DUBLIN--(BUSINESS WIRE)--Sep 30, 2022--
The "Electric Vehicle Battery Thermal Management System Market By Type, By Technology, By Propulsion Type, By Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the electric vehicle battery thermal management system market was valued at $2.3 billion in 2021, and is estimated to reach $8.4 billion by 2031, growing at a CAGR of 14.6% from 2022 to 2031.
The battery thermal management system (BTMS) is the device responsible for managing heat produced during the electrochemical processes occurring in cells, allowing the battery to operate efficiently and safely. The battery thermal management system keeps the temperature in a battery pack within a fixed range. Moreover, automobile manufacturers are inclined toward electric and alternative fuel vehicles, owing to increase in battery thermal management system for better range.
Furthermore, the rise in fuel efficiency norms encourage the development of alternative energy-driven vehicles. Thus, automobile manufacturers are shifting towards electric and alternative fuel automobiles. The increase in commercial and passenger automobile production as well as more advanced technology, creates a demand for EV battery thermal management system across the globe.
For instance, Valeo launched battery cooling systems and comprehensive range of coolers solutions for plug-in hybrids and full EVs. In addition, a heat pump system harvests available ambient energy to heat, cool and demist car cabins, delivering optimal heating and air-conditioning.
The electric vehicle battery thermal management system market is segmented on the basis of type, technology, propulsion type, vehicle type and region. By type, it is divided into active, passive, and hybrid. By technology, it is classified into liquid cooling and heating system, air cooling and heating, and others. By propulsion type, it is divided into battery-electric vehicles (BEV), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles. By vehicle type, it is segmented into passenger vehicles, commercial vehicles and two-wheeler & three-wheeler. By region, the market is analyzed across North, Europe, Asia-Pacific, and LAMEA.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investments. In addition, it includes Porter's five forces analysis to understand competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights competitive landscape of key players to increase their market share and sustain intense competition in the industry.
Key Benefits For Stakeholders
Key Market Segments
By Type
By Technology
By Propulsion Type
By Vehicle Type
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/dx4i62
View source version on businesswire.com:https://www.businesswire.com/news/home/20220930005335/en/
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KEYWORD:
INDUSTRY KEYWORD: EV/ELECTRIC VEHICLES AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/30/2022 08:51 AM/DISC: 09/30/2022 08:52 AM
http://www.businesswire.com/news/home/20220930005335/en