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Global Thermal System Market for Automotive is Projected to Reach USD 64.6 Billion by 2027 from an Estimated USD 49.3 Billion in 2019 - ResearchAndMarkets.com

February 11, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Feb 11, 2020--

The “Thermal System Market for Automotive By Application (Front & Rear AC, Engine & Transmission, Seat, Steering, Battery, Motor, Power Electronics, Waste Heat Recovery), Technology, Electric & ICE Components, Vehicle Type and Region - Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The thermal system market for automotive is projected to reach USD 64.6 billion by 2027 from an estimated USD 49.3 billion in 2019 at a CAGR of 3.4% during the forecast period.

A decrease in emissions limits, demand for electric vehicles and advancement in comfort features is the significant factor for the growth of the thermal system market for automotive globally

All major players such as Denso, Hanon, Valeo, MAHLE and BorgWarner are working on advanced thermal system solution by showcasing their developments and business strategies in the thermal system market. There are various factors that are propelling the thermal system market for automotive. The major factor being the emission norms across all regions globally. For instance, the introduction of Euro VI, China VI, PROCONVE P8 has driven the electric vehicle market by pushing automakers to come up with advanced electrified powertrain technologies. Also, demand for comfort features such as heated/ventilated seats and heated steering along with rear air conditioning is boosting the market for thermal system. However, the high cost of advanced thermal systems along with lack of standardization is expected to hinder market growth.

Passenger car segment is expected to remain the largest market in-vehicle type

The high production of passenger cars globally is making the segment largest market for thermal system. Factors such as increased population and rising purchasing power have increased the demand for passenger cars globally. Additionally, increase in penetration of advanced comfort features, stringent government regulations for vehicle emission and advancement in thermal system solutions is expected propel the market of passenger cars in future. Mild Hybrid is expected to grow with the highest CAGR in the electric & hybrid vehicle type market Mild Hybrid vehicle is estimated to be the fastest-growing market for the period 2019-2027. The slowdown of diesel-powered vehicles and restrictions on CO2 targets has driven the mild hybrid market. According to Emission Analytics, the mass adoption of mild hybrids over low-take up-volumes of BEVs is an effective solution to cut down on emissions. Also, developments and drop in Lithium-ion battery prices boosting the demand for battery and motor thermal system which has ultimately increased the mild hybrid vehicle market. Easy integration of mild-hybrid powertrain into an existing ICE vehicle architecture is also driving the mild hybrid vehicle market.

The North America market is expected to register the fastest growth during the forecast period

The North America thermal system market is estimated to be the fastest-growing market. In North America, the US is estimated to be experiencing the highest CAGR owing to the rise in implementation of latest technologies in the automotive industry, a surge in the number of research & development activities and the existence of well-established industrial infrastructure in the region. Due to increasing vehicle production in Mexico, it has also become one of the most promising economies in North America. For instance, Hanon Systems is expanding its operation in Central Mexico to support its growing business with automakers in the region. The expanded business will increase its ability to support automakers by adding powertrain cooling and fluid transport products to its production .

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall thermal system market for automotive and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Key Topics Covered:

1 Introduction

1.1 Objectives

1.2 Market Definition

1.2.1 Inclusions & Exclusions

1.3 Market Scope

1.4 Limitations

1.5 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Secondary Data

2.3 Primary Data

2.4 Market Size Estimation

2.5 Market Breakdown and Data Triangulation

2.6 Assumptions & Associated Risks

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Thermal System Market for Automotive

4.2 Thermal System Market for Automotive, By Region

4.3 Thermal System Market for Automotive, By Application (ICE)

4.4 Thermal System Market for Automotive, By Vehicle Type (ICE)

4.5 Electric & Hybrid Vehicle Thermal System Market, By Application

4.6 Thermal System Market for Automotive, By Electric Vehicle Type

4.7 Thermal System Market for Automotive, By Technology (ICE)

4.8 Thermal System Market for Automotive, By Component

5 Market Overview

5.1 Introduction

5.2 Years Considered for the Study

5.3 Market Dynamics

5.3.1 Drivers

5.3.2 Restraints

5.3.3 Opportunities

5.3.4 Challenges

5.4 Revenue Missed: Opportunities for Thermal System Manufacturers of Automotive

6 Thermal System Market for Automotive, By Application (ICE)

6.1 Introduction

6.2 Engine Cooling

6.3 Front Air Conditioning

6.4 Rear Air Conditioning

6.5 Transmission System

6.6 Heated/Ventilated Seats

6.7 Heated Steering

6.8 Waste Heat Recovery

7 Thermal System Market for Automotive, By ICE Vehicle Type

7.1 Introduction

7.2 Passenger Car

7.3 Light Commercial Vehicle (LCV)

7.4 Truck

7.5 Bus

8 Thermal System Market for Automotive (ICE), By Technology

8.1 Introduction

8.2 Active Transmission Warm-Up

8.3 EGR

8.4 Engine Thermal Mass Reduction

8.5 Reduced HVAC System Loading

8.6 Others

9 Electric & Hybrid Vehicle Thermal System Market, By Application

9.1 Introduction

9.2 Battery Thermal Management

9.3 Transmission System

9.4 Engine Cooling

9.5 Front Air Conditioning

9.6 Motor Thermal Management

9.7 Power Electronics

9.8 Rear Air Conditioning

9.9 Heated/Ventilated Seats

9.1 Heated Steering

9.11 Waste Heat Recovery

10 Thermal System Market for Automotive, By Electric Vehicle Type

10.1 Introduction

10.2 Battery Electric Vehicle (BEV)

10.3 Hybrid Electric Vehicle (HEV)

10.4 Plug-In Hybrid Electric Vehicle (PHEV)

10.5 Fuel Cell Electric Vehicle (FCEV)

10.6 48v Mild Hybrid Vehicle

11 Thermal System Market for Automotive, By Component

11.1 Introduction

11.2 Air Filter

11.3 Condenser

11.4 Compressor

11.5 Water Pump

11.6 Motor

11.7 Heat Exchanger

11.8 Heater Control Unit

11.9 Thermoelectric Generator

11.10 Electric Compressor

11.11 Electric Water Pump

11.12 Electric Motor

12 Thermal System Market for Automotive, By Region

12.1 Introduction

12.2 Asia Pacific

12.3 Europe

12.4 North America

12.5 Row

13 Competitive Landscape

13.1 Overview

13.2 Market Ranking Analysis

13.3 Competitive Leadership Mapping

13.4 Competitive Scenario

14 Company Profiles

14.1 Denso Corporation

14.2 MAHLE GmbH

14.3 Valeo

14.4 Hanon Systems

14.5 Borgwarner Inc.

14.6 Gentherm

14.7 Schaeffler AG

14.8 Johnson Electric Holdings Ltd.

14.9 Dana Limited

14.10 Robert Bosch GmbH

14.11 Additional Companies

14.11.1 Europe Eberspcher Continental AG Voss Automotive Inc. Grayson Thermal Systems

14.11.2 North America Captherm Systems Dupont Modine Manufacturing Company Boyd Corporation

14.11.3 Asia Pacific Sanden Holdings Corporation Sanhua Automotive Shandong Houfeng Group

For more information about this report visit https://www.researchandmarkets.com/r/10x6gs

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