diff --git a/platform/mellanox/hw-management.mk b/platform/mellanox/hw-management.mk
index 04674776f72..2c586edb6e4 100644
--- a/platform/mellanox/hw-management.mk
+++ b/platform/mellanox/hw-management.mk
@@ -17,7 +17,7 @@
 #
 # Mellanox HW Management
 
-MLNX_HW_MANAGEMENT_VERSION = 7.0040.4028
+MLNX_HW_MANAGEMENT_VERSION = 7.0040.4030
 
 export MLNX_HW_MANAGEMENT_VERSION
 
diff --git a/platform/mellanox/hw-management/hw-mgmt b/platform/mellanox/hw-management/hw-mgmt
index fa38f8d82a6..84e1613f1ec 160000
--- a/platform/mellanox/hw-management/hw-mgmt
+++ b/platform/mellanox/hw-management/hw-mgmt
@@ -1 +1 @@
-Subproject commit fa38f8d82a621e9ce8172ff077b70b4867aac767
+Subproject commit 84e1613f1ec3dc71f40a8a28ad059e3a67c8859c