New Report Offers Automotive Thermostat Market, Trends, Future Prospects during 2017-2025

New research report offers a comprehensive analysis of the “Global Market study on Automotive Thermostat: Passenger Cars to Grab Maximum Revenue Share Through 2025“The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Innovation anticipated to remain a key product differentiation strategy for manufacturers to sustain in this competitive market

Strengthening of the supply chain, particularly in regions such as APAC and North America, is the key focus area of players involved in automotive thermostats. Continuous product innovation is the key strategy of major players to enhance customer base and market share. Well-structured and efficient supply chain network are major growth strategies for reaching out to customer in this market. APAC is expected to be an opportunistic market with respect to demand. Companies are expanding their footprint to cater to the demand for luxury and premium automobiles in the APAC region. In terms of value, Europe has been estimated to account for the largest share in the global automotive thermostat market. The market in MEA is in the nascent stage, primarily due to low automotive production and vehicle parc.

Passenger car segment anticipated to account for a dominant share in the global automotive thermostat market throughout the forecast period

The passenger car segment is expected to remain the most attractive segment throughout the forecast period in the global automotive thermostat market. This segment has a higher index value in terms of market share and incremental $ opportunity. The LCV segment is expected to remain relatively less attractive in terms of growth rate and market share. The HCV segment is expected to have a high CAGR, but the segment will have a minimal market share throughout the forecast period. There is a remarkable improvement in trade and transportation globally and this is resulting in an upsurge in the production of light commercial vehicles. In the coming years, the increasing demand for light commercial vehicles globally is estimated to drive the market for more advanced light commercial vehicles, which in turn would fuel the demand for thermostats.

Increasing sales of premium vehicles likely to boost the global automotive thermostat market

U.S and Germany regions are known as the hub for the supply of premium vehicles. The U.S. region is one of the leading markets for premium vehicles. The global market for automotive thermostats is likely to expand at a higher rate, U.S. being a major growth contributor. As U.S. has prominent vehicle manufacturers, OEMs are focusing on installing innovative and quality products like automotive thermostats that ensure proper and smooth functioning of vehicles. All these factors are likely to create a positive impact on the global automotive thermostat market.

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Fuel efficient and emission free vehicle is the need of the day and hence manufacturers across the globe are taking efforts to produce such automobiles. Consequently, the global market for automotive thermostats is witnessing a boost in the overall production of hybrid vehicles since past few years which is expected to grow remarkably in the coming decade. The increasing adoption of automotive thermostats due to the increase in automobile manufacturing is expected to drive the global automotive thermostat market.

Rapidly growing industries along with increasing urbanization in various countries of APAC is ensuing an improvement in the standard of living which is a main factor responsible for an increase in the automobile production and vehicle parc in the developing regions.   

Future scenario of the global automotive thermostat market

Presently, only luxury automakers such as BMW, Audi, General Motors, Ford, etc. and other OEMs such as Toyota, Hyundai etc., equip few of their vehicles with electronic thermostats. Presently heavy commercial vehicles are equipped with a mechanical type of thermostat. With the growing electronification of automotive and decreasing cost of technology, electronic thermostat is expected to capture a major share of the market by 2025 and conventional thermostats will have a minimal market share primarily contributed from the aftermarket demand. 

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