Our comprehensive research on the Global Automotive Thermal Management System Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global automotive thermal management system market size was US$ 39.9 billion in 2021. The global automotive thermal management system market is forecast to grow to US$ 48.1 billion by 2030, registering a compound annual growth rate (CAGR) of 3.8% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The growing number of advancements in technology and in-vehicle electronic industry is likely to propel the automotive thermal management system market forward.
The increasing necessity for effective power distribution in the system temperature and rising demand for system temperature maintenance will fuel the growth of automotive thermal management systems. Auto components providers are putting more effort into expanding their presence. As a result, the automotive thermal management system market will get benefit from it.
Stringent government norms regarding vehicle thermal management systems may limit the growth of the global market.
Leading automotive OEMs are currently working to improve the integration of waste heat recovery systems into their vehicles. Thus, it will improve fuel efficiency, which will fuel the market’s growth.
The market’s development is dominated by the integration of automotive battery thermal management systems with other electric thermal management systems.
Regional Analysis
Asia-Pacific accounted for the majority of the global automotive thermal management system market share. During the projected period, Asia Pacific is expected to dominate the automotive thermal management system market due to the growing automotive segment. Furthermore, North America is expected to register growth at the highest CAGR in the global market due to the growing disposable income of the population.
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Competitors in the Market
- Denso Corporation
- Modine Manufacturing Company
- MAHLE GMbH
- Valeo
- Gentherm
- Hanon Systems
- Dupont
- Renesas Electronics Corporation
- Ymer Technology
- NORMA Group
- Borgwarner Inc.
- Robert Bosch GmbH
- Dana Limited
- Voss Automotive GmbH
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Automotive Thermal Management System industry experienced notable growth in its workforce. Starting in January, employment within the Automotive Thermal Management System sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Automotive Thermal Management System output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Automotive Thermal Management System output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Automotive Thermal Management System market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Automotive Thermal Management System market.
Market Segmentation
The global automotive thermal management system market segmentation focuses on Application, Vehicle, Technology, and Region.
Automotive Thermal Management System Market, by Application Type
- Engine Cooling
- Front Air Conditioning
- Rear Air Conditioning
- Transmission System
- Heated/Ventilated Seats
- Heated Steering
- Waste Heat Recovery
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Automotive Thermal Management System Market, by Vehicle Type
- Passenger Cars
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Automotive Thermal Management System Market, by Technology
- Active Transmission Warm-Up
- Exhaust Gas Recirculation
- Engine Thermal Mass Reduction
- Reduced HVAC System Loading
- Other
Automotive Thermal Management System Market, by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Automotive Thermal Management System Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Automotive Thermal Management System Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Automotive Thermal Management System Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Automotive Thermal Management System Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Automotive Thermal Management System market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Automotive Thermal Management System market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Automotive Thermal Management System business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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