Automotive Thermal Management System Market Outlook – 2027
Global automotive thermal management is integral to control the climate of the cabin and seats to enhance passenger comfort.Automotive thermal management further helps in reducing thermal load on vehicle and helps to transfer heat efficiently.Automotive thermal management system monitors and controls various automobiles systems such as power electronics, battery, electric drive units, engine, transmission, and passenger cabin area. These systems help in increasing efficiency and prevent damage to the components.Technologies in automotive thermal management system are primarily used for reducing fuel emission and enhance passenger comfort,thus leading to the growth of global automotive thermal managementmarket in near future.
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COVID-19 SCENARIO ANALYSIS
- The global market for automotive thermal management system is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of automotive thermal management system, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities..
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The significant factors impacting the growth of global automotive thermal management systemareincrease in the demand for smart thermal management in automobiles and implementation of heating, ventilation and air conditioning(HVAC) system in automobiles. However, issues related to design complexities and underdeveloped infrastructure for electric vehicles hampers the growth of global automotive thermal management system. On the other hand, government support for electric vehicles and advanced technology provides an opportunity to global automotive thermal management system market to grow in near future.
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Increase in the demand for smart thermal management in automobiles
Smart thermal management in automobiles consists of heat pump which helps in harvesting the available ambient energy to heat. With the help of these pump automotive thermal management system cools and demist the car cabins thus leading to the increasing demand of smart thermal management in automobiles.
Implementation of heating, ventilation, and air conditioning (HVAC) system in automobiles
Heating, ventilation and air conditioning (HVAC) needs a control system to regulate the operations of heating. HVAC system controls the internal temperature of the vehicle cabin and also controls the air temperature, humidity and moist content from the circulating air. This leads to the growth of global automotive thermal management system in near future.
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Key benefits of the report:
- This study presents the analytical depiction of global automotive thermal management systemmarketalong with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global automotive thermal management systemmarket share.
- The current market is analyzed from 2020 to 2027 to highlight the global automotive thermal management systemmarketgrowth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global automotive thermal management system marketanalysis depending on competitive intensity and how the competition will take shape in coming years.
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