Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Battery Cooling Plate Market Size, Share & Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
This expansive analysis of the global battery cooling plate market offers a comprehensive exploration through 2030. The report sheds light on the driving forces, trends, and opportunities that are expected to shape the market dynamics in the coming years.
Directly correlating with the rapid transformation in the automotive industry, particularly the rise in electric vehicle (EV) adoption, the demand for battery cooling plates is experiencing a significant surge. As the EV market evolves, with governments worldwide propelling green energy initiatives, the report anticipates the global battery cooling plate market size to reach an impressive USD 5.01 billion by 2030.
With technological advances and burgeoning EV adoption, Battery Electric Vehicles (BEV) are projected to drive a substantial portion of market volume. The utilization of liquid cooling systems, notable for their efficacy in heat dissipation for battery packs and pivotal in ensuring safety and performance, are a primary focus within the battery cooling plate sector. The analysis indicates a heightened trajectory for this application segment over the forecast period.
In terms of market process segments, indirect cooling garners the spotlight as the predominant force, anticipated to maintain its stronghold due to its widespread commercial application and reasonable cost. Research and development in this area are ongoing, with the industry seeking even more sophisticated cooling methodologies.
Regional Insights and Developments
The market is geographically dissected, revealing that the Asia Pacific region commanded the largest market share in 2022. This dominance is fueled by voluminous EV sales, rapid development of charging infrastructure, compelling tax incentives, and initiatives like the Electric Vehicles Initiative (EVI) designed to expedite global EV uptake.
- The report highlights that the Asia Pacific is expected to manifest the fastest growth, with a remarkable CAGR of 39.2%, emphasizing the region's market leadership.
- Significant investments in battery production facilities have been spotlighted, evidencing the industry's expansion, including GM and Samsung SDI's joint venture in the United States.
Market leaders are incessantly innovating to stay at the forefront of the industry. The analysis cites one particular case: MAHLE GmbH's development of immersive cooling technology in 2021, which stands to significantly reduce EV charging times and enhance resource efficiency.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 83 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $395 Million |
| Forecasted Market Value (USD) by 2030 | $5 Billion |
| Compound Annual Growth Rate | 37.4% |
| Regions Covered | Global |
Companies Mentioned
- Bespoke Composite Panels
- Dana Limited
- Estra Automotive
- KOHSAN Co. Ltd.
- MAHLE GmbH
- Modine Manufacturing Company
- Nippon Light Metals
- Priatherm
- SANHUA Automotive
- Senior Flexonics
For more information about this report visit https://www.researchandmarkets.com/r/17myqx
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