The global automotive thermal management system market is expected to grow at a CAGR of 7.18% during the period 2017-2021.
The report, Global Automotive Thermal Management System Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
According to the report, one driver in the market is growing adoption of integrated TMS for vehicle components. TMS suppliers and OEMs are following the trend of integrating two or more systems to reduce the weight and size, thus involving less energy consumption. In EVs, hybrid vehicles, or ICE vehicles with the 48V/12V start-stop system, OEMs are integrating power electronics components into the same module such as a belt starter generator, electric drive (motor, generator, or inverter), and inverter-converter modules. Hence, the integration and sharing of a common TMS for battery and other electric drive components are gaining prominence.