Automotive Thermal Management Market by Type, Component, Vehicle Type, Application, Sales Channel

Description

List of Tables

[184 Pages Report] The Automotive Thermal Management Market size was estimated at USD 40.58 billion in 2023 and expected to reach USD 42.58 billion in 2024, at a CAGR 5.48% to reach USD 58.99 billion by 2030.

Automotive thermal management refers to the system and processes within a vehicle that maintain optimal thermal conditions for passengers' comfort, efficiency, and longevity of vehicle components. This involves regulating the temperature of various systems and parts, such as the engine, transmission, electric motor, battery, and cabin space. Efficient thermal management is crucial in ensuring that these components operate within their ideal temperature ranges, thereby enhancing performance, reducing emissions, improving energy efficiency, and ensuring the security and convenience of vehicle occupants. The automotive thermal management system finds applications across various segments, such as engine cooling, battery thermal management for electric and hybrid vehicles, HVAC for passenger comfort, and transmission system cooling. The end-users of these systems include passenger vehicles, commercial vehicles, and high-performance sports cars, with customized solutions for electric and hybrid vehicles significantly influencing the market scope. Factors contributing to the development of the automotive thermal management market include increasing vehicular emission standards, growing demand for energy-efficient vehicle systems, advancements in automotive electronics, and rising sales of electric and hybrid vehicles. However, the expansion of automotive thermal management is hindered by various challenges, such as high costs associated with advanced thermal management systems, particularly for EVs, complexities involved in integrating thermal management with other vehicular systems, and technological challenges, such as heat dissipation in increasingly compact vehicles. On the other hand, the integration of advanced materials, including phase change materials (PCMs) and thermoelectric materials that improve system efficiency, adoption of HVAC systems with environmentally-friendly refrigerants, and incorporation of smart thermal management systems capable of autonomous regulation presents potential opportunities for the widespread adoption of automotive thermal management.

KEY MARKET STATISTICS
Base Year [2023]	USD 40.58 billion
Estimated Year [2024]	USD 42.58 billion
Forecast Year [2030]	USD 58.99 billion
CAGR (%)	5.48%

Type: Rising preference for active thermal management systems for ensuring optimal performance

Active thermal management (ATM) systems in the automotive industry refer to those that rely on external energy sources to control temperature. They involve components such as electrically driven pumps, fans, and thermostats that actively regulate the thermal state of a vehicle. This system is essential for ensuring optimal performance and longevity in various components, such as the engine, cabin, batteries in electric vehicles (EVs), and other electronic systems. ATM is generally preferred when real-time response and dynamic adjustability are required. This is particularly applicable to high-performance vehicles, heavy-duty trucks, and EVs where heat generation is considerable, and the precision of temperature control is critical for efficiency and safety. Passive thermal management (PTM) systems utilize the thermal properties of materials and the flow of heat through conduction, convection, and radiation without the need for external energy input. Components such as heat sinks, insulation, and thermal interface materials are common in PTM. These systems are widely used for their simplicity, reliability, and zero-energy consumption. PTM is particularly suitable for cost-sensitive market segments, including economy-class vehicles, focusing on reliable and maintenance-free operation with minimal design complexity. These systems are also preferred when the heat load is low to moderate or when strict energy budgets exist, such as in hybrid vehicles with smaller thermal footprints. When comparing ATM and PTM, it is clear that each has its advantages and preferred use cases. ATM provides dynamic and precise control, which is necessary for demanding applications but comes with increased complexity and cost. In contrast, PTM benefits from simplicity, reliability, and low cost but lacks the adaptability and responsiveness of ATM systems.

Component: Increasing usage of radiators in automotive thermal management for protecting engine from overheating

Coolant hoses are crucial for the proper operation of an automotive engine's cooling system. They are responsible for transferring coolant between the engine and the radiator. The need for high-quality coolant hoses is paramount, as they must withstand extreme temperatures and pressures without failing. Fans and fan clutches play a critical role in the automotive thermal management system by regulating airflow through the radiator, thereby assisting in maintaining optimal engine temperatures. Radiators are essential for dissipating heat from the coolant to the environment, preventing the vehicle's engine from overheating. Thermostats maintain the engine's temperature by regulating the flow of coolant. They ensure the engine heats up quickly and maintains optimal operating temperature. Water pumps are pivotal in ensuring the circulation of coolant through the engine, radiator, and heating system. Vehicles can suffer engine overheating and potential long-term damage without effective water pumps. When comparing the listed components, each serves a distinctive purpose within the automotive thermal management system. Coolant hoses are evaluated primarily based on material quality and durability. Fans and fan clutches, on the other hand, are assessed based on their ability to regulate airflow and impact fuel efficiency effectively. Radiators are compared by their cooling efficiency and size, with advancements focusing on lightweight materials. Thermostats are becoming increasingly sophisticated, with new models offering precise temperature control and integration with vehicular electronic systems. Water pumps are judged on their reliability and compatibility with various engine types, including hybrid and electric models.

Sales Channel: Growing popularity of Original Equipment Manufacturer for seamless integration

The aftermarket segment of automotive thermal management caters to the needs of vehicle owners seeking replacement parts, upgrades, or maintenance after the initial vehicle purchase. These components or systems can be needed due to wear and tear or because the vehicle owner wishes to enhance vehicle performance. In the aftermarket segment, there is a higher demand for cost-effective and compatible solutions that can extend the life of the vehicle. Customers opt for aftermarket parts to replace defective components, upgrade the existing thermal management system for better efficiency, or support new functionalities such as retrofitting advanced cooling systems in older vehicles. The Original Equipment Manufacturer (OEM) segment refers to thermal management systems and components installed in vehicles during manufacturing. These are usually custom-built for specific vehicle models, ensuring a perfect fit and optimal performance. Vehicle manufacturers prefer OEM thermal management systems due to their high reliability, integration with vehicle architecture, and adherence to stringent quality standards. This segment focuses on technological advancements that can be directly implemented into new vehicle models, facilitating enhancements in fuel efficiency, emission control, and overall vehicle performance. Comparing the Aftermarket and OEM segments in automotive thermal management reveals clear differences in integration complexity, customization, and lifecycle. OEM components are designed for seamless integration into specific vehicle models and offer superior performance from the outset. However, they attract a higher initial cost. The aftermarket, while potentially offering a more cost-effective and diverse range, can struggle to match the exacting specifications of OEM parts but provides greater flexibility and opportunities for upgrades and enhancements over the lifecycle of a vehicle.

Application: Increasing application of battery thermal management in automotive industry

With the advent of electric vehicles (EVs), battery thermal management has become paramount. It ensures that the battery operates within an ideal temperature range to maximize performance, longevity, and safety. Cabin thermal management focuses on passenger comfort by controlling the vehicle's internal temperature. Traditional internal combustion engine vehicles rely on engine cooling to prevent overheating. Exhaust gas recirculation (EGR) thermal management helps reduce NOx emissions by cooling and recirculating some of the exhaust gas back into the engine's combustion chamber. Thermal management for electric motors and power electronics is essential for maintaining performance, safety, and reliability. Transmission thermal management ensures that the gearbox operates efficiently by maintaining optimal temperatures. Waste heat recovery systems capture and reuse heat from the engine and exhaust to improve the vehicle's overall efficiency. The need-based preference for each thermal management application varies. Battery thermal management is crucial for EVs and hybrids, while engine cooling is more pertinent for combustion engine vehicles. Cabin thermal management remains a universal requirement for comfort. Exhaust gas recirculation and waste heat recuperation are more important from an emissions and efficiency standpoint and are gaining traction as environmental regulations tighten. Motor and power electronics thermal management is foundational for the growing electrification of components in all vehicle types. Transmission thermal management is often undervalued but is crucial for prolonging the life of transmission systems and optimizing vehicle performance.

Regional Insights

The Americas, primarily the United States and Canada, exhibit a healthy demand for automotive thermal management due to stringent emission norms and high consumer awareness regarding fuel-efficient systems. The U.S. market sets a strong trend for adopting hybrid and electric vehicles, which drives the need for sophisticated thermal management systems. Canada's automotive market, while smaller than the U.S., is equally focused on reducing emissions and integrating advanced thermal management solutions in vehicles. Electric vehicle adoption is rising, spurred by governmental initiatives and investments. South America's automotive thermal management market is developing steadily. Factors such as improving economic conditions, investments in automotive manufacturing, and rising consumer demand for vehicles are propelling market growth. EU countries prioritize environmental regulations and have spearheaded some of the most ambitious goals for emissions reductions globally. This has led to heightened demand for advanced thermal management technologies. Customers seek vehicles that meet these standards while providing comfort and efficiency. Countries, including Germany, France, and the UK are innovation hubs for thermal management technology, further accelerating regional market performance. The Middle East and African (MEA) regions show potential for growth in the automotive thermal management market. While the market is relatively small compared to other regions, factors such as increased vehicle sales, rising temperatures due to climate change, and growing awareness about vehicle efficiency are expected to boost the market. The Asia Pacific region, particularly China, Japan, and India, has emerged as a dynamic hub for the automotive thermal management market. These markets are driven by a massive consumer base, increasing automobile production, and a growing concern for vehicle efficiency and emissions. The Chinese market has seen significant investments in electric vehicle (EV) production and infrastructure, influencing the demand for advanced thermal management systems. In India, with increasing urbanization and economic growth, the demand for vehicles is on the rise. Consumer awareness about vehicle efficiency and emission norms is growing, influencing purchasing decisions and the adoption of advanced thermal management technologies.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Automotive Thermal Management Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive Thermal Management Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Automotive Thermal Management Market, highlighting leading vendors and their innovative profiles. These include Advanced Thermal Solutions, Inc., BorgWarner Inc., Dana Incorporated, Delta Electronics, Inc., Denso Corporation, Dober, Gentherm Incorporated, Hanon Systems, HELLA GmbH & Co. KGaA by Faurecia, Infineon Technologies AG, Kendrion NV, Koninklijke DSM N.V., MAHLE GmbH, Marelli Holdings Co., Ltd., Modine Manufacturing Company, Norma Group, Robert Bosch GmbH, Schaeffler AG, Solvay S.A., Thermal Management Solutions Group, TitanX Holding AB, Valeo Group, Voss Automotive, Ymer Technology AB, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Automotive Thermal Management Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Active Thermal Management
- Passive Thermal Management

Component
- Coolant Hoses
- Fans & Fan Clutches
- Radiators
- Thermostats
- Water Pumps

Vehicle Type
- Commercial Vehicles
- Electric Vehicles (EVs)
- Hybrid Vehicles
- Passenger Vehicles

Application
- Battery Thermal Management
- Cabin Thermal Management
- Engine Cooling
- Exhaust Gas Recirculation Thermal Management
- Motor & Power Electronics Thermal Management
- Transmission Thermal Management
- Waste Heat Recovery

Sales Channel
- Aftermarket
- Original Equipment Manufacturer

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Automotive Thermal Management Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive Thermal Management Market?

3. What are the technology trends and regulatory frameworks in the Automotive Thermal Management Market?

4. What is the market share of the leading vendors in the Automotive Thermal Management Market?

5. Which modes and strategic moves are suitable for entering the Automotive Thermal Management Market?

Product Code: MRR-742BD517BBA1

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing concerns about pollution caused by excessive vehicular emissions and rising fuel consumption
  - 5.1.1.2. Expanding production of automobiles and increasing ownership of vehicles across the world
  - 5.1.1.3. Adoption of automotive thermal management solutions in electric vehicles (EVs)
- 5.1.2. Restraints
  - 5.1.2.1. Complexities in designing the systems and difficulty of integrating the systems into the automobiles
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing advancements to improve the performance and efficiency of automotive thermal management
  - 5.1.3.2. Expansion of production facilities and installation of component manufacturing plants
- 5.1.4. Challenges
  - 5.1.4.1. Inefficiencies in operation and technical limitations
5.2. Market Segmentation Analysis
- 5.2.1. Type: Rising preference for active thermal management systems for ensuring optimal performance
- 5.2.2. Component: Increasing usage of radiators in automotive thermal management for protecting engine from overheating
- 5.2.3. Sales Channel: Growing popularity of Original Equipment Manufacturer for seamless integration
- 5.2.4. Application: Increasing application of battery thermal management in automotive industry
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Automotive Thermal Management Market, by Type

6.1. Introduction
6.2. Active Thermal Management
6.3. Passive Thermal Management

7. Automotive Thermal Management Market, by Component

7.1. Introduction
7.2. Coolant Hoses
7.3. Fans & Fan Clutches
7.4. Radiators
7.5. Thermostats
7.6. Water Pumps

8. Automotive Thermal Management Market, by Vehicle Type

8.1. Introduction
8.2. Commercial Vehicles
8.3. Electric Vehicles (EVs)
8.4. Hybrid Vehicles
8.5. Passenger Vehicles

9. Automotive Thermal Management Market, by Application

9.1. Introduction
9.2. Battery Thermal Management
9.3. Cabin Thermal Management
9.4. Engine Cooling
9.5. Exhaust Gas Recirculation Thermal Management
9.6. Motor & Power Electronics Thermal Management
9.7. Transmission Thermal Management
9.8. Waste Heat Recovery

10. Automotive Thermal Management Market, by Sales Channel

10.1. Introduction
10.2. Aftermarket
10.3. Original Equipment Manufacturer

11. Americas Automotive Thermal Management Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Automotive Thermal Management Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Automotive Thermal Management Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. TI Fluid Systems Announces Collaboration with Sanden to Accelerate Next-Generation Thermal Refrigerant Modules
- 14.3.2. Marelli Presents New Smart Actuators for Transmission and Thermal Management in Electric Vehicles
- 14.3.3. Delta to Acquire TB&C, a Provider of Automotive High-voltage Hybrid Components, to Strengthen its EV Business Portfolio
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio