1. HOME
2. Research Insight
3. Market Leader - Thermal System Market

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. The base year for the report is 2018, and the forecast period is from 2019 to 2027.

The market is expected to witness rapid growth due to stringency in emission norms globally pushing automakers to come up with electrified powertrain technologies. The growing production of passenger cars is also supporting the automotive thermal system market growth. With the increased focus on driver comfort, growing usage of advanced thermal systems in vehicles, production of passenger cars, and growing sales of electric vehicles, the market is likely to propel in the forecast period.

The thermal system market for automotive is dominated by globally established players such Denso Corporation (Japan), Hanon Systems (South Korea), MAHLE GmbH (Germany), Valeo (France) and BorgWarner (USA) among others. These companies focus on developing new products, adopt expansion strategies and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in this growing thermal system market for automotive.

To know about the assumptions considered for the study download the pdf brochure

Denso Corporation is one of the leading global players in the thermal system market for automotive. The company provides thermal system for passenger cars and provide thermal management in thermal control and heat/cool generation segments. The company is focusing towards partnership, collaboration and new product development for the thermal system solutions. For instance, DENSO has 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.

Hanon Systems is another leading player in this market, followed by MAHLE GmbH and Valeo. Hanon Systems focuses on building solutions and expansion in the automotive thermal system market. For instance, Hanon Systems has expanded its operation in Central Mexico to support its growing business with automakers in the region. Located in the State of Querétaro, 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.

MAHLE GmbH develops thermal management system products such as air conditioning, air management and cooling systems. MAHLE is developing a modular fuel cell systems portfolio focused on commercial vehicles, based on its current range of components. The addition of modular fuel cells in its portfolio with air and thermal management as well as filtration will reduce technological barriers and improve the suitability of vehicles with fuel cell drives for the mass market.

Valeo is one of the key players in the thermal system with an innovative product offering. The company has developed various products in 2018-2019 for thermal system solutions. For instance, Valeo has launched a CO2 heat pump for cooling and heating buses at Busworld Europe 2017 in Kortrijk, Belgium. The system is a modular, reversible, environmentally friendly heat pump that heats, cools and demists electric vehicle cabins.

Moreover, BorgWarner Inc. provides thermal systems such as coolant pumps, fan drives and fan. Also, the company is working towards thermal system solutions for electric vehicle. For instance, BorgWarner is proving its electrification expertise with the development of its corporate advanced engineering (CAE) group’s first high-voltage, all electric demonstration vehicle. The technologies highlighted on the vehicle include traction inverters, torque-vectoring rear drive unit, an electric coolant pump, vehicle and traction control software, DC/DC converter and a high-voltage battery pack. Another key technology is BorgWarner’s thermal-management system, which circulates coolant via an electric pump through the inverters and battery pack.

Related Reports:

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

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]