The factors that are responsible for the growth of automotive battery thermal management system market during the forecast period are rise in awareness of electric vehicles, government initiatives in tax exemption, investment in charging infrastructure, and subsidies offered to purchase electric vehicles. Original Equipment Manufacturers (OEM) are developing cost effective and light weight battery thermal management systems, which can improve the overall performance of the vehicle. The market for automotive battery thermal management system is projected to grow at 16% CAGR during the forecast period.
The prominent players in the Automotive Battery Thermal Management System market include –
LG Chem (South Korea), Continental (Germany), GenTherm (U.S.), Robert Bosch (Germany), Valeo (France), Calsonic Kansei (Japan), DANA (U.S.), Hanon Systems (Korea), Samsung SDI (Korea), Mahle (Germany), VOSS Automotive (Germany), and CapTherm Systems (Canada).
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The Battery Thermal Management System (BTMS) plays a vital role in controlling the thermal behavior of battery cells. The battery thermal management system manufacturers are testing new materials, arrangements, design, and technologies to improve the overall durability of the powertrain technology. Battery manufacturers are facing issues in energy consumption of automotive electrical equipment. Stringent emission norms will enable key battery manufacturers to adopt the latest energy-efficient technologies. In addition to that, energy efficient technology will minimize heat dissipation through an electric inverter, electric control unit, and water pump in order to improve the overall dynamics of battery thermal management system.
This study provides an overview of the Global Automotive Battery Thermal Management System Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for America, Europe, Asia Pacific (APAC) and Rest of the World (ROW).
The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive battery thermal management system market by its technology, propulsion, battery capacity, vehicle type, and REGION.
- Forced Air System
- Liquid System
- Phase Change Material (PCM) System
- Thermo Electrics
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Fuel Cell Vehicle
By Battery Capacity:
- 0 – 200 KWh
- 200 – 500 KWh
- 500 KWh
By Vehicle Types:
- Passenger Vehicles
- Commercial Vehicles
The market is segmented based on America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market in future because of government ambition plan for electric vehicles. For instance, Chinese companies, such as BYD Co. and BAIC Motor Corp., and Japanese companies, such as Nissan and Mitsubishi, are investing huge amount money on electric vehicles. America market is second to the Asia Pacific market in battery thermal management system. Thus, the automotive battery thermal management system market is estimated to grow at approximately 16% CAGR during the period 2017-2023.
The report for Global Automotive Battery Thermal Management System Market of Market Research Future comprises extensive primary research, along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of current market scenario, which includes historical and projected market size in terms of value and volume, technological advancement, macro-economic, and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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