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Global Thermal Systems Market for Automotive, 2020-2027 - Advancements in Mobility Solutions, Increase in Demand for Electric Vehicles

DUBLIN, Feb. 7, 2020 /PRNewswire/ -- The "Thermal System Market for Automotive By Application (Front & Rear AC, Engine & Transmission, Seat, Steering, Battery, Motor, Power Electronics, Waste Heat Recovery), Technology, Electric & ICE Components, Vehicle Type and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

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The thermal system market for automotive is projected to reach USD 64.6 billion by 2027 from an estimated USD 49.3 billion in 2019 at a CAGR of 3.4% during the forecast period. All major players such as Denso, Hanon, Valeo, MAHLE and BorgWarner are working on advanced thermal system solution by showcasing their developments and business strategies in the thermal system market.

A decrease in emissions limits, demand for electric vehicles and advancement in comfort features is the significant factor for the growth of the thermal system market for automotive globally

There are various factors that are propelling the thermal system market for automotive. The major factor being the emission norms across all regions globally. For instance, the introduction of Euro VI, China VI, PROCONVE P8 has driven the electric vehicle market by pushing automakers to come up with advanced electrified powertrain technologies.

Also, demand for comfort features such as heated/ventilated seats and heated steering along with rear air conditioning is boosting the market for thermal system. However, the high cost of advanced thermal systems along with lack of standardization is expected to hinder market growth.

Passenger car segment is expected to remain the largest market in-vehicle type

The high production of passenger cars globally is making the segment largest market for thermal system. Factors such as increased population and rising purchasing power have increased the demand for passenger cars globally. Additionally, increase in penetration of advanced comfort features, stringent government regulations for vehicle emission and advancement in thermal system solutions is expected propel the market of passenger cars in future. Mild Hybrid is expected to grow with the highest CAGR in the electric & hybrid vehicle type market Mild Hybrid vehicle is estimated to be the fastest-growing market for the period 2019-2027.

The slowdown of diesel-powered vehicles and restrictions on CO2 targets has driven the mild hybrid market. According to Emission Analytics, the mass adoption of mild hybrids over low-take up-volumes of BEVs is an effective solution to cut down on emissions. Also, developments and drop in Lithium-ion battery prices boosting the demand for battery and motor thermal system which has ultimately increased the mild hybrid vehicle market. Easy integration of mild-hybrid powertrain into an existing ICE vehicle architecture is also driving the mild hybrid vehicle market.

The North America market is expected to register the fastest growth during the forecast period

The North America thermal system market is estimated to be the fastest-growing market. In North America, the US is estimated to be experiencing the highest CAGR owing to the rise in implementation of latest technologies in the automotive industry, a surge in the number of research & development activities and the existence of well-established industrial infrastructure in the region.

Due to increasing vehicle production in Mexico, it has also become one of the most promising economies in North America. For instance, Hanon Systems is expanding its operation in Central Mexico to support its growing business with automakers in the region. The expanded business will increase its ability to support automakers by adding powertrain cooling and fluid transport products to its production.

The thermal system market for automotive is led by globally established players such as:

  • Denso Corporation (Japan)
  • Hanon Systems (South Korea)
  • MAHLE GmbH (Germany)
  • Valeo (France)
  • BorgWarner (USA)

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

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

5 Market Overview
5.1 Introduction
5.2 Years Considered for the Study
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Stringency of Emission Regulation
5.3.1.2 Increasing Demand for Luxury and Comfort Features
5.3.2 Restraints
5.3.2.1 High Cost of Thermal System Technology
5.3.3 Opportunities
5.3.3.1 Advancements in Mobility Solutions
5.3.3.2 Increase in Demand for Electric Vehicles
5.3.4 Challenges
5.3.4.1 Lack of Standardization
5.3.4.2 Low Adoption of Advanced Thermal Systems in Developing Countries
5.4 Revenue Missed: Opportunities for Thermal System Manufacturers of Automotive
5.4.1 Revenue Shift Driving Market Growth
5.5 Thermal System Market for Automotive, Scenarios (2018-2027)
5.5.1 Thermal System Market for Automotive, Most Likely Scenario
5.5.2 Thermal System Market for Automotive, Optimistic Scenario
5.5.3 Thermal System Market for Automotive, Pessimistic Scenario

6 Thermal System Market for Automotive, By Application (ICE)
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions
6.1.3 Industry Insights
6.2 Engine Cooling
6.2.1 Engine Downsizing and Growing Demand for Low Emission Engines Will Boost the Market
6.3 Front Air Conditioning
6.3.1 Increasing Demand for Comfort and Advancements in Technology Will Upsurge the Front Air Conditioning Segment
6.4 Rear Air Conditioning
6.4.1 Rising Amount of Time Spent By People in Vehicles and Demand for Comfort Features is Driving the Rear Air Conditioning Segment
6.5 Transmission System
6.5.1 Growing Demand for Automatic Transmission in Developing Countries is Driving the Transmission System Segment
6.6 Heated/Ventilated Seats
6.6.1 Increasing Demand for Cabin Comfort Will Drive the Market for Heated/Ventilated Seats
6.7 Heated Steering
6.7.1 Growing Demand for Luxury Vehicles Will Drive the Heated Steering Market
6.8 Waste Heat Recovery
6.8.1 Emission Regulations and Increasing Demand for Hybrid Vehicles Will Boost the Waste Heat Recovery Market

7 Thermal System Market for Automotive, By ICE Vehicle Type
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Passenger Car
7.2.1 Demand for Fuel Efficient Passenger Cars Will Drive This Segment
7.3 Light Commercial Vehicle (LCV)
7.3.1 High Demand for LCVs in North America Will Drive the Market
7.4 Truck
7.4.1 Growth in Large Scale Industries, Logistics, and Construction in Asia Pacific Will Drive the Truck Market
7.5 Bus
7.5.1 High Dependence on Public Transport Will Drive the Market

8 Thermal System Market for Automotive (ICE), By Technology
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Active Transmission Warm-Up
8.2.1 Fuel Economy and Faster Transmission Technology Will Drive the Active Transmission Warm-Up Market
8.3 EGR
8.3.1 Increased Adoption of SCR Over EGR Systems Technology Will Slow Down the EGR Market
8.4 Engine Thermal Mass Reduction
8.4.1 Demand for Fuel-Efficient Vehicles Will Drive the Engine Thermal Mass Reduction Market
8.5 Reduced HVAC System Loading
8.5.1 Demand for Enhanced Cabin Comfront Will Drive the Reduced HVAC System Loading Market
8.6 Others
8.6.1 Performance Cars Will Drive the Thermal System Market for Other Technologies

9 Electric & Hybrid Vehicle Thermal System Market, By Application
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Battery Thermal Management
9.2.1 Government Policies for Electric Vehicles Will Boost the Demand for Battery Thermal Systems
9.3 Transmission System
9.3.1 Increased Demand for Automatic Transmission Will Drive the Market
9.4 Engine Cooling
9.4.1 Demand for Efficient Engines Will Drive the Engine Cooling Market
9.5 Front Air Conditioning
9.5.1 Demand for Comfort and Convenience Will Drive the Front Air Conditioning Market
9.6 Motor Thermal Management
9.6.1 Demand for Advanced Electric and Hybrid Powertrains Will Drive the Market
9.7 Power Electronics
9.7.1 Demand for Smart Hybrid and Electric Vehicles Will Fuel the Market
9.8 Rear Air Conditioning
9.8.1 Increased Demand for Luxury and Mid Segment Vehicles Will Boost the Rear Air Conditioning Market
9.9 Heated/Ventilated Seats
9.9.1 Demand for Cabin Comfort Features Will Drive the Market for Heated/Ventilated Seats
9.1 Heated Steering
9.10.1 Demand for Luxury Vehicles Will Upsurge the Heated Steering Market
9.11 Waste Heat Recovery
9.11.1 New Technologies for Waste Heat Recovery Will Drive the Market

10 Thermal System Market for Automotive, By Electric Vehicle Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Battery Electric Vehicle (BEV)
10.2.1 Government Subsidies and Investments in Charging Infrastructure Will Fuel the Demand for BEV Thermal Systems
10.3 Hybrid Electric Vehicle (HEV)
10.3.1 Demand for Fuel Efficient and Powerful Vehicles Will Drive HEV Thermal System Market
10.4 Plug-In Hybrid Electric Vehicle (PHEV)
10.4.1 Higher Range of Plug-In Hybrid Vehicles Will Drive the PHEV Thermal System Market
10.5 Fuel Cell Electric Vehicle (FCEV)
10.5.1 Advantage of Better Fuel Economy Will Drive the FCEV Thermal System Market
10.6 48v Mild Hybrid Vehicle
10.6.1 Emission Regulations Will Drive the 48v Mild Hybrid Thermal System Market

11 Thermal System Market for Automotive, By Component
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Air Filter
11.2.1 Market to Be Driven By Demand for Complex Flow Guidance Design, New Filter Element Concepts, and High-Performance Filters
11.3 Condenser
11.3.1 Manufacturers are Focusing on Providing Condensors That Reduces Power Consumption and Increases Fuel Efficiency
11.3.1.1 Air Conditioning Condenser
11.3.1.2 Waste Heat Recovery Condenser
11.3.1.3 Heated/Ventilated Seat and Steering Condenser
11.4 Compressor
11.4.1 Growing Trend of Advanced Comfort and Convenience Features to Drive the Compressor Market
11.4.1.1 Air Conditioning Compressor
11.4.1.2 Waste Heat Recovery Compressor
11.4.1.3 Heated/Ventilated Seat and Steering Compressor
11.5 Water Pump
11.5.1 Demand for Increasing Engine Efficiency is Estimated to Drive Water Pump Market
11.6 Motor
11.6.1 Modern Motors Provide Advantages in Terms of Robustness, Temperature Resistance, Electromagnetic Compatibility, Packaging, and Efficiency With Regard to Environmental Influences
11.6.1.1 Engine Cooling Motor
11.6.1.2 Air Conditioning Motor
11.7 Heat Exchanger
11.7.1 Increasing Demand for Electric & Hybrid Vehicles That Require Battery Thermal Management for Battery Cooling is Estimated to Drive the Market
11.7.1.1 Heat Exchanger for Engine Cooling and Transmission
11.7.1.2 Heat Exchanger for Air Conditioning System and Waste Heat Recovery
11.7.1.3 Heat Exchanger for Electric Vehicle Motor, Battery, and Power Electronics
11.8 Heater Control Unit
11.8.1 Increasing Demand for More Luxury and Comfort is Driving the Demand for Heat Control Units
11.9 Thermoelectric Generator
11.9.1 Growing Demand for Reduction in Fuel Consumption is Estimated to Drive the Thermoelectric Generator Market
11.1 Electric Compressor
11.10.1 Growing Demand for Environment-Friendly Technology and Optimal Passenger Comfort is Estimated to Drive the Electric Compressor Market
11.10.1.1 Air Conditioning Electric Compressor
11.10.1.2 Waste Heat Recovery Electric Compressor
11.10.1.3 Heated/Ventilated Seat and Steering Electric Compressor
11.11 Electric Water Pump
11.11.1 Growth of Electric & Hybrid Vehicles is Driving the Electric Water Pump Market
11.12 Electric Motor
11.12.1 Huge Investments in Electric and Hybrid Vehicles Will Drive the Electric Motor Market
11.12.1.1 Engine Cooling Electric Motor
11.12.1.2 Air Conditioning Electric Motor

12 Thermal System Market for Automotive, By Region
12.1 Introduction
12.2 Asia Pacific
12.3 Europe
12.4 North America
12.5 Row

13 Competitive Landscape
13.1 Overview
13.2 Market Ranking Analysis
13.3 Competitive Leadership Mapping
13.3.1 Terminology
13.3.2 Visionary Leaders
13.3.3 Innovators
13.3.4 Dynamic Differentiators
13.3.5 Emerging Companies
13.3.6 Strength of Product Portfolio
13.3.7 Business Strategy Excellence
13.3.8 Right to Win
13.4 Competitive Scenario
13.4.1 New Product Developments/Launches
13.4.2 Expansion, 2017-2019
13.4.3 Partnerships/Contracts, 2017-2019

14 Company Profiles
14.1 Denso Corporation
14.2 MAHLE GmbH
14.3 Valeo
14.4 Hanon Systems
14.5 Borgwarner Inc.
14.6 Gentherm
14.7 Schaeffler AG
14.8 Johnson Electric Holdings Ltd.
14.9 Dana Limited
14.10 Robert Bosch GmbH
14.11 Additional Companies
14.11.1 Europe
14.11.1.1 Eberspcher
14.11.1.2 Continental AG
14.11.1.3 Voss Automotive Inc.
14.11.1.4 Grayson Thermal Systems
14.11.2 North America
14.11.2.1 Captherm Systems
14.11.2.2 Dupont
14.11.2.3 Modine Manufacturing Company
14.11.2.4 Boyd Corporation
14.11.3 Asia Pacific
14.11.3.1 Sanden Holdings Corporation
14.11.3.2 Sanhua Automotive
14.11.3.3 Shandong Houfeng Group

15 Recommendations
15.1 Asia Pacific Will Be a Major Market for Thermal System
15.2 Electric & Hybrid Vehicle Thermal System Applications Can Be a Key Focus for Manufacturers
15.3 Conclusion

For more information about this report visit https://www.researchandmarkets.com/r/ni4cxy

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