Automotive Battery Thermal Management Market Latest Trends And Forecast Till 2030
Research Reports
Jul 17, 2023
Overview of the Automotive Battery Thermal Management Market:
Market Research Future’s report on the global Automotive battery thermal management system industry emphasizes on drivers and challenges to be faced by automakers for the period of 2022 to 2030 (forecast period). Throughout the projected period, the car battery thermal management system market is anticipated to expand at a CAGR of roughly 13.02%. The creation of electric automobiles as a practical alternative to gasoline-powered vehicles may help to meet market demand. The market may benefit from EV and hybrid electric car performance and battery life. For the best driving circumstances, BTMS displays the battery health and calculates the acceleration of EVs.
Battery thermal management is a crucial aspect of electric vehicle technology as it directly impacts the performance, efficiency, and lifespan of the battery. Batteries are sensitive to temperature variations, and extreme heat or cold can lead to reduced efficiency, accelerated degradation, and potential safety risks. To address these challenges, automotive manufacturers are increasingly integrating thermal management systems into their EV designs.
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Competitive Landscape
Mahle, Robert Bosch, Calsonic Kansei, CapTherm Systems, Hanon Systems, Continental, VOSS Automotive, Valeo, GenTherm, DANA, Samsung SDI, and LG Chem are major manufacturers of the global Car battery thermal management system industry.
Awareness of emission norms, subsidies for purchase of EVs, and development of thermoelectric coolers can drive the automotive BTMS market. The quiet and reliable nature of thermoelectric coolers can convert heat into electricity with ease ensuring the smooth functioning of EVs.
The liquid coolant in these coolers can remove heat during active operations and several simulations are conducted of these systems to ensure their precision. Moreover, the shift from internal combustion engines to electric vehicles can work in favor of the market. Battery thermal management system (BTMS) is integrated within electric vehicles for increasing the life of lithium-ion battery cells. Evolution of electric vehicles coupled with stringent norms for controlling emissions can make it mandatory for attaching BTMS with powertrain.
Segmentation
By vehicle type, it is divided into commercial and passenger. The latter is expected to dominate the global Car battery thermal management system industry owing to popularity of EVs and subsidies provided by nations to assure its sales. On the other hand, the commercial vehicle segment can capture a significant market share due to demand for lightweight trucks and battery-driven buses.
By technology, it is segmented into thermos electric, phase change material (PCM), air system, and liquid system. Air system and liquid system segments are projected to lead in the market till the end of the forecast period.
By propulsion, it is segmented into PHEV, BEV, HEV, and FCV. The BEV segment is likely to lead in the market. This is attributed to maximum subsidies offered for these vehicles and increasing number of BEVs offered by automotive manufacturers. Dip in battery prices and decreased battery charging times can boost the segment demand in the global automotive BTMS market.
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Regional Analysis
The market is segmented based on America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to dominate the market by the end of the forecast period due to government plans 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. Incentives given to customers and electrification of transportation modes can bode well for the market.
Americas has assumed the second position in the global battery thermal management system. Adoption of lithium-ion batteries is expected to facilitate market demand over the forecast period. Recently, Hyundai Kona Electrics has decided to include heat pump systems for converting heat into power for its EV driving customers in the U.S.
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