Summary

The global Electric Vehicle Thermal Management System market was valued at US$ 23,560.9 million in 2025 and is anticipated to reach US$62,328.5 million by 2032, at a CAGR of 13.21% from 2026 to 2032.
The North American market for Electric Vehicle Thermal Management System is projected to increase from US$ 2,108.1 million in 2025 to US$ 7,534.3 million by 2032, at a CAGR of 18.77% over 2026–2032.
The Asia-Pacific market for Electric Vehicle Thermal Management System is projected to rise from US$ 17,093.9 million in 2025 to US$ 39,915.3 million by 2032, at a CAGR of 10.89% over 2026–2032.
The Europe market for Electric Vehicle Thermal Management System is projected to rise from US$ 3,839.8 million in 2025 to US$ 10,239.4 million by 2032, at a CAGR of 13.77% over 2026–2032.
In Electric Vehicle Thermal Management System market, the BEV holds an important share in terms of Application, and it is expected to reach a revenue of US$ 41,641.7 million by 2032, at a CAGR of 14.52% during 2025 and 2032.
Major global companies of Electric Vehicle Thermal Management System include Valeo, Hanon Systems, Mahle, Sanhua Holding Group, Yinlun, Aotecar New Energy Technology, DENSO, HASCO, SONGZ, Bosch, Sanden Corporation, Zhongding Group, Tuopu Group, etc. In 2025, the world’s top five vendors accounted for approximately 39.65% of revenue.
This report delivers a comprehensive overview of the global Electric Vehicle Thermal Management System market, with both quantitative and qualitative analyses, to help readers develop growth strategies, assess the competitive landscape, evaluate their position in the current market, and make informed business decisions regarding Electric Vehicle Thermal Management System. The Electric Vehicle Thermal Management System market size, estimates, and forecasts are provided in terms of revenue (US$ millions), with 2025 as the base year and historical and forecast data for 2021–2032.
The report segments the global Electric Vehicle Thermal Management System market comprehensively. Regional market sizes by Type, by Application, and by player are also provided. For deeper insight, the report profiles the competitive landscape, key competitors, and their respective market rankings, and discusses technological trends and new product developments.
This report will assist Electric Vehicle Thermal Management System manufacturers, new entrants, and companies across the industry value chain with information on revenues, sales volume, and average prices for the overall market and its sub-segments, by company, by Type, by Application, and by region.
Market Segmentation
By Company
 Valeo
 Hanon Systems
 Mahle
 Sanhua Holding Group
 Yinlun
 Aotecar New Energy Technology
 DENSO
 HASCO
 SONGZ
 Bosch
 Sanden Corporation
 Zhongding Group
 Tuopu Group

Segment by Type
 Power System
 Air Conditioning System


Segment by Application
 BEV
 PHEV

Segment by Region
 North America
 U.S.
 Canada

 Asia-Pacific
 China
 Japan
 South Korea
 India

 Europe
 Germany
 France
 U.K.
 Italy
 Spain
 Rest of Europe

 Latin America
 Mexico
 Brazil

 Middle East & Africa
 Middle East
 Africa

Chapter Outline
Chapter 1: Defines the scope of the report and presents an executive summary of market segments (by Type, by Application, etc.), including the size of each segment and its future growth potential. It offers a high-level view of the current market and its likely evolution in the short, medium, and long term.
Chapter 2: Summarizes global and regional market size and outlines market dynamics and recent developments, including key drivers, restraints, challenges and risks for industry participants, and relevant policy analysis.
Chapter 3: Provides a detailed view of the competitive landscape for Electric Vehicle Thermal Management System companies, covering revenue share, development plans, and mergers and acquisitions.
Chapter 4: Analyzes segments by Type, detailing the size and growth potential of each segment to help readers identify blue-ocean opportunities.
Chapter 5: Analyzes segments by Application, detailing the size and growth potential of each downstream segment to help readers identify blue-ocean opportunities.
Chapter 6–10: Regional deep dives (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) broken down by country. Each chapter quantifies market size and growth potential by region and key countries, and outlines market development, outlook, addressable space, and capacity.
Chapter 11: Profiles key players, presenting essential information on leading companies, including product/ service offerings, revenue, gross margin, product introductions/portfolios, recent developments, etc.
Chapter 12: Key findings and conclusions of the report.

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Table of Contents

1 Report Overview 1
1.1 Study Scope 1
1.2 Market Analysis by Type 1
1.2.1 Global Electric Vehicle Thermal Management System Market Size Growth Rate by Type: 2021 vs 2025 vs 2032 1
1.2.2 Power System 3
1.2.3 Air Conditioning System 3
1.3 Market by Application 4
1.3.1 Global Electric Vehicle Thermal Management System Market Growth by Application: 2021 vs 2025 vs 2032 4
1.3.2 BEV 6
1.3.3 PHEV 6
1.4 Assumptions and Limitations 7
1.5 Study Objectives 8
1.6 Years Considered 9
2 Global Growth Trends 10
2.1 Global Electric Vehicle Thermal Management System Market Perspective (2021–2032) 10
2.2 Global Electric Vehicle Thermal Management System Growth Trends by Region 11
2.2.1 Global Electric Vehicle Thermal Management System Market Size by Region: 2021 vs 2025 vs 2032 12
2.2.2 Electric Vehicle Thermal Management System Historic Market Size by Region (2021–2026) 13
2.2.3 Electric Vehicle Thermal Management System Forecasted Market Size by Region (2027–2032) 13
2.3 Electric Vehicle Thermal Management System Market Dynamics 14
2.3.1 Electric Vehicle Thermal Management System Industry Trends 14
2.3.2 Electric Vehicle Thermal Management System Market Drivers 15
2.3.3 Electric Vehicle Thermal Management System Market Challenges 16
2.3.4 Electric Vehicle Thermal Management System Market Restraints 16
3 Competition Landscape by Key Players 18
3.1 Global Top Electric Vehicle Thermal Management System Players by Revenue 18
3.1.1 Global Top Electric Vehicle Thermal Management System Players by Revenue (2021–2026) 18
3.1.2 Global Electric Vehicle Thermal Management System Revenue Market Share by Players (2021–2026) 19
3.2 Global Top Electric Vehicle Thermal Management System Players Market Share by Company Tier (Tier 1, Tier 2, Tier 3) 20
3.3 Global Key Players Ranking by Electric Vehicle Thermal Management System Revenue 21
3.4 Global Electric Vehicle Thermal Management System Market Concentration Ratio 22
3.4.1 Global Electric Vehicle Thermal Management System Market Concentration Ratio (CR5 and HHI) 22
3.4.2 Global Top 3 and Top 5 Companies by Electric Vehicle Thermal Management System Revenue in 2025 24
3.5 Global Key Players of Electric Vehicle Thermal Management System Head Offices and Established Date 25
3.6 Mergers and Acquisitions, Expansion Plans 25
4 Electric Vehicle Thermal Management System Breakdown Data by Type 27
4.1 Global Electric Vehicle Thermal Management System Historic Market Size by Type (2021–2026) 27
4.2 Global Electric Vehicle Thermal Management System Forecasted Market Size by Type (2027–2032) 28
5 Electric Vehicle Thermal Management System Breakdown Data by Application 29
5.1 Global Electric Vehicle Thermal Management System Historic Market Size by Application (2021–2026) 29
5.2 Global Electric Vehicle Thermal Management System Forecasted Market Size by Application (2027–2032) 30
6 North America 31
6.1 North America Electric Vehicle Thermal Management System Market Size (2021–2032) 31
6.2 North America Electric Vehicle Thermal Management System Market Growth Rate by Country: 2021 vs 2025 vs 2032 31
6.3 North America Electric Vehicle Thermal Management System Market Size by Country (2021–2026) 32
6.4 North America Electric Vehicle Thermal Management System Market Size by Country (2027–2032) 32
6.5 United States 33
6.6 Canada 34
7 Europe 35
7.1 Europe Electric Vehicle Thermal Management System Market Size (2021–2032) 35
7.2 Europe Electric Vehicle Thermal Management System Market Growth Rate by Country: 2021 vs 2025 vs 2032 35
7.3 Europe Electric Vehicle Thermal Management System Market Size by Country (2021–2026) 36
7.4 Europe Electric Vehicle Thermal Management System Market Size by Country (2027–2032) 36
7.5 Germany 37
7.6 France 38
7.7 U.K. 38
7.8 Italy 39
7.9 Spain 39
8 Asia-Pacific 40
8.1 Asia-Pacific Electric Vehicle Thermal Management System Market Size (2021–2032) 40
8.2 Asia-Pacific Electric Vehicle Thermal Management System Market Growth Rate by Region: 2021 vs 2025 vs 2032 40
8.3 Asia-Pacific Electric Vehicle Thermal Management System Market Size by Region (2021–2026) 41
8.4 Asia-Pacific Electric Vehicle Thermal Management System Market Size by Region (2027–2032) 41
8.5 China 42
8.6 Japan 43
8.7 South Korea 43
8.8 India 44
9 Latin America 45
9.1 Latin America Electric Vehicle Thermal Management System Market Size (2021–2032) 45
9.2 Latin America Electric Vehicle Thermal Management System Market Growth Rate by Country: 2021 vs 2025 vs 2032 45
9.3 Latin America Electric Vehicle Thermal Management System Market Size by Country (2021–2026) 46
9.4 Latin America Electric Vehicle Thermal Management System Market Size by Country (2027–2032) 46
9.5 Mexico 47
9.6 Brazil 48
10 Middle East & Africa 49
10.1 Middle East & Africa Electric Vehicle Thermal Management System Market Size (2021–2032) 49
10.2 Middle East & Africa Electric Vehicle Thermal Management System Market Growth Rate by Country: 2021 vs 2025 vs 2032 49
10.3 Middle East & Africa Electric Vehicle Thermal Management System Market Size by Country (2021–2026) 50
10.4 Middle East & Africa Electric Vehicle Thermal Management System Market Size by Country (2027–2032) 50
10.5 Middle East 51
10.6 Africa 52
11 Key Players Profiles 53
11.1 Valeo 53
11.1.1 Valeo Company Details 53
11.1.2 Valeo Business Overview 53
11.1.3 Valeo Electric Vehicle Thermal Management System Introduction 54
11.1.4 Valeo Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 56
11.1.5 Valeo Recent Development 56
11.2 Hanon Systems 56
11.2.1 Hanon Systems Company Details 57
11.2.2 Hanon Systems Business Overview 57
11.2.3 Hanon Systems Electric Vehicle Thermal Management System Introduction 57
11.2.4 Hanon Systems Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 59
11.2.5 Hanon Systems Recent Development 59
11.3 Mahle 60
11.3.1 Mahle Company Details 60
11.3.2 Mahle Business Overview 60
11.3.3 Mahle Electric Vehicle Thermal Management System Introduction 61
11.3.4 Mahle Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 62
11.3.5 Mahle Recent Development 62
11.4 Sanhua Holding Group 62
11.4.1 Sanhua Holding Group Company Details 63
11.4.2 Sanhua Holding Group Business Overview 63
11.4.3 Sanhua Holding Group Electric Vehicle Thermal Management System Introduction 64
11.4.4 Sanhua Holding Group Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 65
11.5 Yinlun 65
11.5.1 Yinlun Company Details 65
11.5.2 Yinlun Business Overview 66
11.5.3 Yinlun Electric Vehicle Thermal Management System Introduction 66
11.5.4 Yinlun Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 67
11.6 Aotecar New Energy Technology 67
11.6.1 Aotecar New Energy Technology Company Details 67
11.6.2 Aotecar New Energy Technology Business Overview 68
11.6.3 Aotecar New Energy Technology Electric Vehicle Thermal Management System Introduction 68
11.6.4 Aotecar New Energy Technology Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 69
11.7 DENSO 69
11.7.1 DENSO Company Details 69
11.7.2 DENSO Business Overview 70
11.7.3 DENSO Electric Vehicle Thermal Management System Introduction 70
11.7.4 DENSO Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 71
11.8 HASCO 72
11.8.1 HASCO Company Details 72
11.8.2 HASCO Business Overview 72
11.8.3 HASCO Electric Vehicle Thermal Management System Introduction 73
11.8.4 HASCO Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 73
11.9 SONGZ 74
11.9.1 SONGZ Company Details 74
11.9.2 SONGZ Business Overview 74
11.9.3 SONGZ Electric Vehicle Thermal Management System Introduction 75
11.9.4 SONGZ Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 75
11.10 Bosch 75
11.10.1 Bosch Company Details 76
11.10.2 Bosch Business Overview 76
11.10.3 Bosch Electric Vehicle Thermal Management System Introduction 77
11.10.4 Bosch Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 77
11.11 Sanden Holdings Corporation 77
11.11.1 Sanden Holdings Corporation Company Details 78
11.11.2 Sanden Holdings Corporation Business Overview 78
11.11.3 Sanden Holdings Corporation Electric Vehicle Thermal Management System Introduction 78
11.11.4 Sanden Holdings Corporation Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 79
11.12 Zhongding Group 80
11.12.1 Zhongding Group Company Details 80
11.12.2 Zhongding Group Business Overview 80
11.12.3 Zhongding Group Electric Vehicle Thermal Management System Introduction 81
11.12.4 Zhongding Group Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 81
11.13 Tuopu Group 82
11.13.1 Tuopu Group Company Details 82
11.13.2 Tuopu Group Business Overview 82
11.13.3 Tuopu Group Electric Vehicle Thermal Management System Introduction 83
11.13.4 Tuopu Group Revenue in Electric Vehicle Thermal Management System Business (2021–2026) 84
12 Analyst's Viewpoints/Conclusions 85
13 Appendix 87
13.1 Research Methodology 87
13.1.1 Methodology/Research Approach 87
13.1.2 Data Source 90
13.2 Author Details 93
13.3 Disclaimer 93