Automotive Battery Thermal Management System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
With electrification of vehicles taking the automotive industry by storm, the demand for adequate temperature maintenance of batteries for their peak performance is also on a constant high. This according to research is the predominant factor accelerating the growth of automotive battery thermal management system market.
New Launches of Automotive Battery Thermal Management System Designs Swaying Competition Landscape
Some of the most prominent players actively participating in the competitive landscape of global automotive battery thermal management system market include Continental AG, Robert Bosch GmbH, Mahle Behr GmbH, Hanon Systems, Dana Incorporated, LG Chem., Gentherm Incorporated, Calsonic Kansei Corporation, CapTherm Systems, and VOSS Automotive. While a majority of these players in automotive battery thermal management system market continue to enter strategic collaborations with other market leaders, a significant number of them are emphasizing new product launches in automotive battery thermal management system marketplace.
EV Sales Mounting, Pushing Need for Automotive Battery Thermal Management System
Spectacular expansion of the electric vehicles market and subsequently increasing demand for improved vehicle efficiency and enhanced battery performance remain the key determinants boosting the need for automotive battery thermal management system. Soaring consumer inclination towards purchasing advanced lithium-ion batteries to keep in pace with the global sustainability quotient is cited as a strong factor fueling automotive battery thermal management system adoption.
Fast EV Battery Charging Pushing Demand for Effective Automotive Battery Thermal Management System
While passenger cars remain a highly sought after category of vehicles adopting effective automotive battery thermal management system, electric buses, LCVs, and electric coaches are gradually registering significant growth in terms of automotive battery thermal management system adoption. Following elevating EV sales, the charging infrastructure is constantly evolving, coupled with the development of rapid electric vehicle chargers. Moreover, consistently improving performance and life of batteries and steadily falling EV prices on the flipside, are collectively bolstering the growth outlook of automotive battery thermal management system market.
Automotive Battery Thermal Management System Witnessing Significant Adoption within Developing Asian Countries
Asia Pacific has been a key market for penetration of automotive battery thermal management systems, which can been attributed to the ever-thriving automotive industry, adoption of avant-garde technologies, and most importantly - consistently increasing demand for EVs. The region is also rapidly moving to a sustainable vehicular emission strategy by luring consumers with various tax exemptions and subsidies on EVs and HEVs, which further points to positive prospects of the region’s automotive battery thermal management system market. With soaring acceptance from evolving consumer demographics and tightening regulatory standards related to electric and hybrid vehicles, especially in Asia’s developing markets, it is more likely that automotive battery thermal management system market will continue to discover high potential opportunities in the years to come.
Solid State Batteries Vs Li-ion Batteries – What Is More Popular in Automotive Battery Thermal Management System Market?
Lithium-ion batteries have been a preferred choice among EV manufacturers owing to their light weight, high density, endurance, and significantly low self-discharge rate. However, attributed to compact size, superior energy density, and excellent battery endurance, solid state batteries are gaining ground in recent years. Driven by this trend, solid state batteries are thus likely to discover promising sales opportunities in automotive battery thermal management system market in the near future.
Segmentation: Global Automotive Battery Thermal Management System Market
On the basis of technology, the automotive battery thermal management system market is segmented into –
By the type of battery, the automotive battery thermal management system market is classified into -
Based on the type of vehicle, the automotive battery thermal management system market is categorized into -
By propulsion, the automotive battery thermal management system market is segmented into –
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