Global Automotive Thermal System Market Size Share Analysis Growth and Demand Forecast Report by 2027

The study's base year is 2020, with projections up to 2027. From USD 41.2 billion in 2021, the market size will grow to USD 50.5 billion by 2027. It will witness a CAGR of 3.8% during the forecast period.

To keep command over the GHG emissions from automobiles is the novel issue being faced by global vehicle parc. European Commission (EC) and the United States Environmental Protection Agency (US EPA) are some of the bureaucrats that have managed to modulate fuel sulphur content limits as well as fuel economy standards.

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Advantages of Thermal System Technology:

Thermal System Technology is used for the reduction of CO2 and enhancement of vehicle efficiency by utilizing the waste heat and supervising the heating and cooling systems of the vehicles.

Engine thermal mass reduction, predictive powertrain control, integrated liquid-cooled exhaust/EGR, transmission rapid warm-up, dynamic engine thermal control, and Thermoelectric Capture and Generation (TEG) are some of the affluent vehicles with various thermal system technologies being implemented in them.

Market Segments:

• By Component
• By Vehicle type
• By Application

By Component:

Compressor, HVAC, Powertrain cooling, and Fluid transport are the sub-divisions of the Component market segment. Compressors are being implemented in the A/C of automobiles to absorb the heat prevailing in their cabin. This factor is going to escalate the market of the global automotive thermal system.

By Vehicle Type:

Passenger vehicles and Commercial vehicles are the sub-divisions of Vehicle Type. There is a prominent rise in the sale of passenger vehicles due to the implementation of heated /ventilated seats, and rear and front A/C in the passenger vehicles as the number of passengers is rising day by day.

By Application:

Front and Rear A/C, Engine and transmission, Seat, Steering, Battery Motor, Power Electronics, and Waste Heat Recovery are the sub-divisions of Application. The use of Waste Heat Recovery in gasoline vehicles has become a major factor in the rising demand for global automotive thermal systems.

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Forthcoming:

Rankine cycle and thermal electric exhaust heat recovery systems are the forthcoming technologies in thermal systems.

Growth Drivers:

The characteristic of modulating CO2 emission from vehicles as well as the execution of turbochargers in commercial vehicles has become a major reason for the rising demand for global automotive thermal systems. There is an increased demand for thermal sensors in passenger vehicles, and smart thermal management in automobiles are some facts that will uplift the market of the global automotive thermal systems.

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Benefits of implementing thermal technologies:

The implementation of thermal technologies in traditional vehicles has increased the efficiency of the engine, transmission, and HVAC systems.

On the other hand, thermal technologies have also upgraded the range of the electric powertrain, minimized the charging time, and lessen the size, mass, and cost of the powertrain subsystem like motor, power electronics, or battery.

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VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, market shares and anticipated new trends & technologies arising across a wide range of industries.

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