Rising implementation of stringent emission regulations and norms by various government bodies and authorities across the world is anticipated to foster the development of the global automotive thermal systems market in the near future. Moreover, growing inclination of global population towards usage of comfortable and luxury vehicles is also a major driver for the global automotive thermal systems market in coming years. Rising demand for technologically advanced automobile features, such as heater steering, ventilated or heated car seats, and rear air conditioning is also supplementing the growth in global automotive thermal systems market in coming years.
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Major players and manufacturers in the global automotive thermal systems market are focused on increasing their production and R & D efforts in order to capture a larger share in the global automotive thermal systems market in coming years. Key strategies adopted by these leading players in the global automotive thermal systems market include mergers as well as acquisitions. For example, Hanon Systems acquired the condenser business of Keihin Corporation for various operations in Europe as well as North America. Some of the key players functional within the global automotive thermal systems market include MAHLE GmbH, Valeo, Hanon Systems, Denso Corporation, and Borg Warner Inc.
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Asia Pacific Accounts for the Largest Share in Automotive Thermal Systems Market
Geographically, the Asia Pacific is considered to be the leading and largest regional markets in the overall global automotive thermal systems market. Asia Pacific region, being the hub of major automotive production is expected to bolster the rising demand in global automotive thermal systems market in coming years. Considerable growth in the consumer demand for electric vehicles is also projected to favor the advancement of the global automotive thermal systems market in coming years.