세계의 상용차용 열시스템 시장 전망(-2030년) : 차종별, 구성요소별, 추진 유형별, 용도별, 지역별 분석

According to Stratistics MRC, the Global Commercial Vehicle Automotive Thermal System Market is accounted for $18.36 billion in 2024 and is expected to reach $26.53 billion by 2030 growing at a CAGR of 6.33% during the forecast period. The Commercial Vehicle Automotive Thermal System is a crucial part of controlling the temperature of different vehicle components to guarantee maximum effectiveness and performance. Controlling the heat produced by engines, transmissions, and other powertrain parts is a critical function of these systems, particularly in heavy-duty commercial vehicles that are used for long-distance and high-load transportation. Heat exchangers, compressors, condensers, and radiators are common parts of commercial vehicles' thermal systems. These solutions aid in reducing emissions, enhancing fuel efficiency, and preventing overheating by controlling the temperature of crucial systems.

According to the International Energy Agency (IEA), global gas demand is anticipated to grow by approximately 2.5% in 2024, driven by increasing consumption in Asian markets and recovering industrial demand in Europe. This follows a challenging period marked by energy supply instability and volatility.

Market Dynamics:

Driver:

Growing interest in fuel efficiency

Commercial vehicle fuel efficiency has become more and more important as operators deal with tighter profit margins and growing fuel costs. As a result, manufacturers have made investments in cutting-edge thermal management technologies that improve engine performance and reduce energy losses. To maximize fuel consumption, innovations like integrated thermal systems, high-efficiency heat exchangers, and variable-speed cooling fans are being developed. Furthermore, fleet managers are now taking into account the total cost of ownership, which encompasses not only the initial purchase price but also ongoing maintenance and fuel costs.

Restraint:

High price of thermal systems

The high price of sophisticated thermal management technologies is one of the biggest factors limiting the market expansion for commercial vehicle automotive thermal systems. The initial investment needed for advanced thermal systems can be significant, even though manufacturers are working to meet strict emissions and fuel efficiency targets. Cutting-edge technologies like smart sensors and advanced materials are used in many of these systems, which can increase production costs. Additionally, only a small number of the more than 60 thermal system technologies are widely used because of their cost-benefit ratio.

Opportunity:

Combining IoT-enabled and smart thermal systems

The combination of intelligent and Internet of Things-enabled thermal systems represents one of the biggest opportunities. These cutting-edge systems can offer adaptive control and real-time monitoring of thermal management procedures, greatly increasing energy efficiency and lowering emissions. Manufacturers can use IoT technologies to create systems that continuously evaluate data from multiple sensors in order to maximize performance depending on the state of operations. Furthermore, this feature helps with predictive maintenance, which enables operators to handle possible problems before they become serious enough to require expensive repairs, in addition to increasing the overall efficiency of thermal systems.

Threat:

Technological difficulties in hybrid and electric cars

As the automotive sector moves more and more toward electric and hybrid cars, manufacturers face significant technological obstacles in the area of thermal management. Compared to vehicles powered by conventional internal combustion engines (ICE), high-capacity batteries, power electronics, and electric motors present a far more complex heat management challenge. For instance, in order to avoid thermal runaway, which can result in disastrous failures, battery packs must be kept at ideal temperatures during charging and discharging. Moreover, heat dissipation becomes even more difficult in electric vehicles due to their small size, which calls for creative solutions without sacrificing vehicle performance or safety.

Covid-19 Impact:

The market for automotive thermal systems for commercial vehicles was significantly impacted by the COVID-19 pandemic, which caused major industry disruptions. As part of a larger economic downturn that caused unemployment rates to skyrocket, the U.S. trucking industry witnessed a 5.8% decline in activity, with over 88,000 jobs lost in April 2020. These difficulties were made worse by elements like axle-load reforms and a shortage of liquidity, which made it more difficult for the sector to recover. However, there has been a slow recovery in demand for commercial vehicles as economies have started to reopen and adjust to new operating standards, especially those with cutting-edge thermal management systems that improve efficiency and adhere to strict emissions standards.

The Light Commercial Vehicle segment is expected to be the largest during the forecast period

The market for commercial vehicle automotive thermal systems have largest share in the Light Commercial Vehicle (LCV) segment. Smaller trucks and goods carrier buses, which are mostly used for lighter loads and shorter distances than medium and heavy commercial vehicles, are included in this segment. As businesses increasingly depend on LCVs to enable quick transportation of goods, the e-commerce boom and the need for effective last-mile delivery solutions are major factors driving the growing demand for LCVs. Furthermore, compared to their heavier counterparts, LCVs are thought to be more affordable options for moving both passengers and cargo, which results in higher sales volumes.

The Fluid Transport segment is expected to have the highest CAGR during the forecast period

Due to its crucial role in guaranteeing the effective operation of numerous vehicle components, the Fluid Transport segment is anticipated to show the highest CAGR in the commercial vehicle automotive thermal system market. In order to maintain ideal engine temperatures and improve overall vehicle performance, fluid transport systems are critical for controlling the circulation of fluids like coolant and lubricants. Moreover, the increasing need for thermal management systems that can function well in a variety of environmental settings, improving the robustness and efficiency of commercial vehicles, is another factor driving this market's expansion.

Region with largest share:

Due to its thriving automotive manufacturing sector and rising demand for commercial vehicles, the Asia-Pacific region commands the largest market share for commercial vehicle automotive thermal systems. With major infrastructure investments and growing middle-class driving vehicle sales, this region has become a global center for automotive production, especially in nations like China and India. The need for light, medium, and heavy commercial vehicles with sophisticated thermal management systems is growing as a result of the growth of the e-commerce and logistics industries in Asia-Pacific. Additionally, manufacturers are also being encouraged to develop and improve their thermal solutions by government programs supporting electric vehicles and strict emissions regulations.

Region with highest CAGR:

Over the course of the forecast period, the commercial vehicle automotive thermal system market is expected to grow at the highest CAGR in the Europe region. Growing technological developments and increased investments in innovation within the automotive industry are the main drivers of this growth. European nations, especially Germany, are renowned for their robust automotive manufacturing sectors and dedication to creating cutting-edge thermal management systems that adhere to strict emissions standards. Furthermore, increasing demand for advanced HVAC systems and thermal management solutions is the region's emphasis on improving driver comfort and safety features in commercial vehicles.

Key players in the market

Some of the key players in Commercial Vehicle Automotive Thermal System market include BorgWarner Inc., Mahle GmbH, Robert Bosch GmbH., Dana Incorporated, Valeo SA, Gentherm Incorporated, Hanon Systems, Continental AG, Sumitomo Electric Industries, Ltd., Cummins Inc., Schaeffler AG, Eberspacher, Denso Corporation, Eaton Corporation and Visteon Corporation.

Key Developments:

In July 2024, Robert Bosch GmbH is emerging as the front-runner to acquire a portfolio of heating and ventilation assets being sold by Johnson Controls International Plc, people with knowledge of the matter said. The German company is in advanced talks on terms of a potential transaction with Johnson Controls and aims to reach an agreement as soon as the next few weeks, the people said, asking not to be identified because the information is private.

In April 2024, MAHLE Behr GmbH & Co. KG, a subsidiary of MAHLE Group, and HELLA GmbH & Co. KGaA successfully completed the sale of their respective 50 percent stake in the joint venture Behr-Hella Thermocontrol to AUO Corporation. The parties had signed an agreement to sell the shares on 2 October 2023; the transaction has now been approved by the relevant authorities.

In February 2024, BorgWarner Inc. announced a strategic relationship agreement with FinDreams Battery, a subsidiary of BYD Company Limited. Under this agreement, BorgWarner will be the only non-OEM localized manufacturer, unaffiliated with FinDreams Battery, with rights to localize LFP battery packs for commercial vehicles utilizing FinDreams Battery blade cells in Europe, the Americas, and select regions of Asia Pacific.

Vehicle Types Covered:

• Light Commercial Vehicle
• Medium Commercial Vehicle
• Heavy Commercial Vehicle

Components Covered:

• HVAC (Heating, Ventilation, and Air Conditioning)
• Powertrain Cooling
• Fluid Transport
• Other Components

Propulsion Types Covered:

• ICE (Internal Combustion Engine)
• BEV (Battery Electric Vehicle)
• PHEV (Plug-in Hybrid Electric Vehicle)
• FCEV (Fuel Cell Electric Vehicle)

Applications Covered:

• Front & Rear AC
• Engine & Transmission Cooling
• Seat Heating and Ventilation
• Battery Thermal Management
• Waste Heat Recovery Systems
• Power Electronics Cooling
• Motor Cooling

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Commercial Vehicle Automotive Thermal System Market, By Vehicle Type

• 5.1 Introduction
• 5.2 Light Commercial Vehicle
• 5.3 Medium Commercial Vehicle
• 5.4 Heavy Commercial Vehicle

6 Global Commercial Vehicle Automotive Thermal System Market, By Component

• 6.1 Introduction
• 6.2 HVAC (Heating, Ventilation, and Air Conditioning)
• 6.3 Powertrain Cooling
• 6.4 Fluid Transport
• 6.5 Other Components

7 Global Commercial Vehicle Automotive Thermal System Market, By Propulsion Type

• 7.1 Introduction
• 7.2 ICE (Internal Combustion Engine)
• 7.3 BEV (Battery Electric Vehicle)
• 7.4 PHEV (Plug-in Hybrid Electric Vehicle)
• 7.5 FCEV (Fuel Cell Electric Vehicle)

8 Global Commercial Vehicle Automotive Thermal System Market, By Application

• 8.1 Introduction
• 8.2 Front & Rear AC
• 8.3 Engine & Transmission Cooling
• 8.4 Seat Heating and Ventilation
• 8.5 Battery Thermal Management
• 8.6 Waste Heat Recovery Systems
• 8.7 Power Electronics Cooling
• 8.8 Motor Cooling

9 Global Commercial Vehicle Automotive Thermal System Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 BorgWarner Inc.
• 11.2 Mahle GmbH
• 11.3 Robert Bosch GmbH.
• 11.4 Dana Incorporated
• 11.5 Valeo SA
• 11.6 Gentherm Incorporated
• 11.7 Hanon Systems
• 11.8 Continental AG
• 11.9 Sumitomo Electric Industries, Ltd.
• 11.10 Cummins Inc.
• 11.11 Schaeffler AG
• 11.12 Eberspacher
• 11.13 Denso Corporation
• 11.14 Eaton Corporation
• 11.15 Visteon Corporation