Global Market study on Automotive Thermostat: Passenger Cars to Grab Maximum Revenue Share Through 2025


Automotive Thermostat Market
  • Report code : PMRREP21682 |
  • Industry : Automotive |
  • Published On : Jan-2018 |
  • Pages : 254 Pages |
  • Format :

Our new report on the global automotive thermostat market presents market forecasts for the projected period of eight years, i.e. between 2017 and 2025. The uniqueness of this report lies in the market share analysis and while working extensively on this report, our expert team of analysts have covered expert validation, product mapping, segmental revenue and company financials. The company share analysis represents estimated market share for manufacturers and suppliers of automotive thermostat based on their segmental revenue and product offerings. The market is subject to volatility due to recent divestments, expansions and mergers & acquisitions of players in the market. Our report on the global automotive thermostat market encases the volume sales and the respective value generated from the sales of automotive thermostat. The report covers sales of thermostats equipped in engine thermal management and seat heaters used in passenger cars, light commercial vehicles and heavy commercial vehicles. The report gives a holistic view of the market and highlights sales through the OEM and aftermarket sales channel.

Automotive Thermostat Market Share Analysis  

We have validated the data through several primary interviews with industry experts and exhaustive secondary research. The product mapping of automotive thermostat manufacturers in the respective business segments of the company has been done to give a crystal clear market share scenario to our existing and potential clients. We have also included a competitive analysis that covers intelligence on key players operating in the global automotive thermostat market. Revenue of the manufacturers involved in automotive thermostats is covered in this section.

Forecast Assumptions and Market Sizing

When developing the market forecast, we have started by sizing the current market, which forms the basis for forecasting. We have considered the product-wise weighted Average Selling Price (ASP) to deduce market values at a regional level. We have also used the bottom-up approach that counter-validates the analysed numbers and end-use industry application-wise market numbers, along with a top-down approach that has been used to assess market numbers for each vehicle type. Macroeconomic indicators, such as GDP, manufacturing sector growth, global trade statistics and household final expenditure have been covered. All values for market size are in US$ Mn (US Dollar-Million) and volume data are in units unless specified otherwise. BPS sum may not be equal to 100, due to rounding off of numbers.

Market Segmentation

By Design

  • Single Valve
  • Dual Valve

By Sales Channel

  • OEM
  • Aftermarket

By Vehicle Type

  • PC
  • LCV
  • HCV

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)

Research Methodology

We have adopted a systematic research approach while inspecting this report. In-depth secondary research is used to arrive at an overall market size, top industry players, top products and industry associations. Our analysts have formulated a detailed discussion guide in order to conduct interviews with industry experts, industry players, distributors and retailers. Data is validated by a triangulation method. We have also analysed various companies’ annual reports, investor presentations, SEC filings and press releases associated with automotive thermostat market to fetch substantial information about the market size, trends, opportunities, drivers, restraints.

Innovation anticipated to remain a key product differentiation strategy for manufacturers to sustain in this competitive market

Strengthening of the supply chain, particularly in regions such as APAC and North America, is the key focus area of players involved in automotive thermostats. Continuous product innovation is the key strategy of major players to enhance customer base and market share. Well-structured and efficient supply chain network are major growth strategies for reaching out to customer in this market. APAC is expected to be an opportunistic market with respect to demand. Companies are expanding their footprint to cater to the demand for luxury and premium automobiles in the APAC region. In terms of value, Europe has been estimated to account for the largest share in the global automotive thermostat market. The market in MEA is in the nascent stage, primarily due to low automotive production and vehicle parc.

Passenger car segment anticipated to account for a dominant share in the global automotive thermostat market throughout the forecast period

The passenger car segment is expected to remain the most attractive segment throughout the forecast period in the global automotive thermostat market. This segment has a higher index value in terms of market share and incremental $ opportunity. The LCV segment is expected to remain relatively less attractive in terms of growth rate and market share. The HCV segment is expected to have a high CAGR, but the segment will have a minimal market share throughout the forecast period. There is a remarkable improvement in trade and transportation globally and this is resulting in an upsurge in the production of light commercial vehicles. In the coming years, the increasing demand for light commercial vehicles globally is estimated to drive the market for more advanced light commercial vehicles, which in turn would fuel the demand for thermostats.

automotive thermostat market

Increasing sales of premium vehicles likely to boost the global automotive thermostat market

U.S and Germany regions are known as the hub for the supply of premium vehicles. The U.S. region is one of the leading markets for premium vehicles. The global market for automotive thermostats is likely to expand at a higher rate, U.S. being a major growth contributor. As U.S. has prominent vehicle manufacturers, OEMs are focusing on installing innovative and quality products like automotive thermostats that ensure proper and smooth functioning of vehicles. All these factors are likely to create a positive impact on the global automotive thermostat market.

Fuel efficient and emission free vehicle is the need of the day and hence manufacturers across the globe are taking efforts to produce such automobiles. Consequently, the global market for automotive thermostats is witnessing a boost in the overall production of hybrid vehicles since past few years which is expected to grow remarkably in the coming decade. The increasing adoption of automotive thermostats due to the increase in automobile manufacturing is expected to drive the global automotive thermostat market.

Rapidly growing industries along with increasing urbanization in various countries of APAC is ensuing an improvement in the standard of living which is a main factor responsible for an increase in the automobile production and vehicle parc in the developing regions.   

Future scenario of the global automotive thermostat market

Presently, only luxury automakers such as BMW, Audi, General Motors, Ford, etc. and other OEMs such as Toyota, Hyundai etc., equip few of their vehicles with electronic thermostats. Presently heavy commercial vehicles are equipped with a mechanical type of thermostat. With the growing electronification of automotive and decreasing cost of technology, electronic thermostat is expected to capture a major share of the market by 2025 and conventional thermostats will have a minimal market share primarily contributed from the aftermarket demand. 

Company Profiles

  • BorgWarner Inc.
  • Continental AG
  • Denso Corporation
  • Hella KGaA Hueck & Co.
  • MAHLE GmbH
  • MotoRad Ltd.
  • Robert Bosch GmbH
  • Sogefi S.p.A.
  • Valeo SA
  • Stant Manufacturing, Inc.
  • Tama Enterprises Co., Ltd.
  • Nippon Thermostat Co. Ltd.
  • Vernet SAS
  • Ningbo Xingci Thermal Electric Appliances Co. Ltd.
  • K?raça Holding Enterprise
  • Others.
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