Leander, Texas and TOKYO, Japan – The United States Electric Vehicle Thermal Management Systems Market is valued at approximately USD 3.3 billion in 2025 and is projected to reach about USD 16.6 billion by 2035, growing at a CAGR of around 21.4% during the forecast period from 2025 to 2035.
This robust growth is driven by the increasing adoption of electric vehicles (EVs), advancements in thermal management technologies such as liquid cooling, phase-change materials, and AI-based heat management, and the need for effective cooling solutions to enhance battery life and vehicle safety. Government initiatives including the Inflation Reduction Act and stricter vehicle efficiency standards are accelerating demand for innovative thermal solutions.
Get a Free Sample PDF Of This Report (Get Higher Priority for Corporate Email ID):- https://www.datamintelligence.com/download-sample/electric-vehicle-thermal-management-systems-market?ram
United States: Key Industry Developments
✅ August 2024: Hanon Systems launched the world’s first 4th generation heat pump systems for EVs, which harvest waste heat from air, motor, and battery to increase energy efficiency, driving range, and allow faster charging while reducing HVAC bus size by 30%, boosting passenger space.
✅ March 2024: Ford Motor Company launched a new extended-range EV model offering a battery range of up to 374 miles (600 km), enhancing the electric vehicle thermal management by supporting longer driving distances per charge with efficient battery thermal regulation.
Asia Pacific / Japan: Key Industry Developments
✅ July 2023: Marelli introduced the integrated Thermal Management Module (iTMM) for electric vehicles, combining multiple thermal circuits into one efficient system that improves energy management across the e-powertrain, battery, and cabin, enhancing vehicle efficiency and safety.
✅ August 2024: Hanon Systems’ launch of its advanced heat pump system greatly enhances EV thermal management in the Asia-Pacific region, optimizing energy use and vehicle range, with potential benefits for Japan’s EV market given the system’s modular and compact design.
Mergers and Acquisitions (2025):
✅ Schneider Electric – acquired a 75% controlling interest in Motivair for $1.1 billion in October 2025. Motivair specializes in advanced liquid cooling technologies vital for high-performance computing and data center applications, which are complementary to thermal management technologies in electric vehicles.
✅ AirX Climate Solutions (ACS) – acquired Powrmatic, a specialty HVAC manufacturer of commercial and industrial heating and cooling systems, in December 2024. Powrmatic’s heat exchanger technologies align with electric vehicle thermal management requirements.
✅ Musashi Seimitsu Industry (Japanese firm) – formed a strategic collaboration with Indian battery technology company Log9 Materials in October 2024 to develop integrated powertrain and battery thermal management solutions for electric two- and three-wheelers, reflecting a cross-border partnership focused on EV thermal management innovation.
Growth Drivers:
-The rapid global surge in electric vehicle adoption driven by environmental concerns and government incentives.
-Stricter emissions regulations and climate change mitigation policies promoting electric vehicle use.
-The need for efficient thermal management to enhance battery performance, safety, and longevity, especially with advanced battery technologies like lithium-ion and solid-state batteries.
-Increasing demand for fast charging technology and long driving ranges requiring advanced battery cooling solutions.
-Growth in commercial electric vehicle fleets (buses, trucks) increasing demand for tailored thermal management systems.
-Regional growth in Asia-Pacific, led by China, Japan, and South Korea, due to strong EV production, government support, and infrastructure development.
Purchase this report before year-end and unlock an exclusive 30% discount: https://www.datamintelligence.com/buy-now-page?report=electric-vehicle-thermal-management-systems-market?ram (Purchase 2 or more Reports and get 50% Discount)
Market Segmentation Analysis:
-By System
Heating, Ventilation, and Air Conditioning (HVAC): Provides cabin and component temperature regulation.
Powertrain Cooling: Manages temperature of motors and power electronics.
Fluid Transport: Circulates cooling/heating fluids within the system.
Others: Includes waste heat recovery, thermal energy storage, and auxiliary heating systems.
-By Components
Battery: Largest thermal management focus due to impact on performance, safety, and life cycle.
Power Generation: Thermal control for electric motors and generators.
Cabin: HVAC systems regulating passenger comfort.
Motor: Cooling to maintain motor efficiency and durability.
-By Technology
Active: Uses mechanical devices like pumps and compressors for forced cooling or heating.
Passive: Relies on conduction, phase change materials, or natural convection without moving parts.
-By Propulsion
Battery Electric Vehicle (BEV): Majority share, requiring advanced cooling for large capacity batteries.
Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV): Moderate share with combined thermal needs for internal combustion and electric components.
Fuel Cell Electric Vehicle (FCEV): Smaller but growing segment with specific cooling needs.
-By Battery Capacity
Below 30 kWh
30 – 60 kWh
60 – 100 kWh
Above 100 kWh
Larger battery capacities drive demand for robust thermal management systems.
-By Battery Type
Conventional: Current lithium-ion and related battery chemistries.
Solid-State: Emerging technology with specific cooling requirements, driving future market growth.
-By Vehicle Type
Passenger Vehicles: Largest usage segment reflecting mainstream EV adoption.
Commercial Vehicles: Growing rapidly with electrification of logistics and public transport.
Regional Insights:
North America: North America holds a significant portion of the market, accounting for about 25% of the global share. This leadership is driven by early adoption of electric vehicles, strong regulatory support, technological innovation in thermal management solutions, and a developed automotive manufacturing base primarily led by the United States and Canada. The region benefits from government incentives, advanced battery technology development, and expanding EV infrastructure, all contributing to robust demand.
Asia-Pacific: The Asia-Pacific region is the dominant and fastest-growing market, commanding over 40% of the global revenue share in 2024, expected to expand rapidly due to large-scale manufacturing and sales of electric vehicles in China, Japan, and India. China alone accounts for more than half of global EV sales, supported by strong government policies, investments in advanced thermal management technologies, and a sizable domestic supply chain. The region’s growth is fueled by massive EV production, government incentives, and increasing adoption in both passenger and commercial segments.
Speak to Our Analyst and Get Customization in the report as per your requirements: https://www.datamintelligence.com/customize/electric-vehicle-thermal-management-systems-market?ram
Key Players:
BorgWarner Inc. | Mahle GmbH | Valeo SA | Hanon Systems | Denso Corporation | Gentherm Incorporated | LG Electronics Inc. | Continental AG | Dana Incorporated | Modine Manufacturing Company
Key Highlights (Top 5 Key Players) for Electric Vehicle Thermal Management Systems Market:
-BorgWarner Inc. is recognized for its advanced thermal management systems, with significant business expansion in high voltage coolant heaters for mid-size electric vehicle platforms.
-Denso Corporation is a leader in thermal systems for electric vehicles, contributing majorly to the market with innovative battery and thermal management solutions.
-Mahle GmbH focuses on intelligent thermal management systems and has expanded through acquisitions, enhancing its R&D-driven product portfolio.
-Valeo SA provides an extensive portfolio of thermal climate control and powertrain systems, maintaining technological expertise and strong innovation in the market.
-Hanon Systems specializes in EV thermal management solutions and holds a prominent position in the global market.
Unlock 360° Market Intelligence with DataM Subscription Services: https://www.datamintelligence.com/reports-subscription?ram
Power your decisions with real-time competitor tracking, strategic forecasts, and global investment insights all in one place.
✅ Competitive Landscape
✅ Sustainability Impact Analysis
✅ KOL / Stakeholder Insights
✅ Unmet Needs & Positioning, Pricing & Market Access Snapshots
✅ Market Volatility & Emerging Risks Analysis
✅ Quarterly Industry Report Updated
✅ Live Market & Pricing Trends
✅ Import-Export Data Monitoring
Have a look at our Subscription Dashboard: https://www.youtube.com/watch?v=x5oEiqEqTWg
Contact Us –
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us –
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
This release was published on openPR.
