Report Feature
Automotive Thermal System Market Trends and Forecast
The future of the automotive thermal system market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle markets. The global automotive thermal system market is expected to grow with a CAGR of 5% to 7% from 2023 to 2028. The major drivers for this market are stringent vehicle norms and increasing demand for luxury vehicles along with advanced safety & comfort features, and integration of thermal sensors into vehicles.
The future of the automotive thermal system market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle markets. The global automotive thermal system market is expected to grow with a CAGR of 5% to 7% from 2023 to 2028. The major drivers for this market are stringent vehicle norms and increasing demand for luxury vehicles along with advanced safety & comfort features, and integration of thermal sensors into vehicles.
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Automotive Thermal System Market by Segment
The study includes a forecast for the global automotive thermal system market by component, application, vehicle type, and region, as follows:
Automotive Thermal System Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:
- Compressor
- HVAC
- Powertrain cooling
- Fluid Transport
Automotive Thermal System Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
- Front and Rear A/C
- Engine and transmission
- Seat
- Battery
- Motor
- Waste Heat Recovery
- Power Electronics
Automotive Thermal System Market by Vehicle Type [Value ($B) Shipment Analysis from 2017 to 2028]:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Automotive Thermal System Market by Region Component [Value ($B) Shipment Analysis from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Automotive Thermal System Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive thermal system companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive thermal system companies profiled in this report include.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive thermal system companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive thermal system companies profiled in this report include.
- BorgWarner
- Continental
- Dana Incorporated
- Denso Corporation
- Gentherm Incorporated
- Grayson Thermal Systems
- Hanon Systems
- Mahle GmbH
- Robert Bosch
- Valeo
Automotive Thermal System Market Insights
- Lucintel forecasts that compressor will remain the largest segment over the forecast period due to increasing penetration of compressors in A/C systems, which helps in absorbing the heated air from the cabin of the vehicle and enables the air-conditioning system to work efficiently, thus facilitating unhampered cooling process inside the vehicle.
- Within this market, passenger cars are expected to remain the largest segment due to increase in demand for heated/ventilated seats in the passenger vehicles and advancements in thermal system solutions.
- APAC will remain the largest region due to consistent rise in the demand for passenger vehicles and increasing penetration of smart thermal management in vehicles.
Features of the Automotive Thermal System Market
- Market Size Estimates: Automotive thermal system market size estimation in terms of value ($B)
- Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Automotive thermal system market size by various segments, such as by component, application, vehicle type, and region
- Regional Analysis: Automotive thermal system market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different by component, application, vehicle type, and regions for the automotive thermal system market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the automotive thermal system market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the automotive thermal system market size?
Answer: The global automotive thermal system market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for automotive thermal system market?
Answer: The global automotive thermal system market is expected to grow with a CAGR of 5% to 7% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the automotive thermal system market?
Answer: The major drivers for this market are stringent vehicle norms and increasing demand for luxury vehicles along with advanced safety & comfort features, and integration of thermal sensors into vehicles.
Q4. What are the major segments for automotive thermal system market?
Answer: The future of the automotive thermal system market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle markets.
Q5. Who is the key automotive thermal system companies?
Answer: Some of the key automotive thermal system companies are as follows:
Q1. What is the automotive thermal system market size?
Answer: The global automotive thermal system market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for automotive thermal system market?
Answer: The global automotive thermal system market is expected to grow with a CAGR of 5% to 7% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the automotive thermal system market?
Answer: The major drivers for this market are stringent vehicle norms and increasing demand for luxury vehicles along with advanced safety & comfort features, and integration of thermal sensors into vehicles.
Q4. What are the major segments for automotive thermal system market?
Answer: The future of the automotive thermal system market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle markets.
Q5. Who is the key automotive thermal system companies?
Answer: Some of the key automotive thermal system companies are as follows:
- BorgWarner
- Continental
- Dana Incorporated
- Denso Corporation
- Gentherm Incorporated
- Grayson Thermal Systems
- Hanon Systems
- Mahle GmbH
- Robert Bosch
- Valeo
Q6. Which automotive thermal system segment will be the largest in future?
Answer: Lucintel forecasts that compressor will remain the largest segment over the forecast period due to increasing penetration of compressors in A/C systems, which helps in absorbing the heated air from the cabin of the vehicle and enables the air-conditioning system to work efficiently, thus facilitating unhampered cooling process inside the vehicle.
Q7. In automotive thermal system market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to consistent rise in the demand for passenger vehicles and increasing penetration of smart thermal management in vehicles.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Answer: Lucintel forecasts that compressor will remain the largest segment over the forecast period due to increasing penetration of compressors in A/C systems, which helps in absorbing the heated air from the cabin of the vehicle and enables the air-conditioning system to work efficiently, thus facilitating unhampered cooling process inside the vehicle.
Q7. In automotive thermal system market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to consistent rise in the demand for passenger vehicles and increasing penetration of smart thermal management in vehicles.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Table of Contents
1. Executive Summary
6.2 Emerging Trends in the Global Automotive Thermal System Market
6.1.1 Growth Opportunities for the Global Automotive Thermal System Market by Component
6.1.2 Growth Opportunities for the Global Automotive Thermal System Market by Application
6.1.3 Growth Opportunities for the Global Automotive Thermal System Market by Vehicle Type
6.1.4 Growth Opportunities for the Global Automotive Thermal System Market by Region
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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Key Questions
- • Which segments will grow at a faster pace and why?
- • Which region will grow at a faster pace and why?
- • What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- • What are the business risks and competitive threats in this market?
- • What are the emerging trends in this market and the reasons behind them?
- • What are some of the changing demands of customers in the market?
- • What are the new developments in the market? Which companies are leading these developments?
- • Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- • What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- • What M&A activity has occurred in the last five years and what has its impact been on the industry? For any questions related to automotive thermal system market or related automotive thermal system companies, automotive thermal system market size, automotive thermal system market share, automotive thermal system analysis, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
