Electric Vehicle Battery Thermal Management System Market Key Trends, Top Manufacturers, and Competitive Strategies

Global electric vehicle battery thermal management system market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The electric vehicle battery thermal management system (EV-BTMS) plays an important role in the control of battery thermal behavior and is integrated with battery cells. It helps to maintain battery cells in an active state while providing the necessary power efficiently.

The factors that are playing a major role in the growth of electric vehicle battery thermal management system market are the rise in development of enhanced electric vehicles battery, the rising awareness regarding global temperature rise, the rising demand for electric vehicles, and the government initiative by offering subsidies and incentives. However, the presence of substitutes and lack of awareness regarding the benefits of electric vehicles and its impact on the environment may restrain the overall market growth in the years to come. Electric vehicle battery thermal management system market is segmented based on battery type, technology, capacity, propulsion, vehicle type, and region.

Solid-state and conventional are the battery types that are explored in the market. Based on technology, electric vehicle battery thermal management system is segmented into active and passive. The active sector accounted for the substantial market share of electric vehicle battery thermal management system. The reason could be the long life from active technology, enhanced battery performance and raised efficacy.

Based on the electric battery capacity, >500 kWh, 200-500 kWh, 100-200 kWh, and <100 kWh classify electric vehicle battery thermal management system market. The <100 kWh sector accounted for the substantial market share of electric vehicle battery thermal management system and is estimated to lead overall market in the years to come. The reason could be the rising use of fully electric, plug-in hybrid, and hybrid vehicle.

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Based on the propulsion, FCV, battery electric vehicle (BEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), and others classify electric vehicle battery thermal management system market. The battery electric vehicle (BEV) sector accounted for the substantial market share of electric vehicle battery thermal management system and is estimated to lead overall market in the years to come.

Vehicle types such as commercial and passenger vehicles classify electric vehicle battery thermal management system. The passenger vehicles sector accounted for significant market share of electric vehicle battery thermal management system and is estimated to continue its dominance in the years to come.

Globally, Asia Pacific accounted for the substantial market share of electric vehicle battery thermal management system and is estimated to lead the overall market in the years to come. The reason behind overall market growth could be the increasing sales of electric vehicles in the countries like Japan and China, strict fuel emissions norms, and the presence of key suppliers and automakers in the region. The developing countries like India and China are the major consumers of electric vehicle battery thermal management system in this region. The aspects that may be ascribed to the growth comprise the developing automotive sector in these regions.

North America and Europe are also estimated to have a positive influence on future growth. North America is a larger market with significant market share. The United States is a major consumer of electric vehicle battery thermal management system in this region. The reason could be the rising concern regarding air pollution. However, Europe is estimated to grow at the higher CAGR in the forecast period.

The key players of electric vehicle battery thermal management system market are CapTherm Systems, LG Chem, CapTherm Systems, Continental, VOSS Automotive, GenTherm, Mahle, Robert Bosch, Samsung SDI, Valeo, Hanon Systems, and Calsonic Kansei. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

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