Automotive Battery Thermal Management System Market Share, Growth, Size, Key Players Outlook to 2023
Posted: Mar 15, 2019
Automotive Battery Thermal Management System Market Research Report - Forecast to 2023. Global Automotive Battery Thermal Management System Market Information by Technology (Air, Liquid, Phase Change Material, Thermo electrics), Propulsion (BEV, HEV, PHEV & FCV), Battery Capacity, Vehicle Type (Passenger & Commercial) and Region.
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The increasing inclination for electric driven vehicles is expected to open up new avenues for growth in the automotive battery thermal management system market. Strict emission norms imposed by global government and regulatory authorities in terms of carbon emissions is expected to broaden the scope of development of the market in the upcoming years. The market is anticipated to gain due to the prevalence of energy efficient technology that lessens heat dissipation through an electric control unit, electric inverter, and water pump in order to recover the complete dynamics of battery thermal management system.
The automotive battery thermal management system market is segmented on the basis of technology, propulsion, battery capacity, vehicle type and region. On the basis of Technology, the market is segmented into air, phase change material, liquid and thermoelectrics. On the basis of propulsion, the market is segmented into HEV, BEV, PHEV & FCV. On the basis of battery capacity, the market is segmented into 0 – 200 KWh, 200 – 500 KWh and> 500 KWh. By vehicle type, the automotive battery thermal management system market is divided into commercial and passenger. On the basis of region, the market consists of Europe, APAC, North America and Rest of the world.
The market is segmented based on America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market in future because of government ambition plan for electric vehicles. For instance, Chinese companies, such as BYD Co. and BAIC Motor Corp., and Japanese companies, such as Nissan and Mitsubishi, are investing huge amount money on electric vehicles. America market is second to the Asia Pacific market in battery thermal management system. Thus, the automotive battery thermal management system market is estimated to grow at approximately 16% CAGR during the period 2017-2023.
The key players in automotive battery thermal management system market are LG Chem (South Korea), Continental (Germany), GenTherm (U.S.), Robert Bosch (Germany), Valeo (France), Calsonic Kansei (Japan), DANA (U.S.), Hanon Systems (Korea), Samsung SDI (Korea), Mahle (Germany), VOSS Automotive (Germany), and CapTherm Systems (Canada), among others.
The development in the products and services is the leading factor escalating the market's output and directing the trends that are attaining distinction in the market. The variances in the market are filled due to the implementation of apt supply chain strategies. The amplified level of emphasis on the variety of products is growing the number of customers in the market substantially. The crucial success factors and competitors’ tendencies are progressively rising by the strategies being used by market competitors. The differences seen in terms of strategy execution and creation are changing the growth pace of the market. The evolution patterns are reviewed in tandem to the customer likings to realize the greatest growth, and in the long run, viability. The background for growth plans has fortified the market for prospective new entrants. The fruitful integration of supply chain management is progressively increasing the development of the market.
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At Market Research Future (Mrfr), we enable our customers to unravel thec omplexity of various industries through our Cooked Research Report (Crr), Half-Cooked Research Reports (Hcrr).