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Automotive Battery Thermal Management System Global Market Report 2022

ReportLinker
ReportLinker

Major players in the automotive battery thermal management system market are Calsonic Kansei Corporation, CapTherm Systems Inc. , Continental AG, Dana Limited, GENTHERM, Hanon Systems, LG Chem Ltd. , MAHLE GmbH, Robert Bosch GmbH, SAMSUNG SDI Co LTD, Valeo, Grayson, BorgWarner, Modine Manufacturing Company, Orian BMS, Panasonic Corporation, Renesas Electric Corporation, Tesla, TOSHIBA CORPORATION, Grayson, and Denso Corporation.

New York, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Battery Thermal Management System Global Market Report 2022" - https://www.reportlinker.com/p06325396/?utm_source=GNW


The global automotive battery thermal management system market is expected to increase from $2.15 billion in 2021 to $2.59 billion in 2022 at a compound annual growth rate (CAGR) of 20.4%. The automotive battery thermal management system market is expected to reach $4.95 billion in 2026 at a CAGR of 17.6%.

The automotive battery thermal management system market consists of sales of automotive battery thermal management systems by entities (organizations, sole traders, and partnerships) that are used to prevent accelerated battery deterioration by controlling and managing the heat generated by the automobile components, also to ensure continuous functionally of components at optimum temperature. An automotive battery thermal management system refers to a device that are used to manage heat generated in battery cells during the electrochemical process and safe and efficient working of batteries.

The main types of technologies adopted by automotive battery thermal management systems include PCM, liquid cooling and heating, and air cooling and heating.The PCM refers to the heart of a Li-Ion battery pack as the PCM or PCB (protection circuit module or board).

PCM safeguards Li-Ion battery packs from overcharging, over-discharging, and over-draining, therefore it is widely used to prevent Li-Ion battery packs from exploding, firing, or being damaged.The automotive battery thermal management systems are used in two types of batteries including the conventional and solid state.

They are used in both passenger and commercial vehicles.

Asia Pacific was the largest region in the automotive battery thermal management system market in 2021, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive battery thermal management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The automotive battery thermal management system market research report is one of a series of new reports that provides Automotive battery thermal management system market statistics, including Automotive battery thermal management system industry global market size, regional shares, competitors with an automotive battery thermal management system market share, detailed automotive battery thermal management system market segments, market trends and opportunities, and any further data you may need to thrive in the automotive battery thermal management system industry. This automotive battery thermal management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rise in demand for electric vehicles is expected to propel the growth of automotive battery thermal management system market going forward.Rise in fuel prices, carbon emissions, and many other factors are mutually contributing towards rapid growth in adoption of electric vehicles across the globe.

The rapid growth in demand for electric vehicles is expected to boost the utilization of automotive battery thermal management systems, as they are widely used for safe and effective functioning of the vehicle.For instance, according to the news article published by the Economic Times in 2021, the demand for the electric vehicles will increase up to 15 times in the coming 6 months and the demand will be driven by the increase in fuel prices and also the incentives rolled out by the state government and central government.

Leading e-commerce companies are beginning to consider electrifying delivery vehicles and ordering new products as the government actively promotes the use of e-mobility to reduce crude oil imports and reduce vehicle pollution. Therefore, rise in demand for electric vehicles is expected to boost the demand for automotive battery thermal management systems during the forecast period.

Innovative solutions based on thermoelectric technology is a key trend gaining popularity in the automotive battery thermal management system market.Major companies in the automotive battery thermal management system market are advancing in their new technologies and research and development of the automotive battery thermal management system to meet industry demands and strengthen their business position.

For instance, in May 2022, Modine Manufacturing Company, a USA-based manufacturer of thermal management solutions launched Evantage Thermal Management systems for commercial chassis. Evantage BTMS optimizes the temperature range for the entire range of batteries with a single unit, while minimizing power draw.

In June 2019, Enterex, a Taiwan-based manufacturer of radiators for automobiles and heavy-duty trucks, acquired Behr Service Polska (BSPL) for an undisclosed amount.Through this acquisition, Enterex aims to enhance its capabilities in the battery thermal management solutions for automobiles.

BSPL is a Poland-based company specializing in providing customized thermal management solutions and enabling the transition towards sustainable mobility.

The countries covered in the automotive battery thermal management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06325396/?utm_source=GNW

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