The need for electrical and electronic components in both passenger automobiles and commercial vehicles has expanded tremendously as automation and powertrain electrification progress. A modern car may have up to 100 ECUs, which highlights the critical need for thermal management systems to reduce the heat generated by these electronic components. The necessity for battery management systems, which include temperature management systems, is further fueled by the growing number of batteries in automobiles. Thermal management systems are now becoming more common in both commercial vehicles and passenger automobile variants. Due to the increasing advancements in in-vehicle electronics and electrification systems, which will increase the need for an efficient power supply, the acquisition of the system may increase over the anticipated length. The market for thermal management systems may grow in the future as a result of rising electric car demand in several nations throughout the world and technological developments. It is anticipated that new orders, agreements, and product approvals from a number of international automobile firms would open up opportunities for the manufacturers of thermal management systems worldwide.
According to Coherent Market Insights, The market for Automotive Thermal Management was estimated at USD 84.22 billion in 2021, and from 2022 to 2030, it is expected to increase at a compound annual growth rate (CAGR) of 5.6%.
Leading Companies in the Automotive Thermal Management Industry:
1. Robert Bosch GmbH
The company was founded in 1886 and has its main office in Gerlingen, Germany. The company provides business process outsourcing, drive and control technology, energy, and building solutions in addition to industrial, household, and automotive spare parts. Bosch announced in April 2022 that it has purchased Dresden-based Arioso Systems, a manufacturer of MEMS micro speakers. Bosch announced its acquisition of the autonomous driving firm Five.ai in April 2022.
2. Schaeffler Technologies AG & Co. KG.
The business was started in 2003 and is based in Herzogenaurach, Germany. The company sells clutch systems, torsion dampers, roll bearings, plain bearings, linear goods, calculation tools, and maintenance items. Schaeffler added cutting-edge thermal management modules to its aftermarket lineup in 2022. The new Schaeffler Automotive Aftermarket headquarters in Frankfurt will open in July 2022.
3. Hanon Systems
The firm was established in 1986 and is located in Daejeon, South Korea. Many different pieces of vehicle air control equipment are produced by Hanon Systems. Air conditioners, heaters, cooling modules, compressors, radiators, fans, evaporators, and condensers are some of the company's goods. Hanon Systems uses original equipment manufacturing (OEM) to distribute its goods. Hanon Systems increased thermal management production in March 2022 to support the expansion of electric vehicles.
4. Dana Incorporated
The company was founded in 1904 and is based in Maumee, Ohio, U.S. The automotive, heavy truck, off-highway, engine, and industrial markets are all served by the components and systems that Dana Incorporated designs, manufactures, and distributes globally. Additionally, in a few markets, the company offers leasing options.Dana purchased Plymouth, Michigan-based Pi Innovo in March 2021. At its Advanced Manufacturing Centre in Maumee, Ohio, Dana began using 3D printers in 2020.
5. Gentherm Incorporated
The business was started in 1991 and has its headquarters in Michigan, U.S. Gentherm Incorporated creates, develops, and produces heating, cooling, and ventilation systems for a variety of international markets. For the automotive markets, the company provides electronics, wheels, cables, heated and cooled seating, etc.
6. BorgWarner Inc.
The company was started in 1928 and is based in Michigan, United States. The company BorgWarner, Inc. provides designed systems and parts, primarily for use in automobile powertrain applications. BorgWarner Thermal Systems will soon have a new high-voltage coolant heater (HVCH) approved after receiving a grant in November 2021 to expand its electric automobile company.
7. MAHLE GmbH
The company was started in 1920 and is located in Stuttgart, Germany. System and engine-related accessories are produced by Mahle GmbH. Piston systems, cylinder components, valve train, air management, liquid management systems, motorsports, unique engines, and small engine parts are all provided by the company.
Definition: A key function in electromobility is likewise mirrored by automotive thermal management. Every component is guaranteed to operate in the lowest temperature range while still maintaining a proper temperature inside the car thanks to automatic adaptability to the environment.
