Automotive Thermal System Reduces Harmful Gases Emitted By Car Compressors Without Compromising On Cooling

Automotive thermal system is concern with the management of liquid, temperature and air. It increases the comfort of the passengers by taking care of the temperature inside the vehicle. The main components of automotive thermal system are powertrain cooling, ventilation & AC, battery thermal management, power device cooling and waste heat recovery.

Rising Consumer Preference for Electric Vehicles to Boost Demand for Automotive Thermal Systems

The heightened demand for luxury cars in Europe and Asia Pacific is fueling the demand for automotive thermal systems. Another factor driving the demand for thermal systems is the inclusion of newer HVAC systems. The rising implementation of new technologies and upgrades in existing ones are becoming the key drivers behind the growth of the global automotive thermal system market.

The shift in the preference of customers towards lightweight automobiles has also led to the growth of the automotive thermal system market. Other factors such as stringent emission norms, the rising demand for electric vehicles, and increased usage of eco-friendly refrigerants are also boosting the demand for automotive thermal system market.

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Concerns over Depleting Ozone Layer to Dampen Automotive Thermal System Market

The factors restraining the growth of the global automotive thermal systems market include high costs and strict government norms. The high cost of these systems is due to the implementation of improved and advanced technologies. Meanwhile, the growing concerns regarding the adverse effect of automotive emissions on the ozone layer are causing governments of various countries to impose strict environmental regulations. This is expected to dampen the demand for automotive thermal systems in the coming years.

Automatic Thermal Sensors to Play Major Role in Automotive Thermal Systems

Automatic thermal sensors are anticipated to be used in all automobiles and are thus expected to play a major role in automotive thermal management systems. These sensors are expected to serve as a growth opportunity in the automotive thermal systems market.

The heightened demand for thermal systems that run on alternative fuels will also open new growth avenues in the market. The demand for systems that run on fuels such as liquid hydrogen, bio-alcohols, P-Series fuels, ethanol, and propane is expected to rise.

The global automotive thermal system market is oligopolistic in nature, with the top four key players accounting for 73.4% of the market in 2014. Leading players in the market include Mahle, Denso, Valeo, and Gentherm. The threat of new entrants is low in the automotive thermal system market, as new setups require huge investments. The capital-intensive nature of the market makes it a risk for new players to enter the market, suggests a new report by Transparency Market Research (TMR). Improvement in thermal systems is the prime area of focus for the key market players. For instance, Gentherm Inc. is investing heavily to bring about improvements in thermoelectric generators.

This information is based on the findings of a report published by Transparency Market Research titled “Automotive Thermal System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020.” - http://www.transparencymarketresearch.com/automotive-thermal-system-market.html

According to the report, the global automotive thermal system market is expected to be worth US$48.5 bn by 2020. By component, the HVAC segment has led the market in the recent past and is expected to remain in the lead in the coming years as well. The segment is expected to account for 54.2% of the global automotive thermal system market by 2020. On the basis of geography, Asia Pacific is expected to account for a dominant 35.1% of the market by 2020. The region’s growth in the market is marked by a rise in the demand for construction vehicles. Additionally, the rising disposable income is enabling consumers to purchase automobiles, thus driving the automotive thermal system market in Asia Pacific.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.