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Global Automotive Thermal System Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Automotive Thermal System
How Big Is the Automotive Thermal System Market Size Expected to Be by 2034?
The market size of the automotive thermal system has seen significant growth in recent years. The market, which was valued at $42.15 billion in 2024, is projected to reach $44.29 billion in 2025, representing a compound annual growth rate (CAGR) of 5.1%. This past growth is due to factors such as the incorporation of autonomous features, heightened focus on vehicle safety, the globalization of the automotive industry, increased demand for sophisticated cooling systems, and enhanced climate control and passenger comfort.
In the coming years, the automotive thermal system market is projected to experience robust growth, reaching an estimated worth of $56.28 billion by 2029 with a 6.2% compound annual growth rate (CAGR). The anticipated expansion during the forecast period is due to stricter emission regulations, developments in electric vehicle technology, and an increase in climate control needs. The periods significant trends include the use of electrification and hybridization, the implementation of advanced engine technologies, the adoption of cutting-edge cooling solutions, material and insulation innovations, and a push toward globalization and standardization.
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What Are the Emerging Segments Within the Automotive Thermal System Market?
The automotive thermal system market covered in this report is segmented -
1) By Component: Compressor, HVAC, Powertrain Cooling, Fluid Transport
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Other Vehicle Types
3) By Application: Front And Rear A Or c, Engine and Transmission, Seat, Battery, Motor, Waste Heat Recovery, Power Electronics
Subsegments:
1) By Compressor: Electrically Driven Compressors, Belt-Driven Compressors, Variable Displacement Compressors
2) By HVAC (Heating, Ventilation, And Air Conditioning): Heating Systems, Air Conditioning Units, Ventilation Systems
3) By Powertrain Cooling: Engine Cooling Systems, Transmission Cooling Systems, Turbocharger Cooling Systems
4) By Fluid Transport: Coolant Hoses, Radiators, Expansion Tanks
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What Long-Term Drivers Are Shaping Automotive Thermal System Market Trends?
The escalating enforcement of rigorous emission laws by regulatory bodies is anticipated to accelerate the expansion of the automotive thermal systems market. The control of GHG emissions from automobiles has become substantially challenging as the global vehicular population has surged. Bodies like the United States Environmental Protection Agency (US EPA) and the European Commission (EC) have set fuel efficiency standards and determined limits for fuel sulfur content to mitigate the intense impact of emissions. As an illustration, in September 2023, as per the US-based autonomous executive body, Environmental Protection Agency (EPA) responsible for environment conservation, the automotive nitrogen oxides (NOx) emissions mean exposure indicator (AEI) recorded was 0.04 g/km in 2022. The Environmental Targets (Automotive Emissions) (England) Regulations (2023) legally enforced the annual average NOx emissions target of 0.03 g/km by 2040, with milestones set to be attained by January 2028. Consequently, the rigorous emission laws put into effect by regulatory bodies are propelling the progression of the automotive thermal systems market.
Who Are the Top Competitors in Key Automotive Thermal System Market Segments?
Major companies operating in the automotive thermal system market are Continental AG, Denso Corporation, Dana Incorporated, Grayson Thermal Systems, Gentherm Incorporated, Hanon Systems, Lennox International Inc., Modine Manufacturing Company Inc., Mahle Behr GmbH & Co. KG, Robert Bosch GmbH, Valeo SA, Visteon Corporation, Calsonic Kansei Corp., Schaeffler Technologies AG & Co. KG, Johnson Electric Holdings Limited, Diakin Industries Ltd., Sanden Corporation, United Technologies Corporation, BorgWarner Inc., Marelli Corporation, Behr GmbH & Co KG, Delphi Technologies, Eberspaecher Group, Hella GmbH & Co KGaA, Siemens AG, Webasto SE, ZF Friedrichshafen AG, Bergstrom Inc., Kongsberg Automotive
What Automotive Thermal System Market Trends Are Gaining Traction Across Different Segments?
Advancements in automotive thermal systems are becoming a prominent trend in the automotive thermal system market. Efforts are put into research and innovation to create unique thermal systems for motor vehicles. Prominent firms in the automotive thermal system industry strive to produce new technology solutions to enhance their stance in the market. For instance, Mitsubishi Heavy Industries Thermal Systems, Ltd, located in Japan, in September 2023, introduced the TEJ35GAM electric-driven transport refrigeration units. This addition expands the existing TE20/30 series and TEJ35AM range. The TEJ35GAM, equipped with a plug-in hybrid system, blends a commercial plug-in power source with a specialized power source for the refrigerator, offering a novel solution for transport refrigeration.
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Which Regions Are Becoming Hubs for Automotive Thermal System Market Innovation?
Asia-Pacific was the largest region in the automotive thermal systems market share in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive thermal system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Thermal System Market?
2. What is the CAGR expected in the Automotive Thermal System Market?
3. What Are the Key Innovations Transforming the Automotive Thermal System Industry?
4. Which Region Is Leading the Automotive Thermal System Market?
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