Global Automotive Battery Thermal Management System (BTMS) Market Poised to Cross US$4.2 Bn in 2026

London, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Proliferating demand for high-performance fuel-efficient vehicles drives adoption of automotive battery thermal management system (BTMS) worldwide. Fairfield Market Research in one of its recently released reports suggests that the global automotive battery thermal management system market will observe impressive growth in the light of climbing electric vehicle (EV) sales and projects the market revenue to reach around US$4,252.1 Mn by 2026 end. Automotive BTMS market registered the valuation of around US$666.3 Mn in the year 2020 and has been progressing on account of the rapid development of government initiatives and regulation in favour of e-mobility. The market demonstrated notable recovery post-COVID-19-pandemic, marks the report.

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Key Research Insights

• Automotive BTMS market is likely to thrive at a stupendous CAGR of nearly 36% during 2021 – 2026
• Asia Pacific registered a whopping 60% share in automotive BTMS market revenue of 2019
• Passenger vehicles continue to be at the forefront of demand generation owing to their mounting sales
  
  

Insights into Segmental Analysis

The report states that as the EV sales continue to climb up, they will continue to represent a continuous stream of revenue generation opportunity for automotive BTMS market players. Moreover, passenger cars remain the most lucrative market segment for both the OEMs, and EV makers. Passenger cars will also continue to lure the manufacturers of automotive battery thermal management systems. With a greater number of consumers worldwide showcasing their preference for e-mobility, the scope of growth for automotive BPMS market will remain on an uptrend, says the report. Moreover, as the passenger cars segment receives a strong push from the growing trend of shared mobility, the report expects automotive BTMS market players to seize this selling opportunity.

Key Report Highlights

• Government-imposed bans on new ICE vehicles across several nations will directly favour the growth of automotive BTMS market
• Adoption will rise high with spiralling sales of battery electric vehicles (BEVs), and plug-in hybrid electric vehicles (PHEVs)
• The big six of the automotive BTMS space hold a collective market share of more than 50%
  
  

Insights into Regional Analysis

Asia Pacific recorded more than 60% share in global automotive BTMS market in the year 2020 and the report attributes the region’s dominance to the constantly growing attractiveness of the Asia’s BTMS manufacturing hubs, i.e., China, Japan, India, and South Korea. Moreover, the region has been witnessing unprecedented growth in demand for alternative fuel vehicles, which also would work to the advantage of automotive battery thermal management system market here. Brisk expansion of the Asia Pacific EV market is another strong factor pushing the growth prospects of automotive BTMS market up, in the region. This is further well-complemented by the easy financing schemes, subsidies, and incentives on every EV purchase, announced by the various governments.

Leading Players in Global Automotive BTMS Market

While VOSS Automotive, DANA, Continental, Robert Bosch, Mahle, and LG Chem remain the dominant six in global automotive battery thermal management system market space, the report also covers several other prominent companies as well, under the competition analysis section. Some of the profiled ones include Chevrolet, Tesla Motors, Valeo, BYD Company Ltd, Contemporary Amperex Technology Co., Limited (CATL), Calsonic Kansei Corporation, Samsung SDI Co., LTD., Hanon Systems, and Grayson.

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REPORT SCOPE

Market Segmentation

System Coverage

• Active
• Passive

Technology Coverage

• Phase Change Material (PCM)
• Liquid Cooling & Heating
• Air Cooling & Heating
  
  

Battery Capacity Coverage

• 12V
• 14V
• 24V
• 48V & above

Battery Type Coverage

• Solid State
• Conventional

Vehicle Type Coverage

• Passenger Vehicle
• Commercial Vehicle

Electric Vehicle Type Coverage

• BEV
• PHEV
• HEV
  
  

Geographical Coverage

• North America
• Europe
• Latin America
• Middle East & Africa

Leading Companies

• BYD Company Ltd.
• Contemporary Amperex Technology Co., Limited. (CATL)
• Valeo
• Continental AG
• LG Chem
• Robert Bosch GmbH
• Calsonic Kansei Corporation
• Dana Limited
• MAHLE GmbH
• Samsung SDI Co., LTD.
• Others (Grayson, Hanon Systems, GENTHERM, Voss Automotive GmbH)
  
  

Report Inclusions

• Market Estimates and Forecast
• Market Dynamics
• Industry Trends
• Competition Landscape
• Technology-wise Analysis
• Application-wise Analysis
• Region-wise Analysis
• Country-wise Analysis
• Key Trends Analysis
• COVID-19 Impact Analysis

About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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