According to the latest report by IMARC Group, titled “Automotive Thermal System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, . Automotive thermal system maintains and regulates the desired temperature level of different vehicle components, such as the motor, battery, and cabinet area. These systems are primarily designed to reduce temperature fluctuations, prevent breakdowns, and increase vehicular efficiency. Furthermore, automotive thermal systems also minimize fuel consumption and improve powertrain efficacy that controls carbon emissions. It is widely deployed to manufacture heavy vehicles used in the construction and transportation sectors. In recent times, the rising adoption of electric vehicles has increased the utilization of automotive thermal systems to enhance user comfort without impacting vehicle efficiency and maintaining battery temperature at optimum operating conditions.
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The growing requirement to minimize carbon emissions produced by internal combustion engines (ICEs), along with the introduction of favorable government regulations for environmental protection, is primarily driving the market growth. Additionally, the rising adoption of advanced heating, ventilation, and air conditioning (HVAC) systems that are environmental-friendly and lightweight is also propelling the demand for automotive thermal systems. Moreover, the increasing sales of hybrid electric vehicles (HEVs), coupled with the integration of sensors with automotive thermal systems that sense the temperature in real-time, are further impelling the global market. Looking forward, IMARC Group expects the global automotive thermal system market to continue its moderate growth during the next five years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive thermal system market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, component and vehicle type.
Breakup by Component:
- Compressor
- HVAC
- Powertrain Cooling
- Fluid Transport
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape Key Player:
- Borgwarner Inc.
- Continental Aktiengesellschaft
- DENSO Corporation
- General Motors Company
- Gentherm Incorporated
- Grayson Automotive Services Limited
- Lennox International Inc.
- MAHLE GmbH
- Modine Manufacturing Company Inc.
- Visteon Corporation
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