Automotive Thermal System Market to Witness Astonishing Growth by 2026
The Automotive Thermal System Market is projected to reach USD 49.1 billion by 2026 from USD 40.9 billion in 2021, at a CAGR of 3.7%. Stringent emission norms and rising demand for in-vehicle comfort applications will drive the automotive thermal system market With the increase in global vehicle parc, controlling GHG emissions from vehicles has become a major challenge. To overcome the exponential outcome of emissions, regulatory bodies such as European Commission (EC) and the United States Environmental Protection Agency (US EPA) have regulated fuel sulphur content limits and mandated fuel economy standards. Advancements in thermal system technology can maximize CO2 reduction and improve vehicle efficiency by reusing the waste heat and optimally managing the heating and cooling systems of the vehicle. Various thermal system technologies that are now installed in luxury vehicles to meet the reduced CO2 emission targets are engine thermal mass reduction, predictive powertrain ...