The latest report on Automotive Battery Thermal Management System Market by Infinium Global Research gives complete coverage of the automotive battery thermal management system market by system type (active, passive), technology (air cooling and heating), battery type (solid-state, conventional), battery capacity (12V, 14V, 24V and 48V above), electric vehicle type (hybrid, plug-in hybrid electric vehicles) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of automotive battery thermal management systems such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Battery Thermal Management System Maintains the Battery Temperature, at Which the Battery Output is Optimum
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.
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Electric Vehicle Charging Infrastructure Is A Key Restraint of the Electric Vehicle Industry
A 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. An 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.
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- Comprehensive analysis of global as well as regional markets of the automotive battery thermal management system.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.