Chan Ye Xin Xi Wang·2025-12-28 01:01Industry Overview - The thermostat industry in China is undergoing a significant transformation from traditional fuel vehicles to new energy vehicles, with notable changes in market demand, technology routes, and competitive landscape [1][7] - The overall operation of the industry remains stable, but structural adjustments are evident, with the market size projected to reach approximately 15.744 billion yuan in 2024, representing a year-on-year growth of 10.69% [1][8] - The growth momentum has shifted to the new energy vehicle sector, driven by the higher requirements for temperature control precision and response speed in battery thermal management and electric motor cooling systems [1][7] Thermostat Functionality and Types - Thermostats are automatic temperature control devices that regulate the flow of coolant based on temperature, ensuring the engine operates within an optimal temperature range [2] - There are two main types of thermostats: paraffin thermostats, which are simple and cost-effective but have inherent response delays, and electronic thermostats, which offer rapid response and higher precision, becoming essential in new energy vehicles [3][4] Market Dynamics - The demand for thermostats is directly influenced by engine production, with a reported engine output of 228,894.8 million kilowatts in China from January to November 2025, reflecting a year-on-year increase of 6.99% [7] - Traditional wax thermostats dominate the fuel vehicle market due to their low cost and reliability, while electronic thermostats are increasingly penetrating the new energy vehicle market due to their precise temperature control capabilities [7] Key Companies and Performance - Wuxi Weifu has a patented controllable electronic thermostat structure, achieving dynamic temperature control and adapting to national emission standards [8][10] - Hunan Tianyan has been recognized for its high corrosion resistance and thermal conductivity in its thermostat products, with a reported revenue of 359 million yuan in the first three quarters of 2025, marking a year-on-year growth of 20.26% [8][11] Industry Trends - The advancement of electronic thermostat technology is driving the smart upgrade of the industry, with significant improvements in temperature control precision and response speed [12] - The product form is evolving towards integration and modularization, enhancing system efficiency and creating higher technical barriers [13] - The rise of new energy vehicles is restructuring market demand, necessitating a shift from single-engine components to multi-zone and multi-medium control solutions, increasing competitiveness among domestic companies [14]