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Automotive Thermal Management Market worth $58.99 billion by 2030, growing at a CAGR of 5.48% - Exclusive Report by 360iResearch
Automotive Thermal Management Market | 360iResearch
The Global Automotive Thermal Management Market to grow from USD 40.58 billion in 2023 to USD 58.99 billion by 2030, at a CAGR of 5.48%.
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Automotive thermal management refers to the system and processes within a vehicle that maintain optimal thermal conditions for passengers' comfort, efficiency, and longevity of vehicle components. This involves regulating the temperature of various systems and parts, such as the engine, transmission, electric motor, battery, and cabin space. Efficient thermal management is crucial in ensuring that these components operate within their ideal temperature ranges, thereby enhancing performance, reducing emissions, improving energy efficiency, and ensuring the security and convenience of vehicle occupants. The automotive thermal management system finds applications across various segments, such as engine cooling, battery thermal management for electric and hybrid vehicles, HVAC for passenger comfort, and transmission system cooling. The end-users of these systems include passenger vehicles, commercial vehicles, and high-performance sports cars, with customized solutions for electric and hybrid vehicles significantly influencing the market scope. Factors contributing to the development of the automotive thermal management market include increasing vehicular emission standards, growing demand for energy-efficient vehicle systems, advancements in automotive electronics, and rising sales of electric and hybrid vehicles. However, the expansion of automotive thermal management is hindered by various challenges, such as high costs associated with advanced thermal management systems, particularly for EVs, complexities involved in integrating thermal management with other vehicular systems, and technological challenges, such as heat dissipation in increasingly compact vehicles. On the other hand, the integration of advanced materials, including phase change materials (PCMs) and thermoelectric materials that improve system efficiency, adoption of HVAC systems with environmentally-friendly refrigerants, and incorporation of smart thermal management systems capable of autonomous regulation presents potential opportunities for the widespread adoption of automotive thermal management.
The Americas, primarily the United States and Canada, exhibit a healthy demand for automotive thermal management due to stringent emission norms and high consumer awareness regarding fuel-efficient systems. The U.S. market sets a strong trend for adopting hybrid and electric vehicles, which drives the need for sophisticated thermal management systems. Canada's automotive market, while smaller than the U.S., is equally focused on reducing emissions and integrating advanced thermal management solutions in vehicles. Electric vehicle adoption is rising, spurred by governmental initiatives and investments. South America's automotive thermal management market is developing steadily. Factors such as improving economic conditions, investments in automotive manufacturing, and rising consumer demand for vehicles are propelling market growth. EU countries prioritize environmental regulations and have spearheaded some of the most ambitious goals for emissions reductions globally. This has led to heightened demand for advanced thermal management technologies. Customers seek vehicles that meet these standards while providing comfort and efficiency. Countries, including Germany, France, and the UK are innovation hubs for thermal management technology, further accelerating regional market performance. The Middle East and African (MEA) regions show potential for growth in the automotive thermal management market. While the market is relatively small compared to other regions, factors such as increased vehicle sales, rising temperatures due to climate change, and growing awareness about vehicle efficiency are expected to boost the market. The Asia Pacific region, particularly China, Japan, and India, has emerged as a dynamic hub for the automotive thermal management market. These markets are driven by a massive consumer base, increasing automobile production, and a growing concern for vehicle efficiency and emissions. The Chinese market has seen significant investments in electric vehicle (EV) production and infrastructure, influencing the demand for advanced thermal management systems. In India, with increasing urbanization and economic growth, the demand for vehicles is on the rise. Consumer awareness about vehicle efficiency and emission norms is growing, influencing purchasing decisions and the adoption of advanced thermal management technologies.
Market Segmentation & Coverage:
This research report categorizes the Automotive Thermal Management Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Active Thermal Management and Passive Thermal Management. The Active Thermal Management is projected to witness significant market share during forecast period.
Based on Component, market is studied across Coolant Hoses, Fans & Fan Clutches, Radiators, Thermostats, and Water Pumps. The Radiators is projected to witness significant market share during forecast period.
Based on Vehicle Type, market is studied across Commercial Vehicles, Electric Vehicles (EVs), Hybrid Vehicles, and Passenger Vehicles. The Commercial Vehicles is projected to witness significant market share during forecast period.
Based on Application, market is studied across Battery Thermal Management, Cabin Thermal Management, Engine Cooling, Exhaust Gas Recirculation Thermal Management, Motor & Power Electronics Thermal Management, Transmission Thermal Management, and Waste Heat Recovery. The Transmission Thermal Management is projected to witness significant market share during forecast period.
Based on Sales Channel, market is studied across Aftermarket and Original Equipment Manufacturer. The Aftermarket is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 37.92% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Automotive Thermal Management Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Thermal Management Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Automotive Thermal Management Market, highlighting leading vendors and their innovative profiles. These include Advanced Thermal Solutions, Inc., BorgWarner Inc., Dana Incorporated, Delta Electronics, Inc., Denso Corporation, Dober, Gentherm Incorporated, Hanon Systems, HELLA GmbH & Co. KGaA by Faurecia, Infineon Technologies AG, Kendrion NV, Koninklijke DSM N.V., MAHLE GmbH, Marelli Holdings Co., Ltd., Modine Manufacturing Company, Norma Group, Robert Bosch GmbH, Schaeffler AG, Solvay S.A., Thermal Management Solutions Group, TitanX Holding AB, Valeo Group, Voss Automotive, Ymer Technology AB, and ZF Friedrichshafen AG.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Thermal Management Market, by Type
7. Automotive Thermal Management Market, by Component
8. Automotive Thermal Management Market, by Vehicle Type
9. Automotive Thermal Management Market, by Application
10. Automotive Thermal Management Market, by Sales Channel
11. Americas Automotive Thermal Management Market
12. Asia-Pacific Automotive Thermal Management Market
13. Europe, Middle East & Africa Automotive Thermal Management Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Automotive Thermal Management Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Thermal Management Market?
3. What is the competitive strategic window for opportunities in the Automotive Thermal Management Market?
4. What are the technology trends and regulatory frameworks in the Automotive Thermal Management Market?
5. What is the market share of the leading vendors in the Automotive Thermal Management Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Thermal Management Market?
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