Automotive Thermal System Market Analysis to 2030 Leading Players BorgWarner Inc., Continental AG, Dana Incorporated, Denso Corporation, Gentherm Incorporated, Grayson Thermal Systems, Hanon Systems

According to a new report published by Allied Market Research, titled, "Automotive Thermal System Market," The automotive thermal system market was valued at $42.8 billion in 2020, and is estimated to reach $71.9 billion by 2030, growing at a CAGR of 5.5% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐚𝐭:- https://www.alliedmarketresearch.com/request-sample/1842

Rise in adoption of electric vehicles due to growing environmental concerns and enforcement of stringent emission regulations contribute toward the market growth. Numerous countries across the globe are adopting electric vehicles to achieve their net zero emission target. Moreover, integration of thermal system in electric vehicle aids in improving operating range, battery performance, and comfort. Thus, greater demand for electric vehicles is one of the factors that will be driving the growth of the automotive thermal system market during the forecast period.

Automobile manufacturers are focusing on development of electric & hybrid vehicle across the globe. In context of electric vehicle, numerous manufactures have started to develop electric components such as electric compressor and battery cooling systems for electric & hybrid vehicles. For instance, in August 2021, Johnson Electric introduced high-power electric compressor, which aids in reducing heat produced by battery during high-rate fast charging of electric vehicles.

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 - https://www.alliedmarketresearch.com/purchase-enquiry/1842

The significant factors impacting the growth of the automotive thermal system industry comprises greater demand for luxury vehicles with advanced features & comfort, introduction of stringent emission regulations, and integration of smart thermal management solutions into vehicles.

Moreover, factors such as high cost associated with automotive thermal systems and lack of standardization due to variation in emission regulations are expected to hamper the market growth. Conversely, surge in demand for electric vehicles, introduction of light weight heating, ventilation, and air conditioning (HVAC) solutions & ecofriendly refrigerants, and technological advancements are expected to create remunerative opportunities for the growth of the automotive thermal system market during the forecast period.

COVID-19 Impact Analysis

The COVID-19 crisis has created uncertainty in the market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. Governments of different regions have already announced total lockdown and temporarily shutdown of industries, thereby adversely affecting the overall production and sales of automotive thermal system.

The impact of the COVID-19 pandemic has resulted in supply chain disruptions causing halt in production of vehicles & low sales of passenger cars across the globe. Moreover, government enforced lockdown resulted in halt in production and decrease in demand for automotive during COVID-19 pandemic period. A global shortage of components has caused major production delays, and limited vehicle inventory.

The key players operating in the global automotive thermal system market include BorgWarner Inc., Continental AG, Dana Incorporated, Denso Corporation, Gentherm Incorporated, Grayson Thermal Systems, Hanon Systems, Mahle GmbH, Robert Bosch GmbH, and Valeo S.A.

𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 (230 𝗣𝗮𝗴𝗲𝘀 𝗣𝗗𝗙 𝘄𝗶𝘁𝗵 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀, 𝗖𝗵𝗮𝗿𝘁𝘀, 𝗧𝗮𝗯𝗹𝗲𝘀, 𝗙𝗶𝗴𝘂𝗿𝗲𝘀) 𝗮𝘁: https://www.alliedmarketresearch.com/automotive-thermal-system-market/purchase-options

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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