The factors that are responsible for the growth of automotive thermal management system market are stringent environmental regulations, innovation in powertrain and passenger comfort technologies, growing sales of electric vehicles, and among others. European automakers are developing various types of technologies such as exhaust-gas recirculation (EGR) cooling, variable mechanical devices, and replacement of mechanical with electric pumps and accessories to improve the efficiency of the thermal management system. Passenger comfort technologies tend to improve the cabin comfort and reduce fuel consumption. The reduced consumption will increase the use of thermal management system in the vehicle, which will drive the market. Also, there has been an increase in the sales of electric vehicles in countries such as China, Japan, and the U.S. The increased sales will result in high demand for thermal management in systems such as motor, battery, cabinet area, and others.
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The report for Global Automotive Thermal Management System Market of Market Research Future covers extensive primary research accompanied with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecast market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detailed information about the strategies of the top companies in the industry. The report also gives a broad study of the different market segments and regions.
Detailed Regional Analysis:
On the basis of region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market during the forecast period. The automotive thermal management systems require significant initial investments, which becomes the entry barrier for the small companies in the market. The availability of sophisticated technologies related to thermal management system in region such as North America, Europe, and Asia Pacific region has propelled the demand in the automotive thermal management system market. Existence of major manufacturers in these regions along with their partnerships with the local players, over time, have deepened the scope of the market in these regions.
On the other hand, the lack of major market players and advanced technologies have resulted in alienating certain geographies, specifically in the African region. North America is expected to be the second largest market to grow during the forecast period due to immense demand of commercial vehicles in U.S. With the increase in demand of commercial vehicles there has been an increase in demand for automotive thermal management system market. Increased travel time generates the need for adoption of advanced technologies, such as thermal management system and climate control system for the desired comfort. The advancement in the technologies will hence result in the growth of the market during the forecast period. Europe is expected to be the third largest market to grow during the forecast period due to presence of major manufacturers in this region. U.K, Germany, and Italy account for a majority of the market share of automotive thermal management systems in this region.
The automotive thermal management system market is segmented based on component, system, vehicle type, and electric vehicle type. On the basis of component, the market is segment into compressor, HVAC, powertrain cooling, and fluid transport. The compressor segment is expected to dominate the market during the forecast period because it performs tasks such as superheat, removes latent heat, and generate the flow of refrigerant. The compressor absorbs the vapor refrigerant from the suction line and compresses the vapor to superheat and allow the air conditioner compressor to generate the flow of refrigerant in the system. On the basis of system, the market is segmented into motor, battery, cabinet area, and others. The battery segment is expected to dominate the market in the future because of the increased use of batteries in the electric vehicles. The increased sales of electric vehicle in will enable the growth of battery during the forecast period.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimatio
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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