Automotive Thermal Systems Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMAUTR311 | Last Updated On: Jul 18 2022 | Available Formats

> Global Automotive Thermal Systems Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Automotive Thermal System Market is segmented By Component (Compressor, HVAC, Powertrain Cooling, Fluid Transport), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Automotive Thermal Systems Market is expected to grow at a CAGR  during the forecasting period (2022-2029).

  • DataM analyses the complete scenario of Global Automotive Thermal Systems Market, market segmentation, geographical analysis, companies, trends, and opportunities in the market.

  • The market is segmented by Component (Compressor, HVAC, Powertrain Cooling, and Fluid Transport), and By Vehicle Type (Passenger cars, Commercial Vehicles).

  • Thermal systems are equipped with thermal sensors that sense the temperature in real-time and provide necessary solutions to the user.

  • In Asia-pacific, the automotive thermal system market shows the highest growth rate followed by North America and Europe.

  • The increase in demand for air conditioning systems for vehicles is high in the Asia Pacific.

  • Automakers are applying new power train Cooling technologies to meet government regulations.

  • Thermal system techniques can improve power train and passenger comfort system efficiencies and are also crucial for the implementation of power train technologies like start-stop and coasting systems.

Market Growth Factors

  • An increase in demand for automotive ventilation and heating systems is expected to drive the automotive thermal system industry over the coming years.

  • Automotive Cooling and heating systems require sensors that detect the engine and cabin temperatures.

  • Further, the growing usage of eco-friendly refrigerants along with the electrification of automobiles is projected to accelerate market growth.

  • Increasing demand for alternative fuels such as propane, hydrogen, and bio alcohols had been noticed as per the need for advanced thermal systems, this can be a crucial opportunity for fueling the growth of the market.

  • One of the major trends of the Automotive thermal systems market is ease of diagnosis through Controller Area Network (CAN) bus interface and supporting sensor units.

Market Restraints

  • Rising demand for luxury cars along with demand for air conditioning in commercial vehicles is expected to elevate the automotive thermal system market.

Market Segmentation

By Product:

  • The Automotive HVAC system provides ventilation, heat, and air conditioning in a vehicle.

  • HVAC equipment is cost-effective and can optimize productivity which is expected to generate growth revenues shortly.

  • Increasing demand for advanced HVAC that are environment-friendly and lightweight is supposed to compel automotive thermal system market growth over the coming years.

Key market segments covered

By Component

  • Compressor

  • HVAC

  • Powertrain Cooling

  • Fluid Transport

By Vehicle Type

  • Passenger Cars

  • Commercial Vehicles

By Region

  • Asia Pacific

  • Europe

  • North America

  • South America

  • Rest of the World

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