Press release
Thermal Systems Market Set to Skyrocket: Projected Worth of $41.7 Billion by 2027
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=228170865
The passenger Car segment would lead the thermal systems market during the forecast period
As estimated, the ICE passenger car segment would be the largest market for thermal systems. The stringent emission norms prompt the demand for advanced engine and exhaust technologies that require efficient thermal systems. OEMs achieve better engine cooling using technologies such as electronically assisted thermostats, pulse-width-modulated fans, and electric water pumps. Engine downsizing is becoming more popular in modern vehicles. Further, the growing inclination toward comfort and luxury prompts the market demand for heated/ventilated seats, heated steering, and rear air conditioning. Europe and North America have a higher demand for premium vehicles, and a few Asian countries such as China, Japan, and India have also showcased an upward trend. Thus, growing premium car demand would further boost this segments advanced thermal systems market.
The waste heat recovery segment would be the fastest-growing thermal system application
Waste heat recovery is estimated to grow at the highest CAGR under the review period. The stringent emission regulations with lowered emission limits and updated CO2 and fuel efficiency regulations would require the fitment of after-treatment devices - turbochargers, EGR, thermoelectric generator, and SCR, among others. These technologies offer various advantages such as enhanced performance, lower emissions, and reduced fuel consumption. These growth factors would fuel the waste heat recovery segments growth in the future.
Request Free Sample Now @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=228170865
"Asia Pacific would be the largest regional market for automotive thermal systems."
The Asia Pacific region holds the largest market share in automotive thermal systems owing to rising vehicle production and increasing electric vehicle sales. Increased ICE vehicle production in China will create the demand for engine thermal management and waste heat recovery thermal systems. The rising adoption of automatic and CVT transmission in mid to top-segment cars will provide growth opportunities for transmission cooling. Rising premium vehicle sales would also drive advanced thermal systems such as multizone climate control, heated/ ventilated seats, heated steering, and rear air conditioning. Furthermore, this regions electric vehicle sales are high, providing an opportunity for battery and motor thermal systems. Thus, considering all the factors mentioned above, Asia Pacific would have a promising market for thermal systems in the future
The thermal systems market is led by established global suppliers such as Denso Corporation (Japan), MAHLE GmbH (Germany), Hanon Systems (South Korea), Valeo (France), and BorgWarner Inc. (US). These companies adopted several strategies to gain traction in the thermal systems market. New product development, partnerships, and expansion strategies from 2018 to 2022 helped them to innovate on its offerings and broaden their customer base
View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-thermal-management-market-228170865.html
630 Dundee Road
Suite 430
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: newsletter@marketsandmarkets.com
Phone: 18886006441
Address: 630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Thermal Systems Market Set to Skyrocket: Projected Worth of $41.7 Billion by 2027 here
News-ID: 3043976 • Views: …
More Releases from MarketsandMarkets™ INC.
Electric Vehicle Market Size, Share, Trends & Analysis by 2030
The global EV market is projected to grow from USD 388.1 billion in 2023 to USD 951.9 billion by 2030, registering a CAGR of 13.7%. The electric vehicle (EV) market is currently experiencing a transformative phase of rapid growth and innovation. With increasing global concern over climate change and air pollution, coupled with advancements in technology and supportive government policies, the adoption of EVs has gained tremendous momentum. Consumers are…
Automotive Radar Market Valued at $33.6 billion by 2030
The global automotive radar market is projected to grow from USD 6.6 billion in 2024 to USD 33.6 billion by 2030, registering a CAGR of 31.1%.
The automotive radar market is flourishing due to a confluence of factors. The primary driver is the surging demand for Advanced Driver-Assistance Systems (ADAS) and autonomous vehicles. These technologies heavily rely on radar for object detection and measurement, making it an essential component. Furthermore, stricter…
Connected Car Market Poised to Reach $26.4 billion by 2030
The globally connected car market is estimated to grow from USD 12.4 billion in 2024 to USD 26.4 billion by 2030, at a CAGR of 13.3%.
Government initiatives towards developing intelligent transportation networks and the growing trend of in-vehicle connectivity solutions are two factors influencing the growth of the worldwide connected car market. Also, the consumer demand for a safer, more convenient, and entertaining driving experience is a significant driver. This…
Semi-Autonomous & Autonomous Trucks and Buses Market worth $179.9 billion by 203 …
The Semi-autonomous & autonomous Trucks and Buses market size is projected to grow from USD 40.7 Billion in 2024 to USD 179.9 Billion by 2035, at a CAGR of 14.4%. The increasing demand for electric and autonomous vehicle and government regulation regarding safety is expected to increase the demand for Semi-autonomous & autonomous Trucks and Buses. Additionally, continuos innovation in advance driving technologies and components will boost the demand…
More Releases for Asia
Asia Private Equity Firm, Asia Private Equity Management, Asia Private Equity Se …
The private equity market in China has been rapidly growing in recent years. Private equity (PE) refers to the purchase of shares in a company that are not publicly traded on a stock exchange. PE firms typically target companies that are undervalued or in need of capital for growth, and aim to improve the company's operations and financial performance before selling it at a higher value.
https://boomingfaucet.com/
Asia Private Equity Consulting
E-mail:nolan@pandacuads.com
In China,…
South East Asia Business Jet Market And Top Key Players are Asia Corporate Jet, …
By 2022, the South East Asia Business Jet Markets estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period. The Global Business Jet Market, currently at 21 million USD, contributes the highest share in the market and is poised to grow at the fastest rate in the future. The three broad categories of business jets are Small,…
LIXIL Asia Presents Asia Pacific Property Awards
Through its power brands GROHE and American Standard, LIXIL Asia signs a three-year deal to become the Headline Sponsor of the Asia Pacific Property Awards from 2019 until 2022.
23rd January 2019: The International Property Awards, first established in 1993, are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating within the architecture, interior design, real estate and property…
PEOPLEWAVE WINS ASIA TECH PODCAST PITCHDECK ASIA 2019 AWARDS
15 January 2019, Singapore – Peoplewave, Asia’s leading data-driven HR technology company, won the Asia Tech Podcast (ATP) Pitchdeck Asia 2019 Awards, being awarded “Startup Most Likely to Succeed in 2019".
The 2019 Pitchdeck Asia Awards is an opportunity for the Asian Startup Ecosystem to shine a spotlight on some of its best startups. The awards were decided by a public vote. More than 7,200 votes were cast by registered LinkedIn…
Undersea Defence Technology Asia, UDT Asia 2011
Latest Military Diving Technologies featured in UDT Asia
Equipping Asia’s navies with the latest diving technology for asymmetric warfare and
operations
SINGAPORE, 17 October 2011 - Naval diving and underwater special operations is a field that is
seeing increased attention and investment amongst navies in Asia. Units such as the Indonesian Navy‟s KOPASKA, the Republic of Singapore Navy‟s Naval Diving Unit (NDU), the Royal Malaysian Navy‟s PASKAL are increasingly utilising specialised equipment for conducting…
Asia Diligence – Specialist Investigative Due Diligence for Asia & Beyond
Asia Diligence today announced the opening of its European Customer Services office in the United Kingdom. The office is to be managed by Steve Fowler and will focus on providing services to Asia Diligence’s European customers. Asia Diligence is also planning to open a US office in the near future, which will provide customer service to its US and North American clients.
Asked to comment on the move, Luke Palmer, the…
