Automotive Thermal Management Market Analysis, Trends, Size, and Forecast. Automotive Thermal Management Market Industry Overview, Market Growth, Market Share, Syndicate Report, and Business Research Reports – US and UK

Description

Automotive Thermal Management System: by Application (Engine Cooling, Front Air Conditioning, Rear Air Conditioning, Transmission System, Heated/Ventilated Seats, Heated Steering, and Waste Heat Recovery), by Vehicle Type (Passenger Cars, LCV, and HCV), by Technology (Active Transmission Warm-Up, Exhaust Gas Recirculation, Engine Thermal Mass Reduction, Reduced HVAC System Loading, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)

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Automotive Thermal Management Industry Outlook

The automotive thermal management system market size was valued at USD 51.4 billion in 2020 and is expected to reach USD 65.7 billion by 2027, at a CAGR of 3.1% during the forecast period. 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 and the need for efficient power distribution in the system temperature has been rising the demand for the automotive thermal management system. With the advancement of vehicle electrification, auto parts suppliers are putting more effort towards their strength in a globally competitive market.

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 of the global market in the coming years.
• An increase in new trends for electric and hybrid vehicles worldwide is estimated to boost 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 systems with other electric thermal management systems is the major trend in the development of the market.
• Various issues faced at the time of manufacturing 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 reduced 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 doesn't stop 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.

Key Global Automotive Thermal Management Market Competitors Includes –

The automotive thermal management system market is highly fragmented, with 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 Electronics Corporation
• Ymer Technology

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