A recent report published by Infinium Global Research on automotive battery thermal management system market provides an in-depth analysis of segments and sub-segments in the global as well as regional automotive battery thermal management system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive battery thermal management system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive battery thermal management system market. According to the report, the global automotive battery thermal management system market is projected to grow at a CAGR of 23.3% over the forecast period of 2018-2024.
Electric vehicles (EV) develop fast and have become popular due to their zero emission and high tank-to-wheels efficiency. The management of batteries is necessary in order to reach maximum performance when operating at various conditions. The Battery Thermal Management System (BTMS) plays a vital role in controlling the thermal behavior of battery cells. The performance and life of the battery system of electric vehicles are affected by the surrounding temperature. Thus, battery thermal management systems are generally integrated with battery cells. The battery thermal management system maintains the battery temperature, at which the battery output is optimum. BTMS is a combination of both hardware and software and depending upon the operating conditions it should be customized either for cooling, heating or insulating.
Battery thermal management systems are an essential part of electric vehicles only. The demand for electric vehicles is increasing due to its applications such as increase energy security, improve fuel economy, lower fuel costs, and reduce emissions. The increasing use of electric vehicles drives the automotive battery thermal management system market. Increased environmental concern, increased awareness about global temperature rise, stringent emission norms imposed by governing bodies, and international agreements for reducing pollution from the transportation industry are fueling the demand for electric vehicles. Battery thermal management system is a complex system that hampers the market. Electric vehicles are relatively more expensive than fuel-powered vehicles. Lack of electric vehicle charging infrastructure is a key restraint of the electric vehicle market, which in turn is also, hampers the automotive battery thermal management system market. Increase in a number of advanced technologies being incorporated into vehicles is boosting the workload on the batteries, which in turn leads to reduced efficiency, performance, and lifespan of batteries.
Among the geographies, Asia Pacific is expected to dominate the global automotive battery thermal management system market. In this region, owing to the presence of key countries such as China, Japan, India, and South Korea which constitutes the highest sales of electric and hybrid vehicles globally. Chinese and Japanese companies are investing a huge amount of money on electric vehicles. Manufacturers concern toward electric vehicles, government support, shifted preference of consumers toward electric vehicles, and stringent emission norms are fueling the penetration of electric vehicles across China and Japan. India is among the emerging markets for electric vehicles.
The report on global automotive battery thermal management system market covers segments such as system type, technology, battery type, battery capacity, and electric vehicle type. On the basis of system type, the sub-markets include active and passive. On the basis of technology, the sub-markets include liquid cooling and heating, PCM, and air cooling and heating. On the basis of battery type, the sub-markets include solid state, and conventional. On the basis of battery capacity, the sub-markets include 12V, 14V, and 24V, 48V and above. On the basis of electric vehicle type, the sub-markets include hybrid electric vehicles (HEV), battery electric vehicles (BEV), and plug-in hybrid electric vehicles (PHEV).
The report provides profiles of the companies in the market such as Valeo SA, Hanon Systems, SAMSUNG SDI CO., LTD, VOSS Automotive GmbH, MAHLE GmbH, Dana Limited., Gentherm Incorporated, Calsonic Kansei Corporation, Robert Bosch GmbH, and Continental AG, other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive battery thermal management system market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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