Global Engine and Transmission Thermal Systems Market, By ICE Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Truck, Bus), Technology (Active Transmission Warm Up, EGR, Engine Thermal Mass Reduction, Reduced HVAC System Loading, Others), Electric Vehicle Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), 48v Mild Hybrid Vehicle), Component (Air Filter, Condenser, Compressor, Water Pump, Motor, Heat Exchanger, Heater Control Unit, Thermoelectric Generator, Electric Compressor, Electric Water Pump, Electric Motor), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights Global Engine and Transmission Thermal Systems Market
Data Bridge Market Research analyses that the engine and transmission thermal systems market would exhibit a CAGR of 3.90% for the forecast period.
Thermal management systems in automobiles are used to reduce thermal loads, efficiently transmit heat, and recover waste heat. These features aid in lowering fuel consumption and improving passenger comfort. To increase efficiency and prevent component damage, an automobile thermal management system (TMS) monitors and manages the operating temperature of numerous automotive systems, such as power electronics, transmission, battery, electric drive units, engine, and passenger cabin areas.
The rising preference towards luxury and comfort features will influence the growth rate of engine and transmission thermal systems market during the forecast period of 2022-2029. The engine and transmission thermal systems market is likely to grow significantly due to the rising adoption of advanced technologies. Also, increasing government initiatives for the adoption of emission regulation are a contributing factor to the growth rate of engine and transmission thermal systems market. Furthermore, technical innovations and rise in infrastructure development and industrialization are the major market drivers that will have positive impact on the market’s growth rate. Some of the factors such as upsurge in the level of disposable income, rising urbanization and surging demand for commercial vehicles will further propel the market’s growth rate. The rise in demand from various end-use industries and the increasing adoption of BS VI norms are the major drivers that will further cushion the engine and transmission thermal systems market growth.
Moreover, an upsurge in the demand for mobility solutions coupled with increasing demand for electric vehicles will carve beneficial opportunities for the growth of the engine and transmission thermal systems market. Additionally, an increase in the number of research and development activities and emerging new markets will act as a significant market driver and further boost new opportunities for the market’s growth.
However, high cost linked with utilization of system technology and the dearth of standardization will stymie the revenue growth of engine and transmission thermal systems market. The dearth of awareness and lack of skilled workforce will pose major challenges for the growth of engine and transmission thermal systems market. Also, technological barriers and severe impact of COVID-19 on manufacturing as well as supply chain operations of various industries will act as major market restrain that will further hinder the growth of engine and transmission thermal systems market during the above mentioned forecast period.
This engine and transmission thermal systems market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on engine and transmission thermal systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Engine and Transmission Thermal Systems Market Scope and Market Size
The engine and transmission thermal systems market is segmented on the basis of ICE vehicle type, technology, electric vehicle type, and component. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Engine and transmission thermal systems market on the basis of ICE vehicle type has been segmented as passenger car, light commercial vehicle (LCV), truck, and bus.
- Based on technology, engine and transmission thermal systems market has been segmented into active transmission warm up, EGR, engine thermal mass reduction, reduced HVAC system loading, and others.
- On the basis of electric vehicle type, engine and transmission thermal systems market has been segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), fuel cell electric vehicle (FCEV), and 48v mild hybrid vehicle.
- Engine and transmission thermal systems market has also been segmented on the basis of component into air filter, condenser, compressor, water pump, motor, heat exchanger, heater control unit, thermoelectric generator, electric compressor, electric water pump, and electric motor.
Engine and Transmission Thermal Systems Market Country Level Analysis
The global engine and transmission thermal systems market is analysed and market size insights and trends are provided by country, ICE vehicle type, technology, electric vehicle type, and component as referenced above.
The countries covered in the engine and transmission thermal systems market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the engine and transmission thermal systems market due to the surging adoption of advanced technology and increase in the number of research and development activities in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the increasing demand of electric vehicles and rising adoption of BS VI norms in this region.
The country section of the engine and transmission thermal systems market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Engine and Transmission Thermal Systems Market Share Analysis
The engine and transmission thermal systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to engine and transmission thermal systems market.
Some of the major players operating in the engine and transmission thermal systems market are Schaeffler AG, DENSO CORPORATION., MAHLE GmbH, VALEO, Hanon Systems, BorgWarner Inc., GENTHERM, Johnson Electric Holdings Limited, Dana Limited., Robert Bosch GmbH., Eberspächer, VOSS Automotive GmbH, Grayson, MODINE MANUFACTURING COMPANY, Boyd Corporation., SANDEN HOLDINGS CORPORATION, The Hertz Corporation, Europcar, Enterprise Holdings Inc., and Avis Budget Group, among others.
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