Europe Electric Vehicle Thermal Management System Market Overview:
The global Europe
Electric Vehicle Thermal Management System Market is expected to exhibit a
strong 9% CAGR over the forecast period from 2023 to 2032, according to the
latest research report from Market Research Future (MRFR). The global Europe
Electric Vehicle Thermal Management System Market is primarily driven by the
growing demand for electric vehicles, according to the report. The report
provides readers with a complete overview of the global Europe Electric Vehicle
Thermal Management System Market, including an assessment of the major drivers
and restraints affecting the global market. The major players operating in the
global Europe Electric Vehicle Thermal Management System Market are also
assessed in the report. The impact of the COVID-19 pandemic on the global Europe
Electric Vehicle Thermal Management System Market is also assessed in the
report.
Electric vehicle
thermal management systems perform various tasks in electric vehicles,
including heat transfer and waste heat recovery. Thermal management systems
monitor and regulate the temperature in the cabin, batteries, and HVAC components,
among others. These systems thus provide an enhanced user experience for
drivers by making the cabin more comfortable, with regard to temperature. The
excess heat from batteries is also redirected by electric vehicle thermal
management systems, making the performance smoother and more effective. In
electric vehicles, the waste heat recovery systems also play an important role,
as they can enhance the range of the vehicle considerably by diverting the heat
towards the batteries and storing it as electrical energy.
The growing
demand for electric vehicles is the primary driver for the global Europe
Electric Vehicle Thermal Management System Market. Electric vehicles have
become ever more popular among consumers all over the world due to the fact
that they present no threat of toxic vehicular emissions. Since they present no
risk to the environment, electric vehicles have become the vanguard of the
environmental movement sweeping the world. Several countries, including leading
global economic heavyweights such as the U.S. and China, have favored electric
vehicles over conventional vehicles in recent years. The strong government
support provided to electric vehicles in these and other countries has led to a
growing demand for electric vehicles all over the world. This is likely to
remain the major driver for the global Europe Electric Vehicle Thermal
Management System Market over the forecast period.
Get a free sample report of
Europe Electric Vehicle Thermal
Management System Market
Competitive Leaderboard:
Leading players
in the global Europe Electric Vehicle Thermal Management System Market include
Hanon Systems, Gentherm, Valeo, MAHLE GmbH, Denso Corporation, Modine
Manufacturing Company, VOSS Automotive GmbH, Dana Ltd., Robert Bosch GmbH, and
BorgWarner Inc.
Segmentation:
The global Europe
Electric Vehicle Thermal Management System Market is segmented on the basis of
system, component type, technology, application, vehicle type, and region.
·
By system, the global Europe
Electric Vehicle Thermal Management System Market is segmented into heating,
ventilation, and air conditioning (HVAC), powertrain cooling, fluid transport,
and others.
·
By component type, the global Europe
Electric Vehicle Thermal Management System Market is segmented into motor,
battery, and cabin area.
·
By technology, the global Europe
Electric Vehicle Thermal Management System Market is segmented into active
transmission warmup, exhaust gas recirculation, reduced HVAC system loading,
and others.
·
By application, the global Europe
Electric Vehicle Thermal Management System Market is segmented into engine
cooling, air conditioning, heated steering, waste heat recovery, transmission
system, heated/ventilated seats, and others.
·
By vehicle type, the global Europe
Electric Vehicle Thermal Management System Market is segmented into battery
electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid
electric vehicles (PHEV).
Regional Analysis:
The global Europe
Electric Vehicle Thermal Management System Market is dominated by Asia Pacific
as of 2018. The Asia Pacific market is majorly dominated by China, which has
enacted several policies supporting the growth of the electric vehicles market
in recent years. The high volume of the China market is likely to remain a
major driver for the global Europe Electric Vehicle Thermal Management System
Market over the forecast period. India is also likely to support the growth of
the electric vehicle market over the coming years, leading to growing demand
for electric vehicle thermal management systems in Asia Pacific. Europe and
North America are also important regional markets.
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