Automotive Thermal Systems Market Size, Share, Growth Analysis, By Components(Compressor, HVAC, Powertrain cooling, Fluid Transport), By Vehicle Type(Passenger vehicles, Commercial vehicles), By Propulsion Type(IC engine vehicles, Electric vehicles, Hybrid vehicles), By Application(Front & rear A/C, Engine, Transmission, Seat), By Region - Industry Forecast 2024-2031

The global automotive thermal systems market is fragmented, with a growing number of manufacturers dominating the market share. Companies see an opportunity to accelerate expansion through the introduction of new products and sales through unconventional channels. Key players frequently use mergers and acquisitions and product portfolio expansion as important tactics. Leading automakers including BMW, Fiat Chrysler, Ford, GM, Honda, Hyundai, JLR, Kia, Mercedes, and Nissan have used technologies like active heat transfer, integrated liquid-cooled exhaust/EGR, variable engine oil pump, and engine thermal mass reduction.

Automotive Thermal Systems Market Top Players Company Profiles

• Modi ne Manufacturing Company
• Hanon Systems
• Denso Corporation
• Valeo SA
• Mahle GmbH
• BorgWarner Inc.
• Eberspaecher Holding GmbH & Co. KG
• Visteon Corporation
• Marelli Holdings Co., Ltd.
• MAHLE Behr GmbH & Co. KG
• Calsonic Kansei Corporation
• Keihin Corporation
• Sanden Holdings Corporation
• Sensata Technologies, Inc.
• Subros Limited
• Schaeffler AG
• ZF Friedrichshafen AG
• Dana Incorporated
• Robert Bosch GmbH
• Johnson Electric Holdings Limited

Automotive Thermal Systems Market Recent Development

• In February 2022, Toyota developed a manual transmission for electric vehicles, for which the company also filed a patent. The company has successfully integrated an H-pattern manual transmission with a three-pedal layout and a battery electric motor.
• In January 2022, Visteon introduced the new industry-first smart wireless battery management system with additional benefits of thermal management and electrification technology, catering to the battery heat management needs in electric vehicles.
• In May 2021, Hanon Systems completed the acquisition of the condenser business from Keihin Corporation for certain operations in Europe and North America.
• In March 2021, Hanon Systems began construction on its fifth plant in Korea. The facility will manufacture a variety of solutions, such as heat pump modules and coolant valve assemblies, to support electric vehicles for the Genesis brand and Hyundai's Ioniq 5 model.
• In February 2021, MAHLE GmbH reached an agreement with Keihin Corporation (now known as Hitachi Astemo, Ltd.) to acquire its thermal management business activities in Japan, Thailand, and the U.S.