United States New Energy Vehicle Thermal Management System Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 2.2 Billion by 2030, growing at a CAGR of 11.8% from 2024 to 2030.
The US New Energy Vehicle (NEV) Thermal Management System market is seeing significant growth as the demand for energy-efficient vehicles increases. With a surge in environmental awareness and government regulations, industries are pushing for solutions that not only reduce emissions but also optimize vehicle performance. As part of this effort, the importance of thermal management systems, which control and regulate the temperature within NEVs, has become more critical than ever.
The thermal management system is essential in maintaining optimal operating temperatures for various components such as batteries, electric motors, and power electronics. These systems prevent overheating, enhance the longevity of key vehicle parts, and ensure that the vehicle operates efficiently under varying environmental conditions. The US market is expected to grow rapidly as automakers look for innovative ways to increase the range and performance of NEVs while maintaining energy efficiency.
The increasing demand for electric vehicles (EVs) is driving the requirement for advanced thermal management solutions. Industries like automotive manufacturing, battery production, and the semiconductor sector require highly effective and reliable thermal management to support their products. In particular, the automotive industry is focusing on improving battery cooling systems, as these are essential for maximizing the performance and lifespan of EV batteries. As NEVs become more mainstream, the need for cutting-edge technology to manage thermal issues will only intensify.
Furthermore, industries require these thermal systems to be lightweight, cost-effective, and scalable. Companies are investing in advanced materials like phase change materials (PCMs) and liquid cooling technologies, which can absorb and release heat efficiently. This trend is anticipated to gain momentum, with the market seeing advancements such as artificial intelligence (AI) integration in thermal management for predictive cooling and better energy control.
As NEVs continue to evolve, the thermal management systems used in these vehicles will be a key factor in meeting both industry and consumer expectations. With advancements in thermal technology, the demand for new, innovative solutions will continue to rise, helping to shape the future of electric mobility.
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Sanhua Holding Group
DENSO
Sanden Holdings Corporation
Yinlun
Aotecar New Energy Technology
HASCO
Hanon Systems
SONGZ
Zhongding Group
Mahle
TENGLONG
Valeo
Feilong Auto Components
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US New Energy Vehicle Thermal Management System Market
Battery Electric Vehicles (BEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Fuel Cell Electric Vehicles (FCEVs)
Hybrid Electric Vehicles (HEVs)
Thermal Control Units
Heat Exchangers
Coolant Pumps
Battery Thermal Management Systems
Chillers and Heaters
Active Thermal Management
Passive Thermal Management
Phase Change Material (PCM) Technology
Heat Pump Technology
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Heavy-Duty Vehicles
OEMs (Original Equipment Manufacturers)
Aftermarket
Direct Sales
Distributors and Dealers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US New Energy Vehicle Thermal Management System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US New Energy Vehicle Thermal Management System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US New Energy Vehicle Thermal Management System Market, By Type
6. US New Energy Vehicle Thermal Management System Market, By Application
7. US New Energy Vehicle Thermal Management System Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US New Energy Vehicle Thermal Management System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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