The Automotive Thermal System Market is expected to register a CAGR of 4.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Vehicle Type, Technology, Components, and by Application. Based on vehicle type, the market is segmented into passenger cars, LCV, truck, bus, HEV, and BEV. Based on technology, the market is divided into Active Transmission Warm Up, Exhaust Gas Recirculation (EGR), Engine Thermal Mass Reduction, Reduced HVAC System Loading, and Others. Based on components, the market is divided into Air Filter, Condenser, Compressor, Water-Pump, Motor, Heat Exchanger, Others. Based on application, the market is segmented into Battery Thermal System, Transmission System, Engine Cooling, Front Air Conditioning, Motor Thermal System, Power Electronics, Rear Air Conditioning, Heated/Ventilated Seats, Heated Steering, and Waste Heat Recovery.
Purpose of the ReportThe report Automotive Thermal System Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Automotive Thermal System Market Segmentation
Vehicle Type- Passenger Cars
- LCV
- Truck
- Bus
- HEV
- BEV
- Active Transmission Warm Up
- Exhaust Gas Recirculation
- Engine Thermal Mass Reduction
- Reduced HVAC System Loading
- Others
- Air Filter
- Condenser
- Compressor
- Water-Pump
- Motor
- Heat Exchanger
- Others
- 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
Strategic Insights
Automotive Thermal System Market Growth Drivers- Increasing automotive production: across the globe with surge in demand for the passenger cars drives the market growth during the forecast period. According to the International Organization of Motor Vehicle Manufacturers, global automotive production reached to 93.5 million units in 2023 increased by 8.6% as compared to 2022. The automotive industry plays a crucial role in the world’s economy, and the automotive manufacturing industry generated around US$ 2.52 trillion in 2022 and is growing at a rapid pace during the forecast period. Automotive thermal management used in various automotive applications, such as engine, HVAC system of automotive, transmission system and many others.
- Increasing strict rules and regulations: The rules and regulation related to carbon emission from the automotives in various countries drives automotive thermal system market growth. Automobile OEMs started investing in the manufacturing of the electric vehicles for complying with the strict government emission rules and standards. Automobile thermal management system offers engine efficiency and enhances the battery life. Electric vehicles require thermal management systems to keep battery temperature within desired range. This factors are contributing major driving factor for the automotive thermal system market growth during the forecast period.
- Rising Demand for Electric Vehicles (EVs): As electric vehicles (EVs) become more popular, there is a growing need for advanced thermal management systems to regulate the temperature of lithium-ion batteries. EV batteries are sensitive to temperature extremes, and maintaining an optimal operating temperature range is crucial for extending battery life, enhancing efficiency, and ensuring safety. This has led to increased demand for battery thermal management systems (BTMS), which are designed to maintain optimal thermal conditions for EV batteries.
- Rising adoption of the advanced technology: The rising adoption of advanced techenology based connected vehicles across the globe is driving the demand for automotive thermal system market growth. According to the Insight Partners Analysis in 2023, global connected vehicles sales increased by 28% in third quarter of 2023 as compared to 2022. Such rising adoption of the connected vehicles is driving the demand for advanced automotive thermal system market growth during the forecast period.
- Growing Focus on Fuel Efficiency and Emissions Reduction: In traditional vehicles with internal combustion engines (ICE), thermal management systems are crucial for improving engine efficiency, reducing fuel consumption, and minimizing emissions. Innovations in engine cooling systems, such as more efficient radiators, thermostats, and water pumps, are helping automakers meet fuel efficiency targets and reduce CO2 emissions in compliance with stringent environmental regulations.
- Growing technological advancement: in the automotive thermal system across the globe with surge in investments by the key players for the to develop the advanced automotive drives the market growth. For instance, in June, 2023, ZF Friedrichshafen launched new thermal management system for the electric vehicles. The new thermal management system designed with sets of new electric vehicle standards to offer better efficiency. ZF develops its thermal management system for the electric vehicles (EVs).
- Regulatory Pressure and Emission Norms: Governments worldwide are tightening emission regulations to reduce greenhouse gas emissions and air pollution. To comply with regulations such as Euro 6 (Europe) and Tier 3 (USA), automakers need to improve the efficiency of their thermal systems, particularly the engine cooling and exhaust systems, to ensure better fuel efficiency and lower emissions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Thermal System Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Automotive Thermal System Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The major players in the market includes DENSO CORPORATION, BorgWarner Inc., Dana Limited, GENTHERM, Hanon Systems, Johnson Electric Holdings Limited, MAHLE GmbH, Robert Bosch GmbH, ZF Friedrichshafen and Schaeffler Group.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The Automotive Thermal System Market is estimated to witness a CAGR of 4.2% from 2023 to 2031
The major factors driving the automotive thermal system market are: Increasing automotive production across the globe, Rising adoption of the electric vehicles, growing government strict rules and regulations regarding the carbon emission driving the market growth.
The high manufacturing cost for the automotive thermal system hinders the market growth.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Thermal System Market - By Vehicle Type
1.3.2 Automotive Thermal System Market - By Technology
1.3.3 Automotive Thermal System Market - By Components
1.3.4 Automotive Thermal System Market - By Application
1.3.5 Automotive Thermal System Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE THERMAL SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE THERMAL SYSTEM MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AUTOMOTIVE THERMAL SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE THERMAL SYSTEM - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE THERMAL SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE THERMAL SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
7.1. OVERVIEW
7.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
7.3. PASSENGER CARS
7.3.1. Overview
7.3.2. Passenger Cars Market Forecast and Analysis
7.4. LCV
7.4.1. Overview
7.4.2. LCV Market Forecast and Analysis
7.5. TRUCK
7.5.1. Overview
7.5.2. Truck Market Forecast and Analysis
7.6. BUS
7.6.1. Overview
7.6.2. Bus Market Forecast and Analysis
7.7. HEV
7.7.1. Overview
7.7.2. HEV Market Forecast and Analysis
7.8. BEV
7.8.1. Overview
7.8.2. BEV Market Forecast and Analysis
8. AUTOMOTIVE THERMAL SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. ACTIVE TRANSMISSION WARM UP
8.3.1. Overview
8.3.2. Active Transmission Warm Up Market Forecast and Analysis
8.4. EXHAUST GAS RECIRCULATION
8.4.1. Overview
8.4.2. Exhaust Gas Recirculation Market Forecast and Analysis
8.5. ENGINE THERMAL MASS REDUCTION
8.5.1. Overview
8.5.2. Engine Thermal Mass Reduction Market Forecast and Analysis
8.6. REDUCED HVAC SYSTEM LOADING
8.6.1. Overview
8.6.2. Reduced HVAC System Loading Market Forecast and Analysis
8.7. OTHER TECHNOLOGIES
8.7.1. Overview
8.7.2. Other Technologies Market Forecast and Analysis
9. AUTOMOTIVE THERMAL SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENTS
9.1. OVERVIEW
9.2. COMPONENTS MARKET FORECASTS AND ANALYSIS
9.3. AIR FILTER
9.3.1. Overview
9.3.2. Air Filter Market Forecast and Analysis
9.4. CONDENSER
9.4.1. Overview
9.4.2. Condenser Market Forecast and Analysis
9.5. COMPRESSOR
9.5.1. Overview
9.5.2. Compressor Market Forecast and Analysis
9.6. WATER-PUMP
9.6.1. Overview
9.6.2. Water-Pump Market Forecast and Analysis
9.7. MOTOR
9.7.1. Overview
9.7.2. Motor Market Forecast and Analysis
9.8. HEAT EXCHANGER
9.8.1. Overview
9.8.2. Heat Exchanger Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. AUTOMOTIVE THERMAL SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. BATTERY THERMAL SYSTEM
10.3.1. Overview
10.3.2. Battery Thermal System Market Forecast and Analysis
10.4. TRANSMISSION SYSTEM
10.4.1. Overview
10.4.2. Transmission System Market Forecast and Analysis
10.5. ENGINE COOLING
10.5.1. Overview
10.5.2. Engine Cooling Market Forecast and Analysis
10.6. FRONT AIR CONDITIONING
10.6.1. Overview
10.6.2. Front Air Conditioning Market Forecast and Analysis
10.7. MOTOR THERMAL SYSTEM
10.7.1. Overview
10.7.2. Motor Thermal System Market Forecast and Analysis
10.8. POWER ELECTRONICS
10.8.1. Overview
10.8.2. Power Electronics Market Forecast and Analysis
10.9. REAR AIR CONDITIONING
10.9.1. Overview
10.9.2. Rear Air Conditioning Market Forecast and Analysis
10.10. HEATED/VENTILATED SEATS
10.10.1. Overview
10.10.2. Heated/Ventilated Seats Market Forecast and Analysis
10.11. HEATED STEERING
10.11.1. Overview
10.11.2. Heated Steering Market Forecast and Analysis
10.12. WASTE HEAT RECOVERY
10.12.1. Overview
10.12.2. Waste Heat Recovery Market Forecast and Analysis
11. AUTOMOTIVE THERMAL SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Automotive Thermal System Market Overview
11.1.2 North America Automotive Thermal System Market Forecasts and Analysis
11.1.3 North America Automotive Thermal System Market Forecasts and Analysis - By Vehicle Type
11.1.4 North America Automotive Thermal System Market Forecasts and Analysis - By Technology
11.1.5 North America Automotive Thermal System Market Forecasts and Analysis - By Components
11.1.6 North America Automotive Thermal System Market Forecasts and Analysis - By Application
11.1.7 North America Automotive Thermal System Market Forecasts and Analysis - By Countries
11.1.7.1 United States Automotive Thermal System Market
11.1.7.1.1 United States Automotive Thermal System Market by Vehicle Type
11.1.7.1.2 United States Automotive Thermal System Market by Technology
11.1.7.1.3 United States Automotive Thermal System Market by Components
11.1.7.1.4 United States Automotive Thermal System Market by Application
11.1.7.2 Canada Automotive Thermal System Market
11.1.7.2.1 Canada Automotive Thermal System Market by Vehicle Type
11.1.7.2.2 Canada Automotive Thermal System Market by Technology
11.1.7.2.3 Canada Automotive Thermal System Market by Components
11.1.7.2.4 Canada Automotive Thermal System Market by Application
11.1.7.3 Mexico Automotive Thermal System Market
11.1.7.3.1 Mexico Automotive Thermal System Market by Vehicle Type
11.1.7.3.2 Mexico Automotive Thermal System Market by Technology
11.1.7.3.3 Mexico Automotive Thermal System Market by Components
11.1.7.3.4 Mexico Automotive Thermal System Market by Application
11.2. EUROPE
11.2.1 Europe Automotive Thermal System Market Overview
11.2.2 Europe Automotive Thermal System Market Forecasts and Analysis
11.2.3 Europe Automotive Thermal System Market Forecasts and Analysis - By Vehicle Type
11.2.4 Europe Automotive Thermal System Market Forecasts and Analysis - By Technology
11.2.5 Europe Automotive Thermal System Market Forecasts and Analysis - By Components
11.2.6 Europe Automotive Thermal System Market Forecasts and Analysis - By Application
11.2.7 Europe Automotive Thermal System Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Automotive Thermal System Market
11.2.7.1.1 Germany Automotive Thermal System Market by Vehicle Type
11.2.7.1.2 Germany Automotive Thermal System Market by Technology
11.2.7.1.3 Germany Automotive Thermal System Market by Components
11.2.7.1.4 Germany Automotive Thermal System Market by Application
11.2.7.2 France Automotive Thermal System Market
11.2.7.2.1 France Automotive Thermal System Market by Vehicle Type
11.2.7.2.2 France Automotive Thermal System Market by Technology
11.2.7.2.3 France Automotive Thermal System Market by Components
11.2.7.2.4 France Automotive Thermal System Market by Application
11.2.7.3 Italy Automotive Thermal System Market
11.2.7.3.1 Italy Automotive Thermal System Market by Vehicle Type
11.2.7.3.2 Italy Automotive Thermal System Market by Technology
11.2.7.3.3 Italy Automotive Thermal System Market by Components
11.2.7.3.4 Italy Automotive Thermal System Market by Application
11.2.7.4 United Kingdom Automotive Thermal System Market
11.2.7.4.1 United Kingdom Automotive Thermal System Market by Vehicle Type
11.2.7.4.2 United Kingdom Automotive Thermal System Market by Technology
11.2.7.4.3 United Kingdom Automotive Thermal System Market by Components
11.2.7.4.4 United Kingdom Automotive Thermal System Market by Application
11.2.7.5 Russia Automotive Thermal System Market
11.2.7.5.1 Russia Automotive Thermal System Market by Vehicle Type
11.2.7.5.2 Russia Automotive Thermal System Market by Technology
11.2.7.5.3 Russia Automotive Thermal System Market by Components
11.2.7.5.4 Russia Automotive Thermal System Market by Application
11.2.7.6 Rest of Europe Automotive Thermal System Market
11.2.7.6.1 Rest of Europe Automotive Thermal System Market by Vehicle Type
11.2.7.6.2 Rest of Europe Automotive Thermal System Market by Technology
11.2.7.6.3 Rest of Europe Automotive Thermal System Market by Components
11.2.7.6.4 Rest of Europe Automotive Thermal System Market by Application
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Automotive Thermal System Market Overview
11.3.2 Asia-Pacific Automotive Thermal System Market Forecasts and Analysis
11.3.3 Asia-Pacific Automotive Thermal System Market Forecasts and Analysis - By Vehicle Type
11.3.4 Asia-Pacific Automotive Thermal System Market Forecasts and Analysis - By Technology
11.3.5 Asia-Pacific Automotive Thermal System Market Forecasts and Analysis - By Components
11.3.6 Asia-Pacific Automotive Thermal System Market Forecasts and Analysis - By Application
11.3.7 Asia-Pacific Automotive Thermal System Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Automotive Thermal System Market
11.3.7.1.1 Australia Automotive Thermal System Market by Vehicle Type
11.3.7.1.2 Australia Automotive Thermal System Market by Technology
11.3.7.1.3 Australia Automotive Thermal System Market by Components
11.3.7.1.4 Australia Automotive Thermal System Market by Application
11.3.7.2 China Automotive Thermal System Market
11.3.7.2.1 China Automotive Thermal System Market by Vehicle Type
11.3.7.2.2 China Automotive Thermal System Market by Technology
11.3.7.2.3 China Automotive Thermal System Market by Components
11.3.7.2.4 China Automotive Thermal System Market by Application
11.3.7.3 India Automotive Thermal System Market
11.3.7.3.1 India Automotive Thermal System Market by Vehicle Type
11.3.7.3.2 India Automotive Thermal System Market by Technology
11.3.7.3.3 India Automotive Thermal System Market by Components
11.3.7.3.4 India Automotive Thermal System Market by Application
11.3.7.4 Japan Automotive Thermal System Market
11.3.7.4.1 Japan Automotive Thermal System Market by Vehicle Type
11.3.7.4.2 Japan Automotive Thermal System Market by Technology
11.3.7.4.3 Japan Automotive Thermal System Market by Components
11.3.7.4.4 Japan Automotive Thermal System Market by Application
11.3.7.5 South Korea Automotive Thermal System Market
11.3.7.5.1 South Korea Automotive Thermal System Market by Vehicle Type
11.3.7.5.2 South Korea Automotive Thermal System Market by Technology
11.3.7.5.3 South Korea Automotive Thermal System Market by Components
11.3.7.5.4 South Korea Automotive Thermal System Market by Application
11.3.7.6 Rest of Asia-Pacific Automotive Thermal System Market
11.3.7.6.1 Rest of Asia-Pacific Automotive Thermal System Market by Vehicle Type
11.3.7.6.2 Rest of Asia-Pacific Automotive Thermal System Market by Technology
11.3.7.6.3 Rest of Asia-Pacific Automotive Thermal System Market by Components
11.3.7.6.4 Rest of Asia-Pacific Automotive Thermal System Market by Application
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Automotive Thermal System Market Overview
11.4.2 Middle East and Africa Automotive Thermal System Market Forecasts and Analysis
11.4.3 Middle East and Africa Automotive Thermal System Market Forecasts and Analysis - By Vehicle Type
11.4.4 Middle East and Africa Automotive Thermal System Market Forecasts and Analysis - By Technology
11.4.5 Middle East and Africa Automotive Thermal System Market Forecasts and Analysis - By Components
11.4.6 Middle East and Africa Automotive Thermal System Market Forecasts and Analysis - By Application
11.4.7 Middle East and Africa Automotive Thermal System Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Automotive Thermal System Market
11.4.7.1.1 South Africa Automotive Thermal System Market by Vehicle Type
11.4.7.1.2 South Africa Automotive Thermal System Market by Technology
11.4.7.1.3 South Africa Automotive Thermal System Market by Components
11.4.7.1.4 South Africa Automotive Thermal System Market by Application
11.4.7.2 Saudi Arabia Automotive Thermal System Market
11.4.7.2.1 Saudi Arabia Automotive Thermal System Market by Vehicle Type
11.4.7.2.2 Saudi Arabia Automotive Thermal System Market by Technology
11.4.7.2.3 Saudi Arabia Automotive Thermal System Market by Components
11.4.7.2.4 Saudi Arabia Automotive Thermal System Market by Application
11.4.7.3 U.A.E Automotive Thermal System Market
11.4.7.3.1 U.A.E Automotive Thermal System Market by Vehicle Type
11.4.7.3.2 U.A.E Automotive Thermal System Market by Technology
11.4.7.3.3 U.A.E Automotive Thermal System Market by Components
11.4.7.3.4 U.A.E Automotive Thermal System Market by Application
11.4.7.4 Rest of Middle East and Africa Automotive Thermal System Market
11.4.7.4.1 Rest of Middle East and Africa Automotive Thermal System Market by Vehicle Type
11.4.7.4.2 Rest of Middle East and Africa Automotive Thermal System Market by Technology
11.4.7.4.3 Rest of Middle East and Africa Automotive Thermal System Market by Components
11.4.7.4.4 Rest of Middle East and Africa Automotive Thermal System Market by Application
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Automotive Thermal System Market Overview
11.5.2 South and Central America Automotive Thermal System Market Forecasts and Analysis
11.5.3 South and Central America Automotive Thermal System Market Forecasts and Analysis - By Vehicle Type
11.5.4 South and Central America Automotive Thermal System Market Forecasts and Analysis - By Technology
11.5.5 South and Central America Automotive Thermal System Market Forecasts and Analysis - By Components
11.5.6 South and Central America Automotive Thermal System Market Forecasts and Analysis - By Application
11.5.7 South and Central America Automotive Thermal System Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Automotive Thermal System Market
11.5.7.1.1 Brazil Automotive Thermal System Market by Vehicle Type
11.5.7.1.2 Brazil Automotive Thermal System Market by Technology
11.5.7.1.3 Brazil Automotive Thermal System Market by Components
11.5.7.1.4 Brazil Automotive Thermal System Market by Application
11.5.7.2 Argentina Automotive Thermal System Market
11.5.7.2.1 Argentina Automotive Thermal System Market by Vehicle Type
11.5.7.2.2 Argentina Automotive Thermal System Market by Technology
11.5.7.2.3 Argentina Automotive Thermal System Market by Components
11.5.7.2.4 Argentina Automotive Thermal System Market by Application
11.5.7.3 Rest of South and Central America Automotive Thermal System Market
11.5.7.3.1 Rest of South and Central America Automotive Thermal System Market by Vehicle Type
11.5.7.3.2 Rest of South and Central America Automotive Thermal System Market by Technology
11.5.7.3.3 Rest of South and Central America Automotive Thermal System Market by Components
11.5.7.3.4 Rest of South and Central America Automotive Thermal System Market by Application
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. AUTOMOTIVE THERMAL SYSTEM MARKET, KEY COMPANY PROFILES
13.1. DENSO CORPORATION
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BORGWARNER INC
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. DANA LIMITED
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. GENTHERM
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. HANON SYSTEMS
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. JOHNSON ELECTRIC HOLDINGS LIMITED
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MAHLE GMBH
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. ROBERT BOSCH GMBH
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SCHAEFFLER GROUP
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. VALEO
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. DENSO CORPORATION
2. BorgWarner Inc
3. Dana Limited
4. GENTHERM
5. Hanon Systems
6. Johnson Electric Holdings Limited
7. MAHLE GmbH
8. Robert Bosch GmbH
9. Schaeffler Group
10. Valeo
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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