Global Thermal System For Automotive Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Vehicle Type;

Passenger Car, Light Commercial Vehicle, Truck, and Bus.

By Technology;

Active Transmission Warm Up, EGR, Engine Thermal Mass Reduction, Reduced HVAC System Loading, and Others.

By Electric Vehicle Type;

Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Fuel Cell Electric Vehicle, and 48v Mild Hybrid Vehicle.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn913787785 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Thermal System For Automotive Market (USD Million), 2021 - 2031

In the year 2024, the Global Thermal System For Automotive Market was valued at USD 51,931.43 million. The size of this market is expected to increase to USD 72,853.80 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.0%.

The Global Thermal System for Automotive Market is a crucial sector within the automotive industry, encompassing a range of components and technologies designed to manage the thermal dynamics of vehicles. These systems play a vital role in maintaining optimal operating temperatures for various vehicle systems, including the engine, transmission, cabin, and battery, ensuring efficient performance, reliability, and passenger comfort. The thermal system comprises a diverse array of components such as radiators, cooling fans, HVAC (heating, ventilation, and air conditioning) units, heat exchangers, and thermal management software, each contributing to the overall functionality and efficiency of the vehicle.

As automotive manufacturers continue to innovate and develop advanced powertrain technologies, including electrified propulsion systems and downsized turbocharged engines, the demand for sophisticated thermal management solutions is on the rise. The integration of thermal systems has become increasingly complex, driven by the need to optimize energy efficiency, reduce emissions, and enhance vehicle performance in diverse operating conditions. Moreover, the growing focus on sustainability and environmental regulations is driving the adoption of thermal system technologies that enable more efficient energy utilization and minimize environmental impact, further shaping the dynamics of the Global Thermal System for Automotive Market.

In addition to traditional internal combustion engine vehicles, the expansion of electric and hybrid vehicle segments is reshaping the landscape of the Global Thermal System for Automotive Market. Electric vehicles (EVs) require efficient thermal management solutions to regulate battery temperatures, manage cabin heating and cooling, and optimize the performance of electric powertrains. This shift towards electrification presents new opportunities for thermal system manufacturers to develop innovative solutions tailored to the unique requirements of electric and hybrid vehicles, driving technological advancements and market growth within the Global Thermal System for Automotive Market.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Vehicle Type
    2. Market Snapshot, By Technology
    3. Market Snapshot, By Electric Vehicle Type
    4. Market Snapshot, By Region
  4. Global Thermal System For Automotive Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Demand for Vehicle Comfort and Convenience
        2. Stringent Emission Regulations and Fuel Efficiency Standards
        3. Growing Adoption of Electric and Hybrid Vehicles
        4. Technological Advancements in Thermal Management Systems
        5. Expansion of Automotive Production in Emerging Markets
      2. Restraints
        1. High Cost of Advanced Thermal System Technologies
        2. Complexity of Integration with Vehicle Electronics and Controls
        3. Limited Availability of Skilled Workforce for Thermal System Development
        4. Challenges Associated with Thermal Management in Extreme Operating Conditions
        5. Potential Supply Chain Disruptions and Material Shortages
      3. Opportunities
        1. Development of Advanced Thermal Management Solutions for Electric Vehicles
        2. Integration of Connectivity and IoT Features in Thermal Systems
        3. Collaboration with Automotive OEMs for Customized Thermal Solutions
        4. Expansion into Emerging Markets with Growing Automotive Demand
        5. Focus on Research and Development for Next-Generation Thermal System Technologies
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Thermal System For Automotive Market, By Vehicle Type, 2021 - 2031 (USD Million)
      1. Passenger Car
      2. Light Commercial Vehicle
      3. Truck
      4. Bus
    2. Global Thermal System For Automotive Market, By Technology, 2021 - 2031 (USD Million)
      1. Active Transmission Warm Up
      2. EGR
      3. Engine Thermal Mass Reduction
      4. Reduced HVAC System Loading
      5. Others
    3. Global Thermal System For Automotive Market, By Electric Vehicle Type, 2021 - 2031 (USD Million)
      1. Battery Electric Vehicle
      2. Hybrid Electric Vehicle
      3. Plug-In Hybrid Electric Vehicle
      4. Fuel Cell Electric Vehicle
      5. 48v Mild Hybrid Vehicle
    4. Global Thermal System For Automotive Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Denso Corporation
      2. Valeo SA
      3. Mahle GmbH
      4. BorgWarner Inc.
      5. Hanon Systems
      6. Continental AG
  7. Analyst Views
  8. Future Outlook of the Market