Transparency
Market Research recently published a report titled, “Automotive
Thermal System Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 – 2020”. According to the
report, the global automotive thermal systems market is poised to
register a positive CAGR of 6.0% between 2014 and 2020. The market
was valued at US$32.20 billion in 2013, however, by 2020 it is
expected to reach a worth of US$48.48 billion.
Escalating
demand for automotive heating and ventilation system and introduction
of robust technologies in advanced heating, ventilating, and air
conditioning systems are expected to drive the market for automotive
thermal system in the forecast period. However, the high cost of
thermal systems will emerge as a major concern for manufacturers,
hindering market growth to an extent. Nevertheless, the report
projects the advent of new technologies in the market, which is
expected to expand opportunities for vendors to capitalize on in the
near future.
On
the basis of components, the global market for automotive thermal
systems can be segmented into powertrain cooling, fluid transport,
and HVAC systems. Of these, HVAC systems dominated the market in
2014, accounting for 54.64% of the total market.
Press
Release:
http://www.transparencymarketresearch.com/pressrelease/automotive-thermal-system-market.htm
According
to the report, intensifying emission norms and stringent pollution
control regulations are expected to drive the market in the forecast
period. In addition, increasing demand for thermal systems that run
on bio-alcohol, ethanol, liquid hydrogen, and P-Series fuels will
propel the market substantially.
Geographically,
Asia Pacific led the automotive thermal systems market in 2014. The
region accounted for 34.40% of the total market share. Rapid growth
of the automobile industry coupled with increasing disposable income,
and high demand for vehicles across emerging economies will drive the
market for automotive thermal system in Asia Pacific.
Browse
All Semiconductor & Electronics Market Reports:
http://www.transparencymarketresearch.com/semiconductor-market-reports-5.html
About
TMR
Transparency
Market Research (TMR) is a U.S. based market intelligence company
driven by high-pedigree consultants and researchers. TMR leverages
its Syndicated Research, Custom Research, and Market Consulting
expertise to help businesses make accurate decisions. TMR’s
exclusive blend of quantitative forecasting and trends analysis draws
on proprietary data sources and techniques, while their data
repository is continuously updated to reflect the latest trends.
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Market Research
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