"Market Intelligence for High-Geared Performance"

Automotive Valve Market Size, Share & Industry Analysis, By Type (Poppet Valves, Rotary/Butterfly Valves, Ball Valves, Needle/Spool Valves, Solenoid Valves, and Others), By Vehicle Type (Two Wheeler, Passenger Cars, and Commercial Vehicles), By Application (Engine Valves, Fuel Valves, Brake System, Transmission System, and HVAC System), By Material (Steel, Titanium, and Aluminum Alloys), and Regional Forecast, 2026-2034

Last Updated: February 05, 2026 | Format: PDF | Report ID: FBI102031

 

Automotive Valve Market Size

Play Audio Listen to Audio Version

The global automotive valve market size was valued at USD 12.62 billion in 2025. The market is projected to grow from USD 13.23 billion in 2026 to USD 18.66 billion by 2034, exhibiting a CAGR of 4.4% during the forecast period.

Automotive valves are mechanical or electromechanical components that regulate, control, or direct the flow of fluids, gases, or vapors within various vehicle systems. They are critical to the functioning of engines, transmissions, braking systems, fuel systems, and HVAC systems, ensuring efficient combustion, pressure regulation, and emission control. Found in both internal combustion and electric vehicles, these valves include solenoid, poppet, spool, and butterfly types. Their precision and reliability directly influence vehicle performance, safety, and energy efficiency, making them essential components in modern automotive engineering.

The global market is characterized by ongoing technological advancements driven by electrification, emissions regulations, and the development of advanced thermal management systems. The growing adoption of electric and hybrid vehicles is fueling demand for solenoid and thermal control valves used in battery cooling and heat pump systems. Engine and transmission valves remain vital in ICE vehicles, though their share is gradually declining. Major players, including Bosch, Denso, Continental, Eaton, Mahle, Hitachi Astemo, and BorgWarner, are expanding their portfolios to include electronically controlled and lightweight valve technologies. The Asia Pacific region dominates production, supported by the expansion of vehicle manufacturing hubs and the localization of Tier-1 supplier networks.

U.S. tariff policies, particularly those on imported auto components from Asia and Europe, have affected global markets by increasing manufacturing and procurement costs. These tariffs have led to supply chain realignments, encouraging localization and reshoring of valve production within North America. While domestic producers such as Eaton and BorgWarner benefit from reduced import competition, Tier-1 suppliers that rely on Asian manufacturing face increased cost pressures. Consequently, global OEMs are diversifying sourcing strategies and establishing regional production bases to mitigate tariff-related disruptions and maintain pricing stability.

AUTOMOTIVE VALVE MARKET TRENDS

Shift from Purely Mechanical Valve Systems to Multi-Loop Thermal Valve Architectures is One of Significant Market Trends

One of the defining trends in the market is the shift from traditional valve systems, designed around internal combustion engine (ICE) air/fuel/exhaust flows, to multi-loop electronic thermal and coolant valve architectures required by electrified vehicles (EVs and hybrids). Engineers now remark that thermal management has become a defining engineering challenge for EVs, with battery packs, power electronics, and cabin systems needing precise flow control and temperature regulation.

Automakers are acknowledging that modern vehicles use multiple discrete valve modules in cooling loops, heat-pump HVAC systems, and battery thermal circuits, far more than the simpler thermostats or poppet valves of an ICE. A recent article on EV thermal management highlighted that optimized valve designs have a significant impact on vehicle performance and packaging, noting that valve design's effect on global vehicle performance is considerable when cold and hot flows mix through the valve.

In practice, this means valve manufacturers are evolving their product portfolios: from conventional engine intake/exhaust valves, they are now investing in proportional coolant valves, electronic expansion valves (EXV), and multi-way modules for small- to large-scale EV platforms. As a result, the valve count per vehicle and, more importantly, the value and complexity of each valve module are increasing.

In conclusion, the trend toward vehicle electrification and sophisticated thermal management systems is reshaping the global market, creating a tangible shift in valve types, actuation methods, materials, and system architecture. Suppliers able to pivot into this next-generation thermal-valve domain are best positioned to benefit from this trend.

Download Free sample to learn more about this report.

MARKET DYNAMICS

MARKET DRIVERS

Rapid Electrification of Vehicles to Boost Market Growth

One of the major driving factors for the global automotive valve market growth is the accelerating shift toward electrified vehicles (EVs/HEVs) and the corresponding rise in demand for advanced thermal-management systems. As the propulsion mix transitions, automakers are increasingly integrating valve-based systems that precisely regulate the flow of coolant and refrigerants, key to maintaining optimal temperatures for the battery, inverter, and motor. TLX Technologies introduced modular 3-way and 4-way switching valves designed to provide OEM and system design teams with thermal management controls that are compatible with multiple vehicle platforms, thereby reducing cross-flow leakage and improving energy efficiency.

It is reported that electric-vehicle manufacturers represent the paramount customer segment driving demand for automotive thermal-management electric valves. These valves are integrated into over 70 % of new battery-electric vehicles globally, according to industry commentary.  These valves support functions such as battery cooling, cabin heat pump operations, power electronics cooling loops, and waste heat recirculation, all of which directly influence vehicle range, improve fuel efficiency, and reduce emissions. As OEMs design more complex, multi-loop thermal circuits, the number and complexity of valves per vehicle increase.

In conclusion, the electrification megatrend is prompting a shift from traditional mechanical valve systems to smart, electronically actuated thermal valve solutions. This shift is providing a strong structural growth driver for the market. Valve density per vehicle is rising even as ICE volumes soften, so manufacturers and suppliers focused on thermal-management valve technologies are seeing heightened demand and strategic importance.

MARKET RESTRAINTS

Increasing EVs Have Reduced Need for Traditional Engine Valves and Associated Valve Train Components, Hindering Market Growth

As the automotive industry accelerates the shift toward electric vehicles (EVs) and hybrid powertrains, one major restraint on industry expansion is the reduced need for traditional engine valves and associated valve-train components. For instance, ICE-powered vehicles, which account for a large portion of traditional valve installations (intake, exhaust, EGR, fuel metering), are declining in many regions.

In a recent news development, the Japan Automobile Manufacturers Association noted that, heading into 2025, production of traditional petrol and diesel models is projected to decline in favor of BEV/plug-in hybrid electric vehicle (PHEV) variants, resulting in a significant reduction in engine-valve assemblies. Meanwhile, several valve producers, such as Eaton Corporation, have disclosed that their shift away from purely ICE valve modules toward thermal-management valve modules is necessary to offset declining engine valve volumes.

As many ICE vehicles utilize multiple intake/exhaust valves per cylinder, along with associated oil control, EGR, and turbo-boost control valves, the cumulative content per vehicle has historically been high. As automakers reduce cylinder counts, adopt cylinder deactivation, or replace ICEs entirely, the absolute number of traditional valves falls. This means fewer valves are installed per vehicle in many powertrains, reducing the baseline volume for traditional valve manufacturers. The transitional period requires firms to invest in new valve types; however, the decline in legacy ICE valve demand slows growth and heightens the risk of oversupply, pricing pressure, and investment uncertainty in conventional valve segments.

MARKET OPPORTUNITIES

Accelerating Deployment of Advanced Thermal Management Systems for Electric and Hybrid Vehicles Generates Beneficial Growth Opportunities

A major opportunity for the market lies in the escalating adoption of advanced thermal-management systems in electric and hybrid vehicles, driving demand for sophisticated valve technologies. For example, Valeo S.A. recently announced a compact 5-Ways Refrigerant Valve designed for next-generation EV heat-pump systems, highlighting how a single valve module can reduce system complexity while increasing energy efficiency.

Likewise, Hanon Systems launched its fourth-generation heat-pump system for EVs, incorporating advanced coolant and refrigerant controls that rely heavily on multi-way valve architectures. Statistically, heat-pump systems help improve EV range in cold conditions by approximately 8% to 10%, as reported in a technical review of EV systems. Moreover, industry commentary indicates that OEMs are increasingly integrating electric thermal management valves into battery, motor, power electronics, and cabin circuits as standard.

These trends directly benefit the valves market as valves are transitioning from purely mechanical intake/exhaust or hydraulic transmissions to electronically controlled, multi-port coolant/refrigerant valves in EVs. As thermal architectures become more complex, combining battery cooling, inverter/chassis cooling, cabin heat-pump loops, and refrigerant switching circuits, the number of valves per vehicle and the value per valve module increases. For instance, the heat-pump article identifies the use of two-way and three-way solenoid valves within the architecture, making valve OEMs critical to system design.

The shift to electrified mobility and integrated thermal systems represents a substantial opportunity for valve manufacturers. Rather than declining with ICE valve volumes, the valve content per electric vehicle is rising. Companies that pivot from legacy poppet or transmission spool valves into proportional, multi-way thermal and refrigerant valve architectures stand to capture the accelerating demand tied to EV range performance, comfort, and battery life.

Segmentation Analysis

By Type

Poppet Valves Dominate Due to Vast Global Fleet of ICE and HEV Powertrains

By type, the market is classified into poppet valves, rotary/butterfly valves, ball valves, needle/spool valves, solenoid valves, and others.

Poppet valves dominate the market as every ICE cylinder requires multiple intake/exhaust poppets, delivering unmatched unit volumes despite electrification. The IEA’s confirmation that only 20% of 2023 global car sales were electric implies the vast majority still require poppet valves. On the supply side, MAHLE publicly documents a broad valve-train portfolio featuring forged/extruded valves, and hardened/nitrided/chrome-plated options and new H₂-engine solutions, which helps retain technical and cost leadership in high-volume ICE platforms.

Global ICE-vehicle production, combined with the enormous in-use parc, ensures replacements/overhauls, and new-build demand. As emissions and durability requirements tighten, advanced seat/guide materials, along with coatings, increase value per poppet. Poppet valves remain the largest single valve type, funding R&D and enabling suppliers to cross-invest in next-generation EV thermal valves supporting the broader market’s transition.

In 2025, U.S. local reports noted that Eaton was winding down a legacy engine-valve line in Kearney as it pivoted toward electrification and mechatronics, illustrating the industry's rebalancing rather than the instant disappearance of poppet demand. Meanwhile, EV-focused valve innovations (e.g., TLX switching valves; Valeo 5-way refrigerant valve) show suppliers expanding the overall valve toolkit, rather than erasing poppet fitment where ICEs persist.

To know how our report can help streamline your business, Speak to Analyst

By Vehicle Type

Passenger Cars Dominate Market Due to Increasing Use of Braking and Control Valves

By vehicle type, the market is segmented into two wheeler, passenger cars, and commercial vehicles.

Passenger cars dominate the market, accounting for the largest share of global vehicle production and incorporating valves across various systems, including engine/fuel, braking, transmission hydraulics, and HVAC/thermal systems. OICA 2024 reveals enormous passenger vehicle production, with notable examples including China at 27.48 million, Germany at 4.07 million, and India at 4.99 million, which is orders of magnitude higher than the output of buses and coaches, underscoring the primacy of passenger cars.

Passenger-car volumes mean scale, and the transition to heat-pump HVAC and multi-loop cooling boosts valve content per vehicle. Combined with safety-feature mandates and the increasing use of braking and control valves, the passenger-car segment remains the most powerful growth conduit for global valve suppliers.

Electrification adds a new valve stack (electronic expansion valves, multi-way coolant valves) rather than eliminating valves. In November 2025, Valeo’s 5-way refrigerant valve (CES Honoree) exemplified how passenger EVs integrate fewer components via multi-port valves, supporting both efficiency and packaging.

By Application

Engine Valves Lead Market as ICE Vehicles Still Make Up a Clear Majority of Global Light-Vehicle Sales and Production

By application, the market is segmented into engine valves, fuel valves, brake system, transmission system, and HVAC system.

The engine valves dominate the market. The IEA notes that nearly one in five cars sold in 2023 were electric, meaning roughly 80% were non-EV, all of which rely on intake/exhaust poppet valves, as well as EGR and auxiliary valves in many powertrains. Even as EVs rise, the installed base and continued global production of internal combustion engines (especially in emerging markets and commercial applications) keep engine valves the highest-volume application, with billions in the automotive engine valve market. Meanwhile, suppliers are up-engineering (coatings, alloys, guides/seats) to meet stricter emissions and durability targets, sustaining value per engine and supporting the broader automotive valve demand.

In October 2024, TLX Technologies introduced 3-way/4-way switching valves for EV thermal loops, again showing portfolio broadening rather than immediate displacement. In 2024–2025, MAHLE continued to highlight comprehensive valve-train capabilities (including new materials and H₂-capable solutions), reinforcing its leadership in core investments in the automotive engine valve market.

By Material

Steel’s Global Availability, Cost Stability, and Process Maturity Makes It Dominate Market

By material, the market is divided into steel, titanium, and aluminum alloys.

Steel dominates the automotive valve market share due to its cost-effectiveness, machinability, and heat/wear resistance, especially for engine poppets, guides, seats, brakes, and transmission hydraulic components. The ICCT (2025) highlights that the U.S. auto industry is among the largest consumers of steel, and shifting to green steel is a major lever for decarbonization, evidence that steel remains structurally critical in vehicle manufacturing. Steel’s global availability, cost stability, and process maturity make it the default material for high-volume valve applications. As OEMs push for lighter, stronger parts, AHSS and tailored heat treatments elevate performance without severe cost penalties, keeping steel-based valves dominant and ensuring scalable volumes that sustain the entire automotive valve value chain.

The U.S. DOE notes that even as light-weighting progresses, advanced high-strength steels (AHSS) remain a primary pathway, given a 10 to 60% component weight reduction potential while preserving safety and manufacturability, thereby sustaining steel’s central role rather than eliminating it. In 2024, WorldAutoSteel reported active OEM technical transfer sessions focused on steel selection and crash results, reinforcing the evolution of steel.  In January 2025, the American Iron & Steel Institute released an updated automotive-steel sustainability fact sheet, underscoring the adoption of AHSS in new platforms.

AUTOMOTIVE VALVE MARKET REGIONAL OUTLOOK

By geography, the market is categorized into Europe, North America, Asia Pacific, and the Rest of the World.

Asia Pacific

Asia Pacific Automotive Valve Market Size, 2025 (USD Billion)

To get more information on the regional analysis of this market, Download Free sample

Asia Pacific dominates the global market due to unmatched production scale and EV leadership. In August 2024, Hanon Systems launched its 4th-generation EV heat pump, rich in multi-way valves, reinforcing Asia Pacific’s pull on next-generation valve demand.

China Automotive Valve Market

China leads valve demand with massive EV volumes, accounting for 55.4% of the market. High NEV penetration drives the need for thermal and battery-protection valves, while ongoing ICE production sustains the demand for engine and transmission valve requirements.

Japan Automotive Valve Market

Japan’s market emphasizes hybridization. Japan was valued at USD 0.84 billion in 2025. Strong HEV output boosts oil-control and thermal valves, supported by Tier-1 innovation and stable domestic production.

India Automotive Valve Market

India’s growth with a CAGR of 5.0% is driven by expanding passenger-car production and BS-VI compliance, while sustaining engine and brake valve demand, and early EV adoption adds incremental thermal valve demand.

North America

The market in North America is growing steadily, driven by safety mandates, the increasing demand for commercial vehicles, and the adoption of electrified thermal systems. In May 2024, the NHTSA finalized FMVSS 127, mandating automatic emergency braking (AEB) on all new light vehicles by 2029, which is expected to boost demand for hydraulic brake control valves. In 2024, U.S. vehicle production exceeded 10 million units (OICA), sustaining high volumes of engine, brake, and transmission valves. Additionally, OEM investments in EV heat pumps are increasing the adoption of multi-way coolant and refrigerant valves, supporting value growth despite moderating ICE volumes.

U.S. Automotive Valve Market

The U.S. was valued at USD 1.50 billion in 2025. The U.S. drives regional valve demand through high pickup/SUV output and regulations such as mandatory AEB. Strong truck production sustains air-brake and hydraulic valve volumes alongside rising EV thermal-valve integration.

Europe

Europe is the fastest-growing region in terms of valve content per vehicle, driven by regulations and electrification. The EU adopted Euro 7 in April 2024, extending limits to brake emissions and battery durability, raising demand for precision hydraulic, EGR, and thermal valves. ACEA reported that hybrids accounted for 29% of EU car sales in 2024, accelerating the adoption of heat-pump HVAC systems. In November 2025, Valeo’s CES-honored 5-way refrigerant valve highlighted Europe’s leadership in multi-function thermal valves, increasing valve density per EV.

U.K. Automotive Valve Market

U.K. valve demand is driven by hybrid growth at a 4.7% CAGR and safety compliance. Rising HEV penetration increases thermal and brake valve content, while domestic assembly relies on high-precision imported valve systems.

Germany

Germany anchors Europe’s valve innovation valued at USD 0.96 billion in 2025. Strong premium OEM output and Euro 7 readiness elevate demand for advanced brake, emission, and EV thermal valves integrated with mechatronic controls.

Rest of the World

The Rest of the World market growth is supported by Brazil, Turkiye, and South Africa, where safety and HVAC penetration are rising. Brazil sold around 2.64 million vehicles in 2024 (ANFAVEA), its highest total in a decade, which is expected to strengthen demand for brake and engine valves. Hot climates across the Middle East and North Africa region increase reliance on HVAC valves, while the gradual adoption of ABS lifts hydraulic valve content. CKD/SKD EV programs are beginning to introduce thermal valves, which could add future upside.

COMPETITIVE LANDSCAPE

Key Industry Players

Shift to Lightweight, High-Temperature, Sensorized Valve Platforms Defines Leaders’ Competitive Edge

The market is led by Bosch, Denso, Eaton, MAHLE, Aisin, Continental, Tenneco (formerly Federal-Mogul), and BorgWarner (including Delphi Technologies), competing across intake/exhaust engine valves, EGR/purge valves, turbo/VTG actuators, GDI fuel metering, and EV thermal-management valves. Leaders differentiate themselves with lightweight, high-temperature alloys (such as sodium-filled titanium), low-leakage sealing, and smart, LIN/CAN-enabled solenoids. Strategic moves center on modular platforms spanning ICE–HEV–BEV, additive/near-net manufacturing, localized plants to de-risk supply chains, and software calibration partnerships with OEMs. As emissions and durability demands tighten, incumbents leverage tribology, coatings (PVD/DLC), and CFD/FEA-driven design to secure multi-year awards, while EV growth shifts investment toward coolant control and battery/inverter valve blocks. Scale, quality, PPAP maturity, and global program support remain decisive advantages.

LIST OF KEY AUTOMOTIVE VALVE COMPANIES PROFILED

  • Bosch GmbH (Germany)
  • Denso Corporation (Japan)
  • Continental AG (Germany)
  • Eaton Corporation plc (Ireland / U.S. operational HQ)
  • Mahle GmbH (Germany)
  • Hitachi Astemo Ltd. (Japan)
  • BorgWarner Inc. (U.S.)
  • Valeo S.A. (France)
  • Aisin Corporation (Japan)
  • Delphi Technologies (U.K.)
  • Schrader International (U.S.)
  • Knorr-Bremse AG (Germany)
  • Tenneco Inc. (U.S.)
  • Federal-Mogul LLC (U.S.)
  • Johnson Electric Holdings Ltd. (Hong Kong, China)

KEY INDUSTRY DEVELOPMENTS

  • November 2025: Valeo was honored at the CES 2026 Innovation Awards for developing a compact 5-way refrigerant valve designed for next-generation electric-vehicle heat-pump systems. The new module integrates multiple valve functions, reducing system components while improving heat-exchange efficiency and refrigerant flow control. This breakthrough allows OEMs to simplify HVAC layouts, lowering weight and cost while boosting thermal efficiency and EV driving range. Valeo’s achievement reflects its growing leadership in smart thermal-management valves that combine precision actuation, compact packaging, and compatibility with sustainable refrigerants.
  • November 2025: Valeo and 2CRSi entered a strategic partnership to co-develop liquid-cooling solutions for edge data centers, leveraging Valeo’s automotive thermal valve technology. The collaboration extends Valeo’s expertise in refrigerant and coolant flow management beyond vehicles into high-density electronics cooling. By using the same electronically actuated valves found in EVs, these systems maintain efficiency and heat-transfer reliability under variable loads. This partnership strengthens Valeo’s thermal-engineering credentials while broadening its addressable market for precision valves and mechatronic components.
  • August 2025: Bosch showcased its latest EV thermal-management solutions at the Cenex Expo 2025, highlighting integrated valves, sensors, and pumps that optimize cooling and heating efficiency. Bosch engineers demonstrated how electronic valves coordinate multi-loop thermal circuits to precisely control battery, motor, and cabin temperatures. The company emphasized a modular valve design to improve manufacturability and performance under next-generation refrigerants, such as CO₂. The event reinforced Bosch’s commitment to sustainable mobility technologies and underscored its leadership in integrating smart valve control into overall vehicle thermal architectures.
  • July 2025: Valeo showcased its next-generation vehicle technologies at IAA MOBILITY 2025 in Munich, emphasizing integrated systems for software-defined and electrified vehicles. Among its innovations were smart, multi-way refrigerant valves and electronically controlled coolant modules designed for EV thermal loop optimization. Valeo highlighted how its valve technologies reduce part count, minimize refrigerant usage, and enhance cabin comfort efficiency. The company reiterated its commitment to energy efficiency and sustainability within the EV supply chain.
  • March 2025: AVR (Vikram) Valves Pvt. Ltd., India’s largest engine-valve manufacturer, announced exports to more than 50 countries and supply partnerships with over 220 OEMs. The company produces more than 3,500 engine-valve types serving automotive, marine, and industrial segments. AVR Valves’ expansion emphasizes precision manufacturing and localized material sourcing to meet global quality benchmarks. The announcement underscores the rising competitiveness of Indian valve manufacturers in the global supply chain for both ICE and hybrid applications.
  • February 2025: AISIN Corporation announced strategic restructuring and partnerships, including collaboration with Mitsubishi Electric Mobility, to enhance xEV powertrain and valve integration technologies. AISIN aims to expand its electrification portfolio, focusing on electronic oil-control valves, heat-pump valves, and transmission solenoid modules for hybrid systems. The new corporate structure allows faster innovation cycles and joint product development for global OEMs. This evolution positions AISIN to meet rising demand for smart, electronically actuated valve systems in electrified vehicles.
  • November 2024: AISIN Corporation unveiled a new global vision. It launched AISIN Aftermarket & Service of America, a dedicated unit that expands component supply, including cooling and valve systems, across independent aftermarket channels. The restructuring supports local sourcing and responsive logistics in North America. AISIN also revealed plans to enhance its lineup of engines, oil control, and thermal valve products for hybrid and ICE applications. This initiative positions the company to serve OEMs and aftermarket customers better as vehicle technologies evolve toward electrified systems.
  • October 2024: Valeo and TotalEnergies strengthened their long-standing partnership to co-develop next-generation EV solutions focusing on thermal management and energy-efficiency technologies. The partnership combines Valeo’s refrigerant-valve innovation with TotalEnergies’ expertise in advanced fluids for thermal transfer. Together, they aim to design integrated systems that enhance battery cooling and improve heat pump efficiency while minimizing environmental impact. The collaboration aligns with the EU’s decarbonization roadmap and underlines Valeo’s growing influence in sustainable mobility technologies.

REPORT COVERAGE

Request for Customization   to gain extensive market insights.

Report Scope & Segmentation

ATTRIBUTE

DETAILS

Study Period

2021-2034

Base Year

2025

Estimated Year

2025

Forecast Period

2026-2034

Historical Period

2021-2024

Growth Rate

CAGR of 4.4% from 2026 to 2034

Unit

Value (USD Billion)

Segmentation

By Type, By Vehicle Type, By Application, By Material, and By Region

By Type

·         Poppet Valves

·         Rotary / Butterfly Valves

·         Ball Valves

·         Needle / Spool Valves

·         Solenoid Valves

·         Others

By Vehicle Type

·         Two Wheeler

·         Passenger Cars

·         Commercial Vehicles

By Application

·         Engine Valves

·         Fuel Valves

·         Brake System

·         Transmission System

·         HVAC System

By Material

·         Steel

·         Titanium

·         Aluminum Alloys

By Region

·         North America (By Type, By Vehicle Type, By Application, By Material, and By Country)

o   U.S.  (By Vehicle Type)

o   Canada (By Vehicle Type)

o   Mexico (By Vehicle Type)

·         Europe (By Type, By Vehicle Type, By Application, By Material, and By Country)

o   Germany (By Vehicle Type)

o   U.K. (By Vehicle Type)

o   France (By Vehicle Type)

o   Rest of Europe (By Vehicle Type)

·         Asia Pacific (By Type, By Vehicle Type, By Application, By Material, and By Country)

o   China (By Vehicle Type)

o   Japan (By Vehicle Type)

o   India (By Vehicle Type)

o   South Korea (By Vehicle Type)

o   Rest of Asia Pacific (By Vehicle Type)

·         Rest of the World (By Type, By Vehicle Type, By Application, and By Material)



Frequently Asked Questions

Fortune Business Insights says that the global market value stood at USD 12.62 billion in 2025 and is projected to reach USD 18.66 billion by 2034.

In 2025, the market value in Asia Pacific stood at USD 6.63 billion.

The market is expected to expand at a CAGR of 4.4% during the forecast period of 2026-2034.

The passenger cars segment led the global market by vehicle type.

The accelerating shift toward electrified vehicles (EVs/HEVs) and the corresponding rise in demand for advanced thermal management systems are driving the market.

Top players in the market include Bosch, Denso, Continental, Eaton, Mahle, and Hitachi Astemo.

Asia Pacific dominated the market in 2025.

Seeking Comprehensive Intelligence on Different Markets?Get in Touch with Our Experts Speak to an Expert
  • 2021-2034
  • 2025
  • 2021-2024
  • 200
Download Free Sample

    man icon
    Mail icon
Growth Advisory Services
    How can we help you uncover new opportunities and scale faster?
Automotive & Transportation Clients
Bosch
Hitachi
Hyundai
KIA
Siemens
Honda
Bajaj Auto
BP
Continental AG
Exonn Mobil
Hankook Tire & Technology
iSuzu
Jindal Group
Magna
MG Motor
Nissan
Piaggio
Thyssenkrupp Components
Toyota Boshoku Corporation
Yokogawa