HOME Research Insight Denso (Japan) and Valeo (France) are the Top Players in the Automotive Thermal Management Market



Denso (Japan) and Valeo (France) are the Top Players in the Automotive Thermal Management Market


The global automotive thermal management market is projected to grow at a CAGR of 3.32% during the forecast period, from an estimated USD 52.69 Billion in 2018 to reach USD 66.10 Billion by 2025. Major factors responsible for driving the demand for automotive thermal systems are increasing stringency in emission regulation to upsurge the fuel economy, increased vehicle production, and growing demand for comfort features.

The automotive thermal management system manufacturers have adopted new product development, geographical expansion, and supply contracts as the most preferred strategies to gain traction in the market. For instance, in January 2018, Valeo developed a system that allows the interior temperature of the vehicle to be adjusted according to each passenger’s physical condition and sensitivity to temperature. Also, Schaeffler has opened a new engine thermal management module plant in Svitavy, Czech Republic. The plant was built with an investment of USD 28.1 million.

On the basis of revenue generation, geographic footprint, and organic & inorganic strategies, the top players in the automotive thermal management market are Denso (Japan), Gentherm (US), MAHLE (Germany), Valeo (France), BorgWarner (US), Dana (US), Calsonic Kansei (Japan), Eberspächer (Germany), Continental (Germany), and Schaefflser (Germany). These companies collectively account for a major share of the automotive thermal management market.

Denso has a strong presence in the North American and Asian markets. Various product categories are thermal control, heat/cool generation, and air conditioning system. It has been adopting strategies such as expansion and new product development to strengthen its position in the automotive thermal management market. For instance, in 2016, Denso developed RAFESPA, a high-sensitivity, a flat heat-flux sensor with semiconductors. The sensor is expected to speed up thermal designing processes such as heat loss evaluations for vehicle engine rooms. Nitrogen Oxide (NOx) sensors and Air–Fuel (AF) ratio sensors are installed to precisely measure NOx and AF ratio and provide feedback for accurate engine control. In May 2017, Denso commercialized the world’s first combination of NOx and AF ratio sensor. The new sensor has been adopted for Toyota Motor Corporation’s diesel commercial vehicles for countries outside Japan.

Valeo has strong R&D and production capacities. It has a strong presence in the developed markets of North America, Europe, and in emerging economies such as Asia Oceania, which has made the company a formidable competitor in the global automotive thermal management market. The company focuses on new product development and acquisition to increase its global presence and market share. For instance, in October 2017, Valeo developed Heating, Ventilation, and Air Conditioning (HVAC) solutions specifically designed for electric and hybrid vehicles, buses, and coaches. It developed the REVO-E Global range of electric roof units, a comprehensive solution for electric buses and coaches that optimize HVAC performance in the cabin, and the battery cooler, which maintains the temperature of the battery cells in hybrid and electric vehicles. In April 2016, Valeo acquired Spheros, a Germany-based manufacturer of air-conditioning systems for buses.

Related Reports:

Automotive Thermal Management Market by Application (Front & Rear A/C, Engine, Transmission, Seat, Steering, Battery, Motor, Power Electronics, Waste Heat Recovery), Technology, Vehicle Type (ICE, BEV, HEV, PHEV, and FCEV), and Region - Global Forecast to 2025

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