Map-Controlled Automotive Thermostat Market

The global Map-Controlled Automotive Thermostat market was valued at USD 15.54 Billion in 2020 and is projected to reach USD 24.10 Billion by 2028, growing at a CAGR of 5.64%% from 2021 to 2028.

Thermostats is used in the internal combustion engines of automobiles for more than a century. Thermostats were incorporated originally for speeding the engine warming-up and reducing cylinder ring wear. At present, these thermostats are playing an increasingly important role in reducing the harmful emissions from the vehicle and increasing engine combustion efficiency. For accomplishing this task, the functions of a thermostat are controlled by the electronic control unit or ECU of the engine, thereby ensuring precise regulation of the engine temperature based on the loads of the engine. Thus, thermostats regulate engine temperature and keep it constant by controlling the flow rate of the coolant through the radiator, thereby making sure that there is a balance between the heat that is introduced into the system and the heat that is released externally.

The global Map-Controlled Automotive Thermostat market report provides a thorough analysis of each segment including Product Types,Application and for each region, and country. All the segments are studied considering historical and future trends across geographies. All the segments covers trends, market size, and forecasts, and the data is provided for the years 2016–2028. Moreover, the report also covers exhaustive analysis on competitive scenario of the global market covering in depth company profiles based on business overview, financial performance, product portfolio, business strategies, recent developments, and market share among others. In addition to that the report offers several market impacting factors such as drivers, restraints, and opportunities. Cumulatively, the report will cover all of the aspects regarding the global Map-Controlled Automotive Thermostat market. 

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report covers an exhaustive analysis of Map-Controlled Automotive Thermostat industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends,  SWOT analysis, and value chain analysis along with technological landscape and regulatory framework specific to Map-Controlled Automotive Thermostat industry.

The increasing automotive market coupled with the growth of consumer capacity is anticipated to augment the growth of the map-controlled automotive thermostat market in the years to come. This is owing to the increasing technological innovations in the automotive industry. The new generation of vehicle is equipped with the more electronic system that effectively controls the engine temperature according to consideration of load, emission and atmospheric condition. New technologies are pushing engine efficiency and combustion quality ever closer to optimum operating conditions. The several benefits offered by these thermostats including offering optimum combustion due to increased wall and component temperatures, reduced fuel consumption due to reduced viscosity of the engine oil and consequently reduced frictional loss, lower pollution emissions due to improved combustion and More comfort due to higher coolant temperatures and, as a result, an improved interior heating performance . Owing to these benefits, it is expected to increase their demand. 

The rising vehicle sale and production across the globe is anticipated to augment the growth of the map-controlled automotive thermostat market during the forecast period. This is owing to the rapid urbanization, increasing industrialization, increasing disposable income of the consumers, and advancement in technologies. Furthermore, the increasing adoption of personal vehicles has also increased the global sales of automobiles and its production by the manufacturers which in turn is expected to support the growth of the map-controlled automotive thermostat market in the forecast period. 

The government norms and legislations are projected to reduce IC engine market, and may ban the diesel engines owing to the increasing environmental pollution. This is expected to hamper the growth of the global map-controlled automotive thermostat market. Furthermore, map-controlled automotive thermostat market is highly dependent on the vehicle production which may also hamper the growth of the market as decline in production for vehicles, due to economic downturn will also decline in manufacturing of map-controlled automotive thermostat.

Product Types  Analysis: Preview

On the basis of Product Types, the market is segmented into Insert Thermostat, Housing Thermostat. Passenger Cars held the highest share in the global Map-Controlled Automotive Thermostat market and is projected to witness the same trend during the forecast period.

Application Analysis: Preview

Based on Application, the market is segmented into Passenger Car, Commercial Vehicle. accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Analysis: Preview

Based on , the market is segmented into . dominates the global Map-Controlled Automotive Thermostat market and is expected to continue the same trend from 2021 to 2028. 

Based on geography, the global Map-Controlled Automotive Thermostat market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional section is further bifurcated into key country level markets for each region. Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan. It covers market size and estimations for each segment by region and country for the years 2016–2028. Asia Pacific dominates the global Map-Controlled Automotive Thermostat market and is expected to continue the same trend during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

Major players in the global Map-Controlled Automotive Thermostat market are BG Automotive, Stant, Mahle, Temb, Magal, Gates, TAMA, Borgwarner, Nippon Thermostat, Vernet, Hella, Kirpart, Fishman TT.. The global Map-Controlled Automotive Thermostat market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network,  and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

• The global Map-Controlled Automotive Thermostat market was valued at USD 15.54 Billion in 2020
• The global Map-Controlled Automotive Thermostat Market is projected to reach USD 24.10 Billion by 2028
• Asia Pacific held the highest share of the Map-Controlled Automotive Thermostat market in 2020
• Some of the major companies operating in the Map-Controlled Automotive Thermostat market are BG Automotive, Stant, Mahle, Temb, Magal, Gates, TAMA, Borgwarner, Nippon Thermostat, Vernet, Hella, Kirpart, Fishman TT.