Press release
Automotive Thermal Management System Market Poised to Reach USD 173.8 Billion by 2036, Driven by EV Adoption and Advanced Thermal Technologies
Automotive Thermal Management System Market
Thermal management has become a mission-critical function in modern vehicles-particularly electric and hybrid models-where precise temperature control directly impacts battery safety, vehicle range, charging efficiency, and overall performance.
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Market Overview: Automotive thermal management systems encompass technologies and components designed to regulate temperatures across key vehicle subsystems, including batteries, electric motors, power electronics, engines, transmissions, and passenger cabins. These systems include heat pumps, radiators, compressors, coolant pumps, HVAC units, control electronics, and integrated thermal modules.
As vehicles transition from internal combustion engines (ICE) toward battery electric vehicles (BEVs), plug-in hybrids (PHEVs), and fuel cell electric vehicles (FCEVs), thermal management has evolved from a supporting system into a core enabler of vehicle reliability and efficiency. Advanced multi-loop and unified thermal architectures now integrate battery cooling, powertrain thermal control, and cabin heating/cooling into a single intelligent system, significantly reducing energy losses and system complexity.
Market Size & Key Highlights
• The automotive thermal management system market reached US$ 82.6 Bn in 2025
• Market forecast to reach US$ 173.8 Bn by 2036
• CAGR of 6.8% (2026-2036)
• Asia Pacific dominated with a 41% revenue share in 2025
• Passenger cars accounted for 67% of total market revenue in 2025
• Key players include DENSO Corporation, MAHLE GmbH, Valeo, Hanon Systems, BorgWarner Inc., ZF Friedrichshafen AG, Continental AG, and Robert Bosch GmbH
Key Market Growth Drivers
Advancements in Thermal Management Technologies
Continuous innovation in thermal architectures is a primary growth driver. Manufacturers are developing compact, integrated, and software-controlled thermal systems that improve efficiency while reducing weight and energy consumption. Technologies such as advanced heat pumps, multi-way refrigerant valves, high-efficiency compressors, and digital thermal control software are reshaping the market.
In November 2025, Valeo received CES Innovation Awards 2026 Honoree recognition for its compact 5-Ways Refrigerant Valve for EV heat pump systems, highlighting how integrated designs can simplify systems and reduce power losses.
Increasing Focus on Battery Safety and Performance
Battery thermal management is central to electric vehicle safety and longevity. Precise temperature regulation helps prevent thermal runaway, slows battery degradation, and ensures optimal performance in extreme climates. As EV adoption accelerates globally, OEMs are prioritizing advanced battery cooling and heating solutions.
In June 2025, ZF launched its production-ready TherMaS integrated thermal management system, delivering up to a 10% driving range improvement in winter conditions, underscoring how thermal innovation directly enhances vehicle performance and customer value.
Passenger Cars Leading Market Adoption
The passenger cars segment dominated the market with a 67% revenue share in 2025, driven by the rapid uptake of electric and hybrid passenger vehicles worldwide. OEMs are integrating advanced thermal systems to maximize range, ensure passenger comfort, and comply with efficiency regulations.
In December 2025, Nissan introduced the redesigned 2026 LEAF, featuring an enhanced battery thermal management system that utilizes waste heat from motors and chargers to maintain optimal battery temperatures in cold weather-demonstrating how passenger EVs are at the forefront of thermal system innovation.
Analysis of Key Players
• MAHLE GmbH
• Hanon Systems
• PHINIA Inc.
• BorgWarner Inc.
• AISIN CORPORATION
• Valeo
• MODINE MANUFACTURING COMPANY
• Continental AG
• Denso Corporation
• Gentherm
• Schaeffler AG
• Johnson Electric Holdings Limited
• Dana Limited
• Robert Bosch GmbH
• ZF Friedrichshafen AG
• Other Prominent Players
Recent Developments
• December 2025: Marelli launched its Intelligent Energy Management System, integrating thermal, propulsion, and electronic components using modular software and digital twin design.
• September 2025: Grayson Thermal Systems unveiled Complete Thermal Management Systems (CTMS) for electric buses at Busworld Europe 2025, combining HVAC, battery, and power electronics cooling into a unified high-voltage platform.
Market Challenges & Opportunities
Challenges
• High development costs for advanced thermal architectures
• Complexity in integrating multi-loop thermal systems
• Need for standardization across EV platforms
Opportunities
• Rapid growth in electric and hybrid vehicle production
• Rising adoption of low-GWP refrigerants and sustainable thermal solutions
• Expansion of thermal management into two-wheelers and off-highway EVs
• Aftermarket growth for advanced HVAC and cooling components
Investment Landscape and ROI Outlook
The automotive thermal management system market presents strong long-term investment potential. Rising EV penetration, regulatory pressure on emissions, and consumer demand for range and comfort are driving sustained OEM spending on advanced thermal solutions. Investors can expect stable returns supported by OEM contracts, technology licensing, and aftermarket demand, particularly in Asia Pacific and Europe.
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Market Segmentation Overview
By Application
• Engine Cooling
• Battery Thermal Management
• Electric Motor & Power Electronics Cooling
• Cabin Heating & Cooling (HVAC)
• Transmission Thermal Management
By Component
• Heat Exchangers
• Control Units & Electronics
• Valves & Actuators
• Fans, Blowers, Pumps
By Vehicle Type
• Passenger Cars
• Commercial Vehicles
• Two-Wheelers
• Off-Highway Vehicles
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Why Buy This Report?
• In-depth market size, forecast, and CAGR analysis
• Detailed segment and regional insights
• Comprehensive competitive landscape and company profiles
• Coverage of recent developments and technology trends
• Actionable insights for OEMs, suppliers, investors, and policymakers
Frequently Asked Questions (FAQs)
1. How big was the automotive thermal management system market in 2025?
The market was valued at US$ 82.6 billion in 2025.
2. What is the expected market size by 2036?
It is projected to reach US$ 173.8 billion by 2036.
3. What are the main growth drivers?
Advancements in thermal technologies and increasing focus on battery safety and performance.
4. What is the forecast CAGR?
The market is expected to grow at a CAGR of 6.8% from 2026 to 2036.
5. Which region leads the market?
Asia Pacific is expected to dominate during the forecast period.
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