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The Automotive Battery Thermal Management System Market Research report, it has become easy to gain global perspective for the international business. Focus groups and in-depth interviews are included for qualitative analysis whereas customer survey and analysis of secondary data has been carried out under quantitative analysis. This market research report acts as a very significant constituent of business strategy. This market report is a definite study of the Automotive Battery Thermal Management System Market industry which explains what the market definition, classifications, applications, engagements, and global industry trends are. Automotive Battery Thermal Management System Market report proves to be a sure aspect to help grow the business.
Data Bridge Market Research analyses that the global automotive battery thermal management system market will grow at a CAGR of 23.3% during the forecast period of 2023 to 2030.
Electric vehicles are the promising renewable substitute to gasoline power-based vehicles for protecting the environment. Many governments take initiatives to promote electric vehicles and offer redemption tax rebates. The rise in the market of electric vehicles in the European and American markets as the technology is rapidly upgrading is increasing the demand for the global automotive battery thermal management system market.
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Global Automotive Battery Thermal Management System Market Drivers
- Increase In Demand For Electric Vehicles
The automotive industry has grown enormously due to the rising demand for luxurious electric vehicles. Some of the factors driving the sales of electric vehicles include stringent government regulations towards vehicle emissions and increasing demand for fuel-efficient, high-performance, and low-emission vehicles.
- Incentives And Subsidies By The Government For Thermal Batteries In Electric Vehicles
An increase in pollution and scarcity of resources, particularly in the automotive sector, has enabled the government to take action for environmental protection. This is leading to the shift of trends in the automotive industry from normal motorized vehicles to electric hybrid vehicles for environmental protection.
Opportunity
- Increase In Various Strategic Decisions By The Companies
Strategic decisions such as partnerships and investments help companies to work toward the desired goal. As the marketplace is changing and evolving, customers are consistently looking for newly developed and advanced products.
Restraint/Challenge
- High Upfront Cost
Thermal batteries are best suited for electric vehicles as they have a less environmental impact and help control air pollution. However, the initial cost of thermal batteries used in automotive industries is higher than others because it includes technologically upgraded components that do not harm the environment. In contrast, the operational costs of thermal batteries in electric vehicles are cheaper than normal battery engine vehicles.
Some of the Major Players Operating In the Automotive Battery Thermal Management System Market Are:
- Robert Bosch GmbH
- Panasonic Holdings Corporation
- Dana Limited
- Hanon Systems
- STMicroelectronics
- Renesas Electronics Corporation
- MAHLE GmbH
- Infineon Technologies AG
- VALEO
- DENSO CORPORATION
- LG Energy Solution
- SAMSUNG SDI CO., LTD.
- Grayson Thermal Systems
- Orion BMS
- LEM International SA
- VOSS Automotive GmbH
- Continental AG
- GENTHERM
- Sensata Technologies, Inc
- MODINE MANUFACTURING COMPANY
Recent Development:
In June 2021, GENTHERM announced they are the lead investor in Carrar, an Israel-based technology developer of advanced thermal management systems for the electric mobility market. The investment will help the company to expand its Battery Performance Solutions portfolio with a technology that can improve EV safety, performance, and charging speed.
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Automotive Battery Thermal Management System Market Segmentation:
Battery Capacity
- Less than 100 kWh
- 100 to 200 kWh
- More than 200 kWh
Type
- Liquid Cooling and Heating
- PCM
- Air Cooling and Heating
Propulsion
- Hybrid Electric Vehicle
- Battery Electric Vehicle
- PHEV & FCV
Technology
- Active
- Passive
Vehicle Type
- Automotive
- Military
- Others
Global Automotive Battery Thermal Management System Market Regional Analysis:
Some countries covered in the global automotive battery thermal management system market report are the U.S., Canada, Mexico, U.K., Germany, France, Hungary, Italy, Netherlands, Poland, Sweden, Austria, Turkey, and the rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Taiwan, Thailand, Philippines, and the rest of Asia-Pacific, South Africa, Saudi Arabia, the U.A.E., Israel, Egypt, and the rest of the Middle East and Africa.
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