Automotive Battery Thermal Management System Global Market Analysis By Trends, Technological Advancement, Forecast To 2032

As per The Business Research Company's Automotive Battery Thermal Management System Opportunities And Strategies Market Report 2023, The automotive battery thermal management system market reached a value of nearly $2,626.2 million in 2022, having grown at a compound annual growth rate (CAGR) of 12.8% since 2017. The market is expected to grow from $2,626.2 million in 2022 to $6,306.2 million in 2027 at a rate of 19.1%. The market is then expected to grow at a CAGR of 18.3% from 2027 and reach $14,634.0 million in 2032.

The rapid growth in e-commerce is expected to increase and drive the demand for commercial vehicles, driving the automotive battery thermal management system market. The ecommerce sector relies heavily on logistic delivery providers who are currently being serviced by logistic companies. For instance, in India, electric vehicle manufacturers sold 121,170 units across all categories between January and July 2021, against 119,647 EVs sold in the whole of last calendar year, according to data collected by the government's 'Vahan' portal, a highly flexible and comprehensive system that takes care of all the burdensome activities of Vehicle Registration in India. According to the US Department of Commerce Retail Indicator Division, a US federal department, e-commerce sales were $870 billion in the USA in 2021, a 14.2% increase over 2020 and a 50.5% increase over 2019. Also, as part of its environmental initiatives, Walmart-owned Flipkart, an Indian e-commerce company, announced in 2020 that it will switch entirely to the use of electric vehicles (EVs) by 2030 and has joined the Climate Group's worldwide electric mobility project, EV100. Companies participating in EV100 are dedicated to hastening the switch to electric cars (EVs) and making electric transportation the norm by 2030. Therefore, the increasing e-commerce growth will drive demand for commercial EVs, contributing to the growth of the automotive battery thermal management system market.

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Automotive battery thermal management system companies are using advanced thermal interface materials to maintain the required temperature in vehicles. Materials such as gap pads, gap fillers and thermally conductive adhesives are used in automotive batteries for thermal management. For example, in May 2020, Techsil, a UK-based company specializing in industrial adhesives, sealants, tapes and dispensing equipment, launched SilCool TIA241GF silicone thermally conductive gap filler. It is ideal for applications requiring good heat transfer, minimal stress and surface wetting. It is used as a thermal interface for automobile electronic components. The SilCool TIA241GF gap filler offer a high dependability, adhesion and temperature resistance.

The top opportunities in the automotive battery thermal management system market segmented by technology will arise in the air cooling and heating segment, which will gain $1,779.3 million of global annual sales by 2027. The top opportunities in segment by battery type will arise in the conventional segment, which will gain $3,141.7 million of global annual sales by 2027. The top opportunities in segment by vehicle type will arise in the passenger segment, which will gain $3,157.0 million of global annual sales by 2027. The automotive battery thermal management system market size will gain the most in China at $742.4 million.

Automotive Battery Thermal Management System Market Segmentation:

The Automotive Battery Thermal Management System market is segmented By Technology , By Battery Type , by function and By Vehicle Type.

By Technology -
a) Liquid Cooling And Heating
b) Air Cooling And Heating
c) PCM And Other Technologies

By Battery Type -
a) Conventional
b) Solid State

By Vehicle Type -
a) Passenger
b) Commercial

Major players in the Automotive Battery Thermal Management System market include BorgWarner Inc, Robert Bosch GmbH, Hanon Systems, Valeo, Mahle GmbH.

The regions covered in the global Automotive Battery Thermal Management System market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Automotive Battery Thermal Management System Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Automotive Battery Thermal Management System Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
……
19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Automotive Battery Thermal Management Market, Conclusions And Recommendations
23. Appendix

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