Automotive Thermal Management System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Automotive Thermal Management System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : September, 2022 | Automotive

Report Digest


Automotive Thermal Management System Market: Overview

The automotive battery thermal management market is growing rapidly on the back of the increasing popularity of different electric vehicles among various countries across the world. This factor serves as a significant growth factor in the market. Further, the increasing disposable income also encourages individuals to purchase passenger vehicles. This factor further leads to increasing growth opportunities in the automotive battery thermal management market.

Battery thermal management systems have wide use to track battery overheating and poor performance. The effective automotive battery thermal management system is expected to contribute to increasing the battery life. This system also helps to extend the overall life period of the battery. Further, the application of automotive battery thermal management systems is crucial to ensure the appropriate working environment of the battery. This management system also enhances the battery durability for longer life. Further, these benefits from the automotive battery thermal management services are expected to fuel opportunities in the automotive battery thermal management market. 

Automotive Thermal Management System Market: Key Trends

The automotive battery thermal management market is divided into heat exchanger, heater control unit, electric compressor, condenser, water pump, air filter, and others on the basis of component. The application of the automotive battery thermal management systems in heated steering, electric vehicle battery thermal system, and engine cooling is vital. Further, the extensive use of the system in transmission systems and air conditioning systems is anticipated to fuel growth opportunities in the automotive battery thermal management market.

The key players from the automotive battery thermal management market are investing a handsome amount in different R & D activities in recent years. The motive of this investment is to boost technological advancements in the market. This factor is expected to boost sales opportunities in the automotive battery thermal management market.

The onset of electric cars in the market is a revolutionary step in the global automobile industry. The increasing sales of these electric cars are anticipated to lead to various market changes. The electric car stock has hit 10 Mn as per the statistics provided by the Internal Energy Agency. In 2019, this statistic is a 43% increase. Further, the findings have highlighted around two-third of total new electric car registrations have accounted for battery electric vehicles. This data clearly states the rising demand for these electric vehicles across different geographical locations. This factor is predicted to create demand opportunities in the automotive battery thermal management market.

Automotive Thermal Management System Market: Competitive Dynamics and Key Developments

The key players serving in the automotive battery thermal management market are incorporating different strategies to fuel the growth opportunities. Some of the significant strategies are partnership, novel product launch, acquisition, collaboration, and many more.

Some of the key players in the automotive battery thermal management market include:

  • Robert Bosch GmbH
  •  MAHLE GmbH,
  • BorgWarner
  • Denso Corporation,
  • ZF Friedrichshafen
  • Valeo
  • Aptiv Inc.

Automotive Thermal Management System Market: Regional Assessment 

The automotive battery thermal management market is spread across various geographical locations including North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Among these regions across the world, Europe holds a prominent position in the market. This growth is on the back of an increasing share of the region for the automotive battery thermal management market. The application of stringent norms in the different countries across the region is estimated to increase the EVs sales.

Asia Pacific region is also anticipated to emerge as a prominent region in the automotive battery thermal management market due to the presence of key automotive manufacturing companies in the region.

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

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Accurate Trend Analysis

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Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

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COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?