Automotive Thermal Systems Market Size, Share & Industry Analysis, By Component (Compressor, HVAC, Powertrain cooling, Fluid Transport), By Vehicle Type (Passenger vehicles, Commercial vehicles), By Application (Front & rear A/C, Engine and Transmission, Seat, Battery, Motor, Waste heat recovery, Power Electronics) And Regional Forecast, 2024-2032

The Automotive thermal system in an automobile is utilised to manages the temperature of major components of the vehicle through alternative engine block monitoring temperatures and reduced temperature component fluctuations. They provide better fuel economy and it is also used to provide several comforts inside the cabin such as front and rear A/C, steering heating, seat heating etc. These systems reuse the waste heat and reduces the overall CO2 emissions in an automobile.

The strict regulation on emissions, increased demand of front and rear A/C, heated steering and implementation of turbochargers in commercial vehicles are expected to drive the market growth. Also, the rapid demand for smart thermal management in automobiles and the implementation of thermal sensors in passenger vehicles are expected to boost the market growth. However, the high price of thermal system technology, variation in emission in different countries causes a lack of standardization which is expected to hamper the growth of the market

Key Market Driver -

the increased strict regulation on emissions, increased demand of A/C in the front as well as rear seats and increased sales of commercial vehicles are expected to drive the market growth

Key Market Restraint -

the high price of thermal system technology, variation in emission in different countries causes lack of standardization which is expected to hamper the growth of the market.

Market Segmentation:

The global automotive thermal systems market is segmented by component, by vehicle type, by application and by geography. Based on component the market is further sub-segmented into a compressor, HVAC, powertrain cooling and fluid transport. Among these, the compressor segment is expected to account for the largest market share in the year 2020 and it is expected to continue its dominance over the forecast period. The increased adoption of compressors in the A/C systems to absorb the heated air inside the cabin of the automobile is one of the major factors driving the growth of the market.

Based on vehicle type the market is segmented into passenger cars and commercial vehicles. The passenger vehicles segment accounted for the largest market share and it is expected to dominate the market during the forecast period with a steady CAGR. Factors such as increased demand for heated/ ventilated seats, rear and front A/C and heated steering in the passenger vehicles with the increase in sales of passenger vehicles in the APAC region are expected to drive the market growth.

Based on application the market is segmented into the front and rear A/C, Engine and transmission, seat, steering, battery, motor, power electronics and waste heat recovery. The waste heat recovery segment accounted for the largest market share in 2020 and it is expected to grow with a rapid CAGR. Factors such as increased sales of commercial vehicles and implementation of Exhaust gas recirculation (EGR) and turbochargers as standard fitments and owing to the increased emission norms, waste heat recovery technology is implemented in gasoline vehicles, these are some of the major factors driving the growth of the market.

Key Players:

Major players operating in the global automotive thermal systems market include Denso Corporation, Hanon Systems, MAHLE, BorgWarner Inc., Valeo, Grayson Thermal Systems and Gentherm Inc. among others.

Key Insights

• New Advancements in automotive thermal systems market.


• Number of Products, Key Countries, 2020


• New Product Launches, Key Players

Regional Analysis:

Geographically, the global automotive thermal systems market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific held the largest share of the market in 2020 and it is projected to dominate the market in the coming years with the highest CAGR. Factors such as increased sales of passenger vehicles, increase in per capita income, and several cost advantages due to low labour costs are expected to drive the market growth.

North America is estimated to grow steadily in the coming years. The factors such as increased demand for commercial vehicles and increase government norms towards emissions are expected to drive the market growth. Europe is expected to account for a considerable share in the market and it is expected to grow rapidly over the forecast period the factors such as the presence of major market players in the market and increased adoption of luxury passenger vehicles are expected to drive the market growth.

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Segmentation