Automotive Thermal System Market Size, Share | Forecast Report 2027 from rocky rai's blog

IMARC Group, a leading market research company, has recently releases report titled “Automotive Thermal System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The study provides a detailed analysis of the industry, including the global automotive thermal system market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

The global automotive thermal system market size reached US$ 34.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 43.8 Billion by 2027, exhibiting a growth rate (CAGR) of 4.17% during 2022-2027.

Automotive thermal systems monitor and regulate the working temperatures of numerous automobile components, including motors, batteries, the cabinet area, etc., to increase their efficiency, prevent a breakdown, reduce temperature fluctuations, etc. They usually comprise of compressors, fluid transport, heating, ventilation and air conditioning (HVAC) systems, powertrain cooling mechanisms, etc. Automotive thermal systems also decrease fuel consumption and improve powertrain efficacy, which controls carbon emissions. They are extensively utilized to manufacture heavy vehicles across the transportation and construction industries.

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The escalating need to minimize the carbon emissions produced by internal combustion engines (ICEs) and the implementation of stringent regulations by government bodies to reduce vehicular pollution are primarily driving the automotive thermal system market. Moreover, the increasing adoption of advanced and sustainable HVAC systems is further catalyzing the market growth. Besides this, the rising popularity of electric vehicles (EVs) is acting as another significant growth-inducing factor, owing to the utilization of automotive thermal systems to maintain battery temperature at optimum operating conditions and enhance user comfort without impacting vehicle efficiency. Furthermore, the integration of these systems with sensors that sense the temperature in real-time is augmenting the global market. Apart from this, the growing number of construction activities across countries is propelling the demand for heavy vehicles, which, in turn, is expected to stimulate the automotive thermal system market over the forecasted period.

The report has segmented the market into the following categories:

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 (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East & Africa

The report covers the major market players including:

• 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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