Electric Vehicle Thermal Management System Market 2020 Growth Driven by Rising Demand for Electric Vehicles

Market Research Future (MRFR) has published a research report about the Global Electric Vehicle Thermal Management System Market that observes a huge surge for this market.

The global market is expected to exhibit a strong 9% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The impact of the COVID-19 pandemic on the global electric vehicle thermal management system market is also assessed in 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. 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 electric vehicle thermal management system market over the forecast period. 

Competitive Leader board:

Leading players in the global 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. 

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Segmentation:              

·       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). 

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.

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Major Highlights of TOC Covers:

1.      Executive Summary

2.      Key Business Trends

3.      Regional Trends and Growth

4.      Product Trends

5.      End-use Trends

6.      Definition and Forecast Parameters

7.      Electric vehicle thermal management system Market Segmentation

8.      Electric vehicle thermal management system Market Landscape

9.      Vendor Matrix

10.  Company Profiles

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