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Global Thermal Systems Market

Global Thermal Systems Market

Global Thermal Systems Market

Dublin, Sept. 27, 2022 (GLOBE NEWSWIRE) — The “Global Thermal Systems Market by Application (Front and Rear Air Conditioning, Powertrain, Seat, Steering, Battery, Motor, Power Electronics, Waste Heat Recovery, Sensor), Technology, Components, Vehicle (ICE, Electric, Non-Vehicle and MTB) and Region – Forecast until 2027″ report has been added to from offer.

The global thermal systems market is expected to grow from USD 37.6 billion in 2022 to USD 41.7 billion in 2027, at a CAGR of 2.1%. The market has a promising growth potential owing to several factors such as stringent emission standards in various countries, which would create the importance of powertrain thermal management. The growing demand for premium cars with increased comfort features would require thermal management. Finally, the rise of electric vehicles requires efficient thermal management of batteries, motors and other power electronics modules.

With the increasing demand for luxury cars, especially high-end full-size SUVs, several thermal systems such as heated steering, heated/ventilated seats, automatic air conditioning and rear air conditioning have evolved in terms of technology, comfort and security. For example, to provide sufficient cooling for third-row passengers, OEMs are installing separate rear air conditioning units in full-size SUVs, and with the growing demand, the rear seat air conditioning market will also grow. The growing demand for luxury vehicles would drive the need for advanced thermal systems and features, such as grille shutters, passive cabin ventilation, active cabin ventilation, active seat ventilation, and glass or glazing , which currently have very low penetration.

The battery electric vehicle segment would lead the thermal systems market for electric and hybrid vehicles

Strict emissions regulations have shifted the global focus to electric vehicles, leading to exponential growth in these types of vehicles in recent years. An increase in electric vehicle sales has spurred demand for electrical components such as electric compressors, batteries, electric motors, power electronics and heat exchangers. Additionally, the demand for longer range and fast charging has made battery and motor thermal management an important aspect of electric vehicles. Furthermore, according to a survey of BEV architectures, the industry has experimented with combinations of different thermal management concepts such as cabin pre-conditioning, air and refrigerant cooled batteries, heat pumping, harvesting and the reuse of waste. heat, etc Thus, growth in electric vehicle sales would fuel the thermal systems market in the near future

Waste heat recovery technology is expected to grow at the fastest rate over the forecast period

Waste heat recovery will be the fastest growing segment over the forecast period due to the increasing stringency of emissions regulations, especially in Western Europe and North America. European countries, Turkey and Israel have made the “Worldwide Harmonized Light-Duty Vehicle Test Procedure (WLTP)” mandatory, which reduces emissions and increases fuel efficiency. Some other countries are expected to join this program in the future, which could fuel the adoption of EGR technology, mainly for compact engines in the coming years. This would create a growth opportunity for the use of Exhaust Gas Recirculation (EGR) and Thermoelectric Generator (TEG) over the coming year and bring new business opportunities for thermal system suppliers.

Market dynamics





Main topics covered:

1. Introduction

2 Research methodology

3 Executive Summary

4 premium previews

5 Market Overview

6 Thermal Systems Market, By Application (ICE)

7 Thermal Systems Market, By Component (ICE)

8 Automotive Thermal Systems Market, By Technology (ICE)

9 Thermal Systems Market, By Vehicle Type (ICE)

10 Electric and Hybrid Vehicle Thermal Systems Market, by Application

11 Electric and Hybrid Vehicle Thermal Systems Market, By Component

12 Electric and Hybrid Vehicle Thermal Systems Market, by Vehicle Type

13 Off-Road Thermal Systems Market, By Equipment Type

14 All-Terrain Vehicle (ATV) Thermal Systems Market, by Region

15 Thermal Systems Market, by Region

16 analyst recommendations

17 Competitive Landscape

18 company profiles

19 Appendix

Companies cited

  • Air International Thermal Systems

  • AKG Thermal Systems Inc.

  • Behr-Hella Thermocontrol GmbH (BHTC)

  • Borgwarner Inc.

  • Boyd Company

  • Captherm systems

  • Continental AG

  • Dana Limited

  • Denso Company

  • Du Pont

  • Eberspacher

  • Gentherm inc.

  • Grayson thermal systems

  • Hanon Systems

  • Johnson Electric Holdings Ltd.

  • Lear Company

  • Magna International

  • Mahle GmbH

  • Michigan Automotive Compressor, Inc.

  • Modine Manufacturing Company

  • Robert Bosch GmbH

  • Sanden Holding Corporation

  • Sanhua Automotive

  • Schaeffler AG

  • Shandong Houfeng Group

  • Stant Company

  • T.Rad North America, Inc.

  • Thermal Solutions Manufacturing, Inc.

  • Valeo SA

  • Voss Automotive GmbH

  • Wells Vehicle Electronics

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