Automotive Thermostat Market Size to Capture $5.01 Bn by 2034

Automotive Thermostat Market Trends, Share and Innovations 2034

The global automotive thermostat market, valued at USD 3.37 billion in 2024, is anticipated to reach USD 5.01 billion by 2034, growing at a CAGR of 4.04% over the next decade. North America leads the automotive thermostat market, driven by major automakers in the U.S. and Canada. Asia Pacific is set for the fastest growth, fueled by rising commercial vehicle sales in China and India. The electronic segment dominates for its precision and reliability, while passenger cars lead due to the demand for compact SUVs.

Last Updated: 17 February 2025 Category: Automotive Components Insight Code: 1538 Format: PDF / PPT / Excel

Senior Research Analyst

Dr. Arjun Patel

Reviewed By

Aditi Shivarkar

Automotive Thermostat Market Growth and Future Analysis

The automotive thermostat market size is anticipated to grow from USD 3.51 billion in 2025 to USD 5.01 billion by 2034, with a compound annual growth rate (CAGR) of 4.04% during the forecast period from 2025 to 2034.

Automotive Thermostat Market Size 2023 - 2034

Introduction

The automotive thermostat market is an integral branch of the automotive industry. This industry deals in production and distribution of temperature regulators for automotives. There are numerous types of thermostats available in the market consisting of electronic thermostats, mechanical thermostats and programmable thermostats. These thermostats comprise of various components including single valves and dual valves. The growing sales of passenger cars in different parts of the world has boosted the industrial expansion. This market is projected to rise significantly with the growth of the automotive components sector around the globe.

India Passenger Vehicles Sales (2018-24)

  • According to the Indian Society of Automobile Manufacturers, around 3377389 passenger cars were sold in 2018-19 that increased to 4218746 in 2023-24.

Highlights of the Automotive Thermostat Market

  • North America held the dominant share of the automotive thermostat market due to the presence of numerous automotive companies in U.S. and Canada.
  • Asia Pacific is expected to grow with the highest CAGR due to the rising sales of commercial vehicles in China and India.
  • The electronic segment dominated the market due to its numerous benefits such as precise temperature control, compatibility, reliability and some others.
  • The passenger cars segment led the market due to the growing demand for compact SUVs in developed nations.
  • The rise in the number of automotive brands has increased the application of thermostats in vehicles for maintaining the temperature in vehicles. Thus, several automotive brands are constantly investing in research and development for manufacturing advanced thermostats for automotives.
  • The demand for housing-integrated thermostats has gained popularity due to its compact designing and integrated functionality. These thermostats helps in lowering the number of parts in automotives along with enhancing reliability and reducing production cost of vehicles.
  • The automotive manufacturers have started using bellows-style thermostats and electronically controlled thermostats in vehicles to increase longevity of automotive engines.
  • The rapid investment in the automotive components industry by government of several countries such as China, Japan, U.S. and some others.

Industry Leader Announcement

In May 2024, Jumana Al-Sibai, the member of the Mahle Management Board announced that, “In ADMETOS, we have found an owner that offers both the company and its employees a stable, promising outlook. I would like to thank all employees in the thermostat product area.”

Competitive Landscape

Automotive Thermostat Market Companies

The automotive thermostat market is a consolidated industry with the presence of numerous dominant players. Some of the important players in this industry comprises of Mahle GmbH, Vernet SAS, Stant Corporation, TAMA A.S., BorgWarner Inc., Gates Corporation, Nippon Thermostat Co., Ltd., Aisin Seiki Co., Ltd and some others. These market players are investing heavily for manufacturing superior quality thermostats for automotives and adopting numerous strategies such as product launches, partnerships, investment and some others to maintain their dominant position in this industry.

Mahle Thermal Management Segment Revenue in Million Euros (2022-23)

  • According to the annual report of Mahle, the revenue of thermal management segment in 2022 was 4477 million euros that increased to 4591 million euros in 2023.

Market Segmentation

By Type

  • Electronic
  • Mechanical
  • Programmable

By Component Type

  • Single Valve
  • Dual Valve

By Vehicle Type

  • Passengers Cars
  • Commercial Vehicle

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
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About The Author

Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.

FAQ's

The automotive thermostat market was valued at US$ 3.51 billion in 2025.

North America dominated this industry.

The growing demand for commercial vehicles along with technological advancements in automotive sector has boosted the market growth.

Some of the prominent players of this industry consists of Stant Corporation, TAMA A.S., Nippon Thermostat Co., Mahle GmbH, BorgWarner Inc., Gates Corporation, Vernet SAS, and some others.

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