The global automotive thermostat market is estimated to be valued at US$ 2,182.8 Mn by the end of 2018 and is expected to reach US$ 2,820.5 Mn by the end of 2026, with a CAGR of 3.3% over the forecast period.
Albany, NY -- (SBWIRE) -- 10/01/2018 -- The growing demand for passenger and commercial vehicles arising from continuously growing disposable incomes, along with environmental pollution concerns are expected to be one of the major influencing factors behind the growth of the automotive thermostat market. In addition, rapid growth of automotive manufacturing sectors particularly in Asia Pacific, are expected to significantly boost demand for automotive thermostat systems.
Revenue earned from the automotive thermostat market are estimated to grow at a modest CAGR of 3.3% through 2026. These insights have been gleaned from the report titled "Global Market Study on Automotive Thermostat: Novel Applications Such as Engine Thermal Management and Reduced Tailpipe Emissions to Promote Revenue Growth" added recently to the huge repository of Market Research Reports Search Engine (MRRSE).
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Growing emphasis on electricity and other eco-friendly power sources for transport, has resulted in a significant rise of demand for hybrid and electric vehicles in the recent years. This provides automotive thermostat market players greater opportunities for expansion in the future.
Europe is expected to hold on to major market share for automotive thermostats owing to high sales revenue generated in the region. Housed, single valve and passenger car compatible thermostats, through sales channel of original equipment manufacturers are anticipated to show rapid growth during the forecast period.
Automotive Thermostat Market: Report Overview
An extensive regional and global-level analysis & forecast on the automotive thermostat market, in terms of value (US$ Mn) and volume (Thousand Units), for the period of forecast 2018 to 2026 has been given to readers in this report. Business dynamics such as social, political, economic and technological factors that have an impact on the requirement and demand for automotive thermostat have been closely examined and assessed in the report.
An in-depth value chain analysis on the automotive thermostat industry has also been included in the report, and the data has been used to help the readers understand the competitive scenario among key market players, including vital details such as SWOT and company financials. A detailed market attractiveness analysis has also been included in the report, where all applications have been benchmarked on the terms of factors such as market size, general attractiveness, and growth rate.
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Automotive Thermostat Market: Research Methodology
Detailed discussions and in-depth interviews have been carried out with a number of the top opinion leaders and industry experts in order to compile this report. Primary and secondary research methodologies have been used extensively, which have greatly helped in in the extraction of relevant information on the automotive thermostat market. Primary research represents the bulk of the research, which has been supported and validated by exhaustive secondary research.
Leaders and new entrants in the automotive thermostat market have been reviewed, while reliable data sources such as annual reports, SEC filings, and press releases have been used for extracting an accurate analysis on the market's competitor landscape. The research approach employed here is deemed to be very efficient in finding trustworthy intelligence on the market data, the industry players, and untapped business opportunities.
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