Market Outlook:

The Automotive Thermal Management System Market is anticipated to grow at a 4% CAGR from 2023 to 2030. The vehicle thermal management system keeps an eye on and maintains the temperature of critical car components. It regulates the temperature of several parts, such as the battery, motor, and cabin in cars, to deliver improved performance, enhanced fuel efficiency, and superior comfort. Effective thermal management enhances interior comfort while enabling automobile components to operate in the optimal temperature range via front air conditioning, seat heating, plus rear air conditioning.

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Key Competitors:

• Denso Corporation (Japan)
• Modine Manufacturing Company (US)
• MAHLE GmbH (Germany)
• Valeo (France)
• Gentherm (US)
• Hanon Systems (South Korea)
• DuPont (US)
• Continental AG (Germany)
• Renesas Electronics Corporation (Japan)
• Ymer Technology (Sweden)
• NORMA Group (Germany)
• BorgWarner Inc. (US)
• Robert Bosch GmbH (Germany)
• Dana Limited (US)
• VOSS Automotive GmbH (Germany)
• Others

Market Segmentation:

By Component Outlook

• Compressor
• HVAC
• Powertrain
• Cooling
• Fluid Transport

By Vehicle Type

• Outlook
• Passenger vehicles
• Commercial vehicles

By Application Outlook

• Front & rear A/C
• Engine and Transmission
• SeatBattery
• Motor
• Waste heat recovery

Regional classification

North America, Asia-Pacific (APAC), Europe, and the Rest of the World are the regional divisions of the global automotive thermal management system market.

Due to increasing investments in R&D to progress vehicle advanced technologies and a rise in the presence of prominent manufacturers, the North American market is among the important markets for global automotive thermal management systems. These factors will raise thermal management systems' revenue throughout the forecast timeframe.

Due to reasons including more significant government funding and assistance, investments in R&D, a sizable potential consumer base, plus consumer desire for fuel efficiency in automobiles, the market within North America for thermal management systems is expanding. During the projected period, these factors are anticipated to fuel North America's automotive thermal management system market expansion.

Industry news

One of the key factors propelling the automotive thermal management system market is the enhanced focus on reducing vehicle emissions. Due to its ability to lower vehicle emissions, thermal management systems are becoming more and more popular as environmental concerns develop. By helping to maintain the internal combustion engine's temperature consistently, the technique improves how well cars use fuel. Ineffective interior climate management can significantly increase fuel consumption and emissions, as well as safety risks due to fogging and windshield damage. Thus, there is a rise in the need for these systems worldwide as thermal management is given more attention to reducing vehicular emissions.

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