosch GmbH
- Dana Limited
- VOSS Automotive GmbH
- Schaeffler Group
- Calsonic Kansei
- Eberspacher Systemes d Echappement SAS
- Visteon
- Delphi Inc.
Key questions answered in the Automotive Thermal Management System Market are:
- What is Automotive Thermal Management System?
- What is the growth rate of Automotive Thermal Management System Market over the forecast period?
- What is the nature of competition in Automotive Thermal Management System industry in developed economies and developing economies?
- Who are the key players in the Automotive Thermal Management System Market?
- Who are the market leaders in Automotive Thermal Management System in Europe
- Who are the market leaders in Automotive Thermal Management System in USA and Canada
- Who are the market leaders in Automotive Thermal Management System in India, China, Japan and South Korea?
- What are the factors affecting growth in the Automotive Thermal Management System Market?
- Who held the largest market share in Automotive Thermal Management System Market?
- What are the factors for the growth of Asia-Pacific region in Automotive Thermal Management System Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by component, Technology, Application, Vehicle Type, Propulsion and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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