The Automotive Sector In Emerging Markets Is Driving The Global Automotive Thermal System Components Market, Are Expected To Drive Market Expansion In The Near Future At A CAGR Of 9.3% During The Forecast Period 2025 To 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Automotive Thermal System Components Market” that contains information from 2019 to 2035.

The Global Automotive Thermal System Components Market is estimated to register a CAGR of 9.3% during the forecast period of 2025 to 2035.

MRFR recognizes the following companies as the key players in the Global Automotive Thermal System Components Market— Mahle GMBH, BorgWarner, Valeo Sa, Denso Corporation, Hanon Systems, Zhejiang SANHUA Intelligent Control Co., Ltd, Zhejiang YINLUN Machinery Co., Ltd, Robert Bosch GMBH, Marelli Corporation, Modine Manufacturing Company and other.

Market Highlights

The Global Automotive Thermal System Components Market is estimated to register a CAGR of 9.3% during the forecast period and is estimated to reach USD 111.33 Billion by 2035.

The global boom in electric vehicle (EV) adoption is driving up demand for improved automotive thermal systems. Unlike typical internal combustion engine (ICE) vehicles, EVs rely extensively on heat management to maintain the safety, efficiency, and durability of critical components such as batteries, power electronics, and electric motors.

Battery thermal management is one of the most critical applications. For example, Tesla uses liquid-cooled battery systems in its Model 3 and Model Y to maintain optimal operating temperatures and prevent thermal runway. Similarly, BYD has developed its proprietary "Blade Battery" with integrated cooling enhancements to improve safety and lifespan. During charging and discharging, EVs generate heat from both the drivetrain and the high-capacity batteries. Efficient thermal management is essential for keeping these components at their ideal working temperatures, which have a direct impact on battery life, safety, and performance. Automotive thermal systems in EVs employ current cooling technologies, including liquid cooling systems and thermal interface materials, to ensure that the battery pack and electric drivetrain function consistently and safely.

Furthermore, cabin heating and cooling become much more important in EVs, as good temperature management directly affects driving range by minimizing the demand on the battery for climate conditioning. Hyundai Mobis revealed its 'Pulsating Heat Pipe' for EV battery cooling in October 2024, displaying a temperature differential of over 20 degrees Celsius over normal aluminum cooling plates. This novel material improves thermal management during ultra-fast charging, reducing both overheating and charging times. As the electric vehicle market grows, the demand for advanced thermal management systems adapted to the specific needs of EVs is expected to rise, boosting sector innovation and growth.

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Segment Analysis

The Global Automotive Thermal System Components Market has been segmented based on By Components, By Vehicle Type, By Propulsion Type.

Based on Caliber Type, the Global Automotive Thermal System Components Market has been segmented into Cooling Compressor, Refrigerant, Condenser, Water Pump, Oil Cooler, HVAC Systems, Battery Thermal Management Systems, Heat Exchangers, Others. The HVAC Systems segment dominated the global market in 2024, while the Battery Thermal Management Systems is projected to be the fastest–growing segment during the forecast period. The HVAC system provides heat, ventilation, and air-conditioning in a vehicle. In the automotive thermal system, the Heating, Ventilation, and Air Conditioning (HVAC) system plays a critical role in maintaining passenger comfort by regulating temperature, humidity, and air quality. It ensures a comfortable cabin environment for drivers and passengers, regardless of external weather conditions. Additionally, the HVAC system contributes to the overall health and longevity of the vehicle by preventing damage from extreme temperatures and humidity.

In addition, the increasing demand for advanced HVACs that are environment-friendly and lightweight are expected to drive the automotive thermal system market. Moreover, HVAC equipment is cost-effective and can optimize productivity, which is expected to further boost the segment in the near future. All these factors are expected to propel the automotive thermal system market during the forecast period.

Based on product type, the global Automotive Thermal System Components market has been segmented into Passenger Vehicle, Commercial Vehicle. The Passenger Vehicle segment dominated the global market in 2024, while the Passenger Vehicle is projected to be the fastest–growing segment during the forecast period. The passenger car segment dominates the automotive thermal management market, commanding approximately 70.8% of the total market share in 2024. This significant market position is primarily driven by the increasing adoption of electric and hybrid vehicles in the passenger car segment, which require sophisticated thermal management systems for battery temperature control and cabin comfort. The segment's growth is further bolstered by the rising consumer demand for luxury vehicles equipped with advanced automotive HVAC systems and the implementation of stringent emission norms that necessitate efficient thermal management solutions. Additionally, the continuous technological advancements in passenger car thermal management systems, including the development of smart thermal management solutions and integrated cooling systems, have contributed to maintaining this segment's dominant position in the market.

Based on Payload Type, the Global Automotive Thermal System Components Market has been segmented into ICE, Electric, and Hybrid. The ICE segment dominated the global market in 2024, while the Electric is projected to be the fastest–growing segment during the forecast period. IC engine vehicles primarily utilize gasoline or diesel as a fuel, along with renewable or alternative fuels. In IC engine vehicles, the ignition and combustion of the fuel occurs within the engine itself. Subsequently, the engine partially converts the energy from the combustion to mechanical work, as the expanding combustion gases push the piston, which rotates the crankshaft. This, in turn, is estimated to boost the global automotive thermal system market during the forecast period.

Regional Analysis

Based on region, the global automotive thermal systems components market is segmented into North America, Europe, Asia Pacific, South America, and Middle East and Africa. The Asia-Pacific dominated the global market in 2024, while the Asia-Pacific is projected to be the fastest–growing Region during the forecast period.

The Asia-Pacific region represents a dynamic market for automotive thermal management systems, driven by rapid industrialization and increasing vehicle production. China leads the regional market with its massive automotive manufacturing capabilities and growing electric vehicle sector. Japan, India, and South Korea contribute significantly to the market with their technological innovations and strong automotive manufacturing base. In December 2024, Valeo unveiled its latest thermal management system at the Automotive Engineering Exposition in Japan. This system combines intelligent sensors and sophisticated control algorithms for optimizing the heating and cooling procedures of electric cars to greatly enhance energy efficiency.  The region's rapid urbanization and increasing consumer preference for comfortable driving experiences continue to drive market growth. China maintains its position as the largest market for automotive thermal management systems in the Asia-Pacific region. The country's dominance is supported by its extensive automotive manufacturing infrastructure and rapid adoption of electric vehicles.

Chinese manufacturers are increasingly focusing on developing advanced thermal management solutions for both conventional and electric vehicles. The country's automotive sector benefits from strong government support for electric vehicle development and manufacturing. Chinese automotive companies are actively investing in research and development of innovative thermal management technologies. India emerges as the fastest-growing market in the Asia-Pacific region for automotive thermal management systems. The country's growth is driven by increasing vehicle production and rising demand for passenger comfort features. Indian automotive manufacturers are rapidly adopting advanced thermal management technologies to meet evolving consumer preferences and regulatory requirements. The country's focus on electric vehicle manufacturing creates new opportunities for thermal management system suppliers. India's automotive sector is witnessing significant investments in research and development of cost-effective thermal management solutions.

Key Findings of the Study

• The Global Automotive Thermal System Components Market is expected to reach USD 111.33 Billion by 2035, at a CAGR of 9.3% during the forecast period.


• The Asia Pacific region accounted for the fastest growth in the global market.


• Based on By Components, the HVAC segment was attributed to holding the largest market in 2024.


• Mahle GMBH, BorgWarner, Valeo Sa, Denso Corporation, Hanon Systems, Zhejiang SANHUA Intelligent Control Co., Ltd, Zhejiang YINLUN Machinery Co., Ltd, Robert Bosch GMBH, Marelli Corporation, Modine Manufacturing Company and other  are the key market pl