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Automotive Battery Thermal Management System Market 2023 Competitive Landscape, Future Outlook, Latest Trends And Forecast To 2032 | Major Players Are Calsonic Kansei Corporation, CapTherm Systems Inc., Continental AG, Dana Limited, GENTHERM
Automotive Battery Thermal Management System Market
The Business Research Company's Automotive Battery Thermal Management System Global Market Report 2023 identifies rise in demand for electric vehicles as the major driver for the Automotive Battery Thermal Management System Market's growth in the forecast period. 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.
The global automotive battery thermal management system market size grew from $2.63 billion in 2022 to $3.18 billion in 2023 at a compound annual growth rate (CAGR) of 21.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive battery thermal management system market size is expected to grow to $6.31 billion in 2027 at a CAGR of 18.7%.
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Major competitors 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.
A key trend in the Automotive Battery Thermal Management System Market includes Innovative solutions. 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 US-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.
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The Automotive Battery Thermal Management System Market is segmented -
By Technology: PCM, Liquid Cooling and Heating, Air Cooling and Heating
By Battery Type: Conventional, Solid State
By Vehicle Type: Passenger, Commercial
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Battery Thermal Management System Market.
The Business Research Company's "Global Automotive Battery Thermal Management System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Battery Thermal Management System Market Include:
1. Executive Summary
2. Automotive Battery Thermal Management System Market Characteristics
3. Automotive Battery Thermal Management System Market Trends And Strategies
4. Automotive Battery Thermal Management System Market - Macro Economic Scenario
5. Automotive Battery Thermal Management System Market Size And Growth
……
26. Africa Automotive Battery Thermal Management System Market
27. Automotive Battery Thermal Management System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Battery Thermal Management System Market
29. Automotive Battery Thermal Management System Market Future Outlook and Potential Analysis
30. Appendix
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