DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Battery Thermal Management System Market By Type, By Technology, By Propulsion Type, By Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the electric vehicle battery thermal management system market was valued at $2.3 billion in 2021, and is estimated to reach $8.4 billion by 2031, growing at a CAGR of 14.6% from 2022 to 2031.
The battery thermal management system (BTMS) is the device responsible for managing heat produced during the electrochemical processes occurring in cells, allowing the battery to operate efficiently and safely. The battery thermal management system keeps the temperature in a battery pack within a fixed range. Moreover, automobile manufacturers are inclined toward electric and alternative fuel vehicles, owing to increase in battery thermal management system for better range.
Furthermore, the rise in fuel efficiency norms encourage the development of alternative energy-driven vehicles. Thus, automobile manufacturers are shifting towards electric and alternative fuel automobiles. The increase in commercial and passenger automobile production as well as more advanced technology, creates a demand for EV battery thermal management system across the globe.
For instance, Valeo launched battery cooling systems and comprehensive range of coolers solutions for plug-in hybrids and full EVs. In addition, a heat pump system harvests available ambient energy to heat, cool and demist car cabins, delivering optimal heating and air-conditioning.
The electric vehicle battery thermal management system market is segmented on the basis of type, technology, propulsion type, vehicle type and region. By type, it is divided into active, passive, and hybrid. By technology, it is classified into liquid cooling and heating system, air cooling and heating, and others. By propulsion type, it is divided into battery-electric vehicles (BEV), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles. By vehicle type, it is segmented into passenger vehicles, commercial vehicles and two-wheeler & three-wheeler. By region, the market is analyzed across North, Europe, Asia-Pacific, and LAMEA.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investments. In addition, it includes Porter's five forces analysis to understand competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights competitive landscape of key players to increase their market share and sustain intense competition in the industry.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global electric vehicle battery thermal management system market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall electric vehicle battery thermal management system market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the global electric vehicle battery thermal management system market with a detailed impact analysis.
- The current electric vehicle battery thermal management system market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Type
- Active
- Passive
- Hybrid
By Technology
- Liquid Cooling and Heating
- Air Cooling and Heating
- Others
By Propulsion Type
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug in Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Two Wheeler and Three Wheeler
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Netherlands
- U.K.
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Modine Manufacturing Company
- continental ag
- Gentherm
- Dana Limited
- Hanon Systems
- Valeo
- MAHLE GmbH
- Robert Bosch GmbH
- Grayson
- VOSS Automotive GmbH
For more information about this report visit https://www.researchandmarkets.com/r/dx4i62
