Global Automotive Thermal Management Market Size Study & Forecast, by Application (Engine Cooling, Battery Thermal Management), Technology Type (Air Cooling, Liquid Cooling) and Regional Forecasts 2025-2035

Description

The Global Automotive Thermal Management Market is valued at approximately USD 105.37 billion in 2024 and is projected to expand at a steady CAGR of 5.85% over the forecast period from 2025 to 2035, ultimately reaching USD 196.93 billion by 2035. Automotive thermal management systems comprise an integrated suite of technologies and components engineered to regulate temperatures across vehicle subsystems, ensuring optimal performance, safety, and durability. These systems govern heat flows within engines, batteries, cabins, transmissions, and power electronics, playing a pivotal role in enhancing fuel efficiency, extending component life, and meeting increasingly stringent emission norms. With historical data covering 2023 and 2024 and 2024 designated as the base year for estimation, the market narrative reflects a sector that is being steadily reshaped by electrification trends, evolving regulatory pressures, and rising consumer expectations for comfort and performance.

Market expansion is being fueled by the rapid shift toward electrified powertrains and the growing complexity of modern vehicle architectures. As automakers scale up production of hybrid and battery electric vehicles, thermal management has moved from a supporting function to a core design pillar, directly influencing vehicle range, charging speed, and safety. Simultaneously, advancements in materials, sensors, and control algorithms are being brought into play to squeeze higher efficiency out of compact thermal systems. The proliferation of advanced driver-assistance systems and power-dense electronics is further driving the need for precise thermal control. However, cost optimization challenges, system integration complexity, and the need to balance performance with sustainability goals continue to shape strategic decisions across the value chain during the forecast period of 2025-2035.

The detailed segments and sub-segments included in the report are:

By Application:

Engine Cooling
Cabin / HVAC Thermal Management
Transmission Thermal Management
Waste-Heat Recovery / EGR
Battery Thermal Management
Motor & Power-Electronics Cooling

By Technology Type:

Air Cooling & Heating
Liquid Indirect Cooling
Direct / Immersion Liquid Cooling
Phase-Change / PCM Systems
Hybrid & Integrated Loops

By Component:

Heat Exchangers (Radiator, CAC, Oil Cooler)
Compressors & Pumps
Thermal Control Valves & Manifolds
High-Voltage Coolant Heaters
Sensors & Controllers

By Propulsion Type:

ICE Vehicles
Hybrid Electric Vehicles
Plug-in Hybrid Vehicles
Battery Electric Vehicles
Fuel-Cell Electric Vehicles

By Vehicle Type:

Passenger Cars
Light Commercial Vehicles
Heavy Trucks & Buses

From an application standpoint, engine cooling continues to dominate the Global Automotive Thermal Management Market, accounting for the largest share of system installations. Despite the accelerating transition toward electrified vehicles, internal combustion engines remain prevalent across global fleets, particularly in emerging economies, thereby sustaining demand for advanced engine cooling solutions. This segment is being reinforced by stricter emission regulations and the push for higher engine efficiency, which together compel manufacturers to deploy more sophisticated cooling architectures. While battery thermal management is gaining momentum and is expected to grow rapidly, engine cooling remains the cornerstone segment that anchors overall market demand.

In terms of revenue contribution, heat exchangers emerge as the leading component category within the automotive thermal management ecosystem. Radiators, charge air coolers, and oil coolers collectively command a significant share of market revenues due to their indispensable role across both conventional and electrified vehicles. Continuous innovation aimed at reducing weight, improving heat transfer efficiency, and enabling compact packaging has allowed heat exchangers to retain their revenue leadership. At the same time, sensors and controllers are witnessing rising adoption, reflecting the industry's shift toward intelligent, software-driven thermal management strategies that dynamically adapt to real-time operating conditions.

The regional landscape of the Global Automotive Thermal Management Market is shaped by distinct industrial strengths and mobility trends. North America holds a prominent position, supported by high vehicle ownership rates, strong demand for SUVs and light trucks, and early adoption of advanced automotive technologies. Europe follows closely, driven by stringent emission standards and aggressive electrification targets that necessitate cutting-edge thermal solutions. Asia Pacific is expected to register the fastest growth over the forecast period, underpinned by large-scale vehicle production, rapid urbanization, and expanding electric vehicle adoption in countries such as China, Japan, and South Korea. Meanwhile, Latin America and the Middle East & Africa present gradual growth opportunities as automotive manufacturing footprints expand and regulatory frameworks evolve.

Major market players included in this report are:

Robert Bosch GmbH
Denso Corporation
Valeo SA
Continental AG
Mahle GmbH
Hanon Systems
BorgWarner Inc.
ZF Friedrichshafen AG
Dana Incorporated
Modine Manufacturing Company
Parker Hannifin Corporation
Marelli Holdings Co., Ltd.
Schaeffler AG
Visteon Corporation
Gentherm Incorporated

Global Automotive Thermal Management Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define and analyze the market size of the Global Automotive Thermal Management Market across different segments and regions in recent years and to forecast its trajectory through 2035. The report blends quantitative modeling with qualitative industry insights to deliver a comprehensive understanding of market dynamics. It highlights critical drivers, emerging challenges, and technological inflection points that are expected to shape future growth. Additionally, the study identifies high-potential micro-markets and evaluates competitive strategies, product portfolios, and long-term positioning of key players, offering stakeholders a well-rounded foundation for strategic decision-making.

Key Takeaways:

Market estimates and forecasts spanning 10 years from 2025 to 2035.
Annualized revenue analysis at global, regional, and segment levels.
In-depth geographical assessment with country-level insights across major regions.
Comprehensive competitive landscape analysis featuring leading market participants.
Strategic evaluation of key business initiatives and future growth approaches.
Detailed assessment of market structure and competitive intensity.
Balanced analysis of demand-side and supply-side dynamics shaping the market.

Chapter 1. Global Automotive Thermal Management Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. key Findings

Chapter 3. Global Automotive Thermal Management Market Forces Analysis

3.1. Market Forces Shaping The Global Automotive Thermal Management Market (2024-2035)
3.2. Drivers
- 3.2.1. rapid shift toward electrified powertrains
- 3.2.2. Increasing complexity of modern vehicle architectures
3.3. Restraints
- 3.3.1. cost optimization challenges
3.4. Opportunities
- 3.4.1. Growing proliferation of advanced driver-assistance systems

Chapter 4. Global Automotive Thermal Management Industry Analysis

4.1. Porter's 5 Forces Model
- 4.1.1. Bargaining Power of Buyer
- 4.1.2. Bargaining Power of Supplier
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis And Trends 2025
4.8. Analyst Recommendation & Conclusion

Chapter 5. Global Automotive Thermal Management Market Size & Forecasts by Application 2025-2035

5.1. Market Overview
5.2. Global Automotive Thermal Management Market Performance - Potential Analysis (2025)
5.3. Engine Cooling
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market size analysis, by region, 2025-2035
5.4. Cabin / HVAC Thermal Management
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market size analysis, by region, 2025-2035
5.5. Transmission Thermal Management
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market size analysis, by region, 2025-2035
5.6. Waste-Heat Recovery / EGR
- 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.6.2. Market size analysis, by region, 2025-2035
5.7. Battery Thermal Management
- 5.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.7.2. Market size analysis, by region, 2025-2035
5.8. Motor & Power-Electronics Cooling
- 5.8.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.8.2. Market size analysis, by region, 2025-2035

Chapter 6. Global Automotive Thermal Management Market Size & Forecasts by Technology Type 2025-2035

6.1. Market Overview
6.2. Global Automotive Thermal Management Market Performance - Potential Analysis (2025)
6.3. Air Cooling & Heating
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market size analysis, by region, 2025-2035
6.4. Liquid Indirect Cooling
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market size analysis, by region, 2025-2035
6.5. Direct / Immersion Liquid Cooling
- 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.5.2. Market size analysis, by region, 2025-2035
6.6. Phase-Change / PCM Systems
- 6.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.6.2. Market size analysis, by region, 2025-2035
6.7. Hybrid & Integrated Loops
- 6.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.7.2. Market size analysis, by region, 2025-2035

Chapter 7. Global Automotive Thermal Management Market Size & Forecasts by Component 2025-2035

7.1. Market Overview
7.2. Global Automotive Thermal Management Market Performance - Potential Analysis (2025)
7.3. Heat Exchangers (Radiator, CAC, Oil Cooler)
- 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.3.2. Market size analysis, by region, 2025-2035
7.4. Compressors & Pumps
- 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.4.2. Market size analysis, by region, 2025-2035
7.5. Thermal Control Valves & Manifolds
- 7.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.5.2. Market size analysis, by region, 2025-2035
7.6. High-Voltage Coolant Heaters
- 7.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.6.2. Market size analysis, by region, 2025-2035
7.7. Sensors & Controllers
- 7.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.7.2. Market size analysis, by region, 2025-2035

Chapter 8. Global Automotive Thermal Management Market Size & Forecasts by Propulsion Type 2025-2035

8.1. Market Overview
8.2. Global Automotive Thermal Management Market Performance - Potential Analysis (2025)
8.3. ICE Vehicles
- 8.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.3.2. Market size analysis, by region, 2025-2035
8.4. Hybrid Electric Vehicles
- 8.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.4.2. Market size analysis, by region, 2025-2035
8.5. Plug-in Hybrid Vehicles
- 8.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.5.2. Market size analysis, by region, 2025-2035
8.6. Battery Electric Vehicles
- 8.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.6.2. Market size analysis, by region, 2025-2035
8.7. Fuel-Cell Electric Vehicles
- 8.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.7.2. Market size analysis, by region, 2025-2035

Chapter 9. Global Automotive Thermal Management Market Size & Forecasts by Vehicle Type 2025-2035

9.1. Market Overview
9.2. Global Automotive Thermal Management Market Performance - Potential Analysis (2025)
9.3. Passenger Cars
- 9.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.3.2. Market size analysis, by region, 2025-2035
9.4. Light Commercial Vehicles
- 9.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.4.2. Market size analysis, by region, 2025-2035
9.5. Heavy Trucks & Buses
- 9.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.5.2. Market size analysis, by region, 2025-2035

Chapter 10. Global Automotive Thermal Management Market Size & Forecasts by Region 2025-2035

10.1. Growth Automotive Thermal Management Market, Regional Market Snapshot
10.2. Top Leading & Emerging Countries
10.3. North America Automotive Thermal Management Market
- 10.3.1. U.S. Automotive Thermal Management Market
  - 10.3.1.1. Application breakdown size & forecasts, 2025-2035
  - 10.3.1.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.3.1.3. Component breakdown size & forecasts, 2025-2035
  - 10.3.1.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.3.1.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.3.2. Canada Automotive Thermal Management Market
  - 10.3.2.1. Application breakdown size & forecasts, 2025-2035
  - 10.3.2.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.3.2.3. Component breakdown size & forecasts, 2025-2035
  - 10.3.2.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.3.2.5. Vehicle Type breakdown size & forecasts, 2025-2035
10.4. Europe Automotive Thermal Management Market
- 10.4.1. UK Automotive Thermal Management Market
  - 10.4.1.1. Application breakdown size & forecasts, 2025-2035
  - 10.4.1.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.4.1.3. Component breakdown size & forecasts, 2025-2035
  - 10.4.1.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.4.1.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.4.2. Germany Automotive Thermal Management Market
  - 10.4.2.1. Application breakdown size & forecasts, 2025-2035
  - 10.4.2.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.4.2.3. Component breakdown size & forecasts, 2025-2035
  - 10.4.2.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.4.2.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.4.3. France Automotive Thermal Management Market
  - 10.4.3.1. Application breakdown size & forecasts, 2025-2035
  - 10.4.3.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.4.3.3. Component breakdown size & forecasts, 2025-2035
  - 10.4.3.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.4.3.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.4.4. Spain Automotive Thermal Management Market
  - 10.4.4.1. Application breakdown size & forecasts, 2025-2035
  - 10.4.4.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.4.4.3. Component breakdown size & forecasts, 2025-2035
  - 10.4.4.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.4.4.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.4.5. Italy Automotive Thermal Management Market
  - 10.4.5.1. Application breakdown size & forecasts, 2025-2035
  - 10.4.5.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.4.5.3. Component breakdown size & forecasts, 2025-2035
  - 10.4.5.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.4.5.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.4.6. Rest of Europe Automotive Thermal Management Market
  - 10.4.6.1. Application breakdown size & forecasts, 2025-2035
  - 10.4.6.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.4.6.3. Component breakdown size & forecasts, 2025-2035
  - 10.4.6.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.4.6.5. Vehicle Type breakdown size & forecasts, 2025-2035
10.5. Asia Pacific Automotive Thermal Management Market
- 10.5.1. China Automotive Thermal Management Market
  - 10.5.1.1. Application breakdown size & forecasts, 2025-2035
  - 10.5.1.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.5.1.3. Component breakdown size & forecasts, 2025-2035
  - 10.5.1.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.5.1.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.5.2. India Automotive Thermal Management Market
  - 10.5.2.1. Application breakdown size & forecasts, 2025-2035
  - 10.5.2.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.5.2.3. Component breakdown size & forecasts, 2025-2035
  - 10.5.2.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.5.2.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.5.3. Japan Automotive Thermal Management Market
  - 10.5.3.1. Application breakdown size & forecasts, 2025-2035
  - 10.5.3.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.5.3.3. Component breakdown size & forecasts, 2025-2035
  - 10.5.3.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.5.3.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.5.4. Australia Automotive Thermal Management Market
  - 10.5.4.1. Application breakdown size & forecasts, 2025-2035
  - 10.5.4.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.5.4.3. Component breakdown size & forecasts, 2025-2035
  - 10.5.4.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.5.4.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.5.5. South Korea Automotive Thermal Management Market
  - 10.5.5.1. Application breakdown size & forecasts, 2025-2035
  - 10.5.5.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.5.5.3. Component breakdown size & forecasts, 2025-2035
  - 10.5.5.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.5.5.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.5.6. Rest of APAC Automotive Thermal Management Market
  - 10.5.6.1. Application breakdown size & forecasts, 2025-2035
  - 10.5.6.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.5.6.3. Component breakdown size & forecasts, 2025-2035
  - 10.5.6.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.5.6.5. Vehicle Type breakdown size & forecasts, 2025-2035
10.6. Latin America Automotive Thermal Management Market
- 10.6.1. Brazil Automotive Thermal Management Market
  - 10.6.1.1. Application breakdown size & forecasts, 2025-2035
  - 10.6.1.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.6.1.3. Component breakdown size & forecasts, 2025-2035
  - 10.6.1.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.6.1.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.6.2. Mexico Automotive Thermal Management Market
  - 10.6.2.1. Application breakdown size & forecasts, 2025-2035
  - 10.6.2.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.6.2.3. Component breakdown size & forecasts, 2025-2035
  - 10.6.2.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.6.2.5. Vehicle Type breakdown size & forecasts, 2025-2035
10.7. Middle East and Africa Automotive Thermal Management Market
- 10.7.1. UAE Automotive Thermal Management Market
  - 10.7.1.1. Application breakdown size & forecasts, 2025-2035
  - 10.7.1.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.7.1.3. Component breakdown size & forecasts, 2025-2035
  - 10.7.1.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.7.1.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.7.2. Saudi Arabia (KSA) Automotive Thermal Management Market
  - 10.7.2.1. Application breakdown size & forecasts, 2025-2035
  - 10.7.2.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.7.2.3. Component breakdown size & forecasts, 2025-2035
  - 10.7.2.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.7.2.5. Vehicle Type breakdown size & forecasts, 2025-2035
- 10.7.3. South Africa Automotive Thermal Management Market
  - 10.7.3.1. Application breakdown size & forecasts, 2025-2035
  - 10.7.3.2. Technology Type breakdown size & forecasts, 2025-2035
  - 10.7.3.3. Component breakdown size & forecasts, 2025-2035
  - 10.7.3.4. Propulsion Type breakdown size & forecasts, 2025-2035
  - 10.7.3.5. Vehicle Type breakdown size & forecasts, 2025-2035

Chapter 11. Competitive Intelligence

11.1. Top Market Strategies
11.2. Robert Bosch GmbH
- 11.2.1. Company Overview
- 11.2.2. Key Executives
- 11.2.3. Company Snapshot
- 11.2.4. Financial Performance (Subject to Data Availability)
- 11.2.5. Product/Services Port
- 11.2.6. Recent Development
- 11.2.7. Market Strategies
- 11.2.8. SWOT Analysis
11.3. Denso Corporation
11.4. Valeo SA
11.5. Continental AG
11.6. Mahle GmbH
11.7. Hanon Systems
11.8. BorgWarner Inc.
11.9. ZF Friedrichshafen AG
11.10. Dana Incorporated
11.11. Modine Manufacturing Company
11.12. Parker Hannifin Corporation
11.13. Marelli Holdings Co., Ltd.
11.14. Schaeffler AG
11.15. Visteon Corporation
11.16. Gentherm Incorporated