Global Power Electronics Thermal System Market – Industry Trends and Forecast to 2030

Global Power Electronics Thermal System Market, By ICE Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Truck, Bus), Technology (Active Transmission Warm Up, EGR, Engine Thermal Mass Reduction, Reduced HVAC System Loading, Others), Electric Vehicle Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), 48v Mild Hybrid Vehicle), Component (Air Filter, Condenser, Compressor, Water Pump, Motor, Heat Exchanger, Heater Control Unit, Thermoelectric Generator, Electric Compressor, Electric Water Pump, Electric Motor) – Industry Trends and Forecast to 2030.

Power Electronics Thermal System Market Analysis and Size

All electronic equipment and circuitry generate excessive heat, necessitating thermal management systems to improve reliability and prevent premature physical breakdowns. Thermal management optimization remains highly beneficial to reliable and efficient equipment across a wide range of end-use industries, including consumer electronics, automotive, telecommunications, and others. The growing demand for seamless control of equipment temperature within an optimal range is a key factor driving the thermal management systems market growth.

Data Bridge Market Research analyses that the power electronics thermal system market was valued at USD 33.57 billion in 2022 and is expected to reach the value of USD 40.27 billion by 2030, at a CAGR of 2.30% during the forecast period of 2023-2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Power Electronics Thermal System Market Scope and Segmentation

Market Definition

The automotive thermal system in a car is used to control the temperature of the vehicle's primary components by monitoring alternate engine block temperatures and reducing temperature component swings. They improve fuel economy while providing interior conveniences such as front and rear air conditioning, steering heating, seat heating, etc. These devices reuse waste heat, reducing overall CO2 emissions from vehicles. The automotive thermal system manages the temperature of critical vehicle components by using reduced temperature component fluctuations and alternative engine block monitoring temperatures.

Global Power Electronics Thermal System Market Dynamics

Drivers

• Smart thermal management in automobiles

The market is expected to grow as a result of strict emission regulations, increased demand for front and rear air conditioning, heated steering, and the use of turbochargers in commercial vehicles. Furthermore, the market is expected to grow as a result of the growing demand for smart thermal management in automobiles and the incorporation of thermal sensors in passenger vehicles. As the global vehicle fleet has grown, controlling GHG emissions from automobiles has become a significant concern. Regulatory bodies such as the European Commission (EC) and the United States Environmental Protection Agency (US EPA) have set gasoline sulphur content limits and fuel economy standards to combat the exponential effect of emissions.

• High penetration of luxury and advanced vehicles

The power electronics thermal system market is being driven by increased demand for luxury automobiles with advanced features and comfort, as well as the implementation of stringent pollution regulations and the incorporation of smart thermal management technologies into vehicles. Manufacturers are expected to develop smart solutions that are integrated into new equipment, making it more responsive and efficient to customer needs as consumer preferences change. Over the forecast period, these smart solutions are expected to replace inactive and inefficient equipment, resulting in further market growth.

Opportunities

• Mobility solutions

Rising demand for mobility solutions, combined with increasing demand for electric vehicles, will fuel various opportunities to propel the power electronics thermal system market during the forecast period.

Restraints

• High cost of technology

High costs associated with system technology usage and a lack of standardization are acting as market restraints for power electronics thermal systems during the forecasted period.

This power electronics thermal system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the power electronics thermal system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Power Electronics Thermal System Market

The emergence of the novel coronavirus pandemic has had a significant impact on global automobile production. While automobile production is expected to fall in the coming months, demand for automotive Power Electronics Thermal Systems is expected to remain weak. Assembly lines in various fast-moving manufacturing industries, including the automotive sector, are being impacted, and companies in the automotive Power Electronics Thermal System market are expected to target those that have incorporated agile manufacturing processes and supply chains to mitigate losses. Product development and diversification and value addition are expected to remain critical for businesses in the coming months.

Global Power Electronics Thermal System Market Scope

The power electronics thermal system market is segmented on the basis of ICE vehicle type, technology, electric vehicle type, and component. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Active Transmission Warm Up
• EGR
• Engine Thermal Mass Reduction
• Reduced HVAC System Loading
• Others

Component

• Air Filter
• Condenser
• Compressor
• Water Pump
• Motor
• Heat Exchanger
• Heater Control Unit
• Thermoelectric Generator
• Electric Compressor
• Electric Water Pump
• Electric Motor

ICE Vehicle type

• Passenger Car
• Light Commercial Vehicle (LCV)
• Truck
• Bus

Electric vehicle type

• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Fuel Cell Electric Vehicle (FCEV)
• 48v Mild Hybrid Vehicle

Power Electronics Thermal System Market Regional Analysis/Insights

The power electronics thermal system market is analyzed and market size insights and trends are provided by country of ICE vehicle type, technology, electric vehicle type, and component as referenced above.

The countries covered in the power electronics thermal system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia Pacific was the largest power electronics thermal system market. Construction vehicle demand has increased as a result of developments in the infrastructure sector. Moreover, rising disposable income in Asia-Pacific has fuelled demand for automobiles, which is expected to drive demand for thermal systems. Asia-Pacific has been a major contributor to the growth of the automotive thermal system market. Japan dominates the premium car segment in this region. Furthermore, the growing middle class in India and China, as well as the automotive industry's green revolution, are driving the Asia-Pacific power electronics thermal system market.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Power Electronics Thermal System Market Share Analysis

The power electronics thermal system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to power electronics thermal system market.

Some of the major players operating in the power electronics thermal system market are:

• DENSO CORPORATION (Japan)
• MODINE MANUFACTURING COMPANY (U.S.)
• MAHLE GmbH (Germany)
• Valeo (France)
• GENTHERM. (U.S.)
• Hanon Systems (South Korea)
• DuPont (U.S.)
• Continental AG (Germany)
• Renesas Electronics Corporation (Japan)
• Ymer Technology (Sweden)
• NORMA Group (Germany)
• BorgWarner Inc. (U.S.)
• Robert Bosch GmbH (Germany)
• Dana Limited (U.S.)
• VOSS Automotive GmbH (Germany)

Research Methodology: Global Power Electronics Thermal System Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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