Global Automotive Thermal System Components Market by Component, by Vehicle Type, by Propulsion Type, by Region Forecast till 2035

Description

List of Tables

Global Automotive Thermal System Components Market by Component (Cooling Compressor, Refrigerant Pipe, Condenser, Water Pump, Oil Cooler, HVAC Systems, Battery Thermal Management Systems (BTMS), Heat Exchangers, Others), by Vehicle Type (Passenger Vehicle, Commercial Vehicle), by Propulsion Type (ICE, Electric, Hybrid), by Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) Forecast till 2035

Industry Overview

The global automotive thermal system components market is expected to grow at a compound annual growth rate (CAGR) of 9.3% during the forecast period (2025-2035), ultimately reaching USD 111,333 million by 2035. An automotive thermal system is a network of components that are designed to manage the temperature of a vehicle efficiently. The thermal system is mainly concerned with vehicle safety and performance. It is the thermal system that not only helps to regulate engine heat but also battery temperature and passenger cabin climate. These systems are especially important in electric and hybrid vehicles to prevent overheating and extend component life.

The Automotive Thermal System Components Market is growing rapidly, especially with the increasing shift toward electric vehicles (EVs). Electric vehicles are indeed dependent on a thermal system, which must be very efficient to regulate battery temperature to avoid overcharging and make sure that the vehicle operates safely and without interruptions. The governments, on the other hand, are pressing auto manufacturers with very stringent emission requirements that they will only be able to comply with if they utilize green thermal technologies for electric and combustion engines. More technological progress leads to the fact that developing advanced such as heat pump systems and integrated multi-loop cooling in vehicles, helps reduce energy use and improve range, especially in EVs. In emerging markets, rising vehicle ownership and hot climates are further fueling demand for effective thermal solutions.

However, this market faces certain barriers. The high cost of advanced thermal parts means that these technologies are mostly limited to high-end vehicles. Integrating these systems into older vehicle designs is also difficult and time-consuming. Additionally, many consumers and budget-conscious markets are unaware of the long-term benefits, which limits adoption. Price fluctuations in metals and refrigerants further add to production costs.

Still, there are key opportunities. Smart thermal systems that adjust in real-time using sensors are gaining popularity. The rollout of fast-charging EV stations and growing investment in autonomous vehicles create a need for better cooling of electronics and sensors. Eco-friendly materials and V2G systems also present scope for innovation and growth in the market.

Industry Segmentations

In terms of the vehicle type, the global automotive thermal system components market is segmented into passenger vehicles and commercial vehicles.

The global market is classified based on the component type, comprising cooling compressors, refrigerant pipes, condensers, water pumps, oil coolers, HVAC systems, battery thermal management systems (BTMs), heat exchangers, and others.

Electric, ICE, and hybrid are propulsion types of the global automotive thermal system components market.

Regional Analysis

In the region of North America, technological development and the penetration of electric vehicles have become the main factors for growth. The United States enjoys the largest share of the market because of its efficient manufacturing and the growing number of electric vehicles. Canada is also growing steadily, but mainly in cold-weather thermal solutions. Both countries have a common goal in heavy R&D and regulatory compliance.

Europe's market benefits from tight emission rules and strong automotive engineering. Germany leads with innovations in electric vehicle thermal systems. France and Italy follow closely, focusing on integrated thermal systems in hybrid and EV platforms. The market reflects Europe's commitment to low-emission transport.

Asia-Pacific is the largest regional market, led by China's large-scale EV production and domestic consumption. Japan and South Korea continue to bring high-tech innovation in thermal component design. India's vehicle output and comfort-based features are driving adoption, especially for urban vehicles. The region is highly dynamic and investment-heavy.

The top source of demand for the region is Brazil, where the need is most here is hot weather and the increased urbanization of cities. An established manufacturing base in Argentina is the source of the component demand. The transition to electric-powered vehicles is slow but noticeable in Brazil and Chile. Besides that, issues of infrastructure and high costs are still there.

In MEA, hot weather and urban growth drive the need for strong cooling systems. Countries like the UAE and Saudi Arabia demand advanced thermal features in passenger and commercial vehicles. There is increasing interest in vehicle comfort and efficiency. Still, regional instability and economic disparity slow the pace of adoption.

Key Players

Key competitors in global automotive thermal system components are Mahle GmbH, Denso Corporation, Hanon Systems, Valeo SA, Zhejiang Sanhua Intelligent Control Co., Ltd., Zhejiang Yinlun Machinery Co., Ltd., Robert Bosch GmbH, Marelli Corporation, Modine Manufacturing Company, and Zhejiang Yinlun Machinery Co., Ltd.

Product Code: MRFR/AM/57637-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TYPE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 INCREASING DEMAND FOR ELECTRIC VEHICLES (EVS)
- 4.2.2 REGULATORY PRESSURE FOR EMISSION CONTROL
- 4.2.3 ADVANCEMENTS IN THERMAL MANAGEMENT TECHNOLOGIES
- 4.2.4 RISING CONSUMER FOCUS ON FUEL EFFICIENCY
- 4.2.5 GROWTH IN THE AUTOMOTIVE SECTOR IN EMERGING MARKETS
4.3 RESTRAINTS
- 4.3.1 HIGH INITIAL COSTS OF ADVANCED THERMAL COMPONENTS
- 4.3.2 COMPLEXITY IN INTEGRATION WITH EXISTING SYSTEMS
- 4.3.3 LIMITED AWARENESS OF THERMAL MANAGEMENT BENEFITS
- 4.3.4 FLUCTUATIONS IN RAW MATERIAL PRICES
- 4.3.5 COMPETITION FROM ALTERNATIVE TECHNOLOGIES
4.4 OPPORTUNITY
- 4.4.1 INTEGRATION OF SMART TECHNOLOGIES IN THERMAL SYSTEMS
- 4.4.2 EXPANSION OF CHARGING INFRASTRUCTURE FOR EVS
- 4.4.3 INCREASED INVESTMENT IN AUTONOMOUS VEHICLES
- 4.4.4 DEVELOPMENT OF SUSTAINABLE AND RECYCLABLE MATERIALS
- 4.4.5 GROWING INTEREST IN VEHICLE-TO-GRID (V2G) TECHNOLOGIES
4.5 MARKET AND TECHNOLOGY TRENDS
- 4.5.1 EXPANSION OF THERMAL MANAGEMENT FOR INTERIOR COMFORT
- 4.5.2 INTEGRATION OF IOT AND AI
- 4.5.3 LIGHTWEIGHT MATERIALS AND DESIGNS
4.6 IMPACT ANALYSIS OF COVID-19
- 4.6.1 IMPACT ON OVERALL AUTOMOTIVE
- 4.6.2 IMPACT ON GLOBAL AUTOMOTIVE THERMAL SYSTEMS COMPONENTS MARKET
- 4.6.3 IMPACT ON SUPPLY CHAIN OF AUTOMOTIVE THERMAL SYSTEMS COMPONENTS MARKET
- 4.6.4 IMPACT ON MARKET DEMAND OF AUTOMOTIVE THERMAL SYSTEMS COMPONENTS MARKET
- 4.6.5 IMPACT ON THE PRICING OF AUTOMOTIVE THERMAL SYSTEMS COMPONENTSMARKET

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 REGULATORY LANDSCAPE/STANDARDS
5.4 MARKET SWOT ANALYSIS
5.5 MARKET PESTEL ANALYSIS

6 GLOBAL AUTOMOTIVE THERMAL SYSTEMS COMPONENTS MARKET, BY COMPONENT

6.1 OVERVIEW
6.2 COOLING COMPRESSOR
6.3 REFRIGERANT PIPE
6.4 CONDENSER
6.5 WATER PUMP
6.6 OIL COOLER
6.7 HVAC SYSTEMS
6.8 BATTERY THERMAL MANAGEMENT SYSTEMS (BTMS)
6.9 HEAT EXCHANGERS
6.10 OTHERS

7 GLOBAL AUTOMOTIVE THERMAL SYSTEMS COMPONENTS MARKET, BY VEHICLE TYPE

7.1 OVERVIEW
7.2 PASSENGER VEHICLES
7.3 COMMERCIAL VEHICLES

8 GLOBAL AUTOMOTIVE THERMAL SYSTEMS COMPONENTS MARKET, BY PROPULSION TYPE

8.1 OVERVIEW
8.2 ICE
8.3 ELECTRIC
8.4 HYBRID

9 GLOBAL AUTOMOTIVE THERMAL SYSTEMS COMPONENTS MARKET, BY REGION

9.1 OVERVIEW
9.2 NORTH AMERICA
- 9.2.1 US
- 9.2.2 CANADA
9.3 EUROPE
- 9.3.1 GERMANY
- 9.3.2 UK
- 9.3.3 FRANCE
- 9.3.4 RUSSIA
- 9.3.5 ITLAY
- 9.3.6 SPAIN
- 9.3.7 REST OF EUROPE
9.4 ASIA-PACIFIC
- 9.4.1 CHINA
- 9.4.2 INDIA
- 9.4.3 JAPAN
- 9.4.4 SOUTH KOREA
- 9.4.5 MALAYSIA
- 9.4.6 THAILAND
- 9.4.7 INDONESIA
- 9.4.8 REST OF ASIA-PACIFIC
9.5 SOUTH AMERICA
- 9.5.1 BRAZIL
- 9.5.2 MEXICO
- 9.5.3 ARGENTINA
- 9.5.4 REST OF SOUTH AMERICA
9.6 MIDDLE EAST & AFRICA
- 9.6.1 GCC COUNTRIES
- 9.6.2 SOUTH AFRICA
- 9.6.3 REST OF MIDDLE EAST & AFRICA

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION
10.2 COMPETITOR DASHBOARD
10.3 COMPANY MARKET SHARE ANALYSIS, 2023 (VALUE)
10.4 RECENT DEVELOPMENTS
- 10.4.1 PRODUCT DEVELOPMENT
- 10.4.2 PARTNERSHIPS/AGREEMENTS/CONTRACTS/COLLABORATIONS
- 10.4.3 MERGER AND ACQUSITION

11 COMPANY PROFILES

11.1 MAHLE GMBH
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 KEY STRATEGIES
11.2 BORGWARNER
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGIES
11.3 VALEO SA
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGIES
11.4 DENSO CORPORATION
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 FINANCIAL OVERVIEW
- 11.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 KEY STRATEGIES
11.5 HANON SYSTEMS
- 11.5.1 COMPANY OVERVIEW
- 11.5.2 FINANCIAL OVERVIEW
- 11.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.5.4 KEY DEVELOPMENTS
- 11.5.5 SWOT ANALYSIS
- 11.5.6 KEY STRATEGIES
11.6 ZHEJIANG SANHUA INTELLIGENT CONTROL CO., LTD.
- 11.6.1 COMPANY OVERVIEW
- 11.6.2 FINANCIAL OVERVIEW
- 11.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.6.4 KEY DEVELOPMENTS
- 11.6.5 SWOT ANALYSIS
- 11.6.6 KEY STRATEGIES
11.7 ZHEJIANG YINLUN MACHINERY CO., LTD
- 11.7.1 COMPANY OVERVIEW
- 11.7.2 FINANCIAL OVERVIEW
- 11.7.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.7.4 KEY DEVELOPMENTS
- 11.7.5 SWOT ANALYSIS
- 11.7.6 KEY STRATEGIES
11.8 ROBERT BOSCH GMBH
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 FINANCIAL OVERVIEW
- 11.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.8.4 KEY DEVELOPMENTS
- 11.8.5 SWOT ANALYSIS
- 11.8.6 KEY STRATEGIES
11.9 MARELLI CORPORATION
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 FINANCIAL OVERVIEW
- 11.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.9.4 KEY DEVELOPMENTS
- 11.9.5 SWOT ANALYSIS
- 11.9.6 KEY STRATEGIES
11.10 MODINE MANUFACTURING COMPANY
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 FINANCIAL OVERVIEW
- 11.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 11.10.4 KEY DEVELOPMENTS
- 11.10.5 SWOT ANALYSIS
- 11.10.6 KEY STRATEGIES