Press Release, 22 January 2025
The automotive battery thermal management system market forecast for 2034 is a specialized study of the industry with a specific concentration on the global market trend analysis.
According to an exhaustive report by Polaris Market Research, the global automotive battery thermal management system market is poised for significant growth over the next decade. In 2024, global sales income reached USD 3,350.57 million. Predicted to boost at a robust CAGR of 14.6%, the market is estimated to reach USD 15,265.63 million by 2034.
๐๐ก๐๐ญ ๐๐ฌ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐ก๐๐ซ๐ฆ๐๐ฅ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐ฒ๐ฌ๐ญ๐๐ฆ?
The BTMS assists in sustaining a battery pack at its maximal temperature range of 20 to 45 degrees Celsius, irrespective of atmospheric temperature. For each vehicle outline, the needed presentation and cycle life of the battery pack will be contemplated to decide the particular set point for the battery pack temperature.
In cold atmospheric conditions, the battery pack may be required to be warmed to ease charging or preconditioning and acquiring of the pack temperature to be of perfect range. The growing demand for electric vehicles is impacting the automotive battery thermal management system market growth favorably.
๐๐ก๐จ ๐๐๐ค๐๐ฌ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐ก๐๐ซ๐ฆ๐๐ฅ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐ฒ๐ฌ๐ญ๐๐ฆ?
The market research report circumscribes exhaustive vendor share research for all prominent market contenders. The market is excessively aggressive and has the existence of a massive amount of compact and huge vendors. Here are some of the leading players in the automotive battery thermal management system market:
โข Robert Bosch GmbH
โข Dana Incorporated
โข LG Chem.
โข Calsonic Kansei Corporation
โข Continental AG
โข Gentherm Incorporated
โข VOSS Automotive
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฅ๐๐ญ๐๐ฌ๐ญ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
โข In February 2024, Betterfrost declared an association with DENSO and the Ontario Vehicle Innovation Network. With the association, Betterfrost targets to enhance the ranges of its EVs in excessive cold or heat.
โข In February 2024, Modine embarked on a decisive agreement for the obtaining of Scott Springfield Manufacturing. Through this accession the company targets to obtain its line of commodities by involving air handling units.
๐๐ก๐๐ญโ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐
๐จ๐ซ๐ฐ๐๐ซ๐?
Technological Progressions: Growing concentration on technological progressions, surging acquisition of progressive lithium-ion batteries, and escalating application of battery-pushed public conveyance are the critical market trends expected to drive the market growth.
Growing Acquisition of EVs: The growing acquisition of EVs is propelling the market forward by involving the productive handling of EV batteries. With more consumers opting for EVs for ecological advantages and government enterprises and policies push their demand which in turn is having a favourable impact on automotive battery thermal management system market sales.
Surge In Urbanization: Many regions globally are encountering growing urbanization, with more people shifting to cities. This move from urban areas is powered by speedy industrialization and growing work possibilities in urban areas.
๐๐ก๐ข๐๐ก ๐๐๐ ๐ข๐จ๐ง ๐๐๐๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก?
Asia Pacific: Asia Pacific accounted for the largest automotive battery thermal management system market share. The region’s robust growth is primarily due to the elevated acquisition of EVs in prominent nations such as China.
Europe: Europe is anticipated to witness significant growth from 2025 to 2034. This can be attributed to the existence of many spearheading market contenders and prominent automobile firms.
๐๐๐จ๐ฎ๐ญ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก & ๐๐จ๐ง๐ฌ๐ฎ๐ฅ๐ญ๐ข๐ง๐ , ๐๐ง๐:
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 PMRโs clientele spread across different enterprises. We at Polaris are obliged to serve PMRโs diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMRโs customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMRโs customers.
