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Automotive Thermal Management System Market Showcase Approximately Constant CAGR of Around 4.50 Percent In International Market Forecast Till 2023

Press release   •   Apr 16, 2019 02:52 EDT

Global Automotive Thermal Management System Market is expected to grow at constant CAGR of around 4.50% during the forecast period, 2018-2023.

The new research from Ameco Research on Global Automotive Thermal Management System Market Report for 2023 intends to offer target audience with the fresh outlook on market and fill in the knowledge gaps with the help of processed information and opinions from industry experts. The information in the research report is well-processed and a report is accumulated by industry professionals and seasoned experts in the field to ensure of the quality of research.

The research is backed by extensive and in-depth secondary research which involves reference to various statistical databases, national government documents, relevant patent and regulatory databases, news articles, press releases, company annual reports, webcasts, financial reports, and a number of internal and external proprietary databases. This estimated data is cross-checked with industry experts from various leading companies in the market. After the entire authentication process, these reports are shared with subject matter experts (SMEs) for adding further value and to gain their insightful opinion on the research. With such robust process of data extraction, verification, and finalization, we firmly endorse the quality of our research. With such extensive and in-depth research and comprehensive coverage of information, it is always a possibility of clients finding their desired information in the report with enclosure of key components and valuable statistics in all regards.

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Thermal management is used in vehicles to monitor and regulate the temperature of the various system, such as engine, transmission, passenger cabin area, and HVAC components. The main functions of the automotive thermal management system are heat transfer, reduction in thermal loads, and waste heat recovery. Thermal management system can improve passenger comfort, powertrain performance, and the travel experience. In conventional internal combustion, thermal management system includes engine, transmission, and other components and are designed to regulate the temperature of engines and transmission systems. In electric vehicles, thermal management systems are used to improve the range of efficiency for the vehicle. The main functions of the thermal management system are heating, ventilation, and air conditioning (HVAC), which facilitate and maintain ambient temperature inside the cabin by controlling cabin atmosphere, as per the requirement of passengers.

Factors such as high stringency in emission regulation and fuel efficiency and rising sales of electric vehicles driving the global automotive thermal management system market. Concurrently, the high cost of thermal management system technology and strict government norms on the use of refrigerants could restrain the market growth to a certain extent.

Regional Analysis

In terms of value, the global automotive thermal management system market is expected to grow at 4.50% CAGR during the forecast period, 2018-2023. In 2017, the market was led by Asia-Pacific with 36.17% share, followed by Europe and North America with shares of 32.81% and 24.02%, respectively.

Asia-Pacific is projected to be the fastest-growing regional market for automotive thermal management system. China holds a substantial market share for the thermal management system, owing to the continuous increase in the automotive component industry in the country and massive increase in sales of ICE vehicles and electric vehicles. Furthermore, the easy availability of skilled labor and the low cost of establishing manufacturing plants in China have resulted in rapid industrialization and several global companies shifting their plants to the country. The rise in demand for automobiles by the growing population is expected to drive the market in China during the forecast period.

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Key Players

Some of the key players of the market are BorgWarner Inc. (US), Robert Bosch GmbH (Germany), Dana Limited (US), VOSS Automotive GmbH (Germany), Modine Manufacturing Company (US), Denso Corporation (Japan), MAHLE GmbH (Germany), Valeo (France), Gentherm (US), and Hanon Systems (South Korea).

Objective of the Global Automotive Thermal Management System Market Report—Forecast till 2023

  • To provide insights into factors the influencing market growth
    • To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
    • To provide historical and forecast revenue of the market segments based on system, compoenent type, technology, application, vahicle type, and region
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
  • Target Audience

    • Associations and industrial bodies
    • Component suppliers and distributors
    • End users of thermal management system
    • Hybrid System Manufacturers
    • Government bodies such as regulatory authorities and policymakers
    • Electric Vehicle manufacturers

    Key Findings

    • The powertrain cooling segment of the global automotive thermal management system market, by system, is projected to register the highest CAGR of 5.27% during the forecast period.
    • The battery segment of the global automotive thermal management system market, by component type, is projected to register the highest CAGR of 5.10% during the forecast period.
    The reduced HVAC system loading segment of the global automotive thermal management system market, by technology, is projected to register the highest CAGR of 5.39% during the forecast period.
    The waste heat recovery segment of the global automotive thermal management system market, by application, is projected to register the highest CAGR of 5.79% during the forecast period.
    The electric vehicle segment of the global automotive thermal management system market, by vehicle type, is projected to register the highest CAGR of 6.69% during the forecast period.
    • Asia-Pacific is expected to dominate the automotive thermal management system market during the review period. The regional market is expected to register a CAGR of 5.00% to reach a market size of USD 26.07 billion by the end of 2023.

    The regional analysis includes:

    • North America
    o US
    o Canada
    • Europe
    o Germany
    o UK
    o Italy
    o France
    o Rest of Europe
    • Asia-Pacific
    o China
    o Japan
    o South Korea
    o India
    o Rest of Asia Pacific
    • Rest of the World
    o South America
    o Middle East & Africa

    Available customization:

    With the given market information, Ameco research offers customization's in line with the company's specific wishes. The following customization choices unit of measurement accessible for the report:
    Regional and country-level analysis of the Global Automotive Thermal Management System Market, by end-use.
    Detailed analysis and profiles of additional market players.

    Table of Contents

    Global Automotive Thermal Management System Market Research Report Forecast to 2023

    1 Executive Summary

    2 Market Introduction
    2.1 Definition
    2.2 Scope of the Study
    2.3 List of Assumptions
    2.4 Market Structure
    2.5 Macro Factor Indicator Analyses
    2.6 Key Takeaways
    2.7 Key Buying Criteria

    3 Research Methodology
    3.1 Research Process
    3.2 Primary Research
    3.3 Secondary Research
    3.4 Market Size Estimation
    3.5 Forecast Model

    4 Market Dynamics
    4.1 Introduction
    4.2 Drivers
    4.2.1 High Stringency in Emission Regulation and Fuel Efficiency
    4.2.2 Rising Sales of Electric Vehicles
    4.2.3 Drivers Impact Analysis
    4.3 Restraint
    4.3.1 High Cost of Thermal Management System Technology
    4.3.2 Strict Government Norms on the Use of refrigerants
    4.3.3 Restraint Impact Analysis
    4.4 Opportunity
    4.4.1 Rising Awareness about Driver Comfort

    5 Market Factor Analysis
    5.1 Value Chain Analysis
    5.2 Porter's Five Forces Analysis
    5.2.1 Threat of New Entrants
    5.2.2 Bargaining Power of Suppliers
    5.2.3 Bargaining Power of Buyers
    5.2.4 Threat of Substitutes
    5.2.5 Rivalry
    5.3 Technology Trends: Automotive Thermal Management System
    5.3.1 The HVAC systems manufacturers are replacing existing HFO-1234yf cooling technology with the R-134a and R1234yf technology, for automotive HVAC systems due to the harmful effects of some refrigerants.
    5.3.2 Advanced Thermal Management Technologies for high power density automotive equipment
    5.3.3 Trend of thermal cooling solution within the vehicles for different components
    5.3.4 Trends on lighting system or inverter/ IGBT or electronic control unit (ECU).
    5.3.5 Updates in the mandatory government standards for automotive thermal management systems
    5.3.6 The availability of different thermal solutions for automotive thermal management
    5.4 Regulatory Landscape
    5.5 Patent Trends: Automotive Thermal Management System

    6 Global Automotive Thermal Management System Market, By System
    6.1 Overview
    6.1.1 Heating, ventilation, and air conditioning (HVAC)
    6.1.2 Powertrain Cooling
    6.1.3 Fluid Transport
    6.1.4 Others

    7 Global Automotive Thermal Management System Market, By Component Type
    7.1 Overview
    7.1.1 Motor
    7.1.2 Battery
    7.1.3 Cabin Area

    8 Global Automotive Thermal Management Market, By Technology
    8.1 Overview
    8.1.1 Engine Thermal Mass Reduction
    8.1.2 Active transmission warmup
    8.1.3 Exhaust Gas Recirculation (EGR)
    8.1.4 Reduced HVAC system loading
    8.1.5 Other

    9 Global Automotive Thermal Management Market, By Application
    9.1 Overview
    9.1.1 Engine Cooling
    9.1.2 Air Conditioning
    9.1.3 Heated Steering
    9.1.4 Waste Heat Recovery
    9.1.5 Transmission System
    9.1.6 Heated/Ventilated Seats
    9.1.7 Others

    10 Global Automotive Thermal Management Market, By Vehicle Type
    10.1 Overview
    10.1.1 Internal combustion engine (ICE) Vehicle Passenger Cars Commercial Vehicle
    10.1.2 Electric Vehicle Battery Electric Vehicle (BEV) Hybrid Electric Vehicle Plug-in Hybrid Electric Vehicles (PHEVs) Fuel Cell Electric Vehicle (FCEV)

    11 Global Automotive Thermal Management System Market, by Region
    11.1 Introduction
    11.2 North America
    11.2.1 US
    11.2.2 Canada
    11.3 Europe
    11.3.1 UK
    11.3.2 Germany
    11.3.3 Italy
    11.3.4 France
    11.3.5 Rest of Europe
    11.4 Asia-Pacific
    11.4.1 China
    11.4.2 Japan
    11.4.3 India
    11.4.4 South Korea
    11.4.5 Rest of Asia-Pacific
    11.5 Rest of the World (RoW)
    11.5.1 South America
    11.5.2 Middle East & Africa

    12 Competitive Landscape
    12.1 Competitive Scenario
    12.2 Market Share Analysis
    12.3 Competitor Benchmarking
    12.4 New Product Developments
    12.5 Merger & Acquisition
    12.6 Expansion
    12.7 Joint Ventures and Collaborations

    13 Company Profiles
    13.1 BorgWarner Inc.
    13.1.1 Company Overview
    13.1.2 Financial Overview
    13.1.3 Products/Services Offered
    13.1.4 Key Developments (2014–2018)
    13.1.5 SWOT Analysis
    13.1.6 Key Strategies
    13.2 Robert Bosch GmbH
    13.2.1 Company Overview
    13.2.2 Financial Overview
    13.2.3 Products/Services Offered
    13.2.4 Key Developments (2014–2018)
    13.2.5 SWOT Analysis
    13.2.6 Key Strategies
    13.3 Dana Limited
    13.3.1 Company Overview
    13.3.2 Financial Overview
    13.3.3 Products/Services Offered
    13.3.4 Key Developments (2014–2018)
    13.3.5 SWOT Analysis
    13.3.6 Key Strategies
    13.4 VOSS Automotive GmbH
    13.4.1 Company Overview
    13.4.2 Financial Overview
    13.4.3 Products/Services Offered
    13.4.4 Key Developments (2014–2018)
    13.4.5 SWOT Analysis
    13.4.6 Key Strategies
    13.5 Modine Manufacturing Company
    13.5.1 Company Overview
    13.5.2 Financial Overview
    13.5.3 Products/Services Offered
    13.5.4 Key Developments (2014–2018)
    13.5.5 SWOT Analysis
    13.5.6 Key Strategies
    13.6 Denso Corporation
    13.7 MAHLE GmbH
    13.7.1 Company Overview
    13.7.2 Financial Overview
    13.7.3 Products/Services Offered
    13.7.4 Key Developments (2014–2018)
    13.7.5 SWOT Analysis
    13.7.6 Key Strategies
    13.8 Valeo
    13.8.1 Company Overview
    13.8.2 Financial Overview
    13.8.3 Products/Services Offered
    13.8.4 Key Developments (2014–2018)
    13.8.5 SWOT Analysis
    13.8.6 Key Strategies
    13.9 Gentherm
    13.9.1 Company Overview
    13.9.2 Financial Overview
    13.9.3 Products/Services Offered
    13.9.4 Key Developments (2014–2018)
    13.9.5 SWOT Analysis
    13.9.6 Key Strategies
    13.1 Hanon Systems
    13.10.2 Financial Overview
    13.10.3 Products/Services Offered
    13.10.4 Key Developments (2014–2018)
    13.10.5 SWOT Analysis
    13.10.6 Key Strategies

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