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Thermal Systems Market 2023: By Technology, Application, Global Analysis And Forecast To 2032
Thermal Systems Market
The Business Research Company's Thermal Systems Global Market Report 2023 identifies growing electric vehicles demand as the major driver for the Thermal Systems market's growth in the forecast period. Electric vehicles also known as battery electric vehicles (BEVs), lack an internal combustion engine in favor of an electric motor. Thermal systems are used to control the ideal temperatures in battery packs, power electronics drives, and electric motors and are applied to external-internal temperature situations in electric vehicles.
The global thermal systems market size is expected to grow from $45.37 billion in 2022 to $47.72 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. 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 thermal systems market size is expected to grow to $56.58 billion in 2027 at a CAGR of 4.4%.
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Major competitors in the Thermal Systems market are Continental AG, Denso Corporation, Dana Incorporated, Grayson Thermal Systems, Gentherm Inc., Hanon Systems, Lennox International Inc., Modine Manufacturing Company Inc., MAHLE GmbH, Robert Bosch GmbH, Valeo SA, Visteon Corporation, Schaeffler Technologies AG & Co. KG, Johnson Electric Holding Ltd., Behr GmbH & Co. KG, Sanden Corp., United Technologies Corporation, Diakin Industries Ltd., and Calsonic Kansei Corp.
A key trend in the Thermal Systems market includes Technological advancements. Major companies operating in the thermal systems market are introducing new technologies to sustain their position in the market.
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The Thermal Systems market is segmented -
1) By Component: Air Filter, Condenser, Compressor, Water Pump, Motor, Heat Exchanger, Heater Control, Thermoelectric Generator, Other Components
2) By Vehicle: Internal Combustion Engines (ICE), Electric, Off-Vehicle and ATV
3) By Application: Front and Rear A or C, Powertrain, Seat, Steering, Battery, Motor, Power Electronics, Waste Heat Recovery, Sensor
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Thermal Systems market.
The Business Research Company's "Global Thermal Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Thermal Systems Market Include:
1. Executive Summary
2. Thermal Systems Market Characteristics
3. Thermal Systems Market Trends And Strategies
4. Thermal Systems Market - Macro Economic Scenario
5. Thermal Systems Market Size And Growth
........
26. Africa Thermal Systems Market
27. Thermal Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Thermal Systems Market
29. Thermal Systems Market Future Outlook and Potential Analysis
30. Appendix
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