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In 2022, the market for automotive thermal systems in commercial vehicles was estimated to be worth USD 15.29 billion. By 2030, the market is anticipated to have grown from USD 15.09 billion in 2023 to USD 20.99 billion, registering a CAGR of 5.83% throughout that time. The COVID-19 pandemic has had a devastating and unprecedented impact on the world, and demand for commercial vehicle automotive thermal systems has been lower than expected in all countries compared to pre-pandemic levels. According to our research, the market for commercial vehicles' automotive thermal systems fell by 4.74% in 2020 compared to 2019.
A commercial vehicle's automotive thermal system uses technology to regulate temperature so that all components are kept within their individual ideal temperature ranges. The concepts of thermodynamics and heat transport are the foundation of this technology. The word "thermal management" refers to a broad category of operations involving several types of heat transmission, including convection, conduction, and radiation. Engine cooling and air conditioning systems make to the current thermal management system.
Regional or global manufacturers are required to adhere to the regulations set forth by the international regulating organisations regarding emission requirements. The criteria, however, differ in accordance with how different areas and nations regulate emissions. For instance, in Europe and the United States, emission reduction is required. The upgrade of engine technology to Euro IV, V, or VI has been ordered by the European Commission and the U.S. EPA. This has increased demand in Asian nations including India, Japan, South Korea, and China for enhanced thermal technologies that adhere to the updated emission requirements. South Africa, however, lacks such a mandate or regulation. As a result, the standardisation of manufacturing-related regulations and thermal system emissions may present profitable prospects for commercial vehicle automotive thermal system producers, particularly in emerging nations. A stable and consistent manufacturing ecosystem will be produced.
DRIVING FACTORS
Due to compliance with emission rules, improvements in thermal systems may result in a reduction in CO2 emissions. Additionally, it increases vehicle efficiency by carefully controlling the heating and cooling systems and recycling any leftover heat. Engine thermal mass reduction, thermal electric exhaust heat recovery systems, integrated liquid-cooled exhaust/EGR, and dynamic engine thermal control are just a few of the thermal systems available in luxury vehicles that help them achieve their lower CO2 emission targets. OEMs are investing in R&D initiatives to introduce these technologies to the commercial vehicle industry, including Mahle and Continental. Controlling GHG emissions from automobiles, particularly commercial vehicles, has also become a serious concern as a result of the rise in worldwide vehicle sales. To address this issue, the United States Environmental Protection Agency (U.S. EPA) and the European Commission (EC) have required and regulated fuel economy criteria.
RESTRAINING FACTORS
In order to meet strict pollution and fuel efficiency requirements, OEMs have incorporated new technologies. In addition, rising demand for truck comfort features has forced manufacturers to concentrate on in-vehicle thermal systems and the drivetrain, powertrain, and drivetrain. The effectiveness of an automotive thermal system for commercial vehicles can be determined by weighing the system's cost against the CO2 savings it produces. Additionally, some of the top truck manufacturers, like Paccar, Daimler, Bharat Benz, and Tata Motors, have already embraced and implemented innovations with maximised CO2 reductions.
In their premium models, they have incorporated technology such polymer material heat exchangers, integrated liquid-cooled exhaust/EGR, variable engine oil pumps, and engine thermal mass reduction. Only a few of the more than 60 thermal system technologies are now in use because of their low cost to benefit ratio. Therefore, the high cost may be a barrier to the expansion of the global market for automotive thermal systems in commercial vehicles.
Report Coverage
Global Commercial Vehicle Automotive Thermal System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Commercial Vehicle Automotive Thermal System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Commercial Vehicle Automotive Thermal System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Commercial Vehicle Automotive Thermal System market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Commercial Vehicle Automotive Thermal System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Commercial Vehicle Automotive Thermal System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BorgWarner (U.S.), Dana Incorporated (U.S.), Grayson Thermal Systems (U.K.), Hanon Systems (South Korea), Eberspacher (Germany), Valeo SA (France), Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH. (Germany), Mahle GmbH (Germany)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Commercial Vehicle Automotive Thermal System market based on the below-mentioned segments:
Global Commercial Vehicle Automotive Thermal System Market, By Vehicle Type
Light Commercial Vehicle (LCV)
Medium Commercial Vehicle (MCV)
Heavy Commercial Vehicle (HCV)
Global Commercial Vehicle Automotive Thermal System market, By Application
Front & Rear A/C
Engine & Transmission
Seat
Battery
Waste Heat Recovery
Power Electronics
Motor
Global Commercial Vehicle Automotive Thermal System Market, By Component
HVAC
Powertrain Cooling
Fluid Transport
Others
Global Commercial Vehicle Automotive Thermal System market, Regional Analysis
A commercial vehicle's automotive thermal system uses technology to regulate temperature so that all components are kept within their individual ideal temperature ranges. The concepts of thermodynamics and heat transport are the foundation of this technology. The word "thermal management" refers to a broad category of operations involving several types of heat transmission, including convection, conduction, and radiation. Engine cooling and air conditioning systems make to the current thermal management system.
Regional or global manufacturers are required to adhere to the regulations set forth by the international regulating organisations regarding emission requirements. The criteria, however, differ in accordance with how different areas and nations regulate emissions. For instance, in Europe and the United States, emission reduction is required. The upgrade of engine technology to Euro IV, V, or VI has been ordered by the European Commission and the U.S. EPA. This has increased demand in Asian nations including India, Japan, South Korea, and China for enhanced thermal technologies that adhere to the updated emission requirements. South Africa, however, lacks such a mandate or regulation. As a result, the standardisation of manufacturing-related regulations and thermal system emissions may present profitable prospects for commercial vehicle automotive thermal system producers, particularly in emerging nations. A stable and consistent manufacturing ecosystem will be produced.
DRIVING FACTORS
Due to compliance with emission rules, improvements in thermal systems may result in a reduction in CO2 emissions. Additionally, it increases vehicle efficiency by carefully controlling the heating and cooling systems and recycling any leftover heat. Engine thermal mass reduction, thermal electric exhaust heat recovery systems, integrated liquid-cooled exhaust/EGR, and dynamic engine thermal control are just a few of the thermal systems available in luxury vehicles that help them achieve their lower CO2 emission targets. OEMs are investing in R&D initiatives to introduce these technologies to the commercial vehicle industry, including Mahle and Continental. Controlling GHG emissions from automobiles, particularly commercial vehicles, has also become a serious concern as a result of the rise in worldwide vehicle sales. To address this issue, the United States Environmental Protection Agency (U.S. EPA) and the European Commission (EC) have required and regulated fuel economy criteria.
RESTRAINING FACTORS
In order to meet strict pollution and fuel efficiency requirements, OEMs have incorporated new technologies. In addition, rising demand for truck comfort features has forced manufacturers to concentrate on in-vehicle thermal systems and the drivetrain, powertrain, and drivetrain. The effectiveness of an automotive thermal system for commercial vehicles can be determined by weighing the system's cost against the CO2 savings it produces. Additionally, some of the top truck manufacturers, like Paccar, Daimler, Bharat Benz, and Tata Motors, have already embraced and implemented innovations with maximised CO2 reductions.
In their premium models, they have incorporated technology such polymer material heat exchangers, integrated liquid-cooled exhaust/EGR, variable engine oil pumps, and engine thermal mass reduction. Only a few of the more than 60 thermal system technologies are now in use because of their low cost to benefit ratio. Therefore, the high cost may be a barrier to the expansion of the global market for automotive thermal systems in commercial vehicles.
Report Coverage
Global Commercial Vehicle Automotive Thermal System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Commercial Vehicle Automotive Thermal System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Commercial Vehicle Automotive Thermal System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Commercial Vehicle Automotive Thermal System market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | BorgWarner (U.S.), Dana Incorporated (U.S.), Grayson Thermal Systems (U.K.), Hanon Systems (South Korea), Eberspacher (Germany), Valeo SA (France), Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH. (Germany), Mahle GmbH (Germany) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Commercial Vehicle Automotive Thermal System Market from 2021 to 2030.
- Market Forecast for Commercial Vehicle Automotive Thermal System Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Commercial Vehicle Automotive Thermal System competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Commercial Vehicle Automotive Thermal System
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Commercial Vehicle Automotive Thermal System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Commercial Vehicle Automotive Thermal System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BorgWarner (U.S.), Dana Incorporated (U.S.), Grayson Thermal Systems (U.K.), Hanon Systems (South Korea), Eberspacher (Germany), Valeo SA (France), Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH. (Germany), Mahle GmbH (Germany)
Primary Target Market
- Market Players of Commercial Vehicle Automotive Thermal System
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Commercial Vehicle Automotive Thermal System market based on the below-mentioned segments:
Global Commercial Vehicle Automotive Thermal System Market, By Vehicle Type
Light Commercial Vehicle (LCV)
Medium Commercial Vehicle (MCV)
Heavy Commercial Vehicle (HCV)
Global Commercial Vehicle Automotive Thermal System market, By Application
Front & Rear A/C
Engine & Transmission
Seat
Battery
Waste Heat Recovery
Power Electronics
Motor
Global Commercial Vehicle Automotive Thermal System Market, By Component
HVAC
Powertrain Cooling
Fluid Transport
Others
Global Commercial Vehicle Automotive Thermal System market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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