Update News: Rise In Demand For In-Vehicle Electronic Systems To Drive The Automotive Thermal Management Market

Automotive Thermal Management Market: Key Highlights

• According to the new market research report “Automotive Thermal Management Market by Technology (Engine Thermal Mass Reduction, Exhaust Gas Recirculation (EGR), Reduced HVAC System Loading, Active Transmission Warmup, and Others), by Components (Heat Sink, Powertrain Cooling, Heating, Ventilation, and Air Conditioning (HVAC) Systems, Electric Water Pump, Temperature Sensor, Motor, Compressor, Air Filter and Others), by Application (Waste Heat Recovery, Battery Thermal Management, Power Electronics, Front/ Rear Air Conditioning, Engine Cooling, Motor Thermal System, Heated/ Ventilated Seats, and Others), by Vehicle Type (Internal Combustion Engine (ICE), Electric Vehicles and Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2019 to 2027)”, the automotive thermal management market is estimated to reach around USD 66.6 Billion by 2027 at a CAGR of around 5.1% during the review period
• The rise in demand for in-vehicle electronic systems is a key factor to propel the demand for the automotive thermal management market
• However, the high cost of thermal management system technology remains a major restraining factor for the market growth

Automotive Thermal Management Market: Key Market Dynamics

• With growing environmental concerns, stringent regulations were imposed for emission reduction, thus automotive manufacturers are focusing on reduction of CO2 emission and increased fuel efficiency. This increases the demand for thermal management during the review period
• The growing demand for in-vehicle electronic systems is expected to propel the automotive thermal management market growth during the assessment period
• Growing adoption of the electric vehicles is anticipated to boost the automotive thermal management market in the future
• Limited awareness of advanced thermal systems is likely to act as a challenge for market growth

Automotive Thermal Management Market: Regional Overview

• Asia-Pacific

The growth in the Asia-Pacific region is attributed to high production and sales of automobiles and the adoption of electric vehicles, that will penetrate the high usage of the automotive thermal management. Furthermore, stringent regulations in lowering CO2 emission and purchasing power of consumers will drive the market growth. A prominent country like China accounts for the largest automobile share in this region which is expected to boost the growth for the automotive thermal management market.

• Europe

In Europe, the increasing vehicle production, customers’ preference towards premium & electric vehicles and technological advancements have resulted in propelling the automotive thermal management market growth. Moreover, the European Union imposed standards for vehicle emissions will boost the market growth. Furthermore, Germany, UK, and France hold the major share for automobile production which indirectly propels the automotive thermal management market growth in this region.

Automotive Thermal Management Market: Key Players Overview

• MAHLE GmbH:

MAHLE GmbH is a German Based company that manufactures automotive parts. The company offers thermal management services, piston systems, small engine components, valve train, cylinder components, air management, liquid management systems, special engines, and others. In August 2018, the company announced its plan to acquire Behr Hella Service GmbH, which is its joint venture with Hella. The company plans to distribute latter’s products, including thermal management through its Aftermarket organization. Additionally, MAHLE announced intends to manage the spare parts business for thermal management by January 2020.

• Dana Limited:

Dana Limited is a US-based company that manufactures and develops automotive components. The company supplies driveshafts, transmissions, thermal, electrodynamic, sealing and others. In August 2019, the company acquired Quebec-based Nordresa Motors Inc. company which focuses on designing and integrating electric vehicle systems.

This acquisition will strengthen Dana’s electrification capabilities by combining the battery management system, electric powertrain controls, and integration expertise.

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