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.
Get Free Sample Report in PDF Format @ https://www.marketresearchfuture.com/sample_request/5728
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.
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.
New Business Strategies, Challenges & Policies are mentioned in Table of Content, Inquire Now (Kindly Use Your Business/Corporate Email Id) @ https://www.marketresearchfuture.com/enquiry/5728
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.
Don't miss out on business opportunities in Market. Buy Now and gain crucial industry insights that will help your business grow @ https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=5728
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]
The worldwide Automotive Battery Thermal Management System Market is anticipated to reach around USD 5.4 billion by 2026, according to a new research published by Polaris Market Research.
The passenger car dominated the global Automotive Battery Thermal Management System market in 2017.
In 2017, Asia-Pacific accounted for the majority share in the global automotive battery thermal management system market.
The significant increase in demand for electric vehicles, and rising need to improve battery performance and efficiency of electric vehicles boosts the demand for automotive battery thermal management system.
The awareness regarding use of electric vehicles has increased significantly, especially in the Asia-Pacific region.
The increasing awareness among consumers regarding use of eco-friendly vehicles coupled with rising adoption of advanced Lithium-Ion batteries fuels the growth of the automotive battery thermal management system market.
