Global Automotive Thermostat Market 2017-2021

Overview of the global automotive thermostat market

Market research analysts at Technavio predict that the global automotive thermostat market will grow steadily at a CAGR of close to 4% by 2021. This market research analysis identifies the rising demand for passenger cars and commercial vehicles in developing countries as one of the primary growth factors for this market. The increase in disposable income especially in the emerging countries, is expected to create the demand for automobiles. This will subsequently increase the demand for automotive thermostats. It has been observed that road transportation is widely preferred over rail mode of freight transport in counties such as India due to high railway freight, poor last mile connectivity of railways, and the lack of availability of freight trains. These factors will increase the need for commercial vehicles which will subsequently contribute to the growth of the market.

The rising penetration of automotive thermostats in heated seats is one of the latest trends that will gain traction in the automotive thermostat market in the coming years. Automotive thermostats are increasingly being used in heated seats to determine the optimum operating temperature and automatically shut down the heating of the seat after reaching a set temperature which prevents the driver from getting burns.

Competitive landscape and key vendors

The automotive thermostat market is a mature market and is characterized by the presence of a small number of manufacturers who account for large market shares. OEMs are getting into long-term collaborations with the vendors and the quality of materials used and design are crucial factors in managing the quality, weight, and cost of automotive thermostats.

The leading vendors in the market are -

• BorgWarner
• HELLA
• MAHLE

The other prominent vendors in the market include ACDelco, Dongguan Yaxun Electronic Hardware Product, Fishman Thermo Technologies, Gates Corporation, Kirpart, Magal Group, Nippon Thermostat, Stant, TAMA, and Vernet.

Segmentation by application and analysis of the automotive thermostat market

• Passenger cars
• LCVs
• MHCVs

During 2016, the passenger cars segment accounted for the major shares of this market. The stabilization of the economy, growing employment opportunities, the availability of cheap credit facilities, rising urbanization, and lower interest rates on loans in countries in the APAC, will be the major factors driving the need for automotive thermostats from this segment.

Geographical segmentation and analysis of the automotive thermostat market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. The growing spending power of households and the increasing number of new car launches are driving the sales of passenger vehicles in China and India. Additionally, the rapid growth of the Indian e-commerce industry that has increased the need for commercial vehicles to facilitate timely shipments, will also boost the growth of this market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive thermostat market?
• What are the key market trends impacting the growth of the global automotive thermostat market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive thermostat market?
• What are the market opportunities and threats faced by the vendors in the global automotive thermostat market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global automotive thermostat market?

Technavio also offers customization on reports based on specific client requirement.

A device that automatically controls the temperature is known as a thermostat. A thorough data collection methodology is followed by our market research reports for the automotive industry and offer an analysis of fast growing market segments like automotive components. This upcoming industry research report on the global automotive thermostat market also offers insights into the key trends and eminent market drivers influencing the growth of the automotive components industry.

To help the clients expand in niche markets and identify potential market opportunities, this report on the global automotive thermostat market also covers geographies like the Americas, APAC, and EMEA. This upcoming industry report on the global automotive thermostat market also considers the growth of the similar markets such as the automotive seats, which is expected to grow at a CAGR of almost 5% by 2021. As per our market research experts, the growing automotive sector may influence the demand for automotive thermostats in the coming years.

This upcoming market research report on the global automotive thermostat market also covers vendors like Kirpart, Vernet, TAMA, Nippon, Gates, Fishman TT, Magal, Mahle, Stant, Borgwarner, and Hella. By considering the increasing demand, market forecast and market size, for various embedded systems, the market research professionals at Technavio offer a clear picture of the global automotive thermostat market for the projected period of 2017 to 2021. Additionally, our research practices help clients to keep up with the constantly changing market landscape and develop operative growth strategies. Also, based on the interpretation of the information gathered from specific resources such as channel partners and market stakeholders this market study offers a complete analysis of the current and future market landscape.

The upcoming market research report on the global automotive thermostat market also classifies the major drivers, key trends, as well as the constraints that the automotive components sector currently experiences. It also presents insights into the rapidly altering competitive scenario to give clients a precise picture of the upcoming events within the automotive industry. Technavio also provides deep-dive market assessments into the sectors such as powertrain and wheels and tires.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.