Global Commercial Vehicle Thermal Management Systems Market 2017-2021

Overview of the global commercial vehicle thermal management systems market

According to Technavio's market research analysis, the government mandate for fixing air conditioners in commercial vehicles will be one of the major factors that will have a positive impact on the global commercial vehicle thermal management systems market during the forecast period. Our market research analysts predict that this market will register a revenue of about USD 10 billion by 2021. Air conditioners are an important part of HVAC systems in commercial vehicle thermal management systems. This increased fitment of air conditioning units in commercial vehicles will increase the value for thermal management systems used in vehicles during the forecast period. The need for air conditioning units in commercial vehicles is mainly due to the long trips taken up on regular basis by the HCV drivers to make their livelihood. Long hours of driving will raise their fatigue levels and often numbs the driver reflexes increasing the chances of accidents. To counter this, the government of India is looking at undertaking measures that raise driver comfort levels and avoid increased fatigue.

The development of new heat flux sensors is one of the key trends that will gain traction in the commercial vehicle thermal management systems market.  Heat flux is detected by sensors in the vehicle powertrain during different operations and engine loads. This information enables OEMs to recognize the efficiency of their thermal management systems. Heat flux sensors also detect and convert changes in a physical quantity into electrical impulses. They are also increasingly used by testing agencies, such as NEDC, for evaluating the actual performance of thermal management system in vehicles.

Competitive landscape and key vendors  

The commercial vehicle thermal management systems market consists of many vendors. The market is characterized by well-diversified global and regional vendors. However, as global players are developing technologically improved systems, regional vendors are finding it increasingly difficult to sustain the competition in the market, particularly on factors such as quality, technology, and product features.

The leading vendors in the market are: 

• BorgWarner
• Bosch
• DENSO
• Johnson Electric
• Delphi Thermal (part of the MAHLE Group)
• Valeo

The other prominent vendors in the market are Cooper Standard, Dana Incorporated, Eberspächer, HELLA, Kendrion Automotive, MAHLE, TATA AUTOCOMP SYSTEMS LTD, and TitanX Engine Cooling.

Segmentation by application and analysis of the commercial vehicle thermal management systems market

• LCV
• HCV

During 2016, the LCV segment accounted for the major shares of the commercial vehicle thermal management systems market. Factors such as the increasing usage of minivans and mini-pickup vehicles for business purposes such as intercity transportation and mobile canteen outlets will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the commercial vehicle thermal management systems market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the commercial vehicle thermal management systems market throughout the forecast period. Canada, Brazil, Mexico, and the US are the key markets for commercial vehicle thermal management systems in the Americas. The rising investments in technologies that improve the fuel efficiency of vehicles will drive the demand for commercial vehicle thermal management systems in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global commercial vehicle thermal management systems market?
• What are the key market trends impacting the growth of the global commercial vehicle thermal management systems market?
• What are the challenges to market growth?
• Who are the key vendors in the global commercial vehicle thermal management systems market?
• What are the market opportunities and threats faced by the vendors in the global commercial vehicle thermal management systems market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global commercial vehicle thermal management systems market?

Our market research methodology for the commercial vehicle thermal management systems market:

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