Global Automotive Battery Thermal Management System Market, By Battery Capacity (Less Than 100 kWh, 100 to 200 kWh, and More Than 200 kWh), Type (Liquid Cooling and Heating, PCM, and Air Cooling and Heating), Propulsion (Hybrid Electric Vehicle, Battery Electric Vehicle, PHEV & FCV), Technology (Active, Passive), Vehicle Type (Automotive, Military, and Others), Industry Trends and Forecast to 2030.
Automotive Battery Thermal Management System Market Analysis and Insights
Electric vehicles are the promising renewable substitute to gasoline power-based vehicles for protecting the environment. Many governments take initiatives to promote electric vehicles and offer redemption tax rebates. The rise in the market of electric vehicles in the European and American markets as the technology is rapidly upgrading is increasing the demand for the global automotive battery thermal management system market.
Some of the factors anticipated to propel the market growth are increasing demand for electric vehicles, incentives and subsidies by the government for electric vehicles, and increasing environmental concerns among others. However, high upfront costs and design complexities of the components are the restraints that may hamper the market's growth. Adopting new technologies such as solid-state batteries may act as market growth opportunities. Battery performance in different environmental conditions may challenge market growth.
Data Bridge Market Research analyses that the global automotive battery thermal management system market will grow at a CAGR of 23.3% during the forecast period of 2023 to 2030.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2020-2016)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Battery Capacity (Less Than 100 kWh, 100 to 200 kWh, and More Than 200 kWh), Type (Liquid Cooling and Heating, PCM, and Air Cooling and Heating), Propulsion (Hybrid Electric Vehicle, Battery Electric Vehicle, PHEV & FCV), Technology (Active, Passive), Vehicle Type (Automotive, Military, and Others).
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Countries Covered
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U.S., Canada, Mexico, U.K., Germany, France, Hungary, Italy, Netherlands, Poland, Sweden, Austria, Turkey, and the rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Taiwan, Thailand, Philippines, and the rest of Asia-Pacific, South Africa, Saudi Arabia, the U.A.E., Israel, Egypt, and the rest of the Middle East and Africa.
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Market Players Covered
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Robert Bosch GmbH, Panasonic Holdings Corporation, Dana Limited, Hanon Systems, STMicroelectronics, Renesas Electronics Corporation, MAHLE GmbH, Infineon Technologies AG, VALEO, DENSO CORPORATION, LG Energy Solution, SAMSUNG SDI CO., LTD., Grayson Thermal Systems, Orion BMS, LEM International SA, VOSS Automotive GmbH, Continental AG, GENTHERM, Sensata Technologies, Inc, and MODINE MANUFACTURING COMPANY among others.
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Market Definition
The thermal management system in an automotive battery is the solution that helps in managing the heat generated during the electrochemical processes occurring in cells, allowing the battery to operate safely and efficiently. An electric vehicle requires effective thermal management systems to keep battery temperatures in the correct range and prevent the temperature from fluctuating inside the battery pack. Thus, thermal management systems play a vital role in a vital role in the control of the battery's thermal behaviour.
The adoption of electric vehicles is rising globally due to their zero-emission and high tank-to-wheels efficiency. This has made it necessary to have a proper battery management system to reach maximum performance when operating under various conditions. In addition, the rising trend towards increasing charging rates, which would allow faster charging and longer trips, has raised the demand for more efficient thermal management in EVs.
Global Automotive Battery Thermal Management System Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
INCREASE IN DEMAND FOR ELECTRIC VEHICLES
The automotive industry has grown enormously due to the rising demand for luxurious electric vehicles. Some of the factors driving the sales of electric vehicles include stringent government regulations towards vehicle emissions and increasing demand for fuel-efficient, high-performance, and low-emission vehicles.
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INCENTIVES AND SUBSIDIES BY THE GOVERNMENT FOR THERMAL BATTERIES IN ELECTRIC VEHICLES
An increase in pollution and scarcity of resources, particularly in the automotive sector, has enabled the government to take action for environmental protection. This is leading to the shift of trends in the automotive industry from normal motorized vehicles to electric hybrid vehicles for environmental protection.
Opportunity
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INCREASE IN VARIOUS STRATEGIC DECISIONS BY THE COMPANIES
Strategic decisions such as partnerships and investments help companies to work toward the desired goal. As the marketplace is changing and evolving, customers are consistently looking for newly developed and advanced products.
Restraint/Challenge
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HIGH UPFRONT COST
Thermal batteries are best suited for electric vehicles as they have a less environmental impact and help control air pollution. However, the initial cost of thermal batteries used in automotive industries is higher than others because it includes technologically upgraded components that do not harm the environment. In contrast, the operational costs of thermal batteries in electric vehicles are cheaper than normal battery engine vehicles.
Recent Development
- In June 2021, GENTHERM announced they are the lead investor in Carrar, an Israel-based technology developer of advanced thermal management systems for the electric mobility market. The investment will help the company to expand its Battery Performance Solutions portfolio with a technology that can improve EV safety, performance, and charging speed.
Global Automotive Battery Thermal Management System Market Scope
The global automotive battery thermal management system market is segmented based on battery capacity, type, propulsion, technology, and vehicle type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Battery Capacity
- Less than 100 kWh
- 100 to 200 kWh
- More than 200 kWh
On the basis of battery capacity, the global automotive battery thermal management system market is segmented into less than 100 kWh, 100 to 200 kWh, and more than 200 kWh.
Type
- Liquid Cooling and Heating
- PCM
- Air Cooling and Heating
On the basis of type, the global automotive battery thermal management system market is segmented into liquid cooling and heating, PCM, and air cooling and heating.
Propulsion
- Hybrid Electric Vehicle
- Battery Electric Vehicle
- PHEV & FCV
On the basis of propulsion, the global automotive battery thermal management system market is segmented into hybrid electric vehicle, battery electric vehicle, and PHEV & FCV.
Technology
- Active
- Passive
On the basis of technology, the global automotive battery thermal management system market is segmented into active and passive.
Vehicle Type
- Automotive
- Military
- Others
On the basis of vehicle type, the global automotive battery thermal management system market is segmented into automotive, military, and others.
Global Automotive Battery Thermal Management System Market Regional Analysis/Insights
The global automotive battery thermal management system market is analyzed, and market size insights and trends are provided by country, battery capacity, type, propulsion, technology, and vehicle type.
Some countries covered in the global automotive battery thermal management system market report are the U.S., Canada, Mexico, U.K., Germany, France, Hungary, Italy, Netherlands, Poland, Sweden, Austria, Turkey, and the rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Taiwan, Thailand, Philippines, and the rest of Asia-Pacific, South Africa, Saudi Arabia, the U.A.E., Israel, Egypt, and the rest of the Middle East and Africa.
China has emerged as the dominant country in the EV landscape. It sells the most electric vehicles, makes the most electric vehicles, and has access to the majority of raw materials needed for the batteries to build them. The U.S. is expected to lead this growth in the region. This can be attributed to the fact that the adoption of EVs in the country is on the rise; in addition, with development, battery prices are decreasing, and investments are increasing to set up battery manufacturing plants by leading automotive OEMs. Germany is expected to dominate the Europe automotive battery thermal management market on account of the established automobile industry; also, some of the leading EV battery manufacturers are in Germany, such as CATL.
The country section of the report also provides individual market-impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Automotive Battery Thermal Management System Market Share Analysis
The global automotive battery thermal management system market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, solution launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global automotive battery thermal management system market.
Some of the major players operating in the global automotive battery thermal management system market are Robert Bosch GmbH, Panasonic Holdings Corporation, Dana Limited, Hanon Systems, STMicroelectronics, Renesas Electronics Corporation, MAHLE GmbH, Infineon Technologies AG, VALEO, DENSO CORPORATION, LG Energy Solution, SAMSUNG SDI CO., LTD., Grayson Thermal Systems, Orion BMS, LEM International SA, VOSS Automotive GmbH, Continental AG, GENTHERM, Sensata Technologies, Inc, and MODINE MANUFACTURING COMPANY among others.
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