Automotive Thermal System Market to See Huge Growth & Profitable Business, Key Players: Valeo, Mahle, Gentherm

[98 Pages Report] Automotive Thermal System Market by Component (Compressor, HVAC, Powertrain Cooling and Fluid Transport) Forecast, 2014-2030.

PORTLAND, OR, UNITED STATES, September 8, 2021 /ENDdresswire.com/ — Increasing attention to environmental sustainability would lead to the development of environmentally friendly technology-based thermal management solutions in the coming years. In addition, components such as powertrain cooling would be used more in the next five years.

KEY FINDINGS OF AUTOMOTIVE THERMAL SYSTEM MARKET:
Asia-Pacific generated maximum sales in 2015, followed by Europe, and the former is expected to experience the highest growth rate.

The HVAC segment accounted for the largest share in 2015.

The liquid transportation segment is expected to experience the fastest growth from 2016 to 2022.

The key players profiled in the report are Valeo, Mahle GmbH, Grayson Thermal Systems, Gentherm Inc. and Denso Corporation.

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Automotive thermal system market report, published by Allied Market Research, predicts that the global market will reach an estimated $60,000 million by 2022, growing at a CAGR of 7.8% from 2016 – 2022. Asia-Pacific is expected to see the highest rate of growth, due to the increase in demand for automotive thermal management systems in countries such as China, Japan, India and others.

Increased use of advanced HVAC systems in automobiles and an increase in the propensity to spend money on emerging economies are key factors driving market growth. However, high costs of thermal systems inhibit the growth of the market. Technological advances and a growing demand for automotive thermal systems in emerging economies are expected to generate lucrative business opportunities for market players.

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The HVAC segment accounted for approximately 55% of total market revenue in 2015 and is expected to continue this trend over the forecast period. The rising demand for lightweight HVAC systems is expected to provide profitable opportunities for manufacturers. The liquid transportation segment is expected to account for approximately 14% of the market by 2022, due to its increasing use in high-end and heavy-duty vehicles.

Asia-Pacific accounted for 36% of the global automotive thermal systems market share in 2015 and is expected to see the fastest growth over the forecast period. Market growth in the region is complemented by an increase in demand in countries such as China, Japan and others. The US and Europe are expected to offer lucrative growth opportunities in the coming years with increasing demand for environmentally friendly technology-based thermal management systems. Companies operating in the market focus on strengthening their geographic presence and manufacturing capabilities to gain competitive advantage. Strict guidelines and environmental regulations have led to a constant upgrade of the existing systems.

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Country analysis for North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific ) and LAMEA (Latin America, Middle East and Africa) is given in the report.

David Correa
Allied Analytics LLP
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