Increasing Demand for Comfort Features and Need for Power Extension to Uplift the Thermal Management Market

1. Rising Demand for Electric Vehicles to Drive the Automotive Battery Thermal Management System Market The report "Automotive Battery Thermal Management System Market by Propulsion (BEV, HEV, PHEV, & FCV), Technology (Active and Passive), Vehicle Type (Passenger & Commercial), Battery Type (Conventional & Solid-State), Battery Capacity, and Region - Forecast to 2025", The Automotive Battery Thermal Management System Market is projected to grow at a CAGR of 16.05% during the forecast period, from $ 1.29 Billion in 2017 to $ 4.24 Billion by 2025. Factors such as improved battery performance and efficiency, integration of automotive battery thermal management system with other electric thermal management systems, and stringent emission regulations by governments have forced the manufacturers to move towards the adoption of hybrid and electric vehicle technology. Browse 90 tables and 53 figures spread through 153 pages and in-depth TOC on "Automotive Battery Thermal Management System Market by Propulsion (BEV, HEV, PHEV, & FCV), Technology (Active and Passive), Vehicle Type (Passenger & Commercial), Battery Type (Conventional & Solid-State), Battery Capacity, and Region - Forecast to 2025" https://www.marketsandmarkets.com/Market-Reports/automotive-battery-thermal-management-system- market-184479896.html Early buyers will receive 10% customization on reports. “BEVs are estimated to showcase the largest demand for automotive battery thermal management system” The BEV segment is estimated to hold the largest share of the automotive battery thermal management system market. The demand for automotive battery thermal management system in BEVs is influenced by the total sales of BEVs. According to MarketsandMarkets analysis, the BEV sales are projected to grow from 431.3 thousand units in 2017 to 7.2 million units by 2025. “Active technology to be the fastest growing segment of the automotive battery thermal management system market” The active technology segment is projected to witness the fastest growth during the forecast period. The growth of this segment can be attributed to the increased efficiency, improved battery performance, and long life from active technology battery thermal management system. The growth can also be attributed to the high growth projections of BEVs in countries such as China and Japan. For instance, China has an ambitious plan of going all electric by 2025. Hence, this system is expected to experience the highest growth during the forecast period. The active technology of automotive battery thermal management system market is expected to have a higher adoption rate in the near future. Factors such as the increased efficiency, improved battery performance, and long lifespan are expected to drive the demand for active technology in the battery thermal management

2. system market. Active technology, which uses air or liquid for heating or cooling the battery cells, has enabled the developers and manufacturers to get maximum efficiency and performance with extended battery life. The passenger vehicles segment is projected to hold the largest market share during the forecast period. The growth of this segment can be attributed to the various initiatives by government bodies to improve EV adoption rate across the world. The growth can also be attributed to the high growth projections of BEVs and PHEVs in several countries. The <100 kWh battery segment is estimated to hold the largest share of automotive battery thermal management system market during the forecast period. The <100 kWh battery segment holds the largest market share due to the growth of plug-in hybrid, hybrid vehicle, and fully electric vehicle. The manufacturers are trying to make a low-cost battery thermal management system that can help to reduce the overall price of the electric vehicle and make it available in the mass market. The market for <100 kWh battery is projected to remain the largest in the automotive battery thermal management system market. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=184479896 “Asia Pacific isexpected to be the largest market for automotive battery thermal management system” The automotive battery thermal management system market for the Asia Pacific is estimated to be the largest, owing to the presence of key countries such as China, Japan, India, and South Korea, which constitute the highest sales of electric and hybrid vehicles globally. According to MarketsandMarkets analysis, China and Japan constitute 50-55% share of the total electric vehicles sold globally. Hence, the Asia Pacific region is estimated to be the largest market for automotive battery thermal management system. Asia Pacific is estimated to be the largest market for automotive battery thermal management system owing to the increasing sales of electric vehicles in countries such as China and Japan. The electric vehicle sales in China and Japan are expected to increase from 0.49 million units and 1.09 million units in 2016 to 2.17 million units and 2.1 million units in 2022, respectively. The Chinese government’s move of working on a timetable to end the production and sales of gasoline as well as diesel cars is expected to increase the market of electric vehicles in the region. Likewise, the Japanese government’s “Next-Generation Vehicle Strategy 2010” aims at increasing the market share of electric vehicles to 50% of the total vehicle sales by the end of 2020. Thus, the market for automotive battery thermal management system market is also slated to increase with the increasing sales of electric vehicles in the region. The automotive battery thermal management systems market is dominated by a few global players. Some of the key manufacturers operating in the market are LG Chem (South Korea), Continental (Germany), Gentherm (US), Valeo (France), Calsonic Kansei (Japan), DANA (US), Hanon Systems (Korea), Samsung SDI (Korea), Mahle (Germany), VOSS Automotive (Germany), and CapTherm Systems (Canada). There are certain key innovators gaining attention in the automotive battery thermal management system market including LG Chem (South Korea), Tesla (US), and Robert Bosch (Germany). Request Sample: https://www.marketsandmarkets.com/requestsample.asp?id=184479896

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