The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Electric Vehicle Battery Thermal Management Systems Market. The rising demand for the Electric Vehicle Battery Thermal Management Systems Market is expected to drive the demand for Electric Vehicle Battery Thermal Management Systems Market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global electric vehicle battery thermal management systems market size was USD 4.70 Billion in 2022 and is expected to register a revenue CAGR of 20.50% during the forecast period, according to latest analysis by Emergen Research. Electric vehicle battery thermal management systems market revenue growth is driven by factors such as rising demand for electric vehicles, increasing adoption of new technologies in lithium-ion batteries, government regulation incentives, increasing automotive Original Equipment Manufacturers (OEMs), and supplier partnerships and technological advancements.
The thermal management of these vehicles affects their performance, reliability, and robustness, among other factors. Electric automobiles need optimal temperatures that are neither too hot nor too cold to function properly. An electric vehicle's battery pack, power electronics, and motor must perform effectively at optimal temperatures. When kept at the proper temperature, the battery's charge, health, and capacity are all maintained. Power electronic systems and motors display their optimal functioning profiles at ideal temperatures.
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Report Scope:
Forecast Period: 2023- 2032
CAGR: 20.50%
Base Year: 2022
Number of Pages: 250
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
The complete regional analysis covers:
- North America (U.S., Canada, Mexico
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Leading Players Profiled in the Report:
Valeo, Hanon Systems., SAMSUNG SDI CO., LTD, VOSS Automotive GmbH, MAHLE GmbH, Dana Limited, GENTHERM, Robert Bosch GmbH, Continental AG., LG Chem.
Some Key Highlights from the Report
- The Hybrid Electric Vehicle (HEV) segment accounted for a significantly large revenue share in 2022. Global automotive industries have recently switched their development patterns away from conventional engine mechanical components and toward digital transformation of electrification components in advanced propulsion vehicles.
- A growing technology for new propulsion systems, such as Hybrid Electrical Vehicles (HEV), is produced as a result of the industrial influence on worldwide development trends in automotive electrification designs. Global standards for advanced propulsion systems aim to increase vehicle fuel economy and reduce pollution emissions from vehicles.
- Automotive lubricants, such as drivetrain fluids or thermal coolants, come into touch with the integrated electric motor (e-motor) and thermal management components in many HEV or EV advanced system designs. As a result, in addition to the conventional lubricant qualities, consideration must be given to electrical and thermal characteristics, hence driving revenue growth of this segment.
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Emergen Research has segmented the global electric vehicle battery thermal management systems market on the basis of propulsion type, technology, vehicle type, battery type, and region:
· Propulsion Type Outlook (Revenue, USD Billion; 2019-2032)
- Battery Electric (BEV)
- Plug-in Hybrid (PHEV)
- Hybrid Electric (HEV)
· Technology Outlook (Revenue, USD Billion; 2019-2032)
- Air Cooling and Heating
- Liquid Cooling and Heating
- Phase Change Material (PCM)
· Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)
- Passenger Cars
- Commercial Vehicle
· Battery Type Outlook (Revenue, USD Billion; 2019-2032)
- Conventional
- Solid-state
In conclusion, the report is designed to provide an in-depth analysis of all the key change calculation factors that replicate the decisions that trigger the change, which pushes the player’s winning position profitable on the growth curve despite massive competition in the target Electric Vehicle Battery Thermal Management Systems market.
Key Questions Answered in the Report:
What is the growth rate of the Electric Vehicle Battery Thermal Management Systems market? What is the anticipated market valuation of Electric Vehicle Battery Thermal Management Systems industry by 2032?
What are the key growth driving and restraining factors of the Electric Vehicle Battery Thermal Management Systems market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Electric Vehicle Battery Thermal Management Systems industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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