Passenger Car Thermal System Market By Size, Share and Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 42.61 billion
CAGR (2023-2028)	6.31%
Fastest Growing Segment	SUV
Largest Market	Asia-Pacific

Market Overview

The Global Passenger Car Thermal System Market size reached USD 42.61 billion in 2022 and is expected to grow with a CAGR of 6.31% in the forecast period. The Global Passenger Car Thermal System Market is a critical component of the automotive industry, responsible for managing temperature and thermal performance in passenger vehicles. These systems play a multifaceted role, encompassing engine cooling, cabin comfort, and the thermal management of vital components in modern automobiles.

One of the primary functions of passenger car thermal systems is engine cooling. Efficient engine cooling is achieved through a network of components such as radiators, cooling fans, and coolant pumps. These systems ensure that the engine operates within its optimal temperature range, promoting efficient combustion, reducing emissions, and prolonging the engine's lifespan. In an era of stringent emissions regulations, thermal management solutions are vital for automakers to meet environmental standards while maintaining engine performance.

Cabin comfort is another critical aspect addressed by these systems. Heating, ventilation, and air conditioning (HVAC) systems are integral to maintaining a comfortable cabin environment for passengers. These systems provide heating during cold weather and cooling during hot summer days, enhancing passenger comfort and overall driving experience. Advancements in HVAC technology, including the adoption of eco-friendly refrigerants and energy-efficient compressors, contribute to reducing the environmental impact of vehicle operation.

In the context of electric and hybrid vehicles (EVs and HEVs), passenger car thermal systems have gained additional importance. Battery thermal management systems play a crucial role in regulating the temperature of lithium-ion batteries, which are the heart of these vehicles. Effective thermal management ensures battery safety, extends battery life, and maximizes driving range. Liquid cooling, phase-change materials, and advanced thermal insulation are employed to address the unique thermal challenges posed by electric drivetrains.

Furthermore, thermal systems are essential for maintaining the proper functioning of various components, including transmissions, powertrains, and exhaust systems. These systems prevent overheating, ensuring reliable vehicle performance and longevity.

Sustainability and environmental concerns are shaping the future of passenger car thermal systems. Automotive manufacturers and suppliers are increasingly focused on developing eco-friendly solutions. This includes the use of lightweight materials to reduce energy consumption, the integration of renewable energy sources, and the development of thermal systems that minimize their carbon footprint.

In conclusion, the Global Passenger Car Thermal System Market is instrumental in optimizing engine performance, cabin comfort, and environmental sustainability in passenger vehicles. As the automotive industry continues to evolve, these systems will play an even more significant role in addressing the challenges of electric mobility, stringent emissions regulations, and the demand for enhanced passenger comfort and environmental responsibility.

Key Market Drivers

Rising Demand for Electric Vehicles (EVs)

The increasing popularity of EVs is a major driver for the thermal system market. Battery thermal management systems are crucial for regulating lithium-ion battery temperatures, ensuring safety, and maximizing performance. As governments worldwide promote electric mobility, the demand for advanced thermal solutions in EVs continues to surge.

Stringent Emissions Regulations

Stringent emissions standards are compelling automakers to invest in innovative exhaust gas management solutions. Thermal systems play a pivotal role in reducing harmful emissions, improving engine efficiency, and ensuring compliance with emissions regulations globally.

Consumer Focus on Cabin Comfort

Passenger comfort remains a top priority for consumers. As a result, HVAC systems within thermal systems are continuously evolving to provide efficient heating, ventilation, and air conditioning. Multi-zone climate control, eco-friendly refrigerants, and energy-efficient HVAC solutions cater to consumer demands for enhanced cabin comfort.

Advancements in Battery Technology

Ongoing advancements in battery technology have increased the range and performance of electric vehicles. This necessitates advanced battery thermal management systems to regulate temperatures effectively, extend battery life, and enhance overall EV performance.

Growing Urbanization

The trend of urbanization, with more people residing in cities, has led to increased demand for compact and efficient passenger vehicles. Thermal systems in these vehicles are designed to optimize space and performance, ensuring efficient cooling and heating solutions in compact packages.

Technological Innovation

Continuous technological innovation is driving the development of more efficient thermal management solutions. Liquid cooling systems, phase-change materials, and advanced insulation materials are being integrated into thermal systems to meet evolving performance and sustainability requirements.

Government Support for Sustainable Transportation

Governments worldwide are actively promoting sustainable transportation solutions, including electric and hybrid vehicles. Subsidies, tax incentives, and stringent emissions targets encourage automakers to invest in cutting-edge thermal technologies for environmentally friendly vehicles.

Environmental Sustainability

Sustainability concerns are pushing the industry to develop eco-friendly thermal solutions. Lightweight materials, renewable energy sources, and energy-efficient technologies are being adopted to minimize the environmental impact of thermal systems, aligning with global sustainability goals.

In conclusion, the Global Passenger Car Thermal System Market is shaped by a complex interplay of factors, ranging from the rapid adoption of EVs and emissions regulations to consumer comfort expectations and ongoing technological advancements. As the automotive industry continues to evolve, thermal systems will play a pivotal role in meeting the demands of electric mobility, emissions reduction, and passenger comfort.

Download Free Sample Report

Key Market Challenges

Emission Reduction Targets

The automotive industry is under constant pressure to reduce emissions to comply with stringent regulations aimed at curbing air pollution and mitigating climate change. Achieving these targets requires innovative exhaust gas management solutions within thermal systems, which can be technologically complex and expensive to develop and implement.

Electrification Transition

While the electrification of vehicles is a positive step toward reducing greenhouse gas emissions, it poses challenges for thermal systems. Developing efficient battery thermal management systems capable of maintaining optimal temperatures for lithium-ion batteries is critical. This transition also necessitates a shift in engineering expertise and supply chain management.

Battery Range and Charging Infrastructure

The limited driving range of some EVs remains a concern for consumers. Thermal systems play a key role in managing battery temperatures to extend range, but this requires sophisticated thermal solutions. Additionally, the availability and accessibility of charging infrastructure must improve to alleviate range anxiety and promote EV adoption.

Cost Constraints

The automotive industry must balance the need for efficient thermal systems with cost considerations. High-performance thermal management solutions, particularly for batteries, can increase the overall cost of the vehicle. Finding cost-effective materials and manufacturing processes while maintaining performance is a constant challenge.

Consumer Expectations

Consumers expect a comfortable cabin environment with efficient heating and cooling. Meeting these expectations while ensuring energy efficiency and reducing environmental impact is a balancing act. Developing HVAC systems that are both efficient and capable of providing rapid cabin temperature adjustments presents an ongoing challenge.

Extreme Weather Conditions

Vehicles operate in diverse climates, from sweltering summers to frigid winters. Thermal systems must perform reliably under extreme conditions, which can strain components like radiators, compressors, and coolant systems. Designing thermal systems that function optimally across a wide range of temperatures is a complex engineering challenge.

Global Supply Chain Disruptions

Recent disruptions in the global supply chain have exposed vulnerabilities in sourcing critical components for thermal systems. Ensuring a stable supply chain, particularly for specialized components like refrigerants and advanced materials, is vital to maintaining production and meeting market demands.

Integration with Autonomous Driving

The advent of autonomous driving introduces additional challenges for thermal management. Autonomous vehicles may require sophisticated thermal solutions to ensure the reliable operation of sensors, computers, and advanced driver assistance systems (ADAS). Maintaining thermal comfort for passengers while integrating complex autonomous systems is a multifaceted challenge.

In summary, the Global Passenger Car Thermal System Market confronts a multitude of challenges, from regulatory pressures to technological complexities and consumer demands. Overcoming these challenges requires continuous innovation, collaboration among industry stakeholders, and a commitment to environmentally responsible solutions.

Key Market Trends

Electrification Emphasis

The shift toward electric vehicles (EVs) is a prominent trend. Thermal systems are adapting to efficiently manage battery temperatures in EVs, optimizing performance, safety, and longevity. Liquid cooling, phase-change materials, and advanced insulation are being employed for effective battery thermal management.

Sustainable Solutions

Sustainability is a pervasive trend, with automakers focusing on eco-friendly thermal technologies. Lightweight materials, renewable energy sources for heating and cooling, and the adoption of eco-friendly refrigerants are reducing the environmental footprint of thermal systems.

Advanced HVAC

Heating, ventilation, and air conditioning (HVAC) systems are evolving to provide more efficient cabin climate control. Multi-zone climate control, air purification, and energy-efficient compressors cater to consumer demands for enhanced passenger comfort while minimizing energy consumption.

Smart Thermal Systems

Integration of smart sensors and artificial intelligence (AI) in thermal systems is a growing trend. These systems can adapt to real-time conditions, optimizing heating and cooling to enhance efficiency and passenger comfort. Predictive maintenance based on sensor data is also becoming more prevalent.

Efficient Exhaust Gas Management

As emissions regulations become more stringent, thermal systems play a crucial role in managing exhaust gases. Innovations in exhaust gas recirculation (EGR) systems, selective catalytic reduction (SCR) technologies, and improved turbocharging are aiding in emissions reduction.

Thermal Comfort for Autonomous Vehicles

With the rise of autonomous driving, ensuring passenger thermal comfort is essential. Advanced thermal systems are being developed to provide optimal cabin conditions for passengers while also ensuring the reliable operation of sensors and ADAS components.

Modular Thermal Systems

Modular thermal systems are gaining popularity. These systems allow for greater flexibility in vehicle design and manufacturing, making it easier to integrate thermal components into various vehicle models.

Integration of Renewable Energy

Automakers are exploring the integration of renewable energy sources, such as solar panels, into thermal systems. Solar-powered ventilation and cooling systems are being incorporated to reduce the load on traditional HVAC systems, especially in hybrid and electric vehicles.

In summary, the Global Passenger Car Thermal System Market is characterized by a transition toward electrification, sustainability initiatives, enhanced passenger comfort, and the integration of smart technologies. These trends are driving the development of more efficient, eco-friendly, and adaptive thermal systems to meet the evolving needs of the automotive industry and its consumers.

Segmental Insights

By Vehicle Type

The passenger car segment is the most extensive market for thermal systems, catering to diverse consumer preferences. These systems encompass heating, ventilation, and air conditioning (HVAC) solutions for cabin comfort. Additionally, they play a critical role in engine cooling to optimize combustion efficiency and meet emissions standards.

Light trucks and SUVs, including crossovers, offer versatility and performance. Thermal systems in this segment focus on efficient HVAC systems for larger cabins, ensuring passenger comfort. Robust engine cooling solutions are essential for managing the increased heat generated by these vehicles. Electric vehicles (EVs) represent a rapidly growing segment with unique thermal demands. Battery thermal management systems are crucial for regulating lithium-ion battery temperatures, ensuring safety and efficiency. Liquid cooling, thermal insulation, and advanced materials are employed to maintain optimal battery conditions.

Hybrid vehicles (HEVs), combining internal combustion engines with electric propulsion, require sophisticated thermal systems. These systems manage the interplay between power sources, optimizing engine performance and battery efficiency. HEVs demand advanced HVAC and exhaust gas management solutions.

Commercial vehicles, including vans and trucks, serve diverse purposes and require tailored thermal systems. HVAC systems are essential for driver comfort, while engine cooling and emissions control solutions optimize performance for these workhorse vehicles. Luxury and high-performance vehicles set high standards for cabin comfort. Advanced HVAC technologies, such as multi-zone climate control and air purification systems, are integrated. Engine cooling solutions are finely tuned to support high-performance engines. Off-road and all-terrain vehicles operate in extreme conditions. Their thermal systems are built for durability and resilience, ensuring efficient cooling during demanding off-road excursions.

Compact and subcompact cars prioritize efficiency and space utilization. Thermal systems in these vehicles aim to provide adequate cabin climate control while optimizing space for other vehicle components. In conclusion, the Global Passenger Car Thermal System Market adapts thermal solutions to meet the distinct requirements of various vehicle types. Whether enhancing passenger comfort, optimizing performance, or managing battery temperatures in electrified vehicles, thermal systems play a vital role in addressing the specific needs of each segment.

By Propulsion

Vehicles equipped with traditional internal combustion engines rely on thermal systems for engine cooling and exhaust gas management. Efficient radiators and cooling fans maintain optimal engine temperatures, while HVAC systems provide cabin climate control. The challenge lies in balancing engine cooling with passenger comfort and emissions control.

Hybrid Propulsion (HEV): Hybrid vehicles combine internal combustion engines with electric propulsion. Thermal systems in HEVs must seamlessly manage the integration of these power sources. They optimize engine efficiency, battery thermal management, and cabin climate control, ensuring a smooth transition between electric and gasoline modes.

Plug-in Hybrid Electric Vehicle (PHEV): PHEVs share similarities with HEVs but offer extended electric-only driving capabilities. Thermal systems play a crucial role in battery temperature regulation, ensuring efficient battery operation in both electric and hybrid modes. Additionally, these systems contribute to engine efficiency during hybrid operation.

Battery Electric Vehicle (BEV): BEVs exclusively rely on electric propulsion, making efficient battery thermal management paramount. Liquid cooling systems, phase-change materials, and advanced insulation are essential components to maintain optimal battery temperatures. Effective thermal management ensures safety and extends battery life.

Fuel Cell Electric Vehicle (FCEV): FCEVs utilize hydrogen fuel cells to generate electricity. Thermal systems in FCEVs manage the heat generated during the electrochemical process. Effective cooling solutions are critical to maintaining fuel cell stack temperatures within the optimal range for efficient electricity production.

Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG): Vehicles powered by CNG or LPG engines rely on thermal systems for engine cooling and exhaust gas management. These systems optimize combustion efficiency and emissions control for alternative fuel vehicles, while also ensuring passenger comfort.

Hydrogen Fuel Cell: Hydrogen fuel cell vehicles generate electricity from hydrogen gas. Thermal systems play a pivotal role in maintaining fuel cell stack temperatures within the optimal range for efficient electricity production. Cooling solutions are essential to prevent overheating and ensure consistent power generation.

Mild and Full Hybridization: Mild and full hybrid systems represent varying degrees of electrification in ICE vehicles. Thermal systems in these hybrids optimize engine efficiency, recover and store energy during braking and deceleration, and manage cabin climate control. The challenge is to adapt thermal solutions to the specific hybridization level, balancing performance and efficiency.

In summary, the Global Passenger Car Thermal System Market caters to a diverse range of propulsion systems, addressing the unique thermal requirements of each technology. From traditional ICE vehicles to advanced BEVs and FCEVs, thermal solutions play a critical role in optimizing vehicle performance, safety, and passenger comfort within the context of evolving propulsion technologies..

Download Free Sample Report

Regional Insights

North America, thermal systems cater to a wide range of climates, from freezing winters in Canada to scorching summers in the southern United States. HVAC systems are critical for passenger comfort. Stringent emissions regulations in the United States drive innovations in exhaust gas management, while the growing popularity of electric vehicles (EVs) fuels demand for advanced battery thermal management systems.

Europe places a strong emphasis on sustainability and emissions reduction. Thermal systems play a crucial role in meeting stringent emissions standards, particularly in diesel-powered vehicles. The transition to electric mobility is significant, with a growing market for EVs and plug-in hybrids. European consumers prioritize cabin comfort, driving innovations in HVAC systems and air quality features.

The Asia-Pacific region is a hotbed of automotive production and consumption. Consumer preferences vary widely across countries, influencing thermal system design. The adoption of EVs is rapidly increasing, particularly in countries like China and Japan. Battery thermal management solutions are in high demand. Moreover, air conditioning is essential in hot and humid climates, leading to advancements in HVAC technology. Latin America exhibits diverse climates, from tropical to temperate. Thermal systems focus on maintaining passenger comfort, with efficient air conditioning systems playing a pivotal role. The market is also influenced by economic factors, affecting the affordability and demand for thermal solutions, including those in EVs.

In regions with extreme heat, such as the Middle East and parts of Africa, effective thermal systems are essential. HVAC systems are critical for cabin cooling, while engine cooling solutions are designed to withstand high temperatures. Electric mobility is gaining traction, driven by sustainability goals and government initiatives.

Emerging markets, including parts of Southeast Asia, South America, and Africa, present opportunities, and challenges. These regions often have unique climate conditions and evolving consumer preferences. Affordable thermal solutions are essential in these markets, both for traditional ICE vehicles and the emerging EV segment.

In summary, regional insights into the Global Passenger Car Thermal System Market reveal a dynamic landscape influenced by climate, regulations, and consumer behaviors. The shift towards electrification, the importance of emissions control, and the pursuit of sustainable solutions are common trends across regions, shaping the development and adoption of thermal systems in passenger vehicles....

Recent Developments

In Apr 2022, Denso Corp. has secured contracts to provide essential electrification components, including thermal management systems like heat pump systems and radiant heating systems, for Toyota and Subaru's upcoming all-electric models, the bZ4X and SOLTERRA. The Toyota electric bZ4X is scheduled for release in May 2022, while the Subaru SOLTERRA is anticipated to make its debut in the middle of 2022. Denso Corp. will play a crucial role in enhancing the performance and efficiency of these electric vehicles with its advanced thermal management solutions.

Key Market Players

Robert Bosch GmbH
Dana Incorporated
MAHLE GmbH
Gentherm Incorporated
Hanon Systems
Denso Corporation
BorgWarner Inc.
Valeo Group
Modine Manufacturing Company
Schaeffler Technologies AG & Co. KG

By Vehicle Type	By Application	By Propulsion	By Region
SUV MUV Sedan Hatchback	HVAC Powertrain Cooling Fluid Transport Others	ICE Vehicles Electric Vehicles Hybrid Vehicles	North America Europe & CIS Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Passenger Car Thermal System Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Passenger Car Thermal System Market, By Vehicle Type:

o SUV

o MUV

o Sedan

o Hatchback

Passenger Car Thermal System Market, By Application:

o HVAC

o Powertrain Cooling

o Fluid Transport

o Others

Passenger Car Thermal System Market, By Propulsion:

o ICE Vehicles

o Electric Vehicles

o Hybrid Vehicles

Passenger Car Thermal System Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe & CIS

§ Germany

§ Spain

§ France

§ Russia

§ Italy

§ United Kingdom

§ Belgium

o Asia-Pacific

§ China

§ India

§ Japan

§ Indonesia

§ Thailand

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ Turkey

§ Iran

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Passenger Car Thermal System Market.

Available Customizations:

Global Passenger Car Thermal System Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Passenger Car Thermal System Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Market Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global Passenger Car Thermal System Market

5. Global Passenger Car Thermal System Market Outlook

5.1. Market Size & Forecast

5.1.1. By Volume & Value

5.2. Market Share & Forecast

5.2.1. By Vehicle Type Market Share Analysis (SUV, MUV, Sedan, Hatchback)

5.2.2. By Application Market Share Analysis (HVAC, Powertrain Cooling, Fluid Transport, Others)

5.2.3. By Propulsion Market Share Analysis (ICE Vehicles, Electric and Hybrid Vehicles)

5.2.4. By Regional Market Share Analysis

5.2.4.1. Asia-Pacific Market Share Analysis

5.2.4.2. Europe & CIS Market Share Analysis

5.2.4.3. North America Market Share Analysis

5.2.4.4. South America Market Share Analysis

5.2.4.5. Middle East & Africa Market Share Analysis

5.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3. Global Passenger Car Thermal System Market Mapping & Opportunity Assessment

5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2. By Application Market Mapping & Opportunity Assessment

5.3.3. By Propulsion Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific Passenger Car Thermal System Market Outlook

6.1. Market Size & Forecast

6.1.1. By Volume & Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type Market Share Analysis

6.2.2. By Application Market Share Analysis

6.2.3. By Propulsion Market Share Analysis

6.2.4. By Country Market Share Analysis

6.2.4.1. China Market Share Analysis

6.2.4.2. India Market Share Analysis

6.2.4.3. Japan Market Share Analysis

6.2.4.4. Indonesia Market Share Analysis

6.2.4.5. Thailand Market Share Analysis

6.2.4.6. South Korea Market Share Analysis

6.2.4.7. Australia Market Share Analysis

6.2.4.8. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Country Analysis

6.3.1. China Passenger Car Thermal System Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Volume & Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Vehicle Type Market Share Analysis

6.3.1.2.2. By Application Market Share Analysis

6.3.1.2.3. By Propulsion Market Share Analysis

6.3.2. India Passenger Car Thermal System Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Volume & Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Vehicle Type Market Share Analysis

6.3.2.2.2. By Application Market Share Analysis

6.3.2.2.3. By Propulsion Market Share Analysis

6.3.3. Japan Passenger Car Thermal System Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Volume & Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Vehicle Type Market Share Analysis

6.3.3.2.2. By Application Market Share Analysis

6.3.3.2.3. By Propulsion Market Share Analysis

6.3.4. Indonesia Passenger Car Thermal System Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Volume & Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Vehicle Type Market Share Analysis

6.3.4.2.2. By Application Market Share Analysis

6.3.4.2.3. By Propulsion Market Share Analysis

6.3.5. Thailand Passenger Car Thermal System Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Volume & Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Vehicle Type Market Share Analysis

6.3.5.2.2. By Application Market Share Analysis

6.3.5.2.3. By Propulsion Market Share Analysis

6.3.6. South Korea Passenger Car Thermal System Market Outlook

6.3.6.1. Market Size & Forecast

6.3.6.1.1. By Volume & Value

6.3.6.2. Market Share & Forecast

6.3.6.2.1. By Vehicle Type Market Share Analysis

6.3.6.2.2. By Application Market Share Analysis

6.3.6.2.3. By Propulsion Market Share Analysis

6.3.7. Australia Passenger Car Thermal System Market Outlook

6.3.7.1. Market Size & Forecast

6.3.7.1.1. By Volume & Value

6.3.7.2. Market Share & Forecast

6.3.7.2.1. By Vehicle Type Market Share Analysis

6.3.7.2.2. By Application Market Share Analysis

6.3.7.2.3. By Propulsion Market Share Analysis

7. Europe & CIS Passenger Car Thermal System Market Outlook

7.1. Market Size & Forecast

7.1.1. By Volume & Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type Market Share Analysis

7.2.2. By Application Market Share Analysis

7.2.3. By Propulsion Market Share Analysis

7.2.4. By Country Market Share Analysis

7.2.4.1. Germany Market Share Analysis

7.2.4.2. Spain Market Share Analysis

7.2.4.3. France Market Share Analysis

7.2.4.4. Russia Market Share Analysis

7.2.4.5. Italy Market Share Analysis

7.2.4.6. United Kingdom Market Share Analysis

7.2.4.7. Belgium Market Share Analysis

7.2.4.8. Rest of Europe & CIS Market Share Analysis

7.3. Europe & CIS: Country Analysis

7.3.1. Germany Passenger Car Thermal System Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Volume & Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Vehicle Type Market Share Analysis

7.3.1.2.2. By Application Market Share Analysis

7.3.1.2.3. By Propulsion Market Share Analysis

7.3.2. Spain Passenger Car Thermal System Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Volume & Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Vehicle Type Market Share Analysis

7.3.2.2.2. By Application Market Share Analysis

7.3.2.2.3. By Propulsion Market Share Analysis

7.3.3. France Passenger Car Thermal System Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Volume & Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Vehicle Type Market Share Analysis

7.3.3.2.2. By Application Market Share Analysis

7.3.3.2.3. By Propulsion Market Share Analysis

7.3.4. Russia Passenger Car Thermal System Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Volume & Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Vehicle Type Market Share Analysis

7.3.4.2.2. By Application Market Share Analysis

7.3.4.2.3. By Propulsion Market Share Analysis

7.3.5. Italy Passenger Car Thermal System Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Volume & Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Vehicle Type Market Share Analysis

7.3.5.2.2. By Application Market Share Analysis

7.3.5.2.3. By Propulsion Market Share Analysis

7.3.6. United Kingdom Passenger Car Thermal System Market Outlook

7.3.6.1. Market Size & Forecast

7.3.6.1.1. By Volume & Value

7.3.6.2. Market Share & Forecast

7.3.6.2.1. By Vehicle Type Market Share Analysis

7.3.6.2.2. By Application Market Share Analysis

7.3.6.2.3. By Propulsion Market Share Analysis

7.3.7. Belgium Passenger Car Thermal System Market Outlook

7.3.7.1. Market Size & Forecast

7.3.7.1.1. By Volume & Value

7.3.7.2. Market Share & Forecast

7.3.7.2.1. By Vehicle Type Market Share Analysis

7.3.7.2.2. By Application Market Share Analysis

7.3.7.2.3. By Propulsion Market Share Analysis

8. North America Passenger Car Thermal System Market Outlook

8.1. Market Size & Forecast

8.1.1. By Volume & Value

8.2. Market Share & Forecast

8.2.1. By Vehicle Type Market Share Analysis

8.2.2. By Application Market Share Analysis

8.2.3. By Propulsion Market Share Analysis

8.2.4. By Country Market Share Analysis

8.2.4.1. United States Market Share Analysis

8.2.4.2. Mexico Market Share Analysis

8.2.4.3. Canada Market Share Analysis

8.3. North America: Country Analysis

8.3.1. United States Passenger Car Thermal System Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Volume & Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Vehicle Type Market Share Analysis

8.3.1.2.2. By Application Market Share Analysis

8.3.1.2.3. By Propulsion Market Share Analysis

8.3.2. Mexico Passenger Car Thermal System Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Volume & Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Vehicle Type Market Share Analysis

8.3.2.2.2. By Application Market Share Analysis

8.3.2.2.3. By Propulsion Market Share Analysis

8.3.3. Canada Passenger Car Thermal System Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Volume & Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Vehicle Type Market Share Analysis

8.3.3.2.2. By Application Market Share Analysis

8.3.3.2.3. By Propulsion Market Share Analysis

9. South America Passenger Car Thermal System Market Outlook

9.1. Market Size & Forecast

9.1.1. By Volume & Value

9.2. Market Share & Forecast

9.2.1. By Vehicle Type Market Share Analysis

9.2.2. By Application Market Share Analysis

9.2.3. By Propulsion Market Share Analysis

9.2.4. By Country Market Share Analysis

9.2.4.1. Brazil Market Share Analysis

9.2.4.2. Argentina Market Share Analysis

9.2.4.3. Colombia Market Share Analysis

9.2.4.4. Rest of South America Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil Passenger Car Thermal System Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Volume & Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Vehicle Type Market Share Analysis

9.3.1.2.2. By Application Market Share Analysis

9.3.1.2.3. By Propulsion Market Share Analysis

9.3.2. Colombia Passenger Car Thermal System Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Volume & Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Vehicle Type Market Share Analysis

9.3.2.2.2. By Application Market Share Analysis

9.3.2.2.3. By Propulsion Market Share Analysis

9.3.3. Argentina Passenger Car Thermal System Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Volume & Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Vehicle Type Market Share Analysis

9.3.3.2.2. By Application Market Share Analysis

9.3.3.2.3. By Propulsion Market Share Analysis

10. Middle East & Africa Passenger Car Thermal System Market Outlook

10.1. Market Size & Forecast

10.1.1. By Volume & Value

10.2. Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Application Market Share Analysis

10.2.3. By Propulsion Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1. Turkey Market Share Analysis

10.2.4.2. Iran Market Share Analysis

10.2.4.3. Saudi Arabia Market Share Analysis

10.2.4.4. UAE Market Share Analysis

10.2.4.5. Rest of Middle East & Africa Market Share Africa

10.3. Middle East & Africa: Country Analysis

10.3.1. Turkey Passenger Car Thermal System Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Volume & Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Vehicle Type Market Share Analysis

10.3.1.2.2. By Application Market Share Analysis

10.3.1.2.3. By Propulsion Market Share Analysis

10.3.2. Iran Passenger Car Thermal System Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Volume & Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Vehicle Type Market Share Analysis

10.3.2.2.2. By Application Market Share Analysis

10.3.2.2.3. By Propulsion Market Share Analysis

10.3.3. Saudi Arabia Passenger Car Thermal System Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Volume & Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Vehicle Type Market Share Analysis

10.3.3.2.2. By Application Market Share Analysis

10.3.3.2.3. By Propulsion Market Share Analysis

10.3.4. UAE Passenger Car Thermal System Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Volume & Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Vehicle Type Market Share Analysis

10.3.4.2.2. By Application Market Share Analysis

10.3.4.2.3. By Propulsion Market Share Analysis

11. SWOT Analysis

11.1. Strength

11.2. Weakness

11.3. Opportunities

11.4. Threats

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Company Profiles (Up to 10 Major Companies)

14.1.1. Robert Bosch GmbH

14.1.1.1. Company Details

14.1.1.2. Key Product Offered

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Recent Developments

14.1.1.5. Key Management Personnel

14.1.2. Dana Incorporated

14.1.2.1. Company Details

14.1.2.2. Key Product Offered

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Recent Developments

14.1.2.5. Key Management Personnel

14.1.3. MAHLE GmbH

14.1.3.1. Company Details

14.1.3.2. Key Product Offered

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Recent Developments

14.1.3.5. Key Management Personnel

14.1.4. Gentherm Incorporated

14.1.4.1. Company Details

14.1.4.2. Key Product Offered

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Recent Developments

14.1.4.5. Key Management Personnel

14.1.5. Hanon Systems

14.1.5.1. Company Details

14.1.5.2. Key Product Offered

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Recent Developments

14.1.5.5. Key Management Personnel

14.1.6. Denso Corporation

14.1.6.1. Company Details

14.1.6.2. Key Product Offered

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Recent Developments

14.1.6.5. Key Management Personnel

14.1.7. BorgWarner Inc.

14.1.7.1. Company Details

14.1.7.2. Key Product Offered

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Recent Developments

14.1.7.5. Key Management Personnel

14.1.8. Valeo Group

14.1.8.1. Company Details

14.1.8.2. Key Product Offered

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Recent Developments

14.1.8.5. Key Management Personnel

14.1.9. Modine Manufacturing Company

14.1.9.1. Company Details

14.1.9.2. Key Product Offered

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Recent Developments

14.1.9.5. Key Management Personnel

14.1.10. Schaeffler Technologies AG & Co. KG

14.1.10.1. Company Details

14.1.10.2. Key Product Offered

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Recent Developments

14.1.10.5. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Vehicle Type

15.1.3. Target Component

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Passenger Car Thermal System Market in 2022?

The Global Passenger Car Thermal System Market size reached USD 42.61 billion in 2022

Which was the dominant segment By Vehicle Type in the Global Passenger Car Thermal System Market in 2022?

The SUV segment has firmly established its dominance in the global automotive market. Characterized by versatility, ample cabin space, and robust performance capabilities, SUVs have become the preferred choice for consumers worldwide. This segment continues to expand with a diverse range of SUV models, including compact crossovers, mid-size SUVs, and full-size SUVs, catering to various preferences and needs. With their widespread popularity, SUVs have reshaped the automotive landscape, influencing design trends, technological advancements, and consumer preferences.

Which is the dominant region in the Global Passenger Car Thermal System Market?

Asia-Pacific stands as the dominant region in the Global Passenger Car Thermal System Market. This region, home to major automotive manufacturers, experiences high vehicle production volumes. The robust automotive industry, coupled with diverse climate conditions, drives the demand for efficient thermal systems in passenger cars, cementing Asia-Pacific's leadership in this market.

What are the major drivers for the Global Passenger Car Thermal System Market?

The Global Passenger Car Thermal System Market is primarily driven by three key factors. First, stringent emissions regulations worldwide require advanced thermal management solutions to optimize combustion efficiency and reduce emissions. Second, the rising demand for electric vehicles necessitates efficient battery thermal management systems. Third, consumer expectations for enhanced cabin comfort drive the development of innovative heating, ventilation, and air conditioning (HVAC) systems, further boosting the market for thermal systems in passenger cars.

Related Reports

Srishti Verma

Business Consultant

Talk To Analyst

Press Release

Global Passenger Car Thermal System Market to Grow with a CAGR of 6.31% through 2028

Nov, 2023

Stringent emissions regulations worldwide require advanced thermal management solutions to optimize combustion efficiency and reduce emissions and rising demand for electric vehicles are the factors

Buy Now