Thermal management systems (TMS) are integral to control the climate of the cabin and seats to enhance passenger comfort. Global Automotive Thermal Management Market is accounted for $50.83 billion in 2017 and is expected to reach $75.03 billion by 2026 growing at a CAGR of 4.4% from 2017 to 2026.
Increased stringency in emission regulation to upsurge the fuel economy, rising demand for comfort features, advancement in mobility solutions and need for power extension to uplift the thermal management market are some of the key factors propelling the market growth. However, factors such as high cost of thermal system technology are restricting the market growth.
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Some of the key players in Automotive Thermal Management market include Calsonic Kansei, MAHLE, Valeo, Gentherm, Schaeffle, Dana, Denso, Continental, Borgwarner, Eberspacher, AVID, Bosch, CapTherm Systems, DuPont, Hanon Systems and VOSS Automotive.
By application, a waste heat recovery system is an energy recovery system that transfers heat from process outputs at high temperature to another part of the process for maintaining the vehicle temperature. This technology is an efficient way to save fuel and reduce CO2 emissions from vehicles. Today, very less manufacturers are using waste heat recovery systems in their vehicles such as BMW and Ford.
By geography, Asia Pacific will be the major contributor to the global market and this will mainly be attributed to factors such as the large population and the growth of local vendors who supply cost-effective spares. The availability of various automobile segments owing to the improving per capita income and the abundant supply of raw materials that make the region a low-cost market for automobiles and parts, will also drive the growth prospects of this market in Asia Pacific.
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Table of Contents
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Automotive Thermal Management Market, By Technology
6 Global Automotive Thermal Management Market, By Vehicle Type
7 Global Automotive Thermal Management Market, By Application
8 Global Automotive Thermal Management Market, By Geography
9 Key Developments
10 Company Profiling
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This post was originally published on Analytics News