The North America Automotive Thermal System Market would witness market growth of 4.6% CAGR during the forecast period (2022-2028).
To increase efficiency and prevent component damage, an automotive thermal management system (TMS) analyzes and manages the operating temperature of numerous automotive systems, including transmission, power electronics, engine, electric drive units, and passenger cabin areas. They improve fuel economy and are also deployed to provide a variety of interior conveniences like front and rear air conditioning, steering heating, seat heating, and so on. These devices recycle waste heat, lowering overall Emissions of co2 in vehicles.
Moreover, the demand for a solution in order to minimize carbon pollutants created by internal combustion engines (ICEs) in automobiles, as well as rigorous emission rules enforced by government agencies is estimated to become more stringent in numerous countries. In addition, the utilization of innovative heating, ventilation, and air conditioning (HVAC) systems, which are both environmentally friendly and lightweight, is also increasing.
Furthermore, rising hybrid electric vehicle (HEV) sales, as well as the combination of thermal sensors with the automotive thermal aim is to monitor the temperature in real-time and deliver appropriate solutions to the user, are all contributing to market expansion. Also, the growing number of building activities is growing rapidly for heavy vehicles, which is fueling market expansion.
Car's radiator is a big grid that sits right behind the front grill. The purpose of this massive and essential item is to drop the water temperature in cooling system once it has collected heat from engine. Small leaks in radiator have similar consequences as a leaking radiator hose in terms of their ability to cool engine. However, if a rock or other piece of garbage penetrates radiator, it almost certainly needs to replace the automotive thermal system.
The plug-in electric car credit is a federal tax credit that runs from USD 2,500 to USD 7,500 for each vehicle, based on the battery capacity of the vehicle. After the sale of 200,000 qualified automobiles in the United States, this form of credit would be accessible. Annual contributions to the Department of Energy Efficiency and Renewable Energy (EERE) help in collecting funds for research and innovation of electric vehicles. There is a significant sale of electric vehicles cars in the United States, with Tier-1 businesses catering to the majority of it. For example, Tesla controls a significant portion of the market.
The US market dominated the North America Automotive Thermal System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $12,267 Million by 2028. The Canada market is experiencing a CAGR of 7% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 6% during (2022 - 2028).
Based on Propulsion, the market is segmented into ICE Vehicles and Electric & Hybrid Vehicles. Based on Application, the market is segmented into HVAC, Powertrain Cooling, Fluid Transport, and Others. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Automotive Thermal System Market is Estimated to reach $59.7 Billion by 2028, at a CAGR of 5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BorgWarner, Inc., Robert Bosch GmbH, Continental AG, Denso Corporation, Dana Incorporated, Valeo SA, Hanon Systems, Mahle GmbH, Gentherm Incorporated, and Grayson Automotive Services Limited.
Scope of the Study
Market Segments Covered in the Report:
By Propulsion
- ICE Vehicles
- Electric & Hybrid Vehicles
By Application
- HVAC
- Powertrain Cooling
- Fluid Transport
- Others
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- BorgWarner, Inc.
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Dana Incorporated
- Valeo SA
- Hanon Systems
- Mahle GmbH
- Gentherm Incorporated
- Grayson Automotive Services Limited
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Automotive Thermal System Market, by Propulsion
1.4.2 North America Automotive Thermal System Market, by Application
1.4.3 North America Automotive Thermal System Market, by Vehicle Type
1.4.4 North America Automotive Thermal System Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Acquisitions and Mergers: 2019, Mar – 2022, Apr) Leading Players
Chapter 4. North America Automotive Thermal System Market by Propulsion
4.1 North America ICE Vehicles Market by Country
4.2 North America Electric & Hybrid Vehicles Market by Country
Chapter 5. North America Automotive Thermal System Market by Application
5.1 North America HVAC Market by Country
5.2 North America Powertrain Cooling Market by Country
5.3 North America Fluid Transport Market by Country
5.4 North America Others Market by Country
Chapter 6. North America Automotive Thermal System Market by Vehicle Type
6.1 North America Passenger Cars Market by Country
6.2 North America Light Commercial Vehicles Market by Country
6.3 North America Heavy Commercial Vehicles Market by Country
Chapter 7. North America Automotive Thermal System Market by Country
7.1 US Automotive Thermal System Market
7.1.1 US Automotive Thermal System Market by Propulsion
7.1.2 US Automotive Thermal System Market by Application
7.1.3 US Automotive Thermal System Market by Vehicle Type
7.2 Canada Automotive Thermal System Market
7.2.1 Canada Automotive Thermal System Market by Propulsion
7.2.2 Canada Automotive Thermal System Market by Application
7.2.3 Canada Automotive Thermal System Market by Vehicle Type
7.3 Mexico Automotive Thermal System Market
7.3.1 Mexico Automotive Thermal System Market by Propulsion
7.3.2 Mexico Automotive Thermal System Market by Application
7.3.3 Mexico Automotive Thermal System Market by Vehicle Type
7.4 Rest of North America Automotive Thermal System Market
7.4.1 Rest of North America Automotive Thermal System Market by Propulsion
7.4.2 Rest of North America Automotive Thermal System Market by Application
7.4.3 Rest of North America Automotive Thermal System Market by Vehicle Type
Chapter 8. Company Profiles
8.1 BorgWarner, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Acquisition and Mergers:
8.2 Robert Bosch GmbH
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.3 Continental AG
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Acquisition and Mergers:
8.3.6 SWOT Analysis
8.4 Denso Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expense
8.5 Dana Incorporated
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Product Launches and Product Expansions:
8.5.5.2 Acquisition and Mergers:
8.6 Valeo SA
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Product Launches and Product Expansions:
8.7 Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Acquisition and Mergers:
8.7.5.2 Geographical Expansions:
8.8 Mahle GmbH (Mahle Stiftung GmbH)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Product Launches and Product Expansions:
8.8.5.2 Acquisition and Mergers:
8.9 Gentherm Incorporated
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expenses
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.10. Grayson Automotive Services Limited
8.10.1 Company Overview
TABLE 1 North America Automotive Thermal System Market, 2018 - 2021, USD Million
TABLE 2 North America Automotive Thermal System Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Automotive Thermal System Market
TABLE 4 Product Launches And Product Expansions – Automotive Thermal System Market
TABLE 5 Acquisition and Mergers – Automotive Thermal System Market
TABLE 6 Geographical Expansions – Automotive Thermal System Market
TABLE 7 North America Automotive Thermal System Market by Propulsion, 2018 - 2021, USD Million
TABLE 8 North America Automotive Thermal System Market by Propulsion, 2022 - 2028, USD Million
TABLE 9 North America ICE Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 10 North America ICE Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Electric & Hybrid Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Electric & Hybrid Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Automotive Thermal System Market by Application, 2018 - 2021, USD Million
TABLE 14 North America Automotive Thermal System Market by Application, 2022 - 2028, USD Million
TABLE 15 North America HVAC Market by Country, 2018 - 2021, USD Million
TABLE 16 North America HVAC Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Powertrain Cooling Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Powertrain Cooling Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Fluid Transport Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Fluid Transport Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Automotive Thermal System Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 24 North America Automotive Thermal System Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 25 North America Passenger Cars Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Passenger Cars Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Light Commercial Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Light Commercial Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Heavy Commercial Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Heavy Commercial Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Automotive Thermal System Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Automotive Thermal System Market by Country, 2022 - 2028, USD Million
TABLE 33 US Automotive Thermal System Market, 2018 - 2021, USD Million
TABLE 34 US Automotive Thermal System Market, 2022 - 2028, USD Million
TABLE 35 US Automotive Thermal System Market by Propulsion, 2018 - 2021, USD Million
TABLE 36 US Automotive Thermal System Market by Propulsion, 2022 - 2028, USD Million
TABLE 37 US Automotive Thermal System Market by Application, 2018 - 2021, USD Million
TABLE 38 US Automotive Thermal System Market by Application, 2022 - 2028, USD Million
TABLE 39 US Automotive Thermal System Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 40 US Automotive Thermal System Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 41 Canada Automotive Thermal System Market, 2018 - 2021, USD Million
TABLE 42 Canada Automotive Thermal System Market, 2022 - 2028, USD Million
TABLE 43 Canada Automotive Thermal System Market by Propulsion, 2018 - 2021, USD Million
TABLE 44 Canada Automotive Thermal System Market by Propulsion, 2022 - 2028, USD Million
TABLE 45 Canada Automotive Thermal System Market by Application, 2018 - 2021, USD Million
TABLE 46 Canada Automotive Thermal System Market by Application, 2022 - 2028, USD Million
TABLE 47 Canada Automotive Thermal System Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 48 Canada Automotive Thermal System Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 49 Mexico Automotive Thermal System Market, 2018 - 2021, USD Million
TABLE 50 Mexico Automotive Thermal System Market, 2022 - 2028, USD Million
TABLE 51 Mexico Automotive Thermal System Market by Propulsion, 2018 - 2021, USD Million
TABLE 52 Mexico Automotive Thermal System Market by Propulsion, 2022 - 2028, USD Million
TABLE 53 Mexico Automotive Thermal System Market by Application, 2018 - 2021, USD Million
TABLE 54 Mexico Automotive Thermal System Market by Application, 2022 - 2028, USD Million
TABLE 55 Mexico Automotive Thermal System Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 56 Mexico Automotive Thermal System Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 57 Rest of North America Automotive Thermal System Market, 2018 - 2021, USD Million
TABLE 58 Rest of North America Automotive Thermal System Market, 2022 - 2028, USD Million
TABLE 59 Rest of North America Automotive Thermal System Market by Propulsion, 2018 - 2021, USD Million
TABLE 60 Rest of North America Automotive Thermal System Market by Propulsion, 2022 - 2028, USD Million
TABLE 61 Rest of North America Automotive Thermal System Market by Application, 2018 - 2021, USD Million
TABLE 62 Rest of North America Automotive Thermal System Market by Application, 2022 - 2028, USD Million
TABLE 63 Rest of North America Automotive Thermal System Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 64 Rest of North America Automotive Thermal System Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 65 Key Information – BorgWarner, Inc.
TABLE 66 key information – Robert Bosch GmbH
TABLE 67 Key Information – Continental AG
TABLE 68 key information – Denso Corporation
TABLE 69 Key Information – Dana Incorporated
TABLE 70 key information – Valeo SA
TABLE 71 Key information – Hanon Systems
TABLE 72 Key information – Mahle GmbH
TABLE 73 Key Information – Gentherm Incorporated
TABLE 74 Key Information – Grayson Automotive Services Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Acquisitions and Mergers: 2019, Mar – 2022, Apr) Leading Players
FIG 5 Recent strategies and developments: BorgWarner, Inc.
FIG 6 SWOT Analysis: Continental AG
FIG 7 Recent strategies and developments: Hanon Systems