Automotive Thermal System Market is expected to reach USD 48.48 Billion in 2020

According to a new market report published by Transparency Market Research ?Automotive Thermal System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,? the automotive thermal system market was valued at USD 32.20 billion in 2013, which is expected to reach USD 48.48 billion by 2020, growing at a CAGR of 6.0% from 2014 to 2020.

Browse the full Automotive Thermal System Market report at http://www.transparencymarketresearch.com/automotive-thermal-system-market.html

The automotive thermal system is expected to experience growth due to increase in requirement for automotive heating and ventilation system and implementation of technologically advanced heating, ventilating, and air conditioning (HVAC) system. High cost factor is one of the major restraints to the growth of the automotive thermal system market. Advanced and improved technology comes at a higher cost.

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By components, automotive thermal system market is segmented into compressor, HVAC system, powertrain cooling and fluid transport. HVAC system led the market with a share of 54.64% in 2014. In addition, emission norms and stringent pollution guideline are further driving the automotive thermal system market in the forecast period. Increasing demand for thermal systems that run on alternative fuels such as bio-alcohols, liquid hydrogen, propane, P-Series fuels, and ethanol is expected to drive the thermal system market

In 2014, the automotive thermal system market was led by Asia Pacific with a share of 34.40% In Asia Pacific, China and India are the key market for automotives sector. The demand for air conditioning systems in commercial vehicles is driving the overall market in the Asia-Pacific. Increasing demand of vehicles in developing countries has helped the growth of HVAC systems. In addition, increase in disposable income in the developing countries of Asia-Pacific is a key driver for the growth in demand of the automobile industry which is in turn is driving the overall market.

Behr GmbH & Co. KG, Denso Corporation, Gentherm, Valeo, Delphi Automotive Plc and Visteon Corp are some of the key players in this market.

The market has been segmented as follows:

Global Automotive Thermal System Market: By Geography

North America
Europe
Asia Pacific
Rest of the World

The report provides a cross-sectional analysis of all the below segments with respect to the above mentioned regions.

Global Automotive Thermal System Market: By Component

Compressor
HVACs
Powertrain Cooling
Fluid transport

Browse the full Automotive Thermal System Market press release at http://www.transparencymarketresearch.com/pressrelease/automotive-thermal-system-market.htm

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