Press release
Thermal Systems Global Market Report 2025: Steady Growth, Driver Insights, and Future Trends
Thermal Systems Global Market Report 2025
What Is The Projected Market Size Of The Global Thermal Systems Global Market Report 2025 And Its Growth Rate?
• Thermal systems market size was $49.44 billion in 2024
• It is projected to grow to $51.62 billion in 2025 at a compound annual growth rate (CAGR) of 4.4%.
• Aspects like growing industrialization, rise in energy consumption, government initiatives for energy efficiency, are major contributors to market growth.
• By 2029, the market size is expected to reach $62.48 billion with a CAGR of 4.9%.
• Emerging trends such as shift towards electrification, and increasing adoption of geothermal heating and cooling are key growth drivers in the forecast period.
What Is Driving The Growth In The Thermal Systems Global Market Report 2025?
The thermal systems market's growth is significantly fueled by the escalating demand for electric vehicles. Battery electric vehicles (BEVs) heavily rely on thermal systems to regulate temperatures in various components like battery packs, power electronics drives, and electric motors. Robust growth in electric vehicle sales in the recent years, with a noteworthy rise from 9% in 2021 to 14% in 2022, has acted as a high-impact growth driver for the thermal systems market.
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Who Are the Key Players Driving Thermal Systems Global Market Report 2025 Growth?
• 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.
• Sanden Corp.
• Diakin Industries Ltd.
• Calsonic Kansei Corp.
• BorgWarner Inc.
• ZF Friedrichshafen AG
• Honeywell International Inc.
• Parker Hannifin Corporation
• Siemens AG
• Aavid Thermalloy LLC
• Advanced Cooling Technologies Inc.
• Boyd Corporation
• Delta Electronics Inc.
• Laird Technologies Inc.
• Lytron Inc.
• Nortek Air Solutions LLC
• Thermacore Inc.
• Thermotek Inc.
• Vertiv Co.
• Wakefield-Vette Inc.
What Are The Key Trends In The Thermal Systems Global Market Report 2025?
• Integration of renewable energy sources
• Advancements in heat pump technology
• Smart and connected thermal systems
• Energy storage solutions
• District heating and cooling systems
• Advanced thermal insulation materials
• Waste heat recovery
What Are The Segments Of The Global Thermal Systems Global Market Report 2025?
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
Which Region Leads The Thermal Systems Global Market Report 2025?
In 2024, North America was the largest market for thermal systems due to its developed industrial sector and high level of energy consumption. Highly industrialized regions like Asia-Pacific, Western Europe, Eastern Europe alongside North America are expected to show significant growth in the coming years due to the shifting trends towards electrification and sustainable energy solutions.
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What Is Covered In The Thermal Systems Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Thermal Systems Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Thermal Systems Global Market Report 2025 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Thermal Systems Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Thermal Systems Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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