Electric Vehicle Liquid Cooling Plates (LCP) Market to Reach USD 5.39 Billion by 2031, Growing at 16.8% CAGR

Los Angeles, United State: A newly published report titled "Global Electric Vehicle Liquid Cooling Plates (LCP) Market Insights, Forecast 2025 to 2031" by QY Research throws light on the industry dynamics and current and future trends that play a key role in determining the business expansion. The Electric Vehicle Liquid Cooling Plates (LCP) report also highlights the key driving factors and restraints that are impacting the growth. For a comprehensive understanding, the professionals have reviewed the regulatory scenario, market entry strategies, best industry practices, pricing strategy, technology landscape, and consumption, sales, and demand outlook.

The global Electric Vehicle Liquid Cooling Plates (LCP) market was valued at US$ 1.76 billion in 2024 and is anticipated to reach US$ 5.39 billion by 2031, witnessing a CAGR of 16.8% during the forecast period 2025-2031.

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The battery liquid cooling plate is a component in the battery thermal management system that directly exchanges heat with the battery. The liquid cooling plate is a product component of the liquid cooling radiator. Its heat dissipation principle is to form a flow channel in the metal plate. The electronic components are installed on the surface of the water cooling plate and coated with a heat-conducting medium in between. The internal coolant enters from the inlet of the plate and then takes away the heat conducted by the components from the outlet.

According to the different shapes and structures, the common liquid cooling plates in the market are mainly harmonica tube type, stamping type, extrusion type, inflation type and other types. In the field of new energy vehicles, the battery liquid cooling plate is a component in the battery thermal management system that directly exchanges heat with the battery. The coolant in the liquid cooling plate flow channel transfers the heat generated by the battery to the cooling device or transports the heat to the battery through the coolant, so as to maintain the battery temperature in the range of 20°C-35°C that is most suitable for its working efficiency.

The liquid cooling plate for new energy vehicle (NEV) batteries is a critical component in thermal management systems. Typically made of metals (e.g., aluminum alloy) or composites, it features internal microchannels that circulate coolant (e.g., water-glycol mixtures) to absorb and dissipate heat generated during battery charging/discharging. This ensures the battery operates within an optimal temperature range (20-40°C), enhancing performance, safety, and longevity.

Featured Companies: -

Valeo
Dana
MAHLE
Modine Manufacturing
Boyd Corporation
Nippon Light Metal
ESTRA Automotive
Sogefi Group
ONEGENE
Nabaichuan Holding
Runthrough Heat Exchange
Yinlun
Sanhua Group
Cotran
Trumony Aluminum
Hubei Reddit Cooling System
Shenzhen FRD
Anhui ARN Group
XD THERMAL
Hengchuang Thermal Management

Future Trends -

1. Lightweight & High Thermal Conductivity Materials: Adoption of aluminum composites, graphene coatings, or 3D-printed structures to optimize weight and heat dissipation.

2. Integrated Design: Deep integration with battery modules (e.g., CTP/CTC technologies) to reduce complexity and improve space efficiency.

3. Smart Thermal Management: AI-driven control systems with sensors enable dynamic zonal temperature regulation, supporting ultra-fast charging (e.g., 800V platforms) and extreme conditions.

4. Sustainability: Shift toward recyclable materials and eco-friendly coolants (e.g., propylene glycol replacing ethylene glycol).

5. Multifunctional Systems: Synergy with heat pumps to reuse energy for both battery heating (in winter) and cooling (in summer).

6. Cost Reduction via Scale: Automated and standardized manufacturing processes will lower costs as NEV adoption accelerates globally.

BEVs will lead the zero-emission future with PHEVs as a transitional bridge, while FCEVs and HEVs carve niche roles. Success hinges on battery innovation, infrastructure investment, and policy alignment.

From the perspective of product type and technology, it can be divided into harmonica tube type, stamping type and inflation type. The harmonica tube liquid cooling plate has the advantages of arbitrary flow channel design, large contact area, good heat exchange effect, high production efficiency, good pressure resistance and strength, but because it needs to be molded, the cost is high, and the flatness requirements are high, and the installation is difficult. However, due to its soft material, it has a large shortcoming in pressure resistance and strength. Its flow channel is single, the contact area is small, and the pipe wall is thin, resulting in its general heat exchange effect and poor load-bearing capacity. It is expected that the harmonica tube type will be gradually eliminated. The stamping liquid cooling plate has excellent heat dissipation performance: complex flow channels are formed through the stamping process, the heat dissipation area is large, and the temperature distribution is uniform. The thin-wall design reduces the amount of material used and is suitable for lightweight requirements. The flow channel can be customized to adapt to different battery module shapes (such as CTP/CTC technology). It is the mainstream technical direction, especially widely used in high-performance BEV and fast charging scenarios. The inflatable liquid cooling plate forms a complex internal flow channel through the inflating process, and the heat dissipation path is optimized. Due to the low yield rate and high cost of the inflating process, and the integrated design makes it difficult to repair after local damage, it is currently mainly used in high-end models and customized battery packs.

From the perspective of product market application, pure electric vehicles are the main force in the market. In 2024, pure electric vehicle applications accounted for more than 70% of the battery cooling plate application share. Pure electric vehicles will lead the zero-emission future, plug-in hybrid electric vehicles will become a transition bridge, and fuel cell electric vehicles and hybrid electric vehicles will occupy their respective market segments. Success depends on battery innovation, infrastructure investment and policy coordination.

Currently, the world's major manufacturers include Valeo, MAHLE, Yinlun Holdings, Sanhua Auto Parts, Nabaichuan, Dana, Boyd Corporation, Cotran, Modine Manufacturing, ESTRA Automotive, ONEGENE, Hubei Reddit Cooling System, Trumony Aluminum, Runthrough Heat Exchange, Shenzhen FRD, XD THERMAL, Anhui ARN Group, Hengchuang Thermal Management, Sogefi Group, Nippon Light Metal, etc. In 2024, the market share of major manufacturers will exceed 60%. It is expected that industry competition will become more intense in the next few years, especially in the Chinese market.

Why This Report is a Must-Have -

> Historical Analysis (2020-2024) & Forecasts (2025-2031): Gain a clear understanding of market trends and future growth potential.

> Comprehensive Market Segmentation: Detailed breakdown by Type, Application, and Region to identify lucrative opportunities.

> Competitive Landscape: Insights into key players, their market share, and strategic developments like mergers, acquisitions, and expansion plans.

> Drivers & Restraints: Understand the factors shaping the market's growth and the challenges that could impact your strategy.

> Expert Opinions & Market Dynamics: Benefit from expert analysis to navigate market risks and capitalize on emerging trends.

Detailed of Electric Vehicle Liquid Cooling Plates (LCP) Market Segmentation: -

Segmentation By Type :-

Harmonica Tube Type
Stamping Type
Inflatable Type

Segmentation By Application : -

Battery Electric Vehicles (BEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Others

Electric Vehicle Liquid Cooling Plates (LCP) Market Regional Insights -

United States

-Canada
-Mexico
-Brazil

APAC

-Japan
-South Korea
-China
-ASEAN
-India

EMEA

-Europe
-Middle East
-Africa

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What You'll Gain from This Report -

> In-Depth Regional Analysis: Explore market potential across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

> Competitive Intelligence: Profiles of key players, including their sales, revenue, product portfolios, and recent developments.

> Market Dynamics: Understand the latest trends, driving factors, and risks impacting the industry.

> Actionable Insights: Make informed business decisions with data-driven strategies and forecasts.

How Can the Research Study Help your Business?

(1) The information presented in the Electric Vehicle Liquid Cooling Plates (LCP) report helps your decision makers to become prudent and make the best business choices.

(2) The report enables you to see the future of the global Electric Vehicle Liquid Cooling Plates (LCP) market and accordingly take decisions that will be in the best interest of your business.

(3) It offers you a forward-looking perspective of the global Electric Vehicle Liquid Cooling Plates (LCP) market drivers and how you can secure significant market gains in the near future.

(4) It provides SWOT analysis of the global Electric Vehicle Liquid Cooling Plates (LCP) market along with useful graphics and detailed statistics providing quick information about the market's overall progress throughout the forecast period.

(5) It also assesses the changing competitive dynamics of the global Electric Vehicle Liquid Cooling Plates (LCP) market using pin-point evaluation.

This Electric Vehicle Liquid Cooling Plates (LCP) Market Research Report Contains Answers to your following Questions -

(A) Which Manufacturing Technology is Used for Electric Vehicle Liquid Cooling Plates (LCP)? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?

(B) Who Are the Global Key Players in This Electric Vehicle Liquid Cooling Plates (LCP) Market? What's Their Company Profile, Their Product Information, and Contact Information?

(C) What Was Global Market Status of Electric Vehicle Liquid Cooling Plates (LCP) Market? What Was Capacity, Production Value, Cost and PROFIT of Electric Vehicle Liquid Cooling Plates (LCP) Market?

(D) What Is Current Market Status of Electric Vehicle Liquid Cooling Plates (LCP) Industry? What's Market Competition in This Industry, Both Company, and Country Wise? What's Market Analysis of Electric Vehicle Liquid Cooling Plates (LCP) Market by Taking Applications and Types in Consideration?

(E) What Are Projections of Global Electric Vehicle Liquid Cooling Plates (LCP) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?

(F) What Is Electric Vehicle Liquid Cooling Plates (LCP) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?

(G) What Is Economic Impact On Electric Vehicle Liquid Cooling Plates (LCP) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?

(H) What Are Market Dynamics of Electric Vehicle Liquid Cooling Plates (LCP) Market? What Are Challenges and Opportunities?

(I) What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Electric Vehicle Liquid Cooling Plates (LCP) Industry?

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Electric Vehicle Liquid Cooling Plates (LCP) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Sales, revenue of Electric Vehicle Liquid Cooling Plates (LCP) in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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