CHICAGO , July 25, 2022 /PRNewswire/ — Thermal Systems Market is projected to grow at a CAGR of 2.1% during the forecast period, from an estimated USD 37.6 billion in 2022 to USD 41.7 billion by 2027, according to a new report by MarketsandMarkets™. Growing stringency of emission regulations for on-highway & off-highway vehicles and rising demand for cabin comfort applications will drive the Thermal System Market in coming years.
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431 – Tables
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403 – Pages
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The passenger Car segment would lead the Thermal Systems Market during the forecast period
As estimated, the ICE passenger car segment would be the largest market for thermal systems. The stringent emission norms prompt the demand for advanced engine and exhaust technologies that require efficient thermal systems. OEMs achieve better engine cooling using technologies such as electronically assisted thermostats, pulse-width-modulated fans, and electric water pumps. Engine downsizing is becoming more popular in modern vehicles. Further, the growing inclination toward comfort and luxury prompts the market demand for heated/ventilated seats, heated steering, and rear air conditioning. Europe and North America have a higher demand for premium vehicles, and a few Asian countries such as China, Japan, and India have also showcased an upward…
