A recent report published by Infinium Global Research on automotive thermal system market provides in-depth analysis of segments and sub-segments in global as well as regional automotive thermal system market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive thermal system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive thermal system market. According to the report the global automotive thermal system market is projected to grow at a CAGR of 7.5% over the forecast period of 2018-2024.
Increased in the usage of advanced HVAC (Heating, ventilation, and air conditioning) systems in automobiles is anticipated to be the key factor driving the growth of the automotive thermal system market. Additionally, rising demand for thermal systems that run on alternative fuels such as propane, bio-alcohols, ethanol and P-Series fuels is expected to fuel the growth of the automotive thermal system over the forecast period. However, the high cost of the thermal systems along with the thermal leakage systems is anticipated to hamper the growth of the market.
On the other hand, adoption of green initiatives to minimize loss and promote the effective and clean distribution of energy by various countries is expected to further offer lucrative growth opportunities for the key players in the automotive thermal market over the upcoming years.
Changing customer preference to develop smart solutions that are integrated with new equipment making more efficient to consumer requirements are projected to replace the inactive equipment’s. Hence they are expected to propel the manufacturers in the automotive thermal system market.
Among the geographies, Asia-Pacific is anticipated to be the largest region in the automotive thermal system market due to demand for the automotive thermal system in countries such as China, Japan, and India. Additionally, the US and Europe are expected to further provide several growth opportunities with the rise in demand for eco-friendly technology based thermal management systems in the upcoming years. Moreover, huge infrastructural developments are driving the construction equipment and heavy vehicles market, which in turn is driving the automotive thermal system market growth in the North American regions.
Recent advancement in technology has led to the development of efficient thermal systems. Therefore, Companies are introducing innovative HVAC and thermal systems to gain a larger market share. The major players profiled include Valeo, Mahle GmbH, Grayson Thermal Systems, Gentherm Inc., and Denso Corporation. On the other hand, the first thermoelectrically cooled and Genthem Inc. created heated seat system for the automotive sector.
The report on global automotive thermal system market covers segments such as component. On the basis of the component, the global automotive thermal system market is categorized into the compressor, HVAC, powertrain cooling and fluid transport.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global automotive thermal system market such as Lennox International. Inc, Modine Manufacturing Co, Calsonic Kansei Corp, Visteon Corp, Daikin Industries Ltd, United Technologies Corporation, Sanden Corp, Grayson Thermal Systems, Valeo and MAHALE GmbH.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive thermal system market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive thermal system market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive thermal system market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the automotive thermal system market to understand the present and future trends in this market and formulate their strategies accordingly.