Rise in demand for electric vehicles, favorable emission standards, and long range & fast charging technology have boosted the growth of the global electric vehicle battery thermal management system market.
PORTLAND, Ore., June 22, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Electric Vehicle Battery Thermal Management System Market by Type (Active, Passive, Hybrid), by Technology (Liquid Cooling and Heating, Air Cooling and Heating, Others), by Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle), by Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two Wheeler and Three Wheeler): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global electric vehicle battery thermal management system industry was accounted for $2.3 billion in 2021, and is expected to reach $8.4 billion by 2031, growing at a CAGR of 14.6% from 2022 to 2031.
Drivers, restraints, and opportunities
Rise in demand for electric vehicles, favorable emission standards, and long range & fast charging technology have boosted the growth of the global electric vehicle battery thermal management system market. However, complexities and challenges in designs and lack of infrastructure hinder the market growth. On the contrary, surge in technological changes in lithium-ion batteries and innovation in battery cooling systems are expected to open new opportunities in the future.
Download Report (265 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/16768
Covid-19 scenario:
- The Covid-19 pandemic affected the market significantly due to implementation of strict lockdown and ban on import-export of essential raw materials.
- Sudden decline in global demand for automobile and halt in production hampered the market even more.
The active segment held the largest share
By type, the active segment held the largest share in 2021, accounting for more than half of the global electric vehicle battery thermal management system market, as it is widely adopted in various vehicles and is cost-effective. However, the passive segment is expected to register the highest CAGR of 15.7% during the forecast period.
Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/16768
The air cooling and heating segment dominated the market
By technology, the air cooling and heating segment held the lion's share in 2021, contributing to nearly half of the global electric vehicle battery thermal management system market. However, the liquid cooling and heating segment is estimated to manifest the highest CAGR of 15.5% from 2022 to 2031, due to increased demand for efficient battery cooling in the vehicles.
Asia-Pacific held the largest share
By region, the market across Asia-Pacific dominated in 2021, holding nearly half of the global electric vehicle battery thermal management system market, due to rise in number of electric vehicles especially in China. However, market across Europe is projected to portray the highest CAGR of 16.5% during the forecast period, owing to several government regulations regarding fuel emission.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/16768
Major market players
- Modine Manufacturing Company
- Continental AG
- Gentherm
- Dana Limited
- Hanon Systems
- Valeo
- MAHLE GmbH
- Robert Bosch GmbH
- Grayson
- VOSS Automotive GmbH
Buy Complete Report Now!https://www.alliedmarketresearch.com/checkout-final/24149c7a0eaa8fd8b3a71faccd92af87
Similar Reports We Have on EV Industry:
Automotive Thermal Management System Market by Application (Engine Cooling, Transmission Cooling, Waste Heat Recovery and others), Vehicles Type (Passenger Cars and Commercial Vehicles), Propulsion (Internal Combustion Engine and Electric), Component (Power Distribution Box, Domain Controller Units, Engine Control Unit, Inverter, Convertors, Connectors and Power Integrated Circuits) and Technology (Active Transmission Warm-Up, Engine Thermal Mass Reduction, Exhaust Gas Recirculation and others): Global Opportunity Analysis and Industry Forecast, 2021-2030.
Electric Vehicle Thermal Management Market by System (Heating, Ventilation & Air Conditioning (HVAC), Powertrain Cooling, Fluid Transport, and Others), Component Type (Motor, Battery, and Cabin Area), and Technology (Active Transmission Warmup, Exhaust Gas Recirculation (EGR), Reduced HVAC System Loading, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.
Automotive Thermal System Market by Component (Compressor, HVAC, Powertrain Cooling, and Fluid Transport) - Global Opportunity Analysis and Industry Forecast, 2014-2030.
EV Test Equipment Market by Vehicle Type (Passenger Car and Commercial Vehicle), Electric Vehicle Type (BEV and HEV), Equipment Type (AC/DC EVSE, Battery Test Equipment, Chassis Dynamometer, Engine Dynamometer, and EV Drive Train Test) Application (EV Component & Drivetrain, EV Charging, and Powertrain): Global Opportunity Analysis and Industry Forecast, 2021-2030.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
