Business

Commercial Vehicle Thermal Management System Market Expected to Secure Notable Revenue Share during 2018-2026

Thermal management refers to management of temperature as well as heating and cooling of the interior of vehicle. Accordingly, a thermal management system comprises of an engine-cooling and air-conditioning systems. Fuel consumption and emission can be reduced by controlling the temperature of the combustion engine. Owing to heat, at times, components in a commercial vehicle can fail leading to serious durability and safety issues.

In commercial vehicle thermal management systems, air conditioners form an important part of HVAC systems. Mandatory government regulations to install an air conditioning system in commercial vehicles are directly facilitating the growth of commercial vehicle thermal management systems market.

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Furthermore, vehicle manufacturers have been trying to develop intelligent thermal management system with components with increased heat resistance and better modeling to allow proper ventilation. Development of electronic grille shutters that are designed to boost fuel efficiency is the other important factor which is driving the growth of this market. However, plastic components in vehicles are used increasingly to save on cost and weight but are more sensitive to temperatures which can act as a limiting factor. In spite of this, increased stringency in emission regulation to upsurge the fuel economy is expected to enhance the commercial vehicle thermal management system market even in the developing economies where the adoption of these systems is currently low.

Commercial vehicle thermal management system market can be segmented on the basis of type, application, and region. On the basis of type, the commercial vehicle thermal management system market can be segmented into radiator, electric fan, electric water pump, thermostat, thermal management model, and others.

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On the basis of application, the commercial vehicle thermal management system market can be segmented into light and heavy commercial vehicle. On the basis of region, the commercial vehicle thermal management system market can be segmented into Asia Pacific, North America, Europe, Middle East and Africa, and South America. Amongst all, Europe is expected to be the most lucrative commercial vehicle thermal management system market owing to stringent government regarding emission and enhancing the thermal management system in the region.  In Europe, Germany is anticipated to drive the growth.

Key players operating in commercial vehicle thermal management system market are Cooper Standard Automotive Inc., Bosch Limited, Denso Corp., Mahle Group, Johnson Electrics Inc, Delphi Thermal Systems, Kendrion Automotive, Dana Incorporated, Tata AutoComp Systems Ltd, BorgWarner Inc., Eberspacher SAS, TitanX Engine Cooling Inc., and Valeo SA among others.

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