The growing emphasis on lowering automobile emissions is one of the major factors driving the Automotive Thermal Management Market. As environmental concerns grow, thermal management systems are gaining popularity due to their capacity to reduce vehicle emissions. Inadequate interior climate control can raise fuel consumption and emissions significantly while also posing safety issues due to fogging and windscreen damage. By helping to maintain the internal combustion engine's temperature consistently, the technique improves how well cars use fuel. Thus, as thermal management receives greater attention in order to lower vehicle emissions, there is a rise in Automotive Thermal Management Market Demand for these systems globally.
As global vehicle manufacturing and sales have expanded, regional governments all over the world have focused on lowering GHG emissions. The Euro VI standard has already been established by the European Union, while the China VI standard has been adopted by China in an effort to promote zero emissions. Due to the increasingly stringent emission rules, international automobile OEMs are currently focusing their efforts on developing cutting-edge engines and exhaust systems for ICE vehicles.
Thermal management systems for batteries are frequently used to monitor overheating and poor performance. The battery life is anticipated to be extended via an efficient thermal management system for car batteries. This technique also aids in extending the battery's overall life. To further ensure the battery has the proper working environment, automotive battery thermal management solutions must be used. Additionally improving battery durability for a longer battery life, this management system. Additionally, the Automotive Thermal Management Market is anticipated to grow as a result of these advantages from the services.
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The worldwide Automotive Battery Thermal Management System Market is anticipated to reach around USD 5.4 billion by 2026, according to a new research published by Polaris Market Research.
The passenger car dominated the global Automotive Battery Thermal Management System market in 2017.
In 2017, Asia-Pacific accounted for the majority share in the global automotive battery thermal management system market.
The significant increase in demand for electric vehicles, and rising need to improve battery performance and efficiency of electric vehicles boosts the demand for automotive battery thermal management system.
The awareness regarding use of electric vehicles has increased significantly, especially in the Asia-Pacific region.
The increasing awareness among consumers regarding use of eco-friendly vehicles coupled with rising adoption of advanced Lithium-Ion batteries fuels the growth of the automotive battery thermal management system market.
