Thermal Systems Market Projected to reach $41.7 billion by 2027
The thermal system market is projected to reach USD 41.7 billion by 2027 from USD 37.6 billion in 2022, at a CAGR of 2.1%. The growing stringency in emission regulations, rising demand of mid & full size SUV and luxury vehicle with enhanced cabin comfort will drive the thermal systems market. Moreover, rising adoption of electric & hybrid vehicles and the advancements in semi-autonomous and autonomous vehicles would bring tremendous growth potential in the thermal systems market 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. 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 ...