Automotive Thermal Management Market: Key Highlights
Automotive Thermal Management Market: Key Market Dynamics
Automotive Thermal Management Market: Regional Overview
The growth in the Asia-Pacific region is attributed to high production and sales of automobiles and the adoption of electric vehicles, that will penetrate the high usage of the automotive thermal management. Furthermore, stringent regulations in lowering CO2 emission and purchasing power of consumers will drive the market growth. A prominent country like China accounts for the largest automobile share in this region which is expected to boost the growth for the automotive thermal management market.
In Europe, the increasing vehicle production, customers’ preference towards premium & electric vehicles and technological advancements have resulted in propelling the automotive thermal management market growth. Moreover, the European Union imposed standards for vehicle emissions will boost the market growth. Furthermore, Germany, UK, and France hold the major share for automobile production which indirectly propels the automotive thermal management market growth in this region.
Automotive Thermal Management Market: Key Players Overview
MAHLE GmbH is a German Based company that manufactures automotive parts. The company offers thermal management services, piston systems, small engine components, valve train, cylinder components, air management, liquid management systems, special engines, and others. In August 2018, the company announced its plan to acquire Behr Hella Service GmbH, which is its joint venture with Hella. The company plans to distribute latter’s products, including thermal management through its Aftermarket organization. Additionally, MAHLE announced intends to manage the spare parts business for thermal management by January 2020.
Dana Limited is a US-based company that manufactures and develops automotive components. The company supplies driveshafts, transmissions, thermal, electrodynamic, sealing and others. In August 2019, the company acquired Quebec-based Nordresa Motors Inc. company which focuses on designing and integrating electric vehicle systems.
This acquisition will strengthen Dana’s electrification capabilities by combining the battery management system, electric powertrain controls, and integration expertise.
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