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
[244 Pages Report] Estimated at USD 49.3 billion in 2019, the thermal system market for automotive size is projected to reach USD 64.6 billion by 2027, growing at a CAGR of 3.4% during the forecast period. Growing focus on fuel efficiency, driver comfort, increasing demand for electric vehicles globally and stringency in emission norms to cut down vehicular emissions will drive the demand for thermal system market for automotive.
Asia Pacific and Europe are the regions where the thermal system market for automotive is experiencing the highest growth rate due to increasing government regulations on emission norms, allocations of funds by the respective governmnets for incentivizing sales of electric vehicles and increase in demand for driver comfort features in luxury vehicles. Furthermore, continuous R&D and collaborations among automotive companies in these regions is expected to stimulate the market growth.
Waste Heat Recovery is expected to grow at the fastest CAGR
By application, waste heat recovery segment is estimated to be the highest growing segment for automotive thermal system market in the forcast period owing to the strict emission regulations globally. Currently, the penetration of waste heat recovery system is significant on heavy commercial vehicles. The high emission of CO2 associated with automobiles raises serious concerns about environmental sustainability. According to the International Energy Agency, the number of vehicles in the world will double by 2040. New regulations are being imposed by the governments to reduce greenhouse emissions from automobiles. This has compelled companies to develop innovative solutions that will help to address the current issues. The automotive industry is developing cost-efficient methods to utilize waste heat and reduce greenhouse gas emissions. For instance, Ford is developing thermoelectric waste heat recovery systems that promise 3-5 percent improvements in fuel economy. This has boosted the global demand for waste heat recovery system for ICE and hybrid vehicles.
Thermoelectric Generator (TEG) is expected to grow at the fastest CAGR
TEG is expected to grow at the fastest CAGR in the forecast period. Due to growing environmental concerns, the need to improve the efficiency of vehicles is growing. Thermoelectric generators play an essential role in increasing efficiency by utilizing waste heat. Thermoelectric generators have a great potential to reduce fuel consumption by converting waste heat into a usable form, which can be used for running auxiliaries and other automotive systems such as air conditioning system, infotainment system and lightings. Also, it has usage in advanced thermal system applications such as heated/ventilated seats and heated steering . The demand for technological and material advancement in thermal system solutions will increase the usage of TEG in future.
The Asia Pacific market is expected to register the fastest growth during the forecast period
Government incentives to popularize electric vehicles, implementation of emission norms such as China VI, BS VI in China and India respectively are making the Asia Pacific market attractive for thermal systems. The growing vehicle production in the Asia-Pacific region, with India and China emerging as automotive part manufacturing hubs for the suppliers, is expected to drive the market for the thermal system in this region. Also, with increasing sales of electric and hybrid vehicles in the region, the demand for high performance and lightweight thermal system is likely to grow with the production of electric vehicles during the forecast period. Thus, to capture the growing demand in the market, companies in the region have started developing and extending their business operations. For instance, in May, 2019, Hanon Systems announced the opening of Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd. and it involves a direct partnership of two subsidiary companies of China South Industries Group Corporation (CSGC). Future plans for the operation include the manufacturing of heating ventilation and air conditioning (HVAC) modules and powertrain cooling components.
Key Market Players
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) and BorgWarner (USA).These companies have strong distribution networks at a global level and offer an extensive product range. These companies adopt strategies, such as new product developments, collaborations, and contracts & agreements to sustain their market position.
Scope of the Report:
|
Report Metric |
Details |
|
Market size available for years |
20172027 |
|
Base year considered |
2018 |
|
Forecast period |
20192027 |
|
Forecast units |
Volume (Thousand Units) & Value (USD Billion) |
|
Segments covered |
By ICE vehicle based application, vehicle type, electric & hybrid vehicle based application, electric & hybrid vehicle type, technology (ICE), components and region |
|
Geographies covered |
Asia Pacific, North America, Europe and Rest of the World |
|
Companies covered |
Denso Corporation (Japan), Hanon Systems (South Korea), MAHLE GmbH (Germany), Valeo (France) and BorgWarner (USA). |
This research report categorizes the given market based on ICE vehicle based application, vehicle type, electric & hybrid vehicle based application, electric & hybrid vehicle type, technology (ICE), components and region.
Based on the Application (ICE), the market has been segmented as follows:
- Engine Cooling
- Front Air Conditioning
- Rear Air Conditioning
- Transmission System
- Heated/Ventilated Seats
- Heated Steering
- Waste Heat Recovery
Based on the Vehicle Type (ICE), the market has been segmented as follows:
- Passenger Cars
- LCV
- Truck
- Bus
Based on Electric & Hybrid Vehicle Application, the market has been segmented as follows:
- Battery Thermal System
- Transmission System
- Engine Cooling
- Front Air Conditioning
- Motor Thermal System
- Power Electronics
- Rear Air Conditioning
- Heated/Ventilated Seats
- Heated Steering
- Waste Heat Recovery
Based on Electric & Hybrid Vehicle Type, the market has been segmented as follows:
- BEV
- HEV
- PHEV
- FCEV
- Mild Hybrid
Based on Technology, the market has been segmented as follows:
- Active Transmission Warm Up
- Exhaust Gas Recirculation
- Engine Thermal Mass Reduction
- Reduced Hvac System Loading
- Other Technologies
Based on Components, the market has been segmented as follows:
- Air Filter
- Condenser
- Compressor
- Water-Pump
- Motor
- Heat Exchanger
- Heater Control Unit
- Thermoelectric Generator
- Electric Compressor
- Electric Water Pump
- Electric Motor
Based on the region, the market has been segmented as follows:
- Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Rest of Asia-Pacific
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Rest of the World
- Brazil
- Argentina
- Iran
- Rest of RoW
Recent Developments
- In December 2019, DENSO added 121 original equipment (OE) quality part numbers to its thermal management range. It consists of 39 radiators, 76 condensers and six cabin blowers, which are linked to 342 OE numbers and cover an additional 2,300 vehicles. These latest references illustrate the availability and variety in vehicle parc that DENSO boasts.
- In August 2019, Hanon Systems announced that the company is expanding its operation in Central Mexico to support its growing business with automakers in the region. Located in the State of Querιtaro, the manufacturing facility operates under the legal name Climate Systems Mexicana, S.A. de C.V. The expanded business will increase its ability to support automakers by adding powertrain cooling and fluid transport products to its production. The new site is outfitted with state-of-the-equipment and a fully optimized layout to drive operational efficiency.
- In August 2019, MAHLE developed a new battery housing concept with integrated thermal management designed to increase rapid charging capability and vehicle range. MAHLE claims the new housing allows manufacturers to use batteries that are about 40% smaller, which not only reduces the CO2 footprint of the EV, but also lowers the demand for raw battery materials.
Critical Questions:
- Many companies are operating in the thermal system market space across the globe. Do you know who are the front leaders, and what strategies have been adopted by them?
- Fast-paced developments in applications of thermal system such as heated/ventilated seats, heated steering, waste heat recovery and battery thermal management for electric vehicles offered by leading providers are expected to change the dynamics of thermal system market. How will this transform the overall market?
- Which leading companies are working on the thermal system market and what organic and inorganic strategies have they adopted?
- Analysis of your competition that includes major players in the thermal system ecosystem. The major players include Denso Corporation (Japan), Hanon Systems (South Korea), MAHLE GmbH (Germany), Valeo (France) and BorgWarner (USA) among others.
- Discussion on your clients imperatives based on our existing research on thermal system market for automotive and its ecosystems.
Frequently Asked Questions (FAQ):
Which applications are included in the thermal system market?
The study includes key applications such as Front & Rear AC, Engine & Transmission, Seat, Steering, Battery, Motor, Power Electronics, and Waste Heat Recovery.
What is the market size of the automotive thermal system market?
The global automotive thermal system market size is estimated to be USD 49.3 billion in 2019 and is projected to reach USD 64.6 billion by 2027, growing at a CAGR of 3.4% during the forecast period.
Who are the key players in the automotive thermal system market?
The automotive thermal system market is led by globally established players such as Denso Corporation (Japan), Hanon Systems (South Korea), MAHLE GmbH (Germany), Valeo (France), and BorgWarner (USA).
Which thermal systems would have the most potential in the near future?
Thermoelectric Generators (TEG) are expected to showcase the highest demand in the near future. These generators can help improve fuel consumption by converting waste heat into a usable form, which can be used for running auxiliaries and other automotive systems such as air conditioning systems, infotainment systems, and lighting.
What is the impact of electric vehicles on thermal system suppliers?
An increase in the demand for electric vehicles is set to create a revenue shift for thermal system suppliers. Battery thermal management, power electronics, and waste heat recovery are expected to be the key applications.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 25)
1.1 Objectives
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.4 Limitations
1.5 Stakeholders
2 Research Methodology (Page No. - 29)
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Secondary Sources for Vehicle Production and Electric Vehicle Sales
2.2.2 Key Secondary Sources for Market Sizing
2.2.3 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach: Thermal System Market for Automotive
2.4.2 Top-Down Approach: Thermal System Market for Automotive
2.5 Market Breakdown and Data Triangulation
2.6 Assumptions & Associated Risks
3 Executive Summary (Page No. - 41)
4 Premium Insights (Page No. - 45)
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 (Page No. - 52)
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 (20182027)
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) (Page No. - 65)
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 Trasnmission 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 (Page No. - 76)
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 (Page No. - 85)
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 (Page No. - 93)
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 Efficent 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 Luxuary 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/Vantilated 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 (Page No. - 107)
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 Adfvantage 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 (Page No. - 119)
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 Tecnology 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 (Page No. - 138)
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions/Limitations
12.1.3 Industry Insights
12.2 Asia Pacific
12.2.1 Asia Pacific Vehicle Production Data
12.2.2 China
12.2.2.1 Booming Passenger Vehicle Demand Will Drive the Chinese Market
12.2.2.2 China Vehicle Production Data
12.2.3 India
12.2.3.1 Growth in Vehicle Sales and Demand for Comfort Features Will Drive the Indian Market
12.2.3.2 India Vehicle Production Data
12.2.4 Japan
12.2.4.1 Advanced Technology Features in Cabin Comfort Will Drive the Japanese Market
12.2.4.2 Japan Vehicle Production Data
12.2.5 South Korea
12.2.5.1 Demand for Luxury Cars Will Drive the South Korean Market
12.2.5.2 South Korea Vehicle Production Data
12.2.6 Thailand
12.2.6.1 Growing Demand for Automotive Components Will Drive the Thai Market
12.2.6.2 Thailand Vehicle Production Data
12.2.7 Rest of Asia Pacific
12.2.7.1 Growing Demand for Vehicles Will Drive the Rest of Asia Pacific Market
12.2.7.2 Rest of Asia Pacific Vehicle Production Data
12.3 Europe
12.3.1 Europe Vehicle Production Data
12.3.2 Germany
12.3.2.1 High Demand for Premium Cars Will Drive the German Market
12.3.2.2 Germany Vehicle Production Data
12.3.3 France
12.3.3.1 Production of Mild Hybrid Vehicles and Demand for Advanced Comfort Features Will Drive the French Market
12.3.3.2 France Vehicle Production Data
12.3.4 UK
12.3.4.1 Strict Emission Norms Will Drive the UK Market
12.3.4.2 UK Vehicle Production Data
12.3.5 Spain
12.3.5.1 Huge Demand for Automotive Components Will Drive the Spanish Market
12.3.5.2 Spain Vehicle Production Data
12.3.6 Italy
12.3.6.1 Presence of Premium Vehicle Manufacturers Will Drive the Italian Market
12.3.6.2 Italy Vehicle Production Data
12.3.7 Russia
12.3.7.1 Increasing Sales of Passenger Cars Will Drive the Russian Market
12.3.7.2 Russia Vehicle Production Data
12.3.8 Rest of Europe
12.3.8.1 Stringent Emission Norms and Growing Economy Will Drive the Rest of Europe Market
12.3.8.2 Rest of Europe Vehicle Production Data
12.4 North America
12.4.1 North America Pacific Vehicle Production Data
12.4.2 US
12.4.2.1 High Demand for Green Vehicles and Advanced Features in Luxury Vehicles Will Drive the US Market
12.4.2.2 US Vehicle Production Data
12.4.3 Canada
12.4.3.1 Government Policies and Regulation Standards to Support Ev Growth Will Drive the Canadian Market
12.4.3.2 Canada Vehicle Production Data
12.4.4 Mexico
12.4.4.1 Advanced Technologies Regarding Thermal System Solutions are Estimated to Drive the Mexican Market
12.4.4.2 Mexico Vehicle Production Data
12.5 Row
12.5.1 RoW Vehicle Production Data
12.5.2 Brazil
12.5.2.1 Presence of Major Automotive Companies Will Drive the Brazilian Market
12.5.2.2 Brazil Vehicle Production Data
12.5.3 Argentina
12.5.3.1 Emission Policies for Electric Cars Will Drive the Argentinian Market
12.5.3.2 Argentina Vehicle Production Data
12.5.4 Iran
12.5.4.1 Heavy Investments in Automotive Sector Will Drive the Iranian Market
12.5.4.2 Iran Vehicle Production Data
12.5.5 Rest of RoW
12.5.5.1 New Emission Regulations Will Drive the Rest of RoW Market
12.5.5.2 Rest of RoW Vehicle Production Data
13 Competitive Landscape (Page No. - 180)
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, 20172019
13.4.3 Partnerships/Contracts, 20172019
14 Company Profiles (Page No. - 196)
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 Eberspδcher
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 By Marketsandmarkets (Page No. - 231)
15.1 Asia Pacific Will Be the Major Market for Thermal System
15.2 Electric & Hybrid Vehicle Thermal System Applications Can Be A Key Focus for Manufacturers
15.3 Conclusion
16 Appendix (Page No. - 233)
16.1 Package Size
16.2 Currency & Pricing
16.3 Key Insights of Industry Experts
16.4 Discussion Guide
16.5 Knowledge Store: Marketsandmarkets Subscription Portal
16.6 Available Customizations
16.6.1 Electric & Hybrid Thermal System Market, By Application Country Wise Data
16.6.1.1 Battery Thermal System
16.6.1.2 Transmission System
16.6.1.3 Engine Cooling
16.6.1.4 Front Air Conditioning
16.6.1.5 Motor Thermal System
16.6.1.6 Power Electronics
16.6.1.7 Rear Air Conditioning
16.6.1.8 Heated/Ventilated Seats
16.6.1.9 Heated Steering
16.6.1.10 Waste Heat Recovery
16.6.2 Electric & Hybrid Thermal System Market, By Vehicle Type Country Wise Data
16.6.2.1 BEV
16.6.2.2 PHEV
16.6.2.3 HEV
16.6.2.4 FCEV
16.6.2.5 Mild Hybrid
16.7 Related Reports
16.8 Author Details
List of Tables (196 Tables)
Table 1 Assumptions, Associated Risks, and Impact
Table 2 Emission Norms Specifications in Key Countries for Passenger Cars
Table 3 Advanced Thermal System Technology Offered By Key Oems
Table 4 Economic Comparison of Over 60 Thermal System Technologies: Value vs. Cost of Co2 Reduction
Table 5 Adoption Rate of Thermal System in Passenger Cars in Key Countries
Table 6 Thermal System Market for Automotive (Most Likely), By Region, 20172027 (USD Million)
Table 7 Thermal System Market for Automotive (Optimistic), By Region, 20172027 (USD Million)
Table 8 Thermal System Market for Automotive (Pessimistic), By Region, 20172027 (USD Million)
Table 9 Thermal System Market for Automotive, By Application (ICE), 20172027 (000 Units)
Table 10 Thermal System Market for Automotive, By Application (ICE), 20172027 (USD Million)
Table 11 Engine Cooling: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 12 Engine Cooling: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 13 Front Air Conditioning: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 14 Front Air Conditioning: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 15 Rear Air Conditioning: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 16 Rear Air Conditioning: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 17 Transmission System: Thermal System Market for Automotive, By Region, 20172017 (000 Units)
Table 18 Transmission System: Thermal System Market for Automotive, By Region, 20172017 (USD Million)
Table 19 Heated/Ventilated Seats: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 20 Heated/Ventilated Seats: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 21 Heated Steering: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 22 Heated Steering: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 23 Waste Heat Recovery: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 24 Waste Heat Recovery: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 25 Thermal System Market for Automotive, By ICE Vehicle Type, 20172027 (000 Units)
Table 26 Thermal System Market for Automotive (ICE), By Vehicle Type, 20172027 (USD Million)
Table 27 Passenger Car: Thermal System Market, By Region, 20172027 (000 Units)
Table 28 Passenger Car: Thermal System Market, By Region, 20172027 (USD Million)
Table 29 Thermal System Market for Light Commercial Vehicle, By Region, 20172027 (000 Units)
Table 30 Thermal System Market for Light Commercial Vehicle, By Region, 20172027 (USD Million)
Table 31 Truck: Thermal System Market, By Region, 20172027 (000 Units)
Table 32 Truck: Thermal System Market, By Region, 20172027 (USD Million)
Table 33 Bus: Thermal System Market, By Region, 20172027 (000 Units)
Table 34 Bus: Thermal System Market, By Region, 20172027 (USD Million)
Table 35 Thermal System Market for Automotive (ICE), By Technology, 20172027 (Ooo Units)
Table 36 Active Transmission Warm Up: Thermal System Market for Automotive, By Region, 20172027 (Ooo Units)
Table 37 EGR: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 38 Engine Thermal Mass Reduction: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 39 Reduced Hvac System Loading: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 40 Others: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 41 Electric & Hybrid Thermal System Market, By Application, 20172027 (000 Units)
Table 42 Electric & Hybrid Thermal System Market, By Application, 20172027 (USD Million)
Table 43 Battery Thermal Management: Electric & Hybrid Thermal System Market, By Region, 20172027 (000 Units)
Table 44 Battery Thermal Management: Electric & Hybrid Thermal System Market, By Region, 20172027 (USD Million)
Table 45 Transmission System: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 46 Transmission System: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 47 Engine Cooling: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 48 Engine Cooling: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 49 Front Air Conditioning: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 50 Front Air Conditioning: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 51 Motor Thermal Management: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 52 Motor Thermal Management: Electric & Hybrid Vehicle Thermal System Market, 20172027 (USD Million)
Table 53 Power Electronics: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 54 Power Electronics: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 55 Rear Air Conditioning: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 56 Rear Air Conditioning: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 57 Heated/Ventilated Seats: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 58 Heated/Ventilated Seats: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 59 Heated Steering: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 60 Heated Steering: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 61 Waste Heat Recovery: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 62 Waste Heat Recovery: Electric & Hybrid Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 63 Thermal System Market for Automotive, By Electric Vehicle Type, 20172027 (000 Units)
Table 64 Thermal System Market for Automotive, By Electric Vehicle Type, 20172027 (USD Million)
Table 65 Top Selling BEV Models & Thermal System Applications, 2019
Table 66 BEV: Thermal System Market, By Region, 20172027 (000 Units)
Table 67 BEV: Thermal System Market, By Region, 20172027 (USD Million)
Table 68 Top Selling HEV Models & Thermal System Applications, 2019
Table 69 HEV: Thermal System Market, By Region, 20172027 (000 Units)
Table 70 HEV: Thermal System Market, By Region, 20172027 (USD Million)
Table 71 Top Selling PHEV Models & Thermal System Applications, 2017
Table 72 PHEV: Thermal System Market, By Region, 20172027 (000 Units)
Table 73 PHEV: Thermal System Market, By Region, 20172027 (USD Million)
Table 74 Top Selling FCEV Models & Thermal System Applications, 2019
Table 75 FCEV: Thermal System Market, By Region, 20172027 (000 Units)
Table 76 FCEV: Thermal System Market, By Region, 20172027 (USD Million)
Table 77 Top Selling 48v Mild Hybrid Models & Thermal System Applications, 2019
Table 78 Mild Hybrid (48v) Vehicle Thermal System Market, By Region, 20172027 (000 Units)
Table 79 Mild Hybrid (48v) Vehicle Thermal System Market, By Region, 20172027 (USD Million)
Table 80 Thermal System Market for Automotive, By Component, 20172027 (000 Units)
Table 81 Thermal System Market for Automotive, By Component, 20172027 (USD Million)
Table 82 Air Filter: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 83 Air Filter: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 84 Condenser: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 85 Condenser: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 86 Compressor: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 87 Compressor: Thermal System Market for Automotive, By Region, 20172027 (USD Billion)
Table 88 Water Pump: Thermal System Market, By Region, 20172027 (000 Units)
Table 89 Water Pump: Thermal System Market, By Region, 20172027 (USD Million)
Table 90 Motor: Thermal System Market, By Region, 20172027 (000 Units)
Table 91 Motor: Thermal System Market, By Region, 20172027 (USD Million)
Table 92 Heat Exchanger: Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 93 Heat Exchanger: Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 94 Heater Control Unit: Thermal System Market for Automotive, By Region, 20172017 (000 Units)
Table 95 Heater Control Unit: Thermal System Market for Automotive, By Region, 20172017 (USD Million)
Table 96 Thermoelectric Generator: Thermal System Market for Automotive, By Region, 20172017 (000 Units)
Table 97 Thermoelectric Generator: Thermal System Market for Automotive, By Region, 20172017 (USD Million)
Table 98 Electric Compressor: Thermal System Market for Automotive, By Region, 20172017 (000 Units)
Table 99 Electric Compressor: Thermal System Market for Automotive, By Region, 20172017 (USD Million)
Table 100 Electric Water Pump: Thermal System Market for Automotive, By Region, 20172017 (000 Units)
Table 101 Electric Water Pump: Thermal System Market for Automotive, By Region, 20172017 (USD Million)
Table 102 Electric Motor: Thermal System Market for Automotive, By Region, 20172017 (000 Units)
Table 103 Electric Motor: Thermal System Market for Automotive, By Region, 20172017 (USD Million)
Table 104 Thermal System Market for Automotive, By Region, 20172027 (000 Units)
Table 105 Thermal System Market for Automotive, By Region, 20172027 (USD Million)
Table 106 Sia Pacific Vehicle Production 20142017 (000 Units)
Table 107 Asia Pacific: Thermal System Market for Automotive, By Country, 20172027 (000 Units)
Table 108 Asia Pacific: Thermal System Market for Automotive, By Country, 20172027 (USD Million)
Table 109 China Vehicle Production, 20142017 (000 Units)
Table 110 China: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 111 China Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 112 India: Vehicle Production, 20142017 (000 Units)
Table 113 India: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 114 India: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 115 Japan Vehicle Production, 20142017 (000 Units)
Table 116 Japan: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 117 Japan: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 118 South Korea Vehicle Production, 20142017 (000 Units)
Table 119 South Korea: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 120 South Korea: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 121 Thailand Vehicle Production, 20142017 (000 Units)
Table 122 Thailand: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 123 Thailand: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 124 Rest of Asia Pacific Vehicle Production, 20142017 (000 Units)
Table 125 Rest of Asia Pacific: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 126 Rest of Asia Pacific: Thermal System Market for Automtoive , By Application, 20172027 (USD Million)
Table 127 Europe Vehicle Production, 20142017 (000 Units)
Table 128 Europe: Thermal System Market for Automotive, By Country, 20172027 (000 Units)
Table 129 Europe: Thermal System Market for Automotive, By Country, 20172027 (USD Million)
Table 130 Germany Vehicle Production, 20142017 (000 Units)
Table 131 Germany: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 132 Germany: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 133 France Vehicle Production, 20142017 (000 Units)
Table 134 France: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 135 France: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 136 UK Vehicle Production, 20142017 (000 Units)
Table 137 UK: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 138 UK: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 139 Spain Vehicle Production, 20142017 (000 Units)
Table 140 Spain: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 141 Spain: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 142 Italy Vehicle Production, 20142017 (000 Units)
Table 143 Italy: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 144 Italy: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 145 Russia: Vehicle Production, 20142017 (000 Units)
Table 146 Russia: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 147 Russia: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 148 Rest of Europe Vehicle Production, 20142017 (000 Units)
Table 149 Rest of Europe: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 150 Rest of Europe: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 151 North America Vehicle Production, 20142017 (000 Units)
Table 152 North America: Thermal System Market for Automotive, By Country, 20172027 (000 Units)
Table 153 North America: Thermal System Market for Automotive, By Country, 20172027 (USD Million)
Table 154 US Vehicle Production, 20142017 (000 Units)
Table 155 US: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 156 US: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 157 Canada Vehicle Production, 20142017 (000 Units)
Table 158 Canada: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 159 Canada: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 160 Mexico Vehicle Production, 20142017 (000 Units)
Table 161 Mexico: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 162 Mexico: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 163 RoW Vehicle Production 20142017 (000 Units)
Table 164 RoW: Thermal System Market for Automotive, By Country, 20172027 (000 Units)
Table 165 RoW: Thermal System Market for Automotive, By Country, 20172027 (USD Million)
Table 166 Brazil Vehicle Production, 20142017 (000 Units)
Table 167 Brazil: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 168 Brazil: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 169 Argentina Vehicle Production, 20142017 (000 Units)
Table 170 Argentina: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 171 Argentina: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 172 Iran Vehicle Production, 20142017 (000 Units)
Table 173 Iran: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 174 Iran: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 175 Rest of RoW Vehicle Production, 20142017 (000 Units)
Table 176 Rest of RoW: Thermal System Market for Automtoive, By Application, 20172027 (000 Units)
Table 177 Rest of RoW: Thermal System Market for Automtoive, By Application, 20172027 (USD Million)
Table 178 New Product Developments/Launches, 20172019
Table 179 Expansion, 2018
Table 180 Partnerships/Contracts/Strategic Cooperation, 20172019
Table 181 Denso Corporation: Organic Developments (New Product Developments/ Expansions)
Table 182 Mahle GmbH: Organic Developments (New Product Developments/ Expansions)
Table 183 Mahle GmbH: Inorganic Developments
Table 184 Valeo: Organic Developments (New Product Developments/ Expansions)
Table 185 Valeo: Inorganic Developments
Table 186 Hanon Systems: Organic Developments (New Product Developments/ Expansions)
Table 187 Hanon Systems: Inorganic Developments
Table 188 Borgwarner Inc.: Organic Developments (New Product Developments/ Expansions)
Table 189 Borgwarner Inc.: Inorganic Developments
Table 190 Gentherm: Inorganic Developments
Table 191 Schaeffler AG: Organic Developments (New Product Developments/ Expansions)
Table 192 Johnson Electric Holdings Ltd.: Organic Developments (New Product Developments/Expansions)
Table 193 Dana Limited: Organic Developments (New Product Developments/ Expansions)
Table 194 Dana Limited: Inorganic Developments
Table 195 Robert Bosch GmbH: Organic Developments (New Product Developments/ Expansions)
Table 196 Currency Exchange Rates (Wrt Per USD)
List of Figures (44 Figures)
Figure 1 Thermal System Market for Automotive: Market Segmentation
Figure 2 Thermal System Market for Automotive: Research Design
Figure 3 Research Design Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Data Triangulation
Figure 6 Thermal System for Automotive: Market Outlook
Figure 7 Thermal System Market for Automotive, By Application (ICE), 2019 vs. 2027 (USD Million)
Figure 8 Stringent Emission Norms and Rising Demand for Electric Vehicles are Expected to Drive the Thermal System Market for Automotive During the Forecast Period
Figure 9 Asia Pacific is Expected to Dominate the Thermal System Market for Automotive
Figure 10 Front Air Conditioning Segment to Hold the Largest Market By 2027
Figure 11 Passenger Car is Projected to Hold the Largest Market By 2027
Figure 12 Waste Heat Recovery Segment to Grow at the Highest CAGR During the Forecast Period
Figure 13 BEV to Hold the Largest Market During the Forecast Period
Figure 14 EGR to Hold the Largest Market During the Forecast Period
Figure 15 Heat Exchanger to Hold the Largest Market During the Forecast Period
Figure 16 Thermal System for Automotive: Market Dynamics
Figure 17 Luxury Car Sales, 2019 vs. 2027
Figure 18 Electric and Hybrid Vehicle Forecast From 2019 to 2030
Figure 19 Thermal System Market for Automotive, By Application (ICE), 2019 vs. 2027 (USD Million)
Figure 20 Thermal System Market for Automotive, By ICE Vehicle Type, 2019 vs. 2027 (USD Million)
Figure 21 Thermal System Market for Automotive (ICE), By Technology, 2019 vs. 2027 (000 Units)
Figure 22 Electric & Hybrid Vehicle Thermal System Market, By Application, 2019 vs. 2027 (USD Million)
Figure 23 Thermal System Market for Automotive, By Electric Vehicle Type, 2019 vs. 2027 (USD Million)
Figure 24 Thermal System Market for Automotive, By Component, 2019 vs. 2027 (USD Million)
Figure 25 Thermal System Market for Automotive, By Region, 20192027 (USD Million)
Figure 26 Asia Pacific Thermal System Market Snapshot
Figure 27 Europe Thermal System Market Snapshot
Figure 28 North America: Thermal System Market for Automotive (ICE) Snapshot
Figure 29 RoW: Thermal System Market for Automotive, 20192027 (USD Million)
Figure 30 Thermal System Market for Automotive: Market Ranking Analysis, 2018
Figure 31 Thermal System Manufacturers for Automotive: Competitive Leadership Mapping, 2018
Figure 32 Thermal System Manufacturers for Automotive: Company-Wise Product Offering Analysis
Figure 33 Thermal System Manufacturers for Automotive: Company-Wise Business Strategy Analysis
Figure 34 Companies Adopted New Product Developments & Partnerships/ Agreements/Supply Contracts/Collaborations/Joint Ventures as the Key Growth Strategy, 20172019
Figure 35 Denso Corporation: Company Snapshot
Figure 36 Mahle GmbH: Company Snapshot
Figure 37 Valeo: Company Snapshot
Figure 38 Hanon Systems: Company Snapshot
Figure 39 Borgwarner Inc.: Company Snapshot
Figure 40 Gentherm: Company Snapshot
Figure 41 Schaeffler AG: Company Snapshot
Figure 42 Johnson Electric Holdings Ltd.: Company Snapshot
Figure 43 Dana Limited: Company Snapshot
Figure 44 Robert Bosch GmbH: Company Snapshot
The study involved four major activities in estimating the current size of the thermal system market for automotive. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up and top-down approach were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [such as publications of electric vehicle sales OEMs, EEA (European Energy Agency), IEA (International Energy Agency), ACEA (European Automobile Manufacturers Association), T&E( Transport and Environmnet), country-level automotive associations and trade organizations, and the US Department of Transportation (DOT)], thermal system related magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, and technical articles have been used to identify and collect information useful for an extensive commercial study of the thermal system market for automotive.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.
Primary interviews have been conducted to gather insights such as ICE vehicle and electric vehicle production/sales forecast, thermal system market forecast, future technology trends, and upcoming technologies in the thermal system industry. Data triangulation of all these points was done with the information gathered from secondary research as well as model mapping for various thermal system applications. Stakeholders from demand as well as supply side have been interviewed to understand their views on the aforementioned points.
Primary interviews have been conducted with market experts from both the demand- (OEMs) and supply-side (thermal system integrators and components providers) players across four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World. Approximately 20% and 80% of primary interviews have been conducted from the demand and supply sides, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales and operations, to provide a holistic viewpoint in our report.
After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts opinions, has led us to the findings as described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the total market size. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The industrys supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with the companys specific needs.
Electric & Hybrid Thermal System MARKET, By Application Country Wise Data
- Battery Thermal System
- Transmission system
- Engine Cooling
- Front Air Conditioning
- Motor Thermal System
- Power Electronics
- Rear Air Conditioning
- Heated/Ventilated Seats
- Heated Steering
- Waste Heat Recovery
Note: North America (US, Canada and Mexico), Europe (France, Germany, Spain, Italy, UK, Russia and Rest of Europe), Asia Pacific (China, India, South Korea, Thailand and Rest of Asia Pacific) and RoW (Iran, Brazil, Argentina and Rest of RoW)
Electric & Hybrid Thermal System Market, By Vehicle Type Country Wise Data
- BEV
- PHEV
- HEV
- FCEV
- Mild Hybrid
Note: North America (US, Canada and Mexico), Europe (France, Germany, Spain, Italy, UK, Russia and Rest of Europe), Asia Pacific (China, India, South Korea, Thailand and Rest of Asia Pacifi), and RoW (Iran, Brazil, Argentina and Rest of RoW)
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