Press release
Automotive Battery Thermal Management System Market to Reach US$ 7.07 Bn by 2030, Growing at 16.05% CAGR
Automotive Battery Thermal Management System Market
The global automotive battery thermal management system (BTMS) market is projected to grow from USD 3.20 billion in 2024 to USD 14.66 billion by 2032, registering a CAGR of 20.9% during the forecast period. This growth is driven by the increasing adoption of electric vehicles (EVs) and the need for efficient thermal management systems to enhance battery performance and longevity.
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► Competitive Landscape and Regional Demand
Key players in the BTMS market include MAHLE GmbH, Valeo, Hanon Systems, Gentherm Inc., Dana Limited, Continental AG, LG Chem, Samsung SDI Co., Ltd., Calsonic Kansei Corporation (Marelli Corporation), and Robert Bosch GmbH. These companies are focusing on product innovation and strategic partnerships to strengthen their market position.
► Regional Insights:
Growth Opportunities in the United States :
The U.S. market is experiencing significant growth due to increased investments in EV infrastructure and supportive government policies. The presence of major automotive manufacturers and technological advancements are further propelling the demand for advanced BTMS solutions.
Trends in Asia Pacific :
Asia Pacific holds the largest market share, accounting for 46.55% in 2023. The region's growth is attributed to the high adoption of EVs in countries like China, Japan, South Korea, and India. Government initiatives, subsidies, and investments in EV infrastructure are key factors driving the BTMS market in this region.
Consolidation in Europe :
Europe is witnessing consolidation in the BTMS market, with Germany leading in terms of revenue. The region's focus on reducing vehicle emissions and promoting sustainable transportation is encouraging the adoption of efficient thermal management systems. The UK and other European countries are expected to emerge as fast-growing markets during the forecast period.
Updation in the Middle East and Africa :
The Middle East and Africa are gradually adopting BTMS solutions, driven by the growing inclination towards research and development and expanding manufacturing units. Africa is expected to grow at a high CAGR of 15.11% from 2023 to 2032, indicating significant market potential in the region.
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► key Developments:
MAHLE GmbH announced a strategic partnership with a leading EV manufacturer to develop advanced BTMS solutions.
Valeo introduced a new BTMS technology aimed at enhancing battery efficiency and lifespan.
Hanon Systems expanded its production facilities in Asia to meet the growing demand for BTMS components.
► Market Segmentation: In-Depth Analysis:
by Propulsion
Battery Electric Vehicle (BEV)
Fuel Cell Electric Vehicle (FCEV)
Plug-In Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
by Electric Battery Capacity
500 kWh
by Vehicle Type
Passenger Vehicle
Commercial Vehicle
The global market for automotive battery thermal management systems is expanding due to electric vehicles. The global automotive battery thermal management system market is expanding due to declining oil reserves and investments in charging infrastructure.
by Battery Type
Conventional
Solid State
by Technology
Active
Passive
Over the course of the projected period, the active technology category is anticipated to increase rapidly. The long lifespan, improved performance, and increased efficiency of the energy technology battery heat management system are responsible for this expansion.
◙ For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/global-automotive-battery-thermal-management-system-market/2461/
► Learn about the top players driving innovation in the Market :
1. LG Chem, Ltd.
2. Continental
3. Robert Bosch
4. Gentherm
5. Calsonic Kansei
6. Valeo
7. Dana
8. Hanon Systems
9. Mahle GmbH
10.Voss Automotive GmbH
11.Samsung SDI Company Limited
12.Captherm Systems, Inc.
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