The Automotive Thermal System Global Market Report 2023, provides comprehensive information on the automotive thermal system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Automotive Thermal System Global Market Report 2023, the market is expected to grow from $38.53 billion in 2022 to $40.87 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the automotive thermal systems market is expected to grow to $49.88 billion in 2027 at a CAGR of 5.1%.
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Development in automotive thermal systems is a key trend gaining popularity in the automotive thermal systems market. Research and developments are being made to develop innovative thermal systems for the automotive industry. Major companies operating in the automotive thermal systems market are focused on developing new technological solutions to strengthen their position. For instance, in December 2020, InnoTherMS, a Franco-German research project, developed an innovative thermal management system for electric vehicles that aims to label the current challenges of limiting the vehicles’ energy consumption with a centralized, virtual, predictive, and intelligent thermal management tool based on simulation software for the cooling cycle integrating the thermal storage system.
The automotive thermal system market is segmented:
1) By Component: Compressor, HVAC, Powertrain Cooling, Fluid Transport
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Other Vehicle Types
3) By Application: Front and Rear A/c, Engine and Transmission, Seat, Battery, Motor, Waste Heat Recovery, Power Electronics
Asia-Pacific was the largest region in the automotive thermal system market in 2022.
The table of contents in TBRC’s automotive thermal system market report includes:
- Executive Summary
- Automotive Thermal System Market Characteristics
- Automotive Thermal System Market Trends And Strategies
- Automotive Thermal System Market – Macro Economic Scenario
- Automotive Thermal System Market Size And Growth
…..
- Africa Automotive Thermal System Market
- Automotive Thermal System Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Automotive Thermal System Market
- Automotive Thermal System Market Future Outlook and Potential Analysis
- Appendix
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