Transparency Market Research has published a report that presents insights into factors that drive and restrain the global automotive thermal system market.
Compiled with the intent of providing a comprehensive overview of the
market, the report studies the prevailing market dynamics and provides
refined growth forecasts. Based on in-depth surveys, the report pegs the
value of the global automotive thermal system market at US$32.2 bn in
2013. Rising at a positive CAGR of 6.0% between 2014 and 2020, the
market is expected to reach US$48.5 bn by 2020. The report is titled
“Automotive Thermal System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” and is available on the company website for sale.
With the rapid expansion of the
automotive industry, demand for automotive thermal systems is
anticipated to rise. As vehicles become more sophisticated, deploying
advanced automotive heating and ventilation systems becomes increasingly
important. Impelled by the growing demand for advanced heating,
ventilation, and air conditioning (HVAC) systems, the market for
automotive thermal systems is likely to exhibit robust growth during the
report’s forecast period. Despite witnessing a growing demand, the high
cost of installations inhibits the global automotive thermal systems
market to an extent. Furthermore, higher cost of advanced and improved
technology also comprises a challenge in front of the market.
For the purpose of the study, the report
segments the global automotive thermal system market into HVAC systems,
compressors, fluid transport, and powertrain cooling. Of these, the HVAC
systems segment led the market, accounting for a share of 54.64% in
2014. Stringent emission norms and pollution guidelines implemented
across major economies worldwide are further fuelling demand for HVAC
systems, thereby giving impetus to the global market for automotive
thermal systems. Escalating demand for thermal systems running on
alternative fuels such as P-Series, ethanol, bio-alcohols, and liquid
hydrogen propane fuels, according to the report, will boost the market
during the forecast period.
Regionally, Asia Pacific led the market,
accounting for 34.40% of the global automotive thermal systems market in
2014. China and India have emerged as the two most lucrative markets
for the automotive industry in Asia Pacific. The demand for air
conditioning systems for vehicles is very high in Asia Pacific. The HVAC
systems segment also witnesses increasing demand from the region. As
the per capita income of customers in emerging economies of Asia Pacific
increases, the demand for automotive thermal systems will also rise due
to the increasing ability of car buyers to spend on luxuries.
The report presents a holistic overview
of the growth trajectory exhibited by the automotive thermal system
market globally. To present a 360-degree snapshot of the market, the
report also studies the prevailing vendor landscape. Prominent companies
profiled in the report include Denso Corporation, KG, Gentherm, Delphi
Automotive Plc, Behr GmbH & Co., Valeo, and Visteon Corp.
Download Report TOC for in-depth analysis @ https://www.transparencymarketresearch.com/report-toc/4400
