NEW YORK, Nov. 9, 2016 /PRNewswire/ -- The global engine thermal management market is estimated to be USD 8.97 billion in 2016, and is projected to grow to USD 12.42 billion by 2021, at a CAGR of 6.73%. The engine thermal management market is projected to witness substantial growth in Europe and North America in the medium term (5-10 years). Leading European OEMs and Tier-1 companies are pioneers in engine thermal management technology, owing to the stringent emission regulations in the region. Europe is estimated to hold the largest share in the engine thermal management market. Major players operating in the engine thermal management industry include Schaeffler Technologies AG ( Germany), Mahle GmbH ( Germany), BorgWarner Inc. (U.S.), Valeo SA ( France), and Sogefi S.p.A ( Italy). These manufacturers provide a broad range of engine thermal management products and components. The engine thermal management system consists of an electric water pump, electric fan, thermostat, radiator, and thermal management module. The engine thermal management system includes components such as a radiator, fan, louvers, thermostat, engine control unit, water pump and other minor components. Electrically driven water pumps, electrically driven fans, and viscous coupling are some of the advancements in thermal management system technology. The report covers thermostats that use melting wax, which expands and moves the valve. This happens over a prescribed temperature range.