Automotive Thermal System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Passenger Cars and Commercial Vehicles), By Application (HVAC, Powertrain Cooling, Fluid Transport, Others), By Propulsion (ICE Vehicles, Electric and Hybrid Vehicles), By Region, By Competition 2019-2029F

  • Industry : Automotive
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  • Published Date : NA
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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 99.33 Billion

CAGR (2024-2029)

6.84%

Fastest Growing Segment

Passenger Cars

Largest Market

 Asia-Pacific

Market Size (2029)

USD 139.64 Billion





Market Overview

The Global Automotive Thermal System Market size reached USD 99.33 billion in 2023 and is expected to grow with a CAGR of 6.84% in the forecast period. The global automotive thermal system market plays a crucial role in maintaining optimal operating conditions within vehicles, ensuring efficiency, performance, and passenger comfort. This market encompasses a range of components and systems designed to manage heat generated by various vehicle operations, including engine combustion, electrical systems, and climate control. Key components include radiators, heaters, HVAC (Heating, Ventilation, and Air Conditioning) systems, cooling fans, and thermal management modules, each serving specific functions to regulate temperatures and enhance vehicle performance.

One of the primary drivers of the automotive thermal system market is the increasing focus on vehicle electrification and energy efficiency. Electric and hybrid vehicles require sophisticated thermal management systems to regulate battery temperature, motor heat dissipation, and cabin climate control. This demand is further fueled by stringent environmental regulations pushing automakers towards developing energy-efficient solutions that reduce emissions and improve overall vehicle efficiency.

Additionally, advancements in automotive technology, such as autonomous driving and connectivity features, contribute to the complexity and demand for robust thermal systems. These technologies generate additional heat within vehicles, necessitating advanced cooling solutions and integrated thermal management strategies to ensure reliable operation and durability. Moreover, consumer expectations for enhanced comfort and convenience drive innovations in HVAC systems, prompting manufacturers to develop quieter, more efficient, and customizable climate control solutions.

Looking forward, the automotive thermal system market is poised for continued growth driven by ongoing technological advancements, regulatory pressures, and consumer demands for energy-efficient and comfortable vehicles. As automakers strive to meet evolving industry standards and consumer preferences, investments in research and development will play a pivotal role in shaping the future landscape of automotive thermal systems, emphasizing sustainability, performance, and enhanced user experience.

Key Market Drivers

Stricter Emissions Regulations

The global push for reduced emissions and increased fuel efficiency is a significant driver in the automotive thermal system market. Stricter emissions regulations compel manufacturers to develop advanced thermal management systems that optimize combustion temperatures, reduce emissions, and enhance engine efficiency. These systems help vehicles meet emission standards while improving overall performance.

Electrification Trends

The rise of electric vehicles (EVs) and hybrid vehicles has revolutionized thermal management requirements. Battery thermal management systems are crucial for maintaining battery health, ensuring optimal performance, and extending battery life. This driver has led to innovations in liquid cooling systems, refrigerant-based cooling, and other technologies to manage the unique thermal demands of electric drivetrains.

Autonomous Vehicles

The development of autonomous vehicles (AVs) introduces new thermal challenges. AVs are equipped with advanced sensors and computing systems that generate significant heat. Effective thermal management is vital to prevent overheating and ensure the reliable operation of autonomous systems. This driver is pushing the adoption of more efficient cooling solutions and thermal insulation in AVs.

Advanced Driver Assistance Systems (ADAS)

The proliferation of ADAS, including radar, lidar, and cameras, requires efficient thermal management. These systems generate heat during operation, and thermal systems are essential to dissipate this heat and prevent sensor malfunctions. The increasing integration of ADAS in vehicles is driving the demand for improved thermal solutions. Veoneer commenced production of an advanced automotive thermal sensing system for the 2021 Cadillac Escalade, significantly boosting road safety. The Swedish tech firm introduced its fourth-generation thermal sensing system, Night Vision, which utilized thermal imaging sensors to deliver a precise forward view up to 200 meters. This system, showcased on the Cadillac Escalade, featured a thermal camera with a wider field of view and quadrupled resolution compared to its predecessor. Mounted in the front grille, the camera projected images on Cadillac's 38-inch curved OLED screen, detecting subtle temperature differences. Additionally, the new camera was 50% smaller and lighter, aiding in the reduction of carbon emissions during shipping.

Consumer Comfort

Passenger comfort is a fundamental driver in the automotive thermal system market. Consumers expect effective cabin climate control, heating, and cooling. This demand has led to innovations in HVAC (heating, ventilation, and air conditioning) systems, including more efficient compressors, refrigerants, and zoning options to enhance passenger comfort.

Engine Downsizing

Automotive manufacturers are downsizing engines while maintaining or improving performance. This trend places higher demands on thermal systems to manage engine temperatures and prevent overheating. Innovative cooling solutions, including electric water pumps and advanced cooling fans, are being adopted to address these challenges.

Energy Efficiency

Sustainability and energy efficiency are becoming critical factors in thermal system design. Manufacturers are focusing on developing systems that reduce energy consumption, such as advanced electric cooling systems and waste heat recovery technologies. These innovations not only enhance vehicle efficiency but also align with environmental sustainability goals.

Emerging Markets

The automotive thermal system market is expanding in emerging markets, where increasing vehicle ownership and urbanization are driving demand. Consumers in these regions seek affordable and efficient thermal solutions, including air conditioning and cooling systems. This growth driver presents opportunities for market expansion and localization of thermal system technologies.

In conclusion, these drivers collectively influence the Global Automotive Thermal System Market, shaping its technological advancements, efficiency improvements, and compliance with environmental regulations. As the automotive industry continues to evolve, thermal management will remain a critical aspect of vehicle design and performance optimization.


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Key Market Challenges

Stricter Emissions Standards

The tightening of emissions standards worldwide poses a considerable challenge for automotive thermal systems. Meeting these standards requires the development of innovative technologies that reduce greenhouse gas emissions, particularly in internal combustion engine vehicles. Achieving compliance while maintaining engine efficiency and thermal comfort for passengers is a complex task.

Electrification Transition

As the automotive industry shifts toward electric vehicles (EVs), thermal management becomes more complex. Battery thermal management systems are vital for EVs, requiring effective cooling and heating to ensure battery performance and longevity. Developing cost-effective and energy-efficient solutions for battery thermal management is a significant challenge.

Thermal Compatibility in Avs

Autonomous vehicles (AVs) rely on complex sensors and computing systems that generate substantial heat. Ensuring these systems operate within their specified temperature ranges without overheating is a challenge. Developing efficient thermal management solutions that accommodate the unique heat profiles of AVs is crucial for their success.

Integration of Advanced Materials

Lightweight materials, such as aluminum and composites, are increasingly used in vehicle construction to improve fuel efficiency. However, these materials have different thermal properties than traditional steel, requiring adjustments in thermal system design to manage heat dissipation and insulation effectively.

Efficient HVAC Systems

Consumers demand efficient heating, ventilation, and air conditioning (HVAC) systems that provide quick temperature control and minimize energy consumption. Developing HVAC solutions that balance comfort, energy efficiency, and sustainability is a challenge for automotive thermal system manufacturers.

Environmental Concerns

Environmental sustainability is a growing concern in the automotive industry. Refrigerants used in air conditioning systems, such as HFCs (hydrofluorocarbons), have a high global warming potential. Finding eco-friendly alternatives that comply with regulations and perform effectively remains a challenge.

Thermal Safety

Ensuring thermal safety is critical in all vehicles. Overheating or thermal failures can lead to safety hazards, such as fires or system malfunctions. Developing fail-safe mechanisms and thermal protection systems that prevent overheating and thermal runaway is essential.

Global Variations

Automotive thermal systems must function effectively in diverse climates worldwide. Developing systems that perform optimally in extreme cold, hot, and humid conditions presents a challenge. Additionally, thermal systems must adapt to regional variations in consumer preferences and regulatory requirements.

In summary, the Global Automotive Thermal System Market faces challenges related to emissions reduction, electrification, autonomous vehicles, advanced materials, HVAC efficiency, environmental concerns, thermal safety, and global climate variations. Addressing these challenges requires continuous innovation and collaboration between automotive manufacturers, component suppliers, and regulatory authorities to ensure safe, efficient, and environmentally responsible thermal systems in vehicles.

Key Market Trends

Electrification of Vehicles

The shift toward electric vehicles (EVs) is one of the most prominent trends in the automotive thermal system market. EVs require advanced thermal management systems to regulate battery temperature, ensuring optimal performance and safety. Innovative cooling and heating solutions for EV batteries are in high demand.

Advanced Battery Thermal Management

With the proliferation of EVs, advanced battery thermal management is a critical trend. Manufacturers are developing sophisticated thermal systems to maintain battery temperatures within an ideal range. Liquid cooling, phase-change materials, and active thermal control are some of the emerging technologies in this field. For instance A new optimization system for EV batteries controlled thermal activity effectively. Rising climate change concerns and increasing gas prices have impacted the demand for EVs, tempered by safety and durability issues of EV batteries. Consequently, companies considered solid batteries, a carbon fiber-based version of larger lithium-ion batteries, incorporated into the vehicle chassis to reduce weight. Trimming a car's weight by 10% boosted mileage efficiency by 6-8%, according to estimates. Replacing portions of the car frame with carbon-fiber composites functioning as both structural components and batteries reduced weight and improved energy storage capacity. The addition of a thermal-management system enhanced range and reduced thermal runaway reactions.

Energy-Efficient HVAC Systems

Automotive HVAC (heating, ventilation, and air conditioning) systems are evolving to be more energy-efficient while delivering superior passenger comfort. Eco-friendly refrigerants and smart HVAC controls are being adopted to minimize energy consumption, aligning with environmental sustainability goals.

Thermal Comfort for Autonomous Vehicles (AVs)

As autonomous vehicles (AVs) become more prevalent, ensuring thermal comfort for passengers is a growing trend. AV interiors require effective thermal management to provide a comfortable environment for occupants, especially when traditional driver controls are absent.

Integration of Smart Sensors

The integration of smart sensors within thermal systems is gaining momentum. These sensors can monitor temperature, humidity, and passenger occupancy, allowing for real-time adjustments to heating and cooling. This trend enhances overall system efficiency and passenger comfort.

Eco-Friendly Refrigerants

Environmental concerns are driving the adoption of eco-friendly refrigerants in automotive air conditioning systems. Hydrofluoroolefins (HFOs) and natural refrigerants like carbon dioxide (CO2) are being explored as alternatives to traditional high-global-warming-potential refrigerants.

Thermal Management for Hybrid Vehicles

Hybrid vehicles, combining internal combustion engines with electric propulsion, require advanced thermal management to optimize performance. Systems that efficiently manage heat generated by both power sources are essential for hybrid vehicle success.

Thermal Safety Systems

Ensuring thermal safety is a critical trend in the industry. Thermal protection systems and fail-safe mechanisms are being integrated into thermal systems to prevent overheating and potential safety hazards. This is particularly important as vehicles become more electrified and incorporate advanced electronics.

In conclusion, the Global Automotive Thermal System Market is experiencing transformative trends driven by electrification, advanced battery management, energy efficiency, autonomous vehicles, smart sensors, environmental sustainability, hybrid technology, and thermal safety. These trends reflect the industry's commitment to addressing environmental concerns, enhancing passenger comfort, and adapting to the evolving landscape of automotive technology.

Segmental Insights

By Vehicle Type

The global automotive thermal system market is segmented by vehicle type into passenger cars and commercial vehicles, each presenting distinct dynamics and requirements within the thermal management landscape. Passenger cars constitute a significant portion of the market, driven by the mass consumer adoption worldwide. Thermal systems in passenger cars encompass a range of components such as radiators, HVAC systems, and cooling fans, crucial for maintaining optimal engine temperature and providing comfortable cabin conditions. The emphasis on passenger comfort and increasing integration of advanced technologies like electric vehicles (EVs) and hybrid electric vehicles (HEVs) further propel the demand for efficient thermal management solutions in this segment.

On the other hand, commercial vehicles, including trucks, buses, and vans, have specific thermal system needs due to their heavier payloads and extended operational durations. These vehicles require robust cooling systems to manage engine heat under heavy-duty conditions and ensure reliable performance across varying environmental and operational contexts. Additionally, advancements in thermal management technologies for commercial vehicles focus on enhancing fuel efficiency, reducing emissions, and meeting stringent regulatory standards, particularly in regions with strict environmental policies.

Both vehicle types benefit from ongoing innovations in thermal management, driven by the need for energy efficiency, sustainability, and compliance with emissions regulations. Manufacturers continue to invest in research and development to improve the performance and reliability of thermal systems, addressing challenges such as heat dissipation, cabin comfort, and operational durability. As automotive trends evolve towards electrification and autonomous functionalities, the demand for sophisticated thermal solutions across both passenger and commercial vehicle segments is expected to grow, presenting opportunities for technology advancements and market expansion in the global automotive thermal system industry.


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Regional Insights

The global automotive thermal system market exhibits varying dynamics across different regions, reflecting diverse automotive landscapes and regulatory environments. North America represents a mature market characterized by stringent emissions regulations and consumer demand for advanced vehicle technologies. Thermal systems in this region focus on efficiency improvements and compliance with environmental standards, driving innovation in components like radiators, HVAC systems, and cooling modules. The emphasis on electric and hybrid vehicles further influences the development of thermal management solutions that optimize battery performance and maintain cabin comfort.

In Europe & CIS (Commonwealth of Independent States), automotive thermal systems align closely with stringent EU regulations aimed at reducing vehicle emissions and improving fuel efficiency. The region places a strong emphasis on sustainability, prompting manufacturers to invest in eco-friendly technologies and thermal management solutions that minimize environmental impact. This includes advancements in thermal insulation, energy-efficient HVAC systems, and smart cooling technologies tailored to varying climatic conditions across European countries and CIS member states.

Asia Pacific emerges as a pivotal region in the automotive thermal system market, driven by robust automotive production in countries like China, Japan, India, and South Korea. The region benefits from rapid urbanization, rising disposable incomes, and increasing consumer demand for passenger vehicles and commercial fleets. Thermal systems in Asia Pacific cater to diverse climatic conditions, requiring adaptable solutions that ensure engine efficiency, cabin comfort, and operational reliability. Moreover, the shift towards electric vehicles and the integration of advanced driver assistance systems (ADAS) spur demand for innovative thermal management technologies capable of supporting these evolving automotive trends.

South America and the Middle East & Africa present unique challenges and opportunities within the automotive thermal system market. In South America, countries like Brazil are key automotive manufacturing hubs, focusing on local production and export-oriented strategies. The region's thermal systems are geared towards enhancing vehicle performance under tropical climates while meeting regional emissions standards. Meanwhile, in the Middle East & Africa, the automotive thermal system market is influenced by infrastructure development, urbanization trends, and economic growth. Thermal solutions here cater to extreme temperature variations and rugged terrains, emphasizing durability, efficiency, and adaptability to local market conditions.

Overall, the global automotive thermal system market showcases a diverse landscape shaped by regional regulations, consumer preferences, and technological advancements. Manufacturers and suppliers continue to innovate to address specific regional challenges and opportunities, ensuring that thermal systems meet the evolving demands of both traditional and emerging automotive markets worldwide.

Recent Developments

  • In June 2024, Vibracoustic has unveiled a new thermal management decoupling system designed specifically for electric vehicles (EVs). This innovative system aims to enhance efficiency and performance by effectively managing heat dissipation within EV components. By decoupling thermal management processes, Vibracoustic seeks to optimize battery life and ensure consistent vehicle operation under varying environmental conditions. The system's integration underscores Vibracoustic's commitment to advancing sustainable automotive solutions amidst the growing EV market. This development marks a significant step forward in addressing critical thermal management challenges faced by electric vehicle manufacturers worldwide.
  • In July 2023, Marelli has unveiled a cutting-edge thermal management module tailored specifically for electric vehicles (EVs). This new module aims to optimize temperature control and efficiency across EV systems, including batteries and electric motors. Marelli's innovation promises to enhance vehicle performance, extend battery life, and improve overall energy management capabilities. The module's advanced design integrates sophisticated cooling and heating functionalities, addressing critical thermal challenges in electric vehicle technology. Marelli's commitment to sustainable automotive solutions is reflected in this latest development, poised to meet the evolving demands of the global EV market.

Key Market Players

  • Robert Bosch GmbH
  • Dana Incorporated
  • MAHLE GmbH
  • Gentherm Inc.
  • Hanon Systems
  • Denso Corporation
  • BorgWarner Inc.
  • Valeo Group
  • Modine Manufacturing Company
  • Schaeffler Technologies AG & Co. KG

By Vehicle Type

By Application

By Propulsion

By Region
  • Passenger Cars
  • Commercial Vehicles
  • HVAC
  • Powertrain Cooling
  • Fluid Transport
  • Others
  • ICE Vehicles
  • Electric Vehicles
  • Hybrid Vehicles
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Automotive Thermal System Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Automotive Thermal System Market, By Vehicle Type:

o   Passenger Cars

o   Commercial Vehicles

  • Automotive Thermal System Market, By Application:

o   HVAC

o   Powertrain Cooling

o   Fluid Transport

o   Others

  • Automotive Thermal System Market, By Propulsion:

o   ICE Vehicles

o   Electric Vehicles

o   Hybrid Vehicles

  • Automotive Thermal System Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  Turkey

§  Iran

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Automotive Thermal System Market.

Available Customizations:

Global Automotive Thermal System Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Automotive Thermal System Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.     Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Automotive Thermal System Market

5.    Global Automotive Thermal System Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Volume & Value

5.2.  Market Share & Forecast

5.2.1.     By Vehicle Type Market Share Analysis (Passenger Cars and Commercial Vehicles)

5.2.2.     By Application Market Share Analysis (HVAC, Powertrain Cooling, Fluid Transport, Others)

5.2.3.     By Propulsion Market Share Analysis (ICE Vehicles, Electric and Hybrid Vehicles)

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         Asia-Pacific Market Share Analysis

5.2.4.2.         Europe & CIS Market Share Analysis

5.2.4.3.         North America Market Share Analysis

5.2.4.4.         South America Market Share Analysis

5.2.4.5.         Middle East & Africa Market Share Analysis

5.2.5.     By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)

5.3.  Global Automotive Thermal System Market Mapping & Opportunity Assessment

5.3.1.     By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2.     By Application Market Mapping & Opportunity Assessment

5.3.3.     By Propulsion Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Automotive Thermal System Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume & Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type Market Share Analysis

6.2.2.     By Application Market Share Analysis

6.2.3.     By Propulsion Market Share Analysis

6.2.4.     By Country Market Share Analysis

6.2.4.1.         China Market Share Analysis

6.2.4.2.         India Market Share Analysis

6.2.4.3.         Japan Market Share Analysis

6.2.4.4.         Indonesia Market Share Analysis

6.2.4.5.         Thailand Market Share Analysis

6.2.4.6.         South Korea Market Share Analysis

6.2.4.7.         Australia Market Share Analysis

6.2.4.8.         Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China Automotive Thermal System Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Volume & Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Vehicle Type Market Share Analysis

6.3.1.2.2.             By Application Market Share Analysis

6.3.1.2.3.             By Propulsion Market Share Analysis

6.3.2.     India Automotive Thermal System Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Volume & Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Vehicle Type Market Share Analysis

6.3.2.2.2.             By Application Market Share Analysis

6.3.2.2.3.             By Propulsion Market Share Analysis

6.3.3.     Japan Automotive Thermal System Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Volume & Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Vehicle Type Market Share Analysis

6.3.3.2.2.             By Application Market Share Analysis

6.3.3.2.3.             By Propulsion Market Share Analysis

6.3.4.     Indonesia Automotive Thermal System Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Volume & Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Vehicle Type Market Share Analysis

6.3.4.2.2.             By Application Market Share Analysis

6.3.4.2.3.             By Propulsion Market Share Analysis

6.3.5.     Thailand Automotive Thermal System Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Volume & Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Vehicle Type Market Share Analysis

6.3.5.2.2.             By Application Market Share Analysis

6.3.5.2.3.             By Propulsion Market Share Analysis

6.3.6.     South Korea Automotive Thermal System Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Volume & Value

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Vehicle Type Market Share Analysis

6.3.6.2.2.             By Application Market Share Analysis

6.3.6.2.3.             By Propulsion Market Share Analysis

6.3.7.     Australia Automotive Thermal System Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Volume & Value

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Vehicle Type Market Share Analysis

6.3.7.2.2.             By Application Market Share Analysis

6.3.7.2.3.             By Propulsion Market Share Analysis

7.    Europe & CIS Automotive Thermal System Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume & Value

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type Market Share Analysis

7.2.2.     By Application Market Share Analysis

7.2.3.     By Propulsion Market Share Analysis

7.2.4.     By Country Market Share Analysis

7.2.4.1.         Germany Market Share Analysis

7.2.4.2.         Spain Market Share Analysis

7.2.4.3.         France Market Share Analysis

7.2.4.4.         Russia Market Share Analysis

7.2.4.5.         Italy Market Share Analysis

7.2.4.6.         United Kingdom Market Share Analysis

7.2.4.7.         Belgium Market Share Analysis

7.2.4.8.         Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.     Germany Automotive Thermal System Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Volume & Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Vehicle Type Market Share Analysis

7.3.1.2.2.             By Application Market Share Analysis

7.3.1.2.3.             By Propulsion Market Share Analysis

7.3.2.     Spain Automotive Thermal System Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Volume & Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Vehicle Type Market Share Analysis

7.3.2.2.2.             By Application Market Share Analysis

7.3.2.2.3.             By Propulsion Market Share Analysis

7.3.3.     France Automotive Thermal System Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Volume & Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Vehicle Type Market Share Analysis

7.3.3.2.2.             By Application Market Share Analysis

7.3.3.2.3.             By Propulsion Market Share Analysis

7.3.4.     Russia Automotive Thermal System Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Volume & Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Vehicle Type Market Share Analysis

7.3.4.2.2.             By Application Market Share Analysis

7.3.4.2.3.             By Propulsion Market Share Analysis

7.3.5.     Italy Automotive Thermal System Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Volume & Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Vehicle Type Market Share Analysis

7.3.5.2.2.             By Application Market Share Analysis

7.3.5.2.3.             By Propulsion Market Share Analysis

7.3.6.     United Kingdom Automotive Thermal System Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Volume & Value

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Vehicle Type Market Share Analysis

7.3.6.2.2.             By Application Market Share Analysis

7.3.6.2.3.             By Propulsion Market Share Analysis

7.3.7.     Belgium Automotive Thermal System Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Volume & Value

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Vehicle Type Market Share Analysis

7.3.7.2.2.             By Application Market Share Analysis

7.3.7.2.3.             By Propulsion Market Share Analysis

8.    North America Automotive Thermal System Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Volume & Value

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type Market Share Analysis

8.2.2.     By Application Market Share Analysis

8.2.3.     By Propulsion Market Share Analysis

8.2.4.     By Country Market Share Analysis

8.2.4.1.         United States Market Share Analysis

8.2.4.2.         Mexico Market Share Analysis

8.2.4.3.         Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.     United States Automotive Thermal System Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Volume & Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Vehicle Type Market Share Analysis

8.3.1.2.2.             By Application Market Share Analysis

8.3.1.2.3.             By Propulsion Market Share Analysis

8.3.2.     Mexico Automotive Thermal System Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Volume & Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Vehicle Type Market Share Analysis

8.3.2.2.2.             By Application Market Share Analysis

8.3.2.2.3.             By Propulsion Market Share Analysis

8.3.3.     Canada Automotive Thermal System Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Volume & Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Vehicle Type Market Share Analysis

8.3.3.2.2.             By Application Market Share Analysis

8.3.3.2.3.             By Propulsion Market Share Analysis

9.    South America Automotive Thermal System Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Volume & Value

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type Market Share Analysis

9.2.2.     By Application Market Share Analysis

9.2.3.     By Propulsion Market Share Analysis

9.2.4.     By Country Market Share Analysis

9.2.4.1.         Brazil Market Share Analysis

9.2.4.2.         Argentina Market Share Analysis

9.2.4.3.         Colombia Market Share Analysis

9.2.4.4.         Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.     Brazil Automotive Thermal System Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Volume & Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Vehicle Type Market Share Analysis

9.3.1.2.2.             By Application Market Share Analysis

9.3.1.2.3.             By Propulsion Market Share Analysis

9.3.2.     Colombia Automotive Thermal System Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Volume & Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Vehicle Type Market Share Analysis

9.3.2.2.2.             By Application Market Share Analysis

9.3.2.2.3.             By Propulsion Market Share Analysis

9.3.3.     Argentina Automotive Thermal System Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Volume & Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Vehicle Type Market Share Analysis

9.3.3.2.2.             By Application Market Share Analysis

9.3.3.2.3.             By Propulsion Market Share Analysis

10.  Middle East & Africa Automotive Thermal System Market Outlook

10.1.            Market Size & Forecast

10.1.1.  By Volume & Value

10.2.            Market Share & Forecast

10.2.1.  By Vehicle Type Market Share Analysis

10.2.2.  By Application Market Share Analysis

10.2.3.  By Propulsion Market Share Analysis

10.2.4.  By Country Market Share Analysis

10.2.4.1.      Turkey Market Share Analysis

10.2.4.2.      Iran Market Share Analysis

10.2.4.3.      Saudi Arabia Market Share Analysis

10.2.4.4.      UAE Market Share Analysis

10.2.4.5.      Rest of Middle East & Africa Market Share Analysis

10.3.            Middle East & Africa: Country Analysis

10.3.1.  Turkey Automotive Thermal System Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Volume & Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Vehicle Type Market Share Analysis

10.3.1.2.2.           By Application Market Share Analysis

10.3.1.2.3.           By Propulsion Market Share Analysis

10.3.2.  Iran Automotive Thermal System Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Volume & Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Vehicle Type Market Share Analysis

10.3.2.2.2.           By Application Market Share Analysis

10.3.2.2.3.           By Propulsion Market Share Analysis

10.3.3.  Saudi Arabia Automotive Thermal System Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Volume & Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Vehicle Type Market Share Analysis

10.3.3.2.2.           By Application Market Share Analysis

10.3.3.2.3.           By Propulsion Market Share Analysis

10.3.4.  UAE Automotive Thermal System Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Volume & Value

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Vehicle Type Market Share Analysis

10.3.4.2.2.           By Application Market Share Analysis

10.3.4.2.3.           By Propulsion Market Share Analysis

11.  SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12.  Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1.  Robert Bosch GmbH

14.1.1.1.      Company Details

14.1.1.2.      Key Product Offered

14.1.1.3.      Financials (As Per Availability)

14.1.1.4.      Recent Developments

14.1.1.5.      Key Management Personnel

14.1.2.  Dana Incorporated

14.1.2.1.      Company Details

14.1.2.2.      Key Product Offered

14.1.2.3.      Financials (As Per Availability)

14.1.2.4.      Recent Developments

14.1.2.5.      Key Management Personnel

14.1.3.  MAHLE GmbH

14.1.3.1.      Company Details

14.1.3.2.      Key Product Offered

14.1.3.3.      Financials (As Per Availability)

14.1.3.4.      Recent Developments

14.1.3.5.      Key Management Personnel

14.1.4.   Gentherm Inc.

14.1.4.1.      Company Details

14.1.4.2.      Key Product Offered

14.1.4.3.      Financials (As Per Availability)

14.1.4.4.      Recent Developments

14.1.4.5.      Key Management Personnel

14.1.5.  Hanon Systems

14.1.5.1.      Company Details

14.1.5.2.      Key Product Offered

14.1.5.3.      Financials (As Per Availability)

14.1.5.4.      Recent Developments

14.1.5.5.      Key Management Personnel

14.1.6.  Denso Corporation

14.1.6.1.      Company Details

14.1.6.2.      Key Product Offered

14.1.6.3.      Financials (As Per Availability)

14.1.6.4.      Recent Developments

14.1.6.5.      Key Management Personnel

14.1.7.  BorgWarner Inc.

14.1.7.1.      Company Details

14.1.7.2.      Key Product Offered

14.1.7.3.      Financials (As Per Availability)

14.1.7.4.      Recent Developments

14.1.7.5.      Key Management Personnel

14.1.8.  Valeo Group

14.1.8.1.      Company Details

14.1.8.2.      Key Product Offered

14.1.8.3.      Financials (As Per Availability)

14.1.8.4.      Recent Developments

14.1.8.5.      Key Management Personnel

14.1.9.  Modine Manufacturing Company

14.1.9.1.      Company Details

14.1.9.2.      Key Product Offered

14.1.9.3.      Financials (As Per Availability)

14.1.9.4.      Recent Developments

14.1.9.5.      Key Management Personnel

14.1.10. Schaeffler Technologies AG & Co. KG

14.1.10.1.    Company Details

14.1.10.2.    Key Product Offered

14.1.10.3.    Financials (As Per Availability)

14.1.10.4.    Recent Developments

14.1.10.5.    Key Management Personnel

15.  Strategic Recommendations

15.1.            Key Focus Areas

15.1.1.  Target Regions

15.1.2.  Target Vehicle Type

15.1.3.  Target Component

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The Global Automotive Thermal System Market size reached USD 99.33 billion in 2023

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The passenger car segment reigns supreme in the vehicle type category, asserting its dominance in the automotive market. This segment encompasses a wide range of consumer vehicles, from compact cars to luxury sedans, and holds the largest share in terms of sales and popularity. Factors such as personal transportation needs and diverse consumer preferences contribute to the enduring dominance of passenger cars in the automotive industry.

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The dominant region in the Global Automotive Thermal System Market is Asia-Pacific. This dynamic region, driven by countries like China, Japan, and South Korea, showcases robust growth due to expanding vehicle ownership, urbanization, and a thriving automotive industry. Asia-Pacific's increasing demand for efficient thermal systems, especially in electric vehicles, positions it as a leader in the global market.

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The Global Automotive Thermal System Market is primarily driven by several key factors. Firstly, the increasing demand for electric vehicles (EVs) necessitates advanced battery thermal management systems. Secondly, stringent emissions regulations worldwide require innovative exhaust gas management solutions. Thirdly, the rising emphasis on passenger comfort and HVAC efficiency fuels the demand for cutting-edge thermal systems in conventional and hybrid vehicles. These factors collectively propel the growth of the automotive thermal system market.

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Srishti Verma

Business Consultant
Press Release

Global Automotive Thermal System Market to Grow with a CAGR of 6.84% through 2029

Jul, 2024

Increasing vehicle electrification, stringent emissions regulations, and advancements in thermal management technologies are the factors driving the market in the forecast period 2025-2029.

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