Automotive Thermal Management System Market size was valued at USD 46.64 Bn. in 2022 and the total Automotive Thermal Management System Market revenue is expected to grow at 6 % from 2023 to 2029, reaching nearly USD 70.12 Bn.
Automotive Thermal Management System Market Overview:
The Automotive Thermal Management System market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Automotive Thermal Management System Market, as well as the reasons for variations in the industry’s growth in various locations.
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Top-down and bottom-up approaches are used to validate the market size and to estimate the market size by different segments. The market estimations in the report are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and breakdowns of the segments are derived based on weights assigned to each of the segments on their utilization rate and average sale price. The country-wise splits of the overall market and its sub-segments are based on the percentage adoption or utilization of the given market Size in the respective region or country.
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Segmentation:
Global Automotive Thermal Management System Market, by Component (2022-2029)
• Power Distribution Box
• Domain Controller Units
• ECU
• Inverter
• Converters
• Connectors
• Power Integrated Circuits (ICs).
The Power Distribution Box sector is anticipated to experience the greatest CAGR during the forecast period in terms of Component. The power distribution component is swiftly incorporated into the high voltage utility and industrial distribution networks. Due to the rise in demand for transmission and distribution systems, the market is anticipated to expand. For manufacturers in many industries, the creation and effective distribution of the product are major priorities. As a result of increasing consumer demand for cost-effective designs and growing use of such components, the market is predicted to expand. The market is also anticipated to profit from the rapid expansion of low voltage distribution networks throughout residential and commercial buildings as well as from the rise in demand for excellent operational performance.
Global Automotive Thermal Management System Market, by Technology (2022-2029)
• Active Transmission Warmup
• Engine Thermal Mass Reduction
• Exhaust Gas Recirculation
• Others
The PVC Compounds sector, based on technology, is anticipated to expand at the greatest CAGR during the forecast period. By reducing friction losses and accelerating the transition from cold to warm operation, this improves fuel economy and reduces CO2 emissions. Also anticipated to increase significantly is exhaust gas recirculation. Diesel engine NOx emissions can be successfully managed via exhaust gas recirculation (EGR). By absorbing heat and reducing the amount of oxygen in the combustion chamber, the EGR reduces NOx emissions. The other segments should also experience significant growth during the projection period.
Global Automotive Thermal Management System Market, by Application (2022-2029)
• Engine Cooling
• Transmission Cooling
• Waste Heat Recovery
• Others
Engine Cooling is anticipated to experience the highest CAGR growth based on Application throughout the course of the projected period. Engine cooling, often known as antifreeze coolant, prevents engines from overheating. In addition, coolant lubricates the moving parts it comes into contact with, protecting them from harm and preserving the water pump, head gasket, cylinder and piston timing, and other parts.
Global Automotive Thermal Management System Market, by Vehicle Type (2022-2029)
• Passenger Cars
• Commercial Vehicles
The category for passenger cars, based on vehicle type, is anticipated to increase at the highest CAGR during the projection period. Passenger cars are the most popular form of transportation in developed countries. The adoption of advanced technology, such as improved driver assistance systems (ADAS), has increased significantly in recent years.
Global Automotive Thermal Management System Market, by Propulsion (2022-2029)
• Internal Combustion Engine (ICE) Vehicle
• Electric Vehicle
Key Players in the Automotive Thermal Management System Market are:
1. Denso Corporation
2. Modine Manufacturing Company
3. MAHLE GmbH
4. Valeo
5. Gentherm
6. Hanon Systems
7. DuPont
8. Continental AG
9. Renesas Electronics Corporation
10.Ymer Technology
11.NORMA Group
12.BorgWarner Inc.
13.Robert Bosch GmbH
14.Dana Limited
15.VOSS Automotive GmbH
16.Schaeffler Group
17.Calsonic Kansei
18.Eberspacher Systemes d Echappement SAS
19.Visteon
20.Delphi Inc.
Regional Analysis:
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Automotive Thermal Management System market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
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COVID-19 Impact Analysis on Automotive Thermal Management System Market:
Due to a break in operations, end-user sectors where Automotive Thermal Management System are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Automotive Thermal Management System manufacturers, affecting the development of the Automotive Thermal Management System market in 2020. End-user business demand for Automotive Thermal Management System has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Automotive Thermal Management System Market Report are:
- Which segment had the largest share in the Automotive Thermal Management System market in 2021?
- What is the competitive landscape of the Automotive Thermal Management System market?
- Which are the key drivers aiding the Automotive Thermal Management System market growth?
- Which region has the maximum share in the Automotive Thermal Management System market?
- What will be the CAGR of the Automotive Thermal Management System market during the forecast period (2022-2027)?
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