"Market Intelligence for High-Geared Performance"
The Automotive thermal system in an automobile is utilised to manages the temperature of major components of the vehicle through alternative engine block monitoring temperatures and reduced temperature component fluctuations. They provide better fuel economy and it is also used to provide several comforts inside the cabin such as front and rear A/C, steering heating, seat heating etc. These systems reuse the waste heat and reduces the overall CO2 emissions in an automobile.
The strict regulation on emissions, increased demand of front and rear A/C, heated steering and implementation of turbochargers in commercial vehicles are expected to drive the market growth. Also, the rapid demand for smart thermal management in automobiles and the implementation of thermal sensors in passenger vehicles are expected to boost the market growth. However, the high price of thermal system technology, variation in emission in different countries causes a lack of standardization which is expected to hamper the growth of the market
Key Market Driver -
the increased strict regulation on emissions, increased demand of A/C in the front as well as rear seats and increased sales of commercial vehicles are expected to drive the market growth
Key Market Restraint -
the high price of thermal system technology, variation in emission in different countries causes lack of standardization which is expected to hamper the growth of the market.
The global automotive thermal systems market is segmented by component, by vehicle type, by application and by geography. Based on component the market is further sub-segmented into a compressor, HVAC, powertrain cooling and fluid transport. Among these, the compressor segment is expected to account for the largest market share in the year 2020 and it is expected to continue its dominance over the forecast period. The increased adoption of compressors in the A/C systems to absorb the heated air inside the cabin of the automobile is one of the major factors driving the growth of the market.
Based on vehicle type the market is segmented into passenger cars and commercial vehicles. The passenger vehicles segment accounted for the largest market share and it is expected to dominate the market during the forecast period with a steady CAGR. Factors such as increased demand for heated/ ventilated seats, rear and front A/C and heated steering in the passenger vehicles with the increase in sales of passenger vehicles in the APAC region are expected to drive the market growth.
Based on application the market is segmented into the front and rear A/C, Engine and transmission, seat, steering, battery, motor, power electronics and waste heat recovery. The waste heat recovery segment accounted for the largest market share in 2020 and it is expected to grow with a rapid CAGR. Factors such as increased sales of commercial vehicles and implementation of Exhaust gas recirculation (EGR) and turbochargers as standard fitments and owing to the increased emission norms, waste heat recovery technology is implemented in gasoline vehicles, these are some of the major factors driving the growth of the market.
Major players operating in the global automotive thermal systems market include Denso Corporation, Hanon Systems, MAHLE, BorgWarner Inc., Valeo, Grayson Thermal Systems and Gentherm Inc. among others.
Geographically, the global automotive thermal systems market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific held the largest share of the market in 2020 and it is projected to dominate the market in the coming years with the highest CAGR. Factors such as increased sales of passenger vehicles, increase in per capita income, and several cost advantages due to low labour costs are expected to drive the market growth.
North America is estimated to grow steadily in the coming years. The factors such as increased demand for commercial vehicles and increase government norms towards emissions are expected to drive the market growth. Europe is expected to account for a considerable share in the market and it is expected to grow rapidly over the forecast period the factors such as the presence of major market players in the market and increased adoption of luxury passenger vehicles are expected to drive the market growth.
To gain extensive insights into the market, Request for Customization
By Vehicle Type
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry