Automotive Thermal System Market is driven by implementation of new technologies such as HVAC systems for thermal heating.
Albany, NY -- (SBWIRE) -- 02/25/2019 -- Automotive thermal system is concern with the management of liquid, temperature and air. It increases the comfort of the passengers by taking care of the temperature inside the vehicle. The main components of automotive thermal system are powertrain cooling, ventilation & AC, battery thermal management, power device cooling and waste heat recovery.
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Implementation of new technologies such as HVAC systems for thermal heating is driving the market globally. The primary advantage of this advanced system is that it reduces the harmful gases emitted by the cooling system compressors without compromising on the cooling capacity. The manufacturers of HVAC systems have replaced the existing HFO-1234yf cooling technology used in automotive HVAC systems with the R-134a technology due to the harmful effects of some refrigerants. Implementation of new technologies and upgrade of existing ones is among the key drivers for the growth of this market globally.
The rise in cost of the automotive thermal system is a major challenge restraining the growth of the market. Advanced and improved technology comes at a higher cost. Huge investment is required for research and development which in turn increases the cost of thermal systems, hence leading to increase in the price of automobiles. Increasing demand for thermal systems that run on alternative fuels such as bio-alcohols, liquid hydrogen, propane, P-Series fuels, and ethanol is a key opportunity for the growth of the market in the near future.
Manufacturers of automotive transmission systems are investing significantly in research and development for innovation of latest technology in automotive transmission. ZF Technologies introduced the world's first nine-speed automatic transmission system. This is likely to enhance fuel efficiency of vehicles considerably. There is a growing demand for vehicles with continuous variable transmission system.
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Driving a continuously variable transmission system is the same as driving a vehicle with automatic transmission, just that the engine revs up and down automatically. There is a growing demand for vehicles with continuously variable transmission due to its simplicity and enhanced performance. Therefore, this technology is likely to dominate the market in the coming years.
HVAC dominated the automotive thermal system market segmented by component. The HVAC system provides heat, ventilation and air conditioning in a vehicle. The HVAC market can be segmented into two types, automotive HVAC system and manual HVAC system. The rise in demand for HVAC is one of the key factors behind the growth of the automotive thermal system market as a whole.