The Global Electric Vehicle Thermal Management System Market is expected to grow with a CAGR of 24.1% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.

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The global electric vehicle thermal management system market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to favorable market scenarios.

The major players dealing in the global electric vehicle thermal management system market are introducing a strong range of products provider and launching new products, and adopting strategic initiatives such as acquisition, agreement, business expansion, award, and recognition into the market. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

• In September 2021, MAHLE GmbH announced that they had developed a completely new battery cooling system. This new immersion cooling system shortens the charging times in electric cars. Also, this system makes batteries more compact, making electric cars cheaper and more resource-efficient. Thus with this, the company is penetrating deep into the e-mobility market

MAHLE GmbH is the dominating player in the global electric vehicle thermal management system market. Some of the other key players existing in the market are Valeo, Dana Limited, Hanon Systems, Marelli Holdings Co., Ltd., Robert Bosch GmbH, BorgWarner Inc. Continental AG, VOSS Automotive GmbH, Kendrion N.V., LG Chem, DENSO Coropration, NORMA Group, MODINE MANUFACTURING COMPANY, GENTHERM, A. KAYSER AUTOMOTIVE SYSTEMS GmbH, Ymer Technology, Grayson, and others.

MAHLE GmbH

MAHLE GmbH was founded in 1920 and headquartered in Stuttgart, Germany. It has private ownership. The company is a manufacturer and supplier of automotive parts. The company has several product categories, including Aftermarket, E-Mobility, Passenger cars, Commercial vehicles, Services, Industrial and Special vehicles, Large Engine Components, Small Engine Components of which E-Mobility is the market-focused category. The company operates in various business segments such as Engine Systems and Components, Filtration and Engine Peripherals, Thermal Management, Electronics and Mechatronics, Aftermarket, Profit Centers & Services of which Thermal Management is the market-focused segment.

For instance,

• In July 2019, MAHLE GmbH announced that they had developed a compact and economic system based on a heat pump to increase the winter cruising range by up to 20 percent. This new Integrated Thermal System (ITS) helps in reducing the loss of cruising range, especially at cold ambient temperatures. Thus with this, the company is expanding its product portfolio in the market

The company has wide presence across North America, South America, Asia-Pacific, Europe, Middle East and Africa. The subsidiaries of the company are MAHLE Aftermarket GmbH (Stuttgart), MAHLE Amovis GmbH (Berlin), MAHLE Beteiligungen GmbH (Stuttgart), MAHLE Blechtechnologie GmbH (Stuttgart), MAHLE Filtersysteme GmbH (Stuttgart), among others.

Valeo

Valeo was founded in the year 1923, headquartered in Paris, Europe. It has public ownership. The company is engaged in designing innovative solutions for smart mobility. The company has several product categories, including Comfort and Driving Assistance Systems, Powertrain Systems, Thermal Systems, Visibility systems, Valeo Service, Heavy Commercial Vehicles, of which Thermal Systems is the market-focused category. The company operates in various business segments such as Comfort & Driving Assistance Systems, Powertrain Systems, Thermal Systems, Visibility Systems, of which Thermal Systems is the market-focused segment.

For instance,

• In May 2018, Valeo announced the launch of its new thermal management solution at the 15th Beijing International Automotive Exhibition, Auto China 2018. This new solution will help electric vehicles to extra miles and last batteries longer. Also, the solution can increase an electric vehicle’s range by up to 30% in winter and up to 20% in summer. Thus with this, the company has come up with an advanced thermal solution for EVs

The company has a presence in the Americas, Asia-Pacific, Europe, Middle East and Africa. The subsidiaries of the company are AbleVets LLC (Virginia), Cerner Belgium (Belgium), Cerner Campus Redevelopment Corporation (Missouri), Cerner Canada Limited LLC(Delaware), Cerner Canada ULC (Canada), among others.

Dana Limited

Dana Limited was founded in 1904, headquartered in Ohio, U.S. It has public ownership. The company is engaged in manufacturing and distributing power-conveyance and energy-management solutions. The company has several product categories, including Driveline, E-mobility, Sealing, Thermal, of which E-mobility is the market-focused category. The company operates in various business segments such as Light Vehicle, Off-Highway, Commercial Vehicle, Power Technologies, of which Light Vehicle is the market-focused segment.

For instance,

• In February 2022, Dana Limited announced its Spicer Electrified motor and inverter system will be featured in the new Ultra4 electrified vehicle (EV) racing series. This new Spicer Electrified TM4 SUMO LD motor and inverter system is durable and tough, making it ideal for rugged off-road vehicles. Thus with this, the company will be able to attract more customers to the market

The company has a presence across North America, Asia-Pacific, South America, and Europe. The subsidiaries of the company are Dana TM4 (Canada), Brevini Power Transmission France (France), Dana Graziano S.R.L. (Cervera), Brevini Fluid Power GmbH (Germany), among others.