Automotive Battery Thermal Management System Market 2018 | Outlook, Growth By Top Companies, Regions
Posted: Oct 31, 2018
The global automotive battery thermal management system market was valued at USD 1.5 billion in 2017 and is anticipated to grow at a CAGR of 15.5% during the forecast period.
Automotive battery thermal management system improves performance and range of batteries in electric and hybrid vehicles. It assists in enhancing and maintaining energy storage capacity, driving range, cell longevity and system safety. The automotive battery thermal management system includes air cooling system, liquid cooling system, direct refrigerant cooling system, phase change material cooling system, and thermo-electric cooling system & heating.
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The demand for automotive battery thermal management system has increased owing to increasing adoption of electric vehicles, and growing need for improved battery performance and efficiency in electric automobiles. The increasing awareness regarding electric vehicles coupled with rising environmental concerns support the growth of the automotive battery thermal management system market. The growth in implementation of battery-driven public transport, and introduction of stringent emission norms by governments have resulted in market growth. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
Major Key Player In Global Market: -
LG Chem (South Korea)
Robert Bosch (Germany)
Calsonic Kansei (Japan)
Hanon Systems (Korea)
Samsung SDI (Korea)
VOSS Automotive (Germany)
CapTherm Systems (Canada).
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive Battery Thermal Management System Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
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Asia-Pacific generated the highest revenue in the automotive battery thermal management system market in 2017 owing to increasing demand for electric vehicles, and emerging economies of China, Japan, India, and South Korea. The strict government regulations regarding vehicular emissions, and increasing environmental concerns in the region impact the market growth.
The global automotive Battery Thermal Management System market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
- Active Battery Thermal Management System
- Passive Battery Thermal Management System
- Conventional Batteries
- Solid-State Batteries
- Passenger Vehicles
- Commercial Vehicles
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Fuel Cell Vehicles
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
Middle East and Africa.
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Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.