Automotive Battery Thermal Management System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Automotive Battery Thermal Management System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
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.
- Hyundai Motor Company recently introduced an innovative battery thermal management design in their new Kona Electric (2019). After the Jaguar I-PACE, Chevrolet Bolt EV, and the upcoming lineup of Audi e-tron, Hyundai has launched a new automotive battery thermal management system for an entire new generation of all-EVs. Unlike most other battery thermal management designs that have been using a fan for automotive battery thermal management (of their battery packs), Hyundai’s new design involves liquid-cooling of the Kona pack battery cells.
- Looking at the sensitivity of Li-ion batteries powering EVs to extreme cold temperatures, Tesla, Inc. has been focusing efforts on boosting performance of their EVs on ice and snow through automotive battery thermal management system innovations.
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 –
- Passive Automotive Battery Thermal Management System
- Active Automotive Battery Thermal Management System
By the type of battery, the automotive battery thermal management system market is classified into -
- Solid-state Batteries
- Conventional Batteries
Based on the type of vehicle, the automotive battery thermal management system market is categorized into -
- Commercial Vehicles
- Passenger Vehicles
By propulsion, the automotive battery thermal management system market is segmented into –
- Fuel Cell Vehicles
- Hybrid Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Battery Electric Vehicles
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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