Global Automotive Thermal Management System Market

  • 4400.00 Dollar US$
  • Published date: February 5, 2021
    • Pune, Bombooflat, Andaman and Nicobar Islands, India
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Global Automotive Thermal Management System Market was valued US$ XX Mn. in 2019 and is expected to grow US$ XX Mn. by 2027, at a CAGR of 6.5% during the forecast period.

Global Automotive Thermal Management System Market

The report study has analyzed revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

Market Overview:

Thermal management is the process of controlling the heat and temperature over technology. The thermal management system is used in vehicles to monitor and regulate the temperature of several systems, like 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.

The concentration of automotive manufacturers towards differentiating their products from their competitors’ will also demand the need for the automotive thermal management system. The key players in the global automotive thermal management system market, such as Denso Corporation, Modine Manufacturing Company, MAHLE GmbH, Valeo, Gentherm, and other fifteen players are profiled in the report.

Market Dynamics:

Thermal management systems are integral to control the climate of the cabin and seats to improve passenger comfort. Along with improving passenger comfort, the implementation of thermal management systems will also improve automobile safety. Automotive electronics manufacturers are progressively focusing on capable cooling as a battery cooling system as devices in the ignition system can heat up and generate high thermal intensity very quickly. LED devices feature a thermal intensity of up to 600 W per square cm, due to their small size. This makes it hard for automotive manufactures to control since an increase in the working temperature considerably decreases the working life. Factors, like high strictness in emission regulation, fuel efficiency, energy storage systems, growing consumption of rechargeable batteries in consumer electronics, together with technical advancements, and rising sales of electric vehicles driving the growth of the global automotive thermal management system market. For example, in 2019, electric vehicle sales have reached approximately 2.2% of the global electric vehicle market as a slew of new models hit the road.

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