Electric
Vehicle Thermal Management System Market Overview:
The global 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
electric vehicle thermal management system market is primarily driven by the
growing demand for electric vehicles, according to the report.
The
growing demand for electric vehicles is the primary driver for the global
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.
Electric Vehicle Thermal Management System
Market 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
report provides readers with a complete overview of the global 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 electric vehicle thermal management system market are also assessed in
the report. The impact of the COVID-19 pandemic on the global electric vehicle
thermal management system market is also assessed in the report.
Get Free Sample Report of Electric Vehicle
Thermal Management System Market Demands
The
following are some of the key players in the global Electric Vehicle Thermal
Management System Market Demands:
·
Denso Corporation
·
Valeo
·
Hanon Systems
·
LG Chem
·
Robert Bosch GmbH
·
BorgWarner
·
Mahle GmbH
·
Modine Manufacturing
Company
·
Gentherm
·
VOSS Automotive GmbH
·
Cummins Inc.
·
Huayu Automotive
Systems
Regional
Analysis:
The
global 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 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.
These
companies offer a wide range of EV thermal management systems products and
solutions, including:
·
Air conditioning
systems
·
Battery cooling
systems
·
Power electronics
cooling systems
·
Cabin heating systems
·
Integrated thermal
management systems
These
companies are also investing heavily in research and development to develop new
and more efficient EV thermal management systems.
In
addition to the major players listed above, there are a number of smaller
companies and startups that are also developing and producing EV thermal
management systems. These companies are often focused on developing innovative
new technologies or targeting specific niche markets.
The Electric
Vehicle Thermal Management System Market Demands is expected to grow
significantly in the coming years, driven by the increasing demand for electric
vehicles. The key players in this market are well-positioned to benefit from
this growth, thanks to their strong product portfolios, global reach, and commitment
to innovation.
Segmentation:
The
global 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
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 electric vehicle thermal management system market is segmented into
motor, battery, and cabin area.
·
By technology, the
global 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 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 electric vehicle thermal management system market is segmented into
battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in
hybrid electric vehicles (PHEV).
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