Automotive Thermal System Market is expected to grow with a CAGR of xx% during the forecast period of 2018 to 2025.
Automotive Thermal System is a technical structure which manages liquid, temperature and air within the vehicle. It upgrades the comfort of occupants by maintaining the temperature inside the vehicle. Automotive thermal system regulates the temperature of various automotive components such as battery, cabin and others in order to increase their efficiency and checks the breakdown of the vehicle.
With the rise of efficiency and advancement of automobile technology engines generate more heat. In order to regulate that, better thermal management solutions are required. Some major position holders of the automobile manufacturing industry such as BMW and Mercedes are now incorporating upgraded and light weighted Thermal Control System in their products. HVAC technology has replaced the old HFO-1234yf by R-134a, due to its harmful effects. Application of the new and advanced technologies and upgrading the existing ones will act as a key driver for the Automotive Thermal Control market. However, the increasing cost of advanced thermal systems is restraining the growth of the Market. Moreover, the research and development in the field of Automotive Thermal technology require huge investments which also act as a blocking agent for the market growth. An increasing demand for alternative fuels such as propane, hydrogen and bio alcohols has been noticed as per the need of advanced thermal systems that run on them. This can be a key opportunity for fueling the growth of the market.
Automotive Thermal System Market Segment Analysis
The segmentation of the Automotive Thermal Market is done on the basis of Component and Geography. On the basis of a component, the market is segmented as Compressor, HVAC, Powertrain Cooling, and Fluid Transport. By Geography the market is further segmented as North America, Europe, Asia-Pacific and Rest of the World (Latin America, Africa, and Middle-East).
The Major Companies of the Automotive Thermal market are General Motors Company, Denso Corporation, Magma International Inc., Valeo, Ford Motor Company, Delphi Automotive PLC, BorgWarner Automotive Powertrain Systems Corp., Hyundai Motor Company, Continental AG and Friedrichshafen AG
Automotive Thermal System Market Segmentation
• Powertrain Cooling
• Fluid Transport
• North America
o Rest of Europe
o South Korea
o Rest of Asia- Pacific
• Rest of the World
o South America
o Middle East
Automotive Thermal System Market Key Players
• General Motors Company
• Denso Corporation
• Magma International Inc.
• Ford Motor Company
• Delphi Automotive PLC
• BorgWarner Automotive Powertrain Systems Corp.
• Hyundai Motor Company
• Continental AG
• Friedrichshafen AG