Global Automotive Battery Thermal Management System Market

New York, Oct. 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the “Automotive Battery Thermal Management System Global Market Report 2022” – https://www.reportlinker.com/p06325396/?utm_source=GNW

The global market for automotive battery thermal management systems is expected to grow from $2.15 billion in 2021 to $2.59 billion in 2022 at a compound annual growth rate (CAGR) of 20.4%. The automotive battery thermal management systems market is expected to reach $4.95 billion in 2026 with a CAGR of 17.6%.

The automotive battery thermal management systems market includes sales of automotive battery thermal management systems by entities (organizations, individual traders, and partnerships) that are used to prevent accelerated deterioration of batteries by controlling and managing the heat generated by automotive components, also to ensure continuous operation of components at optimum temperature. An automotive battery thermal management system refers to a device used to manage the heat generated in battery cells during the electrochemical process and the safe and efficient operation of batteries.

The main types of technologies adopted by automotive battery thermal management systems include PCM, liquid cooling and heating, and air cooling and heating. ).

PCM protects Li-Ion batteries from overcharging, over-discharging and over-draining, so it is widely used to prevent Li-Ion batteries from exploding, firing or being damaged. Automotive battery thermal management systems are used in two types of batteries, including conventional and solid state.

They are used in both passenger vehicles and commercial vehicles.

Asia-Pacific was the largest region in the automotive battery thermal management system market in 2021, and it is also expected to be the fastest growing region during the forecast period. Regions covered in Automotive Battery Thermal Management System market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America South, the Middle East and Africa.

The Automotive Battery Thermal Management System Market research report is one of a series of new reports that provide statistics on the Automotive Battery Thermal Management System market, including global market size. Automotive Battery Thermal Management System industry, regional shares, competitors with Automotive Battery Thermal Management System market share, detail Automotive Battery Thermal Management System market segments, trends and market opportunities, and any other data you may require to thrive in the Automotive Battery Thermal Management System industry. This Automotive Battery Thermal Management System Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Rising demand for electric vehicles is expected to propel the growth of the automotive battery thermal management systems market. Rising fuel prices, carbon emissions and many other factors are mutually contributing to the rapid growth in the adoption of electric vehicles across the world.

The rapid growth in demand for electric vehicles is expected to boost the use of automotive battery thermal management systems, as they are widely used for safe and efficient vehicle operation. For example, according to the news article published by the Economic Times in 2021, demand for electric vehicles will increase up to 15 times over the next 6 months and demand will be driven by rising fuel prices as well as incentives rolled out by the state government and the central government.

Major e-commerce companies are starting to consider electrifying delivery vehicles and ordering new products as the government actively promotes the use of e-mobility to reduce crude oil imports and reduce vehicle pollution . Hence, increasing demand for electric vehicles is expected to drive the demand for automotive battery thermal management systems over the forecast period.

Innovative solutions based on thermoelectric technology are a key trend that is gaining popularity in the automotive battery thermal management system market. Leading companies in the Automotive Battery Thermal Management System market are advancing their new technologies and research and development of the Automotive Battery Thermal Management System to meet industry requirements and strengthen their market position.

For example, in May 2022, Modine Manufacturing Company, an American manufacturer of thermal management solutions, launched the Evantage thermal management systems for commercial chassis. Advantage BTMS optimizes the temperature range for the entire range of batteries with a single unit, while minimizing power consumption.

In June 2019, Enterex, a Taiwanese manufacturer of car and truck radiators, acquired Behr Service Polska (BSPL) for an undisclosed amount. With this acquisition, Enterex aims to strengthen its capabilities in automotive battery thermal management solutions.

BSPL is a Polish company specialized in providing personalized thermal management solutions and enabling the transition to sustainable mobility.

The countries covered in the Automotive Battery Thermal Management System market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06325396/?utm_source=GNW

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