Global Automotive Thermal Systems Market (2021 to 2026) - Advancements in Mobility Solutions Presents Opportunities

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Sep 06, 2021, 13:15 ET

DUBLIN, Sept. 6, 2021 /PRNewswire/ -- The "Automotive Thermal Systems Market by Application (Front & rear A/C, Engine & Transmission, Seat, Steering, Battery, Motor, Power Electronics, Waste Heat Recovery), Technology, Components, Vehicle Type and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global automotive thermal system market is projected to grow from USD 40.9 billion in 2021 to USD 49.1 billion in 2026, at a CAGR of 3.7%.

The impact of COVID-19 can be witnessed on vehicle production, causing a downfall of 17% in 2020 compared to 2019. Asia Pacific is expected to be the largest market for automotive thermal systems market during the forecast period, and the passenger car segment is expected to be the leading segment of the market. Waste heat recovery segment, by application in ICE vehicles, is expected to grow at the fastest rate during the forecast period. Battery thermal management segment, by application in electric and hybrid vehicle, is the largest market for automotive thermal systems in electric and hybrid vehicles. As the demand for electric vehicles is increasing, the requirement for effective battery thermal management systems that provide better performance and high range is also going to increase.

Globally, the passenger car segment is expected to be the fastest-growing segment during the forecast period.

The passenger car segment is estimated to be the largest market for automotive thermal systems. The top 6 countries with the highest passenger car production are China, Japan, Germany, India, South Korea, and the US. The key factors that drive the sales of passenger cars in various countries are increasing per capita income and improved standard of living. Also, the growing inclination toward comfort and luxury and demand for advanced features such as heated/ventilated seats, heated steering, and rear air conditioning are expected to drive the market. Consumers in Europe and North America prefer premium and luxury vehicles, and the demand for these vehicles in key Asian countries such as India and China has witnessed an upward trend in recent years. This has boosted the global demand for advanced thermal systems in these vehicles.

Asia Pacific is projected to be the largest regional market

Asia Pacific is estimated to be the largest market for automotive thermal systems and is expected to grow at a CAGR of 4.0% during the forecast period. The Asia Pacific region has emerged as a hub for automotive production in recent years. Changing consumer preferences, increasing per capita income of the middle-class population, and cost advantages have led OEMs to increase vehicle production in the region. Thus, China, India, and Japan have seen a significant increase in vehicle production. The huge vehicle production in the region offers a tremendous growth opportunity for the automotive thermal system market. Favorable investment policies and availability of cheap labor have also made Asia Pacific an ideal market for automotive OEMs. Increased demand for luxury cars with superior cabin comfort has spurred the demand for automotive thermal systems in this region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Automotive Thermal System Market
4.2 Automotive Thermal System Market, by Region
4.3 Automotive Thermal System Market, by Application (Ice)
4.4 Automotive Thermal System Market, by Vehicle Type (Ice)
4.5 Electric & Hybrid Vehicle Thermal System Market, by Application
4.6 Automotive Thermal System Market, by Electric Vehicle Type
4.7 Automotive Thermal System Market, by Technology (Ice)
4.8 Automotive Thermal System Market, by Component

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Stringency of Emission Regulations
5.2.1.2 Increasing Demand for Luxury and Comfort Features
5.2.2 Restraints
5.2.2.1 High Cost of Thermal System Technology
5.2.3 Opportunities
5.2.3.1 Advancements in Mobility Solutions
5.2.3.2 Increase in Demand for Electric Vehicles
5.2.4 Challenges
5.2.4.1 Lack of Standardization
5.2.4.2 Low Adoption of Advanced Thermal Systems in Developing Countries
5.3 Trends/Disruptions Impacting Buyers
5.4 Automotive Thermal System Market Scenario
5.4.1 Realistic Scenario
5.4.2 Low-Impact Scenario
5.4.3 High-Impact Scenario
5.5 Porter's Five Forces Analysis
5.6 Automotive Thermal System Market Ecosystem
5.7 Supply Chain Analysis
5.8 Average Selling Price Trend
5.9 Patent Analysis
5.9.1 Applications and Patents Granted, 2018-2020
5.10 Case Study Analysis
5.10.1 Cooling System Maintenance and Service Case Study
5.10.2 Optare Case Study
5.11 Trade Analysis
5.11.1 Import and Export Data of Radiators and Parts, by Country, 2020 (USD Thousands)
5.11.2 Import and Export Data of Air Conditioning Machines Used in Vehicles for Cabin, by Country, 2020 (USD Thousands)
5.12 Regulatory Framework
5.12.1 Emission Regulations
5.12.1.1 On-Road Vehicles
5.13 Fuel Economy Norms
5.14 Technology Analysis

6 Recommendations
6.1 Asia-Pacific Will be Major Market for Thermal Systems
6.2 Electric & Hybrid Vehicle Thermal System Applications Can be a Key Focus for Manufacturers
6.3 Conclusion

7 Automotive Thermal System Market, by Application (Ice)
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Engine Cooling
7.2.1 Engine Downsizing and Demand for Low Emission Engines Will Drive the Segment
7.3 Front Air Conditioning
7.3.1 Increasing Demand for Comfort and Advancements in Technology to Drive the Segment
7.4 Rear Air Conditioning
7.4.1 Rising Amount of Time Spent by People in Vehicles and Demand for Comfort Features to Drive the Segment
7.5 Transmission System
7.5.1 Growing Demand for Automatic Transmission in Developing Countries to Drive the Segment
7.6 Heated/Ventilated Seats
7.6.1 Increasing Demand for Cabin Comfort to Drive the Segment
7.7 Heated Steering
7.7.1 Growing Demand for Comfort Features in Cold Regions to Drive the Segment
7.8 Waste Heat Recovery
7.8.1 Emission Regulations and Increasing Demand for Hybrid Vehicles to Drive the Segment

8 Automotive Thermal System Market, by Ice Vehicle Type
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Passenger Car
8.2.1 Demand for Fuel-Efficient Passenger Cars to Drive the Segment
8.3 Light Commercial Vehicle (Lcv)
8.3.1 High Demand in North America to Drive the Segment
8.4 Truck
8.4.1 Growth in Large-Scale Industries, Logistics, and Construction in Asia-Pacific to Drive the Segment
8.5 BUS
8.5.1 High Dependence on Public Transport to Drive the Segment

9 Automotive Thermal System Market (Ice), by Technology
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Active Transmission Warm Up
9.2.1 Fuel Economy and Faster Transmission Technology to Drive Demand
9.3 Egr
9.3.1 Increased Adoption of Scr Systems to Restrain Demand
9.4 Engine Thermal Mass Reduction
9.4.1 Demand for Fuel-Efficient Vehicles to Drive the Segment
9.5 Reduced Hvac System Loading
9.5.1 Demand for Enhanced Cabin Comfort to Drive the Segment
9.6 Other Technologies
9.6.1 Performance Cars to Drive the Segment

10 Electric & Hybrid Vehicle Thermal System Market, by Application
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Battery Thermal Management
10.2.1 Government Policies for Electric Vehicles to Drive the Segment
10.3 Transmission System
10.3.1 Increased Demand for Automatic Transmission to Drive the Segment
10.4 Engine Cooling
10.4.1 Demand for Efficient Engines to Drive the Segment
10.5 Front Air Conditioning
10.5.1 Demand for Comfort and Convenience to Drive the Segment
10.6 Motor Thermal Management
10.6.1 Demand for Advanced Electric and Hybrid Powertrains to Drive the Segment
10.7 Power Electronics
10.7.1 Demand for Smart Hybrid and Electric Vehicles to Drive the Segment
10.8 Rear Air Conditioning
10.8.1 Increased Demand for Luxury and Mid-Segment Vehicles to Drive the Segment
10.9 Heated/Ventilated Seats
10.9.1 Demand for Cabin Comfort Features to Drive the Segment
10.10 Heated Steering
10.10.1 Demand for Luxury Vehicles to Drive the Segment
10.11 Waste Heat Recovery
10.11.1 New Technologies for Waste Heat Recovery to Drive the Segment

11 Automotive Thermal System Market, by Electric Vehicle Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Battery Electric Vehicle (Bev)
11.2.1 Government Subsidies and Investments in Charging Infrastructure to Drive Demand
11.3 Plug-In Hybrid Electric Vehicle (Phev)
11.3.1 Benefit of Higher Range to Drive Demand
11.4 Fuel Cell Electric Vehicle (Fcev)
11.4.1 Advantage of Better Fuel Economy to Drive Demand
11.5 48V Mild Hybrid Vehicle
11.5.1 Emission Regulations to Drive Demand

12 Automotive Thermal System Market, by Component

13 Automotive Thermal System Market, by Region

14 Competitive Landscape
14.1 Overview
14.2 Automotive Thermal System Market Share Analysis, 2020
14.3 Revenue Analysis of Top Listed/Public Players
14.4 Competitive Evaluation Quadrant
14.4.1 Terminology
14.4.2 Star
14.4.3 Emerging Leaders
14.4.4 Pervasive
14.4.5 Participants
14.5 Competitive Evaluation Quadrant - Electric Vehicle Thermal System Manufacturers
14.5.1 Star
14.5.2 Emerging Leaders
14.5.3 Pervasive
14.5.4 Participants
14.6 Competitive Scenario
14.6.1 New Product Launches
14.6.2 Deals
14.6.3 Expansions
14.7 Key Player Strategies/Right to Win, 2017-2021

15 Company Profiles
15.1 Automotive Thermal System Market - Key Players
15.1.1 Denso Corporation
15.1.2 Mahle Gmbh
15.1.3 Valeo
15.1.4 Hanon Systems
15.1.5 Borgwarner Inc.
15.1.6 Gentherm
15.1.7 Schaeffler Ag
15.1.8 Johnson Electric Holdings Ltd.
15.1.9 Dana Limited
15.1.10 Robert Bosch Gmbh
15.2 Automotive Thermal Systems Market - Additional Players
15.2.1 Eberspacher
15.2.2 Continental Ag
15.2.3 Voss Automotive Inc.
15.2.4 Grayson Thermal Systems
15.2.5 Captherm Systems
15.2.6 Dupont
15.2.7 Modine Manufacturing Company
15.2.8 Boyd Corporation
15.2.9 Sanden Holdings Corporation
15.2.10 Sanhua Automotive
15.2.11 Shandong Houfeng Group

16 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/5h4gke

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