According to this latest study, the growth in the EV Battery Thermal Management System Market will change significantly from the previous year. Over the next six years, EV Battery Thermal Management System will register a CAGR in terms of revenue, and the global market size will reach USD in millions by 2028.
Battery thermal management system (BTMS) is used to maintain a battery pack of electric vehicles at an optimum average temperature during the electrochemical processes occurring in cells. High battery temperatures can reduce performance, shorten battery life, and pose a risk of explosion. Therefore, battery thermal management system is essential for all battery modules. The main purpose of battery thermal management system is regulation of temperature of the battery cell to extend the life of the battery. The battery thermal management system is expected to allow the pack to work under a good range of climatic conditions and supply ventilation. Furthermore, in electric vehicles, thermal management makes it possible to not only improve battery power and longevity, but also to reduce the size of electric engines. Thus, temperature is the main parameter that needs to be controlled in a battery. Hence, it is necessary to employ battery thermal management system in electric vehicles.
Factor such as growing demand for electric vehicles, long range & fast charging technology, and favorable emission standards propel the electric vehicle battery thermal management system market growth. However, design challenges and complexities in components used for battery thermal management system and lack of sufficient infrastructure for electric vehicles are factors that hinder the growth of the EV BTMS market. Increase in technological changes in lithium-ion batteries and innovation in battery cooling system provide growth opportunities for the electric vehicle battery thermal management system market.
Leading Key Players Covered in EV Battery Thermal Management System market:
- Modine Manufacturing Company
- Continental AG
- Dana Limited
- Hanon Systems
- MAHLE GmbH
- Robert Bosch GmbH
- VOSS Automotive GmbH and other major players.
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These companies are devising key strategies such as acquisitions, merges, collaborations, partnerships, new product launches, regional expansions, and targeting untapped markets to gain competitive advantage over other players working in the market.
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Customized Report @: https://introspectivemarketresearch.com/custom-research/16279 Segmentation of EV Battery Thermal Management System Market:
- Liquid Cooling and Heating
- Air Cooling and Heating
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Geographic Segment Covered in the Report
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
Reasons to Purchase this Market Report:
- Market forecast analysis through recent trends and SWOT analysis
- EV Battery Thermal Management System Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
- Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
- EV Battery Thermal Management System Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
- Competitive environment related to the EV Battery Thermal Management System market share for key players, along with new projects and strategies that players have adopted over the past five years
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