Allied Market Research published a report on the Automotive Battery Thermal Management System Market by Type (Conventional, Solid), by Vehicle Type (Commercial Vehicles, Passenger Vehicles), by Technology (Active, Passive, Hybrid), by Propulsion (Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicle (PHEVs), Fuel Cell Electric Vehicle (FCEV), Battery Electric Vehicle (BEVs)): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The global automotive battery thermal management system market was valued at $4.6 billion in 2022, and is projected to reach $18.7 billion by 2032, growing at a CAGR of 15.6% from 2023 to 2032.
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The automotive battery thermal management system market is expected to continue growing in the coming years, owing to increasing demand for thermal management system in oil and gas industries. The growing trend towards sustainability is also expected to drive growth in the automotive battery thermal management system industry.
The increase in need for enhanced ride quality and heat insulation for cabin comfort in the automobile sector drives demand for thermal management systems. The growth in the number of electrical and electronic components within automobiles necessitates the development of improved thermal management systems for heat dissipation.
Thermal management solutions for IC engines are likely to become obsolete eventually as the automobile industry transitions to electric mobility. However, the surge in demand for heavy-duty electrical components, such as heavy-duty batteries and high-current motors, is projected to keep these thermal management solutions in high demand. The need for electrical and electronic components in both passenger automobiles and commercial vehicles has expanded tremendously as automation and engine electrification have increased.
EV manufacturers, OEMs, battery and battery technology businesses, and automotive BTMS manufacturers are all involved. Valeo Company has developed sophisticated thermal management systems for EV batteries that assist preserve greater battery life and enhance battery range by up to 30% in both seasons. Furthermore, the firm provides electrically driven compressors (EDCs) for battery cooling and temperature management.
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Competitive Analysis:
The automotive battery thermal management system market key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global automotive battery thermal management system industry include,
- MAHLE GmbH
- LG Chem
- Valeo
- Hanon Systems
- Samsung SDI Co., Ltd.
- Dana Limited
- Continental AG
- Gentherm Inc
- Calsonic Kansei Corporation (Marelli Corporation)
- Robert Bosch GmbH
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international automotive battery thermal management system Market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
- This study comprises analytical depiction of the automotive battery thermal management system market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall automotive battery thermal management system market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
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