Increasing Demand for Carbon Footprint Reduction to Expand Automotive Thermal Management Market
Description: –
Automotive thermal management solutions are in high demand owing to its effectiveness in reducing waste heat. Some of the key utilities of the product are – reduction of thermal loads, transfer of heat efficiently, and reuse of waste heat. With the growth of the automotive industry, the global automotive thermal management market is expected to flourish over the next couple of years. This report presents an observation about the global market after assessing key developments, current market status, and historic trends. A healthy future trajectory, according to this study, is predicted for the automotive thermal management market.
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The major Players covered in this report
Denso, Gentherm, MAHLE, Valeo, Borgwarner, Dana, Calsonic Kansei, Eberspacher, Continental, Schaeffler, Captherm, Bosch, Hella, Johnson Electric, ………….
Also, the global market is presumed to earn decent amount of revenues over the next couple of years.In the latter half of 2018, the United Nations Organization has revealed that the impacts of climate change on earth is irreversible. This has expedited efforts of the key players in the automotive thermal management market to launch fuel efficient technologies. New product launches are supposed to revolutionize the automotive thermal management market in the forthcoming years. Also, the efforts and investments directed towards the reduction of carbon emissions are prognosticated to develop the automotive thermal management market in the forthcoming years. Technological innovations are poised to have an encouraging impact on the expansion of the automotive thermal management market in the foreseeable future.
HVAC systems have penetrated the thermal management market on the global front. Increasing the use of the technology is anticipated to catapult the automotive thermal management market on growth curve. The rising demand for both commercial and passenger cars is further presumed to expand the market in the forthcoming years. The development of the global economy is projected to fuel demand for automobiles. It is anticipated to boost the sales in the automotive thermal management market in the nearby future. Also, with the rising demand for high-end cars, the technology is likely to witness large-scale adoption in the years to come.
Market Segmentation:
On the basis of type, the automotive thermal management market has been segmented into active transmission warmup, exhaust, gas recirculation (EGR), engine thermal mass reduction, reduced HVAC system loading, and other technologies.
Application-wise segments of the global automotive thermal management market have been segmented into passenger car, Light Commercial Vehicle (LCV), truck, and bus.
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Regional Analysis:
The regional segments of the global automotive thermal management market are – Southeast Asia, Japan, India, Europe, China, and North America. Europe holds a key place in the global automotive thermal management market owing to the presence of a burgeoning automotive industry in the region. It is also poised to witness technological advancements that are likely to drive market expansion. Asia Pacific automotive thermal management market is prognosticated to observe moderate rate of growth in the upcoming years.
Industry News:
In September 2019, ExxonMobil, an American multinational oil and gas corporation, has announced the launch of
Mobil EV™ for the battery electric vehicles. Other products Mobil EV product range are thermal management fluids, lubricants, grease, etc.
Major Key Points in Table of Content:
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