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Automotive Thermostat Market Size, Share & Industry Analysis, By Type ( Electronic , Mechanical, Programmable ), By Component Type ( Single Valve, Dual Valve ), By Vehicle Type ( Passenger Cars, Commercial Vehicles ) and regional Forecast, 2024-2032

Region :Global | Report ID: FBI104102 | Status : Ongoing

 

KEY MARKET INSIGHTS

The automotive thermostat is an important part of vehicle’s internal combustion engine. It is a small device located between the radiator and the engine. When the temperature reaches the predetermined level, the valve in the thermostat is released to let the engine coolant to flow through the radiator and cylinder block. This flow is essential for maintaining the optimal functioning temperature to improve fuel efficiency, enhance drivability and protect the engine. The coolant flow decreases as the engine cools down and increases when the engine temperature rises. The thermostat was initially installed in vehicles to speed up the warm-up of the engine and reduce the wear and tear of the cylinder ring. Currently, the role of these thermostats have become more significant as they help to reduce the harmful emissions and improve the efficiency of the engine combustion. Thus, the electronic control unit or ECU in the engine controls the functioning of the thermostat to ensure that the temperature of the engine is accurately adjusted according to the load of the engine. The automotive thermostat market is gaining high traction owing to the rapid development of the automotive industry and the upgradation in the policies thus providing impetus for the development of the automotive thermostat industry.


Market Segmentation:


Globally, the automotive thermostat market is segmented by type, by component type, by vehicle type, and by geographic coverage. Based on type, the market is further segmented into electronic, mechanical, and programmable. The electronic thermostat segment holds the major share in the global market. An electronic thermostat offers broader and faster operation as compared to the traditional thermostats. The electrically assisted thermostats integrate an electric heater inside the sensing component. This heater is controlled by the electronic control unit in the vehicle which receives information of the load conditions and speed of the engine. The valve type is further segmented into single valve and dual valve. The dual valve accounts for the largest share in the global market. A dual valve thermostat is used in the vehicle's cooling system. The movement of the piston initiates the gradual opening of the pre-valve to allow the coolant to flow and stabilize the pressure to open the main valve. The primary valve and the main valve are partially opened and closed by means of a spring located between them. The vehicle type is further segmented into passenger cars and commercial vehicles. The passenger cars segment holds the major share in the global market in terms of volume and revenue. This dominance is attributed to the increasing level of urbanization and the improvement of road infrastructure, as well as the increasing requirements for personal mobility and the strengthening of the middle class in emerging countries.

Key Market Driver -

Fast and precise maneuverability of mowers is expected to drive the growth of the market in the forecast period.

Key Market Restraint -

igh cost of equipment as well as maintenance may hinder the growth of the market during the forecast period.


Key Players:


Major players operating in the global automotive thermostat market include BorgWarner Inc., Magal Engineering Ltd., Mahle GmbH, Ruian Wantai auto electric appliance Co. Ltd., HELLA, Honeywell International Inc., Nippon Thermostat Co. Ltd., Kirpart, Ningbo Xingci Thermal Electric Appliances Co. Ltd., BG Automotive, Dongfeng-fuji-thomson thermostat co. ltd, Stant Manufacturing, Inc., Fishman Thermo Technologies Ltd., Vernet, and Tama Enterprises Co., Ltd. among others.

Key Insights 



  • New Advancements in Automotive Thermostat

  • Number of Products, Key Countries, 2019

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the automotive thermostat market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is the leading region in the global automotive thermostat market as compared to other regions bolstered by the growing automotive production in countries such as China, India, and Japan as well as the rapid growth in the demand for the mid-segment vehicles. Also, the development of technological advancement in the automotive industry coupled with the increasing job opportunities in the emerging technologies. These factors are estimated to further boost the demand for automotive thermostat in this region. Europe will help expand the scale of the global automotive thermostat market by adopting automotive thermostats in different fields. Overall, during the forecast period, the outlook for the automotive thermostat market is optimistic.

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Segmentation


























ATTRIBUTES    

DETAILS        

By Type



  • Electronic

  • Mechanical

  • Programmable



By Component Type



  • Single Valve

  • Dual Valve



By Vehicle Type



  • Passenger Cars

  • Commercial Vehicles



By Geography



  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



 





  • Ongoing
  • 2023
  • 2019-2022

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