Automotive Thermal Management Market Research: at a CAGR of 6.8% during the forecast period

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report "Automotive Thermal Management- Global Market Share and Ranking, Overall Sales and Demand Forecast 2026-2032". Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2026-2032), this report provides a comprehensive analysis of the global Automotive Thermal Management market, including market size, share, demand, industry development status, and forecasts for the next few years.

The global market for Automotive Thermal Management was estimated to be worth US$ 58855 million in 2024 and is forecast to a readjusted size of US$ 93480 million by 2031 with a CAGR of 6.8% during the forecast period 2025-2031.

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Automotive Thermal Management: The Intelligent System for Vehicle Efficiency & Comfort

1. Product Introduction
Automotive Thermal Management is the critical, integrated hardware-and-software system responsible for regulating heat across a vehicle. Its core functions are to ensure operational efficiency, safety, component durability, and occupant comfort. It manages everything from engine cooling and cabin HVAC in traditional vehicles to the precise thermal regulation required in electrified platforms-including battery systems, e-drives, power electronics, and fast-charge preconditioning.

The system utilizes a network of components like pumps, valves, heat exchangers, and heat pumps, coordinated by sophisticated electronic control units. In modern architectures, especially for electric vehicles (EVs), it employs multi-loop designs and predictive software to optimize energy use, maximize range, and enhance performance under all conditions.

2. Global Market Outlook: Sustained Growth
Driven by the global shift to vehicle electrification and increasing performance demands, the automotive thermal management market is on a strong growth path. According to the latest industry analysis, the global market size is projected to reach USD 93.48 billion by 2031, expanding at a Compound Annual Growth Rate (CAGR) of 6.8%.

3. Competitive Landscape: A Consolidated Field
The market is characterized by strong consolidation among major global suppliers with deep technological expertise. In 2024, the top four manufacturers held a combined revenue share of approximately 48.0%.

Key global manufacturers include: DENSO, Hanon Systems, Valeo, MAHLE GmbH, and Sanhua Intelligent Controls.

4. Market Segmentation Analysis
4.1 By Product Segment (System Type):
The market is transitioning from traditional engine-focused systems to solutions centered on electrification.

Cabin Thermal Management: Currently the largest segment (53.6% share), driven by consistent demand for comfort and the adoption of energy-efficient heat pumps in EVs.

Battery Thermal Management (BTMS): The fastest-growing segment, fueled by rising EV sales, fast-charging requirements, and advanced technologies like direct refrigerant cooling.

E-Motor & Power Electronics Cooling: Gaining steady share due to the proliferation of high-voltage platforms and the need to cool high-power components like SiC inverters.

Powertrain Thermal Management: While still a large base, this traditional segment is gradually declining as internal combustion engine vehicle production plateaus.

4.2 By Application Segment (Vehicle Type):

Passenger Vehicles: The dominant segment (76.2% share), characterized by a rapid shift to integrated, intelligent multi-loop systems that prioritize energy efficiency, range extension, and smart comfort features.

Commercial Vehicles: Focuses on reliability, durability under high loads, and performance in extreme climates. For electric trucks and buses, systems must manage intense thermal loads over long operational periods, emphasizing robustness.

4.3 By Region:
Regional priorities shape demand:

North America: Driven by EV adoption and fast-charging infrastructure, with strong demand for advanced BTMS and heat pumps.

Europe: A leader in system innovation, focused on CO2 heat pumps, waste heat recovery, and compliance with stringent environmental regulations.

Asia-Pacific: Dominated by China's massive EV market, pushing volume deployment of integrated systems, heat pumps, and cost-optimized solutions.

Other Regions (LATAM, MEA): Currently focused on traditional ICE thermal systems, with gradual adoption of new technologies in specific segments.

5. Market Dynamics
5.1 Key Growth Drivers:

Vehicle Electrification & Fast Charging: BEVs/PHEVs require precise thermal control for batteries and e-drives; 400V/800V architectures and fast-charging capabilities elevate demand for advanced systems.

Energy Efficiency & Range Extension: Technologies like heat pumps, intelligent valve blocks, and efficient components are critical for reducing parasitic losses and maximizing EV range, especially in cold weather.

Regulatory Shift to Low-GWP Refrigerants: The global transition to refrigerants like R1234yf and CO2 (R744) is driving system redesigns and creating upgrade cycles.

Durability & Safety Requirements: Increasing demands for thermal runaway prevention, uniform battery temperatures, and high-power component cooling are pushing the adoption of higher-value solutions.

5.2 Primary Market Restraints:

System Cost & Complexity: Multi-loop architectures add cost, weight, and packaging challenges, particularly for smaller vehicle platforms.

Development & Validation Complexity: Integrating thermal, electrical, and software systems lengthens development cycles and increases validation costs.

Regulatory & Supply Chain Uncertainty: Diverging regional regulations and volatility in the supply of key components (e.g., electronic valves, specialized materials) pose ongoing challenges.

5.3 Emerging Opportunities:

Integrated Thermal Domain Platforms: Pre-integrated "one-box" solutions that combine hardware and software can reduce OEM integration costs and enable new features.

Performance in Extreme Climates: Innovations in heat pump technology and cabin conditioning present opportunities for leadership in cold-weather range and comfort.

Next-Generation BTMS: Direct refrigerant and immersion cooling technologies offer pathways to superior performance for fast-charging and high-demand use cases.

Data-Driven Services: Connected systems enable predictive maintenance, energy-optimized routing, and new software-based service revenue streams over the vehicle lifecycle.



The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.

The Automotive Thermal Management market is segmented as below:
By Company
DENSO
Hanon Systems
Valeo
MAHLE GmbH
Sanhua Intelligent Controls
Sanden
Aotecar
Yinlun Machinery
HASCO
Bosch
Johnson Electric
Highly Group
BorgWarner
Zhongding Group
Dana Incorporated
Songz Automobile Air Conditioning
Modine
Feilong Auto Components
Tenglong Auto Parts
Tuopu Group

Segment by Type
Powertrain System
Passenger Cabin Thermal Management System
Motor Control Thermal Management System
Battery Thermal Management System

Segment by Application
Passenger Car
Commercial Vehicle

Each chapter of the report provides detailed information for readers to further understand the Automotive Thermal Management market:

Chapter 1: Introduces the report scope of the Automotive Thermal Management report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2021-2032)
Chapter 2: Detailed analysis of Automotive Thermal Management manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2021-2026)
Chapter 3: Provides the analysis of various Automotive Thermal Management market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2021-2032)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2021-2032)
Chapter 5: Sales, revenue of Automotive Thermal Management in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2021-2032)
Chapter 6: Sales, revenue of Automotive Thermal Management in country level. It provides sigmate data by Type, and by Application for each country/region.(2021-2032)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2021-2026)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Benefits of purchasing QYResearch report:

Competitive Analysis: QYResearch provides in-depth Automotive Thermal Management competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis: QYResearch provides Automotive Thermal Management comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.

and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size: QYResearch provides Automotive Thermal Management market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.

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