The global automotive thermal management system market size was US$ 39.9 billion in 2021. The global automotive thermal management system market is forecast to grow to US$ 48.1 billion by 2030, registering a compound annual growth rate (CAGR) of 3.8% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The growing number of advancements in technology and in-vehicle electronic industry is likely to propel the automotive thermal management system market forward.

The increasing necessity for effective power distribution in the system temperature and rising demand for system temperature maintenance will fuel the growth of automotive thermal management systems. Auto components providers are putting more effort into expanding their presence. As a result, the automotive thermal management system market will get benefit from it.

Stringent government norms regarding vehicle thermal management systems may limit the growth of the global market.

Leading automotive OEMs are currently working to improve the integration of waste heat recovery systems into their vehicles. Thus, it will improve fuel efficiency, which will fuel the market's growth.

The market's development is dominated by the integration of automotive battery thermal management systems with other electric thermal management systems.

COVID-19 Impact Analysis

The demand for public transportation has decreased as a result of the COVID-19 pandemic. Thus, the market for automotive thermal management systems has decreased steadily. Moreover, supply chain disruptions also occurred due to the COVID-19 pandemic, which limited the growth of the industry. However, the demand for buses, trucks and other transport vehicles is forecast to increase in the coming years. As a result, it will propel the growth of the market.

Regional Analysis

Asia-Pacific accounted for the majority of the global automotive thermal management system market share. During the projected period, Asia Pacific is expected to dominate the automotive thermal management system market due to the growing automotive segment. Furthermore, North America is expected to register growth at the highest CAGR in the global market due to the growing disposable income of the population.

Competitors in the Market

Denso Corporation
Modine Manufacturing Company
MAHLE GMbH
Valeo
Gentherm
Hanon Systems
Dupont
Renesas Electronics Corporation
Ymer Technology
NORMA Group
Borgwarner Inc.
Robert Bosch GmbH
Dana Limited
Voss Automotive GmbH
Other Prominent Players
Market Segmentation

The global automotive thermal management system market segmentation focuses on Application, Vehicle, Technology, and Region.

Automotive Thermal Management System Market, by Application Type

Engine Cooling
Front Air Conditioning
Rear Air Conditioning
Transmission System
Heated/Ventilated Seats
Heated Steering
Waste Heat Recovery
Automotive Thermal Management System Market, by Vehicle Type

Passenger Cars
Light Commercial Vehicle
Heavy Commercial Vehicle
Automotive Thermal Management System Market, by Technology

Active Transmission Warm-Up
Exhaust Gas Recirculation
Engine Thermal Mass Reduction
Reduced HVAC System Loading
Other
Automotive Thermal Management System Market, by Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America