

An electric vehicle thermal system is a series of devices and components used to manage and control the heat of an electric vehicle. It includes components such as cooling systems, heating systems, temperature sensors, fans, radiators, heaters and associated pipework and pumps. The primary role of the EV thermal system is to maintain the critical components of the EV (e.g., batteries, electric motors, etc.) within a suitable operating temperature range to ensure vehicle performance, safety, and longevity. Cooling systems are used to remove heat when components such as batteries and electric motors overheat, while heating systems keep the vehicle's interior warm at low temperatures. The design and management of EV thermal systems is critical to the performance and reliability of EVs.
The global EV Thermal System market size is projected to grow from US$ million in 2024 to US$ million in 2030; it is expected to grow at a CAGR of %from 2024 to 2030.
LP Information, Inc. (LPI) ' newest research report, the “EV Thermal System Industry Forecast” looks at past sales and reviews total world EV Thermal System sales in 2023, providing a comprehensive analysis by region and market sector of projected EV Thermal System sales for 2024 through 2030. With EV Thermal System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world EV Thermal System industry.
This Insight Report provides a comprehensive analysis of the global EV Thermal System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on EV Thermal System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global EV Thermal System market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for EV Thermal System and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global EV Thermal System.
New energy vehicles are one of the key drivers of the sector. Global electric vehicles continue to grow rapidly, with total global sales of new energy vehicles exceeding 10 million units in 2022, a synchronised growth of 61%. China and Europe have been the main drivers of the strong growth in global electric vehicle sales. in 2022, China's new energy vehicle production and sales reached 7,058,000 and 6,887,000 respectively, up 96.9% and 93.4% year-on-year, and the production and sales of new energy vehicles have been ranked No. 1 globally for eight years in a row. Among them, the sales of pure electric vehicles were 5.365 million units, up 81.6 per cent year-on-year.In 2022, the sales of pure electric vehicles in Europe rose 29 per cent year-on-year to 1.58 million units.
This report presents a comprehensive overview, market shares, and growth opportunities of EV Thermal System market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Heating Ventilation and Air Conditioning
Power Train Cooling
Fluid Transport
Others
Segmentation by Application:
Battery Electric Vehicle
Hybrid Electric Vehicle
Plug-in Hybrid Electric Vehicle
Fuel Cell Electric Vehicle
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
BorgWarner
Dana Limited
Hanon Systems
Valeo SA
Denso Corporation
Bosch
Mahle GmbH
VOSS Automotive
Modine Manufacturing
Gentherm
CapTherm Systems
LG Chem
Visteon Corporation
Key Questions Addressed in this Report
What is the 10-year outlook for the global EV Thermal System market?
What factors are driving EV Thermal System market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do EV Thermal System market opportunities vary by end market size?
How does EV Thermal System break out by Type, by Application?
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global EV Thermal System Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for EV Thermal System by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for EV Thermal System by Country/Region, 2019, 2023 & 2030
2.2 EV Thermal System Segment by Type
2.2.1 Heating Ventilation and Air Conditioning
2.2.2 Power Train Cooling
2.2.3 Fluid Transport
2.2.4 Others
2.3 EV Thermal System Sales by Type
2.3.1 Global EV Thermal System Sales Market Share by Type (2019-2024)
2.3.2 Global EV Thermal System Revenue and Market Share by Type (2019-2024)
2.3.3 Global EV Thermal System Sale Price by Type (2019-2024)
2.4 EV Thermal System Segment by Application
2.4.1 Battery Electric Vehicle
2.4.2 Hybrid Electric Vehicle
2.4.3 Plug-in Hybrid Electric Vehicle
2.4.4 Fuel Cell Electric Vehicle
2.5 EV Thermal System Sales by Application
2.5.1 Global EV Thermal System Sale Market Share by Application (2019-2024)
2.5.2 Global EV Thermal System Revenue and Market Share by Application (2019-2024)
2.5.3 Global EV Thermal System Sale Price by Application (2019-2024)
3 Global by Company
3.1 Global EV Thermal System Breakdown Data by Company
3.1.1 Global EV Thermal System Annual Sales by Company (2019-2024)
3.1.2 Global EV Thermal System Sales Market Share by Company (2019-2024)
3.2 Global EV Thermal System Annual Revenue by Company (2019-2024)
3.2.1 Global EV Thermal System Revenue by Company (2019-2024)
3.2.2 Global EV Thermal System Revenue Market Share by Company (2019-2024)
3.3 Global EV Thermal System Sale Price by Company
3.4 Key Manufacturers EV Thermal System Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers EV Thermal System Product Location Distribution
3.4.2 Players EV Thermal System Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Market M&A Activity & Strategy
4 World Historic Review for EV Thermal System by Geographic Region
4.1 World Historic EV Thermal System Market Size by Geographic Region (2019-2024)
4.1.1 Global EV Thermal System Annual Sales by Geographic Region (2019-2024)
4.1.2 Global EV Thermal System Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic EV Thermal System Market Size by Country/Region (2019-2024)
4.2.1 Global EV Thermal System Annual Sales by Country/Region (2019-2024)
4.2.2 Global EV Thermal System Annual Revenue by Country/Region (2019-2024)
4.3 Americas EV Thermal System Sales Growth
4.4 APAC EV Thermal System Sales Growth
4.5 Europe EV Thermal System Sales Growth
4.6 Middle East & Africa EV Thermal System Sales Growth
5 Americas
5.1 Americas EV Thermal System Sales by Country
5.1.1 Americas EV Thermal System Sales by Country (2019-2024)
5.1.2 Americas EV Thermal System Revenue by Country (2019-2024)
5.2 Americas EV Thermal System Sales by Type (2019-2024)
5.3 Americas EV Thermal System Sales by Application (2019-2024)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC EV Thermal System Sales by Region
6.1.1 APAC EV Thermal System Sales by Region (2019-2024)
6.1.2 APAC EV Thermal System Revenue by Region (2019-2024)
6.2 APAC EV Thermal System Sales by Type (2019-2024)
6.3 APAC EV Thermal System Sales by Application (2019-2024)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe EV Thermal System by Country
7.1.1 Europe EV Thermal System Sales by Country (2019-2024)
7.1.2 Europe EV Thermal System Revenue by Country (2019-2024)
7.2 Europe EV Thermal System Sales by Type (2019-2024)
7.3 Europe EV Thermal System Sales by Application (2019-2024)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa EV Thermal System by Country
8.1.1 Middle East & Africa EV Thermal System Sales by Country (2019-2024)
8.1.2 Middle East & Africa EV Thermal System Revenue by Country (2019-2024)
8.2 Middle East & Africa EV Thermal System Sales by Type (2019-2024)
8.3 Middle East & Africa EV Thermal System Sales by Application (2019-2024)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of EV Thermal System
10.3 Manufacturing Process Analysis of EV Thermal System
10.4 Industry Chain Structure of EV Thermal System
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 EV Thermal System Distributors
11.3 EV Thermal System Customer
12 World Forecast Review for EV Thermal System by Geographic Region
12.1 Global EV Thermal System Market Size Forecast by Region
12.1.1 Global EV Thermal System Forecast by Region (2025-2030)
12.1.2 Global EV Thermal System Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country (2025-2030)
12.3 APAC Forecast by Region (2025-2030)
12.4 Europe Forecast by Country (2025-2030)
12.5 Middle East & Africa Forecast by Country (2025-2030)
12.6 Global EV Thermal System Forecast by Type (2025-2030)
12.7 Global EV Thermal System Forecast by Application (2025-2030)
13 Key Players Analysis
13.1 BorgWarner
13.1.1 BorgWarner Company Information
13.1.2 BorgWarner EV Thermal System Product Portfolios and Specifications
13.1.3 BorgWarner EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.1.4 BorgWarner Main Business Overview
13.1.5 BorgWarner Latest Developments
13.2 Dana Limited
13.2.1 Dana Limited Company Information
13.2.2 Dana Limited EV Thermal System Product Portfolios and Specifications
13.2.3 Dana Limited EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.2.4 Dana Limited Main Business Overview
13.2.5 Dana Limited Latest Developments
13.3 Hanon Systems
13.3.1 Hanon Systems Company Information
13.3.2 Hanon Systems EV Thermal System Product Portfolios and Specifications
13.3.3 Hanon Systems EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.3.4 Hanon Systems Main Business Overview
13.3.5 Hanon Systems Latest Developments
13.4 Valeo SA
13.4.1 Valeo SA Company Information
13.4.2 Valeo SA EV Thermal System Product Portfolios and Specifications
13.4.3 Valeo SA EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.4.4 Valeo SA Main Business Overview
13.4.5 Valeo SA Latest Developments
13.5 Denso Corporation
13.5.1 Denso Corporation Company Information
13.5.2 Denso Corporation EV Thermal System Product Portfolios and Specifications
13.5.3 Denso Corporation EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.5.4 Denso Corporation Main Business Overview
13.5.5 Denso Corporation Latest Developments
13.6 Bosch
13.6.1 Bosch Company Information
13.6.2 Bosch EV Thermal System Product Portfolios and Specifications
13.6.3 Bosch EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.6.4 Bosch Main Business Overview
13.6.5 Bosch Latest Developments
13.7 Mahle GmbH
13.7.1 Mahle GmbH Company Information
13.7.2 Mahle GmbH EV Thermal System Product Portfolios and Specifications
13.7.3 Mahle GmbH EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.7.4 Mahle GmbH Main Business Overview
13.7.5 Mahle GmbH Latest Developments
13.8 VOSS Automotive
13.8.1 VOSS Automotive Company Information
13.8.2 VOSS Automotive EV Thermal System Product Portfolios and Specifications
13.8.3 VOSS Automotive EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.8.4 VOSS Automotive Main Business Overview
13.8.5 VOSS Automotive Latest Developments
13.9 Modine Manufacturing
13.9.1 Modine Manufacturing Company Information
13.9.2 Modine Manufacturing EV Thermal System Product Portfolios and Specifications
13.9.3 Modine Manufacturing EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.9.4 Modine Manufacturing Main Business Overview
13.9.5 Modine Manufacturing Latest Developments
13.10 Gentherm
13.10.1 Gentherm Company Information
13.10.2 Gentherm EV Thermal System Product Portfolios and Specifications
13.10.3 Gentherm EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.10.4 Gentherm Main Business Overview
13.10.5 Gentherm Latest Developments
13.11 CapTherm Systems
13.11.1 CapTherm Systems Company Information
13.11.2 CapTherm Systems EV Thermal System Product Portfolios and Specifications
13.11.3 CapTherm Systems EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.11.4 CapTherm Systems Main Business Overview
13.11.5 CapTherm Systems Latest Developments
13.12 LG Chem
13.12.1 LG Chem Company Information
13.12.2 LG Chem EV Thermal System Product Portfolios and Specifications
13.12.3 LG Chem EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.12.4 LG Chem Main Business Overview
13.12.5 LG Chem Latest Developments
13.13 Visteon Corporation
13.13.1 Visteon Corporation Company Information
13.13.2 Visteon Corporation EV Thermal System Product Portfolios and Specifications
13.13.3 Visteon Corporation EV Thermal System Sales, Revenue, Price and Gross Margin (2019-2024)
13.13.4 Visteon Corporation Main Business Overview
13.13.5 Visteon Corporation Latest Developments
14 Research Findings and Conclusion
*If Applicable.