Commercial Vehicle Automotive Thermal System Market to Surpass US$ 25.45 Bn by 2032 Amid Growing Demand for Efficient Vehicle Climate Control

✅Market Set to Grow at a CAGR of 5.2% Driven by Adoption of EVs and Advanced Powertrain Cooling Technologies

According to the latest study by Persistence Market Research, the global commercial vehicle automotive thermal system market is projected to grow from US$ 17.91 Bn in 2025 to US$ 25.45 Bn by 2032, exhibiting a steady CAGR of 5.2% during the forecast period. This growth is being propelled by the rising need for fuel-efficient, emission-compliant, and power-optimized commercial vehicles worldwide. With increasing electrification and hybridization of commercial fleets, the demand for advanced thermal systems-such as battery thermal management, HVAC, and waste heat recovery-is surging rapidly.

Thermal systems in commercial vehicles serve the critical role of maintaining optimal temperature in vehicle components like engines, batteries, and cabin interiors. The HVAC and powertrain cooling system segments dominate the market due to their extensive application in all types of commercial vehicles, from light-duty delivery vans to heavy-duty trucks. Among regions, East Asia is currently the market leader, backed by a robust commercial vehicle production base in China, South Korea, and Japan. Government initiatives to electrify transport fleets and stringent fuel efficiency norms are encouraging the adoption of thermal systems across a wide spectrum of vehicle platforms.

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✅Key Market Insights

➤ HVAC systems remain the leading system type due to increased driver comfort requirements and temperature regulation in all climate zones.
➤ East Asia holds the largest market share owing to high commercial vehicle production and ongoing electrification trends in China and Japan.
➤ ICE vehicles continue to lead the powertrain segment, but HEV/FEV is the fastest-growing due to e-mobility expansion.
➤ Battery thermal management systems are expected to experience significant growth as electric commercial vehicles gain traction globally.
➤ Compressors and heat exchangers are the key components contributing to market value due to their central role in temperature control mechanisms.

✅What is the role of a thermal system in a commercial vehicle?

A thermal system in a commercial vehicle plays a crucial role in maintaining optimal operating temperatures for various components such as the engine, battery, and cabin interior. It regulates heating, ventilation, and cooling functions to enhance driver comfort and vehicle performance. In electric and hybrid vehicles, thermal systems are essential for battery thermal management, ensuring safety, energy efficiency, and extended battery life. They also prevent overheating, improve fuel economy, and support emission compliance. As commercial vehicles face diverse operating environments, robust thermal systems become indispensable for reliability and performance.

✅Market Dynamics

Market Drivers
The primary driver fueling market expansion is the increased adoption of electric and hybrid commercial vehicles, which require sophisticated thermal management systems for batteries and power electronics. Stringent emission regulations and fuel economy standards across developed and emerging economies are pushing OEMs to adopt advanced thermal technologies. Additionally, the growing e-commerce and logistics industries are increasing the production of light commercial vehicles, which further stimulates demand for efficient thermal systems.

Market Restraining Factor
Despite robust demand, the high cost of advanced thermal management technologies and complex integration with EV platforms may restrain adoption, especially in price-sensitive markets. Moreover, limited aftermarket penetration and lack of standardization for thermal systems across regions pose additional challenges.

Key Market Opportunity
The key opportunity lies in the rising investments in electric commercial fleets and the integration of smart thermal sensors and control units. Developing economies in Asia-Pacific, Latin America, and Africa are expected to present lucrative opportunities due to the increasing need for energy-efficient and environmentally compliant transportation solutions.

✅Market Segmentation

The commercial vehicle automotive thermal system market is segmented by component, vehicle type, powertrain, and system type, offering a comprehensive view of market dynamics. By component, the major segments include compressors, heat exchangers, thermal sensors and control units, control valves, pumps, pipes and fans, and others. Compressors and heat exchangers dominate the segment due to their essential function in HVAC and powertrain cooling systems. Advanced sensors and control units are also gaining prominence, enabling real-time monitoring and smart thermal regulation.

By vehicle type, the market is categorized into light commercial vehicles (LCVs), medium commercial vehicles (MCVs), and heavy commercial vehicles (HCVs). LCVs hold a dominant share, owing to their widespread use in urban logistics and last-mile delivery services. However, the HCV segment is witnessing steady growth as fleet operators upgrade their long-haul vehicles with fuel-saving and comfort-enhancing technologies. Powertrain segmentation includes internal combustion engine (ICE) and hybrid/electric vehicles (HEV/FEV). ICE-powered vehicles currently dominate the market, but HEV/FEV is expanding rapidly, aligning with global decarbonization goals and regulatory shifts.

✅Regional Insights

Geographically, East Asia is the largest and most mature market for commercial vehicle thermal systems, attributed to China's dominant commercial vehicle production and rapid EV integration. South Korea and Japan also contribute significantly, with robust automotive R&D and manufacturing ecosystems. North America and Europe are also important markets, driven by technological advancements, stringent emission standards, and supportive policy frameworks for electrification. South Asia and Oceania, particularly India and Australia, are emerging as high-potential regions due to expanding logistics and construction sectors. Latin America and the Middle East & Africa represent slower-growing but evolving markets as infrastructure development and economic reforms take shape.

✅Competitive Landscape

The commercial vehicle thermal systems market is highly competitive and moderately consolidated, with major players focusing on strategic collaborations, product innovations, and regional expansions to strengthen their footprint. Companies are investing heavily in modular, lightweight thermal solutions optimized for electric and hybrid vehicles.

Company Insights

✦ Eberspächer
✦ Hanon Systems
✦ Gentherm
✦ BorgWarner
✦ Denso Corporation
✦ Grayson Thermal Systems
✦ Valeo SA
✦ Continental AG
✦ Robert Bosch GmbH
✦ Mahle GmbH
✦ Visteon Corporation

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✅Key Industry Developments

Denso Corporation has recently expanded its production capacity for battery thermal management systems in response to growing global demand for electric commercial vehicles. The company is also developing compact thermal modules that integrate cooling and heating functions for enhanced energy efficiency. Similarly, Valeo SA has partnered with commercial vehicle OEMs in Europe to supply lightweight HVAC systems with variable refrigerant flow for long-haul trucks, targeting reduced fuel consumption and improved driver comfort.

In another development, Gentherm has introduced a smart thermal system equipped with AI-based controls, enabling predictive temperature regulation for batteries and engines in hybrid trucks. This innovation aims to reduce downtime and enhance energy management, especially in high-load commercial applications. Meanwhile, Hanon Systems has opened a new R&D center in India to accelerate localization and customization of thermal solutions for South Asian markets.

✅Innovation and Future Trends

The future of the commercial vehicle thermal system market is closely linked to vehicle electrification and smart thermal integration. Manufacturers are developing next-generation thermal solutions that combine heating, cooling, and ventilation functions into compact and energy-efficient modules. Innovations like phase-change materials, solid-state cooling, and thermoelectric systems are expected to reshape how thermal energy is managed in electric and hybrid vehicles.

Moreover, the integration of IoT and AI in thermal systems is paving the way for predictive maintenance and remote diagnostics, allowing fleet operators to reduce operational costs and avoid system failures. As governments push for greener mobility and OEMs race toward net-zero goals, thermal systems will play a pivotal role in ensuring the safety, performance, and longevity of commercial vehicles across all platforms.

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