Global Automotive Battery Thermal Management System Market Demand to Rise for Tackling Performance Issues in EVs

 

Battery thermal management system (BTMS) is integrated within electric vehicles for increasing the life of lithium-ion battery cells. Evolution of electric vehicles coupled with stringent norms for controlling emissions can make it mandatory for attaching BTMS with powertrain. Market Research Future’s report on the global automotive battery thermal management system market emphasizes on drivers and challenges to be faced by automakers for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its implications on the industry are explored in the report.

Market Scope

The automotive battery thermal management system market is estimated to grow at approximately 16% CAGR during the forecast period. The production of electric vehicles as a viable substitute to fuel-driven vehicles can contribute to the market demand. Performance of EVs and hybrid electric vehicles and lifespan of batteries can bode well for the market. BTMS can determine the acceleration of EVs and displays the battery health for optimum driving conditions.

Get a FREE Report Sample -  https://www.marketresearchfuture.com/sample_request/6063

Awareness of emission norms, subsidies for purchase of EVs, and development of thermoelectric coolers can drive the automotive BTMS market. The quiet and reliable nature of thermoelectric coolers can convert heat into electricity with ease ensuring the smooth functioning of EVs. The liquid coolant in these coolers can remove heat during active operations and several simulations are conducted of these systems to ensure their precision. Moreover, the shift from internal combustion engines to electric vehicles can work in favor of the market.

Segmentation

By vehicle type, it is divided into commercial and passenger. The latter is expected to dominate the global automotive battery thermal management system market owing to popularity of EVs and subsidies provided by nations to assure its sales. On the other hand, the commercial vehicle segment can capture a significant market share due to demand for lightweight trucks and battery-driven buses.

By technology, it is segmented into thermo electric, phase change material (PCM), air system, and liquid system. Air system and liquid system segments are projected to lead in the market till the end of the forecast period.

By propulsion, it is segmented into PHEV, BEV, HEV, and FCV. The BEV segment is likely to lead in the market. This is attributed to maximum subsidies offered for these vehicles and increasing number of BEVs offered by automotive manufacturers. Dip in battery prices and decreased battery charging times can boost the segment demand in the global automotive BTMS market.

Regional Analysis

The market is segmented based on America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to dominate the market by the end of the forecast period due to government plans for electric vehicles. For instance, Chinese companies such as BYD Co. and BAIC Motor Corp., and Japanese companies, such as Nissan and Mitsubishi, are investing huge amount money on electric vehicles.  Incentives given to customers and electrification of transportation modes can bode well for the market.

Americas has assumed the second position in the global battery thermal management system. Adoption of lithium-ion batteries is expected to facilitate market demand over the forecast period. Recently, Hyundai Kona Electrics has decided to include heat pump systems for converting heat into power for its EV driving customers in the U.S.

Competitive Landscape

Mahle, Robert Bosch, Calsonic Kansei, CapTherm Systems, Hanon Systems, Continental, VOSS Automotive, Valeo, GenTherm, DANA, Samsung SDI, and LG Chem are major manufacturers of the global automotive battery thermal management system market.

Get a FREE Report Sample -  https://www.marketresearchfuture.com/sample_request/6063

Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

 

1 EXECUTIVE SUMMARY

 

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

 

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

 

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com

 

Browse Complete Report- https://www.marketresearchfuture.com/reports/automotive-thermal-management-system-market-6063