Electric Vehicle Heat Pump Systems Market Size and Forecast, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Propulsion Type, Component, Vehicle Type, and Geography

Description

List of Tables

The electric vehicle heat pump systems market size is projected to reach US$ 1,924.69 million by 2031 from US$ 437.94 million in 2023. The market is expected to register a CAGR of 20.3% during 2023-2031. The rising role of electric vehicles in energy transition is likely to remain a key future trend in the market.

Major stakeholders in the global electric vehicle heat pump systems market ecosystem are raw material suppliers, electric vehicle (EV) heat pump system manufacturers, and end users.

The accessibility of many raw material suppliers facilitates the electric vehicle heat pump market players to select suitable suppliers. The accessibility of raw material suppliers primarily enhances the supply chain of the electric vehicle heat pump systems market. Upon obtaining raw materials, the market players yield significant volumes of electric vehicle heat pump systems with different capacities, meeting corresponding customer demands. Continental AG, Rheinmetall, Mitsubishi Heavy Industries, Daikin Industries Ltd, Danfoss A/S, Emerson Electric, Johnson Controls International Plc, Valeo, Robert Bosch GmbH, Siemens AG, and Carrier are among the prominent players operating in the electric vehicle heat pump systems market. For instance, in 2023, Rheinmetall introduced a comprehensive product package for thermal management as plug and play solution for electric vehicles. Rheinmetall introduced a new heat pump with a new coolant system that can boost the range of vehicles and the lifespan of materials while at the same time enhancing passenger comfort. The product was developed precisely to facilitate precision climate control in the passenger cabin along with intelligent conditioning of batteries in electric vehicles.

The year 2022 marked a significant year for electric car sales in emerging markets, particularly India, Thailand, and Indonesia. Collectively, sales of electric cars were more than triple compared to 2021, reaching a remarkable 80,000 units. Thailand emerged as the front runner, where the number of EVs sold in 2023 was 78,314 as compared to 9,729 in 2022. India and Indonesia also showed notable progress, with countries averaging around 1.5% of their total vehicle sales being electric cars over the same period.

India has seen a notable uptick in the manufacturing of EVs and components. This growth has been enabled by the government's visionary US$ 3.2 billion stimulus program, which has successfully attracted significant investments totaling US$ 8.3 billion. These investments have accelerated the development of electric mobility and made India a major economy in the global EV landscape. Thailand and Indonesia have also proactively strengthened their policy support frameworks for EVs. These initiatives enhance the adoption of electric cars within their borders and serve as valuable case studies for other emerging economies looking to promote electric mobility and reduce carbon emissions. The experiences of these nations provide valuable insights and strategies for achieving sustainable and environmentally friendly transportation solutions in the evolving automotive landscape. Therefore, the growing economies are expected to provide promising opportunities for the electric vehicle heat pump systems market from 2023 to 2031.

Airbus SE, The Boeing Company, Ball Corporation, Korea Aerospace Industries Ltd, Lockheed Martin Corporation, Maxar Technologies Inc, Northrop Grumman Corporation, Thales Group, Israel Aerospace Industries Ltd, and OHB SE are among the key players covered in the electric vehicle heat pump systems market report. Companies in the market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.

Product Code: TIPRE00039289

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.1 Developing base number:
- 3.2.2 Data Triangulation:
- 3.2.3 Country level data:

4. Electric Vehicle Heat Pump Systems Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in the Value Chain

5. Electric Vehicle Heat Pump Systems Market - Key Market Dynamics

5.1 Electric Vehicle Heat Pump Systems Market - Key Market Dynamics
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Future Trends
5.6 Impact of Drivers and Restraints:

6. Electric Vehicle Heat Pump Systems Market - Global Market Analysis

6.1 Overview
6.2 Electric Vehicle Heat Pump Systems Market Revenue (US$ Million), 2021-2031
6.3 Electric Vehicle Heat Pump Systems Market Forecast Analysis

7. Electric Vehicle Heat Pump Systems Market Analysis - by Propulsion Type

7.1 BEV
- 7.1.1 Overview
- 7.1.2 BEV: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
7.2 HEV
- 7.2.1 Overview
- 7.2.2 HEV: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
7.3 PHEV
- 7.3.1 Overview
- 7.3.2 PHEV: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)

8. Electric Vehicle Heat Pump Systems Market Analysis - by Component

8.1 Evaporator
- 8.1.1 Overview
- 8.1.2 Evaporator: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Condenser
- 8.2.1 Overview
- 8.2.2 Condenser: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Compressors
- 8.3.1 Overview
- 8.3.2 Compressors: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Others
- 8.4.1 Overview
- 8.4.2 Others: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)

9. Electric Vehicle Heat Pump Systems Market Analysis - by Vehicle Type

9.1 Passenger Vehicle
- 9.1.1 Overview
- 9.1.2 Passenger Vehicle: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Commercial Vehicle
- 9.2.1 Overview
- 9.2.2 Commercial Vehicle: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)

10. Electric Vehicle Heat Pump Systems Market - Geographical Analysis

10.1 Overview
10.2 North America
- 10.2.1 North America Electric Vehicle Heat Pump Systems Market Overview
- 10.2.2 North America: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
- 10.2.3 North America: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
  - 10.2.3.1 North America: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Propulsion Type
- 10.2.4 North America: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
  - 10.2.4.1 North America: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Component
- 10.2.5 North America: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.2.5.1 North America: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Vehicle Type
- 10.2.6 North America: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.1 North America: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.2 United States: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.2.1 United States: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.2.6.2.2 United States: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.2.6.2.3 United States: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.2.6.3 Canada: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.3.1 Canada: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.2.6.3.2 Canada: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.2.6.3.3 Canada: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.2.6.4 Mexico: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.4.1 Mexico: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.2.6.4.2 Mexico: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.2.6.4.3 Mexico: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
10.3 Europe
- 10.3.1 Europe Electric Vehicle Heat Pump Systems Market Overview
- 10.3.2 Europe: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
- 10.3.3 Europe: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
  - 10.3.3.1 Europe: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Propulsion Type
- 10.3.4 Europe: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
  - 10.3.4.1 Europe: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Component
- 10.3.5 Europe: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.3.5.1 Europe: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Vehicle Type
- 10.3.6 Europe: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.1 Europe: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.2 Germany: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.2.1 Germany: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.3.6.2.2 Germany: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.3.6.2.3 Germany: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.3.6.3 France: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.3.1 France: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.3.6.3.2 France: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.3.6.3.3 France: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.3.6.4 Italy: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.4.1 Italy: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.3.6.4.2 Italy: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.3.6.4.3 Italy: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.3.6.5 United Kingdom: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.5.1 United Kingdom: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.3.6.5.2 United Kingdom: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.3.6.5.3 United Kingdom: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.3.6.6 Russia: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.6.1 Russia: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.3.6.6.2 Russia: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.3.6.6.3 Russia: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.3.6.7 Rest of Europe: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.7.1 Rest of Europe: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.3.6.7.2 Rest of Europe: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.3.6.7.3 Rest of Europe: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
10.4 Asia Pacific
- 10.4.1 Asia Pacific Electric Vehicle Heat Pump Systems Market Overview
- 10.4.2 Asia Pacific: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
- 10.4.3 Asia Pacific: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
  - 10.4.3.1 Asia Pacific: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Propulsion Type
- 10.4.4 Asia Pacific: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
  - 10.4.4.1 Asia Pacific: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Component
- 10.4.5 Asia Pacific: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.4.5.1 Asia Pacific: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Vehicle Type
- 10.4.6 Asia Pacific: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.4.6.1 Asia Pacific: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.4.6.2 Australia: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.2.1 Australia: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.4.6.2.2 Australia: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.4.6.2.3 Australia: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.4.6.3 China: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.3.1 China: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.4.6.3.2 China: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.4.6.3.3 China: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.4.6.4 India: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.4.1 India: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.4.6.4.2 India: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.4.6.4.3 India: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.4.6.5 Japan: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.5.1 Japan: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.4.6.5.2 Japan: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.4.6.5.3 Japan: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.4.6.6 South Korea: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.6.1 South Korea: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.4.6.6.2 South Korea: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.4.6.6.3 South Korea: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.4.6.7 Rest of Asia Pacific: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.7.1 Rest of Asia Pacific: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.4.6.7.2 Rest of Asia Pacific: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.4.6.7.3 Rest of Asia Pacific: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
10.5 Rest of the World
- 10.5.1 Rest of the World Electric Vehicle Heat Pump Systems Market Overview
- 10.5.2 Rest of the World: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
- 10.5.3 Rest of the World: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
  - 10.5.3.1 Rest of the World: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Propulsion Type
- 10.5.4 Rest of the World: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
  - 10.5.4.1 Rest of the World: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Component
- 10.5.5 Rest of the World: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.5.5.1 Rest of the World: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Vehicle Type
- 10.5.6 Rest of the World: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.5.6.1 Rest of the World: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast Analysis - by Country
  - 10.5.6.2 Middle East and Africa: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.5.6.2.1 Middle East and Africa: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.5.6.2.2 Middle East and Africa: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.5.6.2.3 Middle East and Africa: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type
  - 10.5.6.3 South America: Electric Vehicle Heat Pump Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.5.6.3.1 South America: Electric Vehicle Heat Pump Systems Market Breakdown, by Propulsion Type
    - 10.5.6.3.2 South America: Electric Vehicle Heat Pump Systems Market Breakdown, by Component
    - 10.5.6.3.3 South America: Electric Vehicle Heat Pump Systems Market Breakdown, by Vehicle Type

11. Competitive Landscape

11.1 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development

13. Company Profiles

13.1 Denso Corp
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Modine Manufacturing Co
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Hanon Systems
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Mahle GmbH
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Rheinmetall AG
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Valeo SE
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Mitsubishi Heavy Industries Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 TitanX Holding AB
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 SANDEN Corp
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Highly Marelli Holdings Co., Ltd.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners