Thermal System Market Report: Trends, Forecast and Competitive Analysis to 2030

Thermal System Market Report: Trends, Forecast and Competitive Analysis to 2030

Thermal System Trends and Forecast

The future of the global thermal system market looks promising with opportunities in the front and rear air conditioning, heated/ventilated seats, engine cooling, transmission system, heated steering, waste heat recovery markets. The global thermal system market is expected to reach an estimated $45.6 billion by 2030 with a CAGR of 2.5% from 2024 to 2030. The major drivers for this market are increasing adoption of electric vehicles and rising usage of this system in consumer electronics.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Thermal System by Segment

The study includes a forecast for the global thermal system by vehicle type, technology, application, and region.

Thermal System Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:

• ICE Vehicle
• Electric Vehicle

Thermal System Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Active Transmission Warm Up
• Engine Thermal Mass Reduction
• Reduced HVAC System Loading
• EGR
• Others

Thermal System Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Front and Rear Air Conditioning
• Heated/Ventilated Seats
• Engine Cooling
• Transmission System
• Heated Steering
• Waste Heat Recovery
• Others

Thermal System Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Thermal System Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies thermal system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the thermal system companies profiled in this report include-

• Denso
• MAHLE
• Hanon Systems
• Valeo
• BorgWarner

Thermal System Market Insights

Lucintel forecasts that electric is expected to witness the higher growth over the forecast period.

Within this market, front and rear air conditioning is expected to witness the highest growth over the forecast period.

APAC is expected to witness highest growth over the forecast period.

Features of the Global Thermal System Market

Market Size Estimates: Thermal system market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Thermal system market size by vehicle type, technology, application, and region in terms of value ($B).

Regional Analysis: Thermal system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different vehicle types, technologies, applications, and regions for the thermal system market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the thermal system market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the thermal system market size?

Answer: The global thermal system market is expected to reach an estimated $45.6 billion by 2030.

Q2. What is the growth forecast for thermal system market?

Answer: The global thermal system market is expected to grow with a CAGR of 2.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the thermal system market?

Answer: The major drivers for this market are increasing adoption of electric vehicles and rising usage of this system in consumer electronics.

Q4. What are the major segments for thermal system market?

Answer: The future of the thermal system market looks promising with opportunities in the front and rear air conditioning, heated/ventilated seats, engine cooling, transmission system, heated steering, waste heat recovery markets.

Q5. Who are the key thermal system market companies?

Answer: Some of the key thermal system companies are as follows:

• Denso
• MAHLE
• Hanon Systems
• Valeo
• BorgWarner

Q6. Which thermal system market segment will be the largest in future?

Answer: Lucintel forecasts that electric is expected to witness the higher growth over the forecast period.

Q7. In thermal system market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the thermal system market by vehicle type (ICE vehicle and electric vehicle), technology (active transmission warm up, engine thermal mass reduction, reduced HVAC system loading, EGR, and others), application (front and rear air conditioning, heated/ventilated seats, engine cooling, transmission system, heated steering, waste heat recovery, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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