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Automotive Thermostat Market Estimated to Expand at a Double-Digit CAGR through 2029

Automotive Thermostat Market

Automotive Thermostat Market

The study objectives of Automotive Thermostat Market report are continuously involved in the research of the profile of key players that are established in recent times to keep the record updated. To keep the growth rate very smooth and stable, the research team carefully go through the manufacturing company's strategy & planning of development and then analyze them for growth opportunity.

The global automotive thermostat market is expected to valued at ~US$ 2.2 Bn by 2022-end, and is estimated to increase at a CAGR of ~3.0% during 2019-2029.

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Housed automotive thermostat is expected to remain highly preferred for wide range of vehicles, thereby contributing to major share of the manufacturers' bottom lines. In terms of geographical outlook, Europe is projected to be a prominent region for the global automotive thermostat market, and is estimated to grow at a CAGR of ~3% during the forecast period.

Demand for Advanced Product Solutions from OEMs and Independent Aftermarket in Europe

The German automotive industry has always been a frontrunner in terms of technological advancements. The present market scenario for the automotive component industry in Germany still revolves around 'innovation' as a key growth strategy. The automotive thermostat market is significantly driven by the increasing demand for new/enhanced products, both from automakers as well as the replacement market. For thermostat-controlled cooling systems, the electronic-controlled variant is the more preferred option as it enables shorter warm-up time and lower fuel consumption. This factor is expected to drive the global automotive thermostat market growth during the forecast period.

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Crude Oil Prices to Strongly Influence the Global Automotive Thermostat Market Growth

Crude oil prices have been influencing the auto component market, as when the price of fuel lowers, people tend to drive more miles, which rushes wear on auto components, thereby leading to the need for early replacement of vehicle components. Lower fuel prices also encourage people to buy new vehicles, and this increases the demand for automotive equipment from original equipment manufacturers (OEMs). Such factors are expected to increase the sales of automotive thermostats. Moreover, over the last few years, the automotive parts and accessories manufacturing industry has undergone comprehensive remodeling, which is leading to the advent of a highly competitive global industry, and subsequently raising the demand for automotive thermostats.

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Vendor Insights

The global automotive thermostat market is anticipated to be consolidated, owing to the limited presence of manufactures at regional as well as international levels. Few players identified across the value chain of the global automotive thermostat market are BorgWarner Inc., Gates Corporation, AC Delco, Continental AG, MAHLE GmbH, MotoRad Ltd., Hella KGaA Hueck & Co., Robert Bosch GmbH, Stant Manufacturing, Inc., Valeo SA, Tama Enterprises Co., Ltd., Vernet SAS, Nippon Thermostat Co. Ltd., Ningbo Xingci Thermal Electric Appliances Co. Ltd., and Kirpart A.S. Tier-1 players are focusing on collaborations and strategic expansions to increase their brand positions, and global and regional footprint in the automotive thermostat market.

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Auto Parts Manufacturing Market

According to the market estimates, the global auto parts manufacturing market is projected to reach ~US$ 532 Bn by the end of the forecast period, registering a CAGR of ~3%.

Shipping Containers Market

Global shipping containers market is anticipated to witness significant market valuation and a robust growth rate during the period of assessment of 2017-2025.

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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

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