Market Share of Automotive Thermal Management Industry
The automotive thermal management market is moderately consolidated, with the major players dominating the market. Some of these players include Denso Corporation, Valeo, Mahle GmbH, Hanon System, and BorgWarner Inc. These payers engage in new product launches, joint ventures, and capacity expansions to expand their business activities and cement their market position. For instance,
- In November 2022, Denso Corp. launched a new LD9 electric zero emissions thermal management unit for buses and coaches at Bus & Coach Expo in Sydney, Australia.
- In March 2022, Hanon Systems inaugurated a new plant located in Huchai, China, to manufacture heating, ventilation, and air conditioning (HVAC) modules for electrified vehicles.
Automotive Thermal Management Market Leaders
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BorgWarner Inc.
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Mahle GmbH
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Hanon Systems
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Valeo
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Denso Corporation
*Disclaimer: Major Players sorted in no particular order
