Automotive Thermal Management Market 2020 Advancement and Precise Outlook- Denso Corporation, Robert Bosch GmbH, Mahle GmbH

Global Automotive Thermal Management Market - Growth, Trends, And Forecast (2020 - 2025)

The global automotive thermal management market is expected to register a CAGR of 5.89%, during the forecast period, 2019-2024. This report provides along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities, and challenges in the Automotive Thermal Management market. This research report offers an in-depth analysis of the market size (revenue), market share, major market segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities, and challenges.

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Key manufacturers are included based on the company profile, sales data, and product specifications, etc.: Denso Corporation, Robert Bosch GmbH, Mahle GmbH, Modine Manufacturing Company etc.

- With growing advancement in-vehicle electronics and electrification systems (such as infotainment, navigation, and HVAC systems, electric drive and transmission, etc.), the need for the efficient power distribution as well as maintaining the above systems temperature has been significantly driving the demand for thermal management system in the automotive industry.
- The electric vehicle market is rapidly growing across the world. Among, the regions, Europe is likely to see faster adoption of electric vehicles compared to other regions during the forecast period. In Europe, electric vehicle sales increased by 50% in 2018, as compared to that of 2017. By 2040, nearly 54% of the new car sales and 33% of the global car fleet are expected to be electric. The European government formulated various policies and started projects for building the charging infrastructure across the region, primarily to meet the electric vehicle sales target.
- Auto parts suppliers are accelerating efforts to strengthen their global competitiveness in the thermal energy management market with the advancement of vehicle electrification.
- Asia-Pacific continues to capture a major share of more than 25% in the global market, followed by Europe and North America. Additionally, companies in the Asia-Pacific are expanding their production capacities to capture the growing demand in the region during the forecast period.

Battery Thermal Management Witness Major Market Share

In vehicles, battery thermal management system is primarily used for managing and controlling the cells temperature in a battery pack. Safe and optimum use of the energy stored is highly essential in a vehicle battery pack, due to the growing electrification in vehicles. Also, features like start/stop, electric power steering, and electric braking systems have increased the power load on the battery. Therefore, prioritizing all these electrical loads on a scale from comfort to safety level has been a major issue in the vehicle electric system. Therefore, the intelligent battery management system (IBMS) has been gaining attention among the automakers, which aided its adoption across the world.

Moreover, factors such as the increasing demand for electric vehicles and energy storage systems and growing consumption of rechargeable batteries in consumer electronics, coupled with technical advancements, are aiding the markets growth significantly. For instance, in 2019, the electric vehicle sales have reached nearly 2.2% of the global electric vehicle market as a slew of new models hit the road.

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Further in the Automotive Thermal Management Market research reports, the following points are included along with an in-depth study of each point:

Production Analysis: Production of Automotive Thermal Management is analyzed with respect to different regions, types, and applications. Here, price analysis of various Automotive Thermal Management Market key players is also covered.

Supply and Consumption: In continuation of sales, this section studies supply, and consumption for the Automotive Thermal Management Market. This part also sheds light on the gap between supply and consumption.

Key Strategic Developments: The study also includes the key strategic developments of the Automotive Thermal Management market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, Global and regional growth of the leading competitors operating in the market on a Global and regional scale.

We Offer Customization On Report Based On Specific Client Requirement:

– Country Level analysis for any 5 countries of your choice.

– Competitive analysis of any 5 key market players.

– 40 analyst hours to cover any other data point.

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.