Automotive Thermal Management System Market 2019 Global Industry Analysis By Size, Growth, Share, Trends, Competitive Landscape, And Regional Forecast To 2023
Automotive Thermal Management System Market 2019 Global Industry Analysis To 2023 Report, published by “MarketResearchFuture, The Global Automotive Thermal Management System Market Size to Expand at a Notable CAGR Of 4.50% by 2023.
Pune, India – May 22, 2019 /MarketersMedia/ —
Global Automotive Thermal Management System Market segments analyzed By System (Heating, Ventilation and Air Condition (HVAC), Powertrain Cooling, Fluid Transport and others), Technology (Active Transmission Warmup, Exhaust gas recirculation (EGR), Reduced HVAC System Loading and Other Technologies), Propulsion [Internal Combustion Engine (ICE) Vehicle, and Electric Vehicle (Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle)], Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Region With forecast 2019 to 2023.
Thermal management is a crucial component in modern vehicle systems. It monitors and regulates the temperature of automotive components such as transmission, passenger cabin area, engine and HVAC components.
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Automotive Thermal Management System Industry Key Players Studied in Report: BorgWarner Inc., Robert Bosch GmbH, Dana Limited, VOSS Automotive Gmbh, Modine Manufacturing Company, MAHLE Gmbh, Denso Corporation, Valeo, Gentherm, Hanon Systems.
Global Automotive Thermal Management System Market 2019 Analysis:
Thermal management system performs important automotive functions, which include reducing thermal load, waste heat recovery, heat transfer, among others. Regulatory norms and international automotive standards have made thermal management systems a mandatory component. Moreover, installation of automotive thermal management system improves passenger comfort and powertrain performance to a significant extent. The system finds application is both conventional and electric cars.
OEMs are tapping into opportunities that have risen from increased stringency in emission regulation, growing importance of fuel efficiency and rising sales of electric vehicles. At the same time, increased focus towards driver comfort likely to reflect favorably on the market. Nonetheless, high cost of thermal management system technology and strict government norms on the use of refrigerants are creating hurdles.
Key questions answered by the report:
Which applications/segments provides the maximum Automotive Thermal Management System Market growth opportunity?
What are the emerging technologies and how it would disrupt the market?
Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?
What was the Automotive Thermal Management System Market size and what would be the forecast in next few years?
Regional and country attractiveness: mid to long term outlook?
Automotive Thermal Management System Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?
Market Segmentation:
Segmental analysis of the market has been conducted on the basis of system, technology, propulsion, vehicle type and region.
On the basis of system, the market has been segmented into heating, ventilation, and air conditioning (HVAC), powertrain cooling, fluid transport, and others. the HVAC segment accounted for the largest market share in 2017. During the forecast period, the segment is projected to exhibit 4.10% CAGR and surpass a market valuation of USD 23 Bn. HVAC comprises evaporator, compressor, condenser, receiver/drier, and expansion device. The increasing demand for HVAC system is supporting the growth of the segment.
Based on technology, the market has been segmented into active transmission warmup, exhaust gas recirculation (EGR), reduced HVAC system loading, and other technologies. The active transmission warmup segment currently accounts for the lion’s share of the market in terms of value. In addition, the segment is anticipated to reach a market valuation of more than USD 30.59 Mn by the year 2023. Active transmission warmup uses waste heat from the vehicle to quickly warm the transmission fluid using heat exchanger, enhancing the overall transmission efficiency.
Based on propulsion, the market has been segmented into internal combustion engine (ICE) vehicle and electric vehicle. The ICE vehicle segment accounted for nearly 92% share of the market in 2017. The segment is expected to exhibit a CAGR of 4.29% during the forecast period. Meanwhile, the electric vehicle segment is likely to witness a relatively higher CAGR over 2023. This is primarily due to the increased inclination towards adoption of clean energy and improved functional capacity of EVs.
Based on vehicle type, the market has been segmented into passenger vehicle and commercial vehicle. In 2017, the passenger vehicle segment accounted for 79.9% with a market valuation of over USD 42 Bn. Rise in demand for passenger vehicles and stricter regulation on emission standards are some of the factors supporting the growth of the segment.
Regional Outlook:
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC) and RoW. Asia Pacific is expected to remain a highly attractive market for automotive thermal management systems in the forthcoming years. In 2017, the region accounted for more than one-third share of the market in terms of value. APAC countries such as Japan, South Korea, China, and India are gaining mileage in automotive manufacturing. China accounted for the largest market share due to the increased demand for passenger and commercial vehicles. In APAC, the market in Japan is expected to witness the highest growth during the forecast period. Europe and North America are expected to retain their position as second and the third largest market for automotive thermal management system.
Research Methodology:
Immaculate methodologies applied by dexterous research analysts at Market Research Future (MRFR) bring out the best in the reports. The report is a specimen of deft handling of the subjected market as well which has undergone two complimenting methodology; primary and secondary. The primary method includes obtaining data from interviews and discussions with the market influencers and analyzing of the same for a better grasp over the said market. The method is followed by a secondary one that includes top-down and bottom-up approaches to gain profound insights regarding the industry. The report further contains a detailed analysis of the market trends, factors, and expert inputs to offer a better-quality report.
List of Tables:
TABLE 2 LIST OF ASSUMPTIONS 21
TABLE 3 AUTOMOTIVE THERMAL MANAGEMENT SYSTEM: MACRO FACTOR INDICATOR ANALYSES 22
TABLE 4 2017-2025 COMBINED AVERAGE PASSENGER CAR AND LIGHT TRUCK CAFE AND GHG EMISSION STANDARDS 42
TABLE 5 AUTOMOTIVE THERMAL MANAGEMENT SYSTEM: AUTOMOTIVE THERMAL SOLUTIONS 43
TABLE 6 AUTOMOTIVE THERMAL MANAGEMENT SYSTEM: REGULATORY LANDSCAPE 46 )
Continued…
List of Figures:
FIGURE 1 GLOBAL AUTOMOTIVE THERMAL MANAGEMENT SYSTEM MARKET: MARKET STRUCTURE 21
FIGURE 2 GLOBAL AUTOMOTIVE THERMAL MANAGEMENT SYSTEM MARKET: KEY TAKEAWAYS 22
FIGURE 3 GLOBAL AUTOMOTIVE THERMAL MANAGEMENT SYSTEM MARKET: KEY BUYING CRITERIA 23
FIGURE 4 RESEARCH PROCESS OF MRFR 25
FIGURE 5 TOP-DOWN & BOTTOM-UP APPROACHES 28
Continued…
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