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(2023-2032) Automotive Thermal System Global Market Trends And Forecast Report | By Types, Applications, Regions And Players Include Continental AG, Denso Corporation, Dana Incorporated, Grayson Thermal Systems, Gentherm Incorporated
Automotive Thermal System Market
Automotive Thermal System Market Size, Growth Rate, And Forecast
The global automotive thermal systems market is expected to grow from $38.53 billion in 2022 to $40.87 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive thermal systems market is expected to grow to $49.88 billion in 2027 at a CAGR of 5.1%.
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Automotive Thermal System Market Drivers
The increasing stringent emission regulations imposed by governing agencies are expected to propel the growth of the automotive thermal systems market going forward. Controlling GHG emissions from vehicles has become a significant challenge as the number of vehicles on the road worldwide has increased. Regulatory organizations like the European Commission (EC) and the United States Environmental Protection Agency (US EPA) have imposed fuel economy standards and regulated fuel sulfur content limits to overcome the exponential effect of emissions.
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Automotive Thermal System Market Segments
• By Type: Component: Compressor, HVAC, Powertrain Cooling, Fluid Transport
• By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Other Vehicle Types
• By Application: Front and Rear A/c, Engine and Transmission, Seat, Battery, Motor, Waste Heat Recovery, Power Electronics
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Thermal System market.
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Automotive Thermal System Market Key Players
Major competitors in the Automotive Thermal System market include Continental AG, Denso Corporation, Dana Incorporated, Grayson Thermal Systems, Gentherm Incorporated, Hanon Systems, Lennox International Inc., Modine Manufacturing Company Inc., Mahle Behr GmbH & Co. KG
The Business Research Company's "Global Automotive Thermal System Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Thermal System Market Include:
1. Executive Summary
2. Automotive Thermal System Market Characteristics
3. Automotive Thermal System Market Trends And Strategies
4. Automotive Thermal System Market - Macro Economic Scenario
5. Automotive Thermal System Market Size And Growth
……….
28. Key Mergers And Acquisitions In The Automotive Thermal System Market
29. Automotive Thermal System Market Future Outlook and Potential Analysis
30. Appendix
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