Global Electric Vehicle Battery Thermal Management Systems Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global Electric Vehicle Battery Thermal Management Systems Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global electric vehicle battery thermal management systems market has been segmented on the basis of system type, application, as well as regions and countries.

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Overview:

A battery thermal management system is a combination of forced air cooling, thermoelectric cooling, and liquid cooling. The liquid coolant has indirect contact with the battery and acts as a medium to remove heat generated during the operation of battery. In short, the goal of a battery thermal management systems in electric vehicles is to increase the lifetime of the battery system by regulating the temperature levels and distribution.

Dynamics:

The increasing adoption of electric vehicles around the world is a primary factor that is expected to boost the revenue growth of the global electric vehicle battery management systems market over the next 10 years. This rising penetration of electric vehicles has led manufacturers to invest more towards the development of improved and efficient thermal management systems of electric vehicles, thereby, increasing opportunities for future revenue growth of this global market.

The enforcement of stringent carbon emission norm for vehicles by respective governing bodies has resulted in more individuals opting for cleaner vehicles. This shift in consumer preferences is another factor that is expected to fuel future revenue growth of the global electric vehicle battery thermal management systems market in the foreseeable future.

In light of the recent COVID-19 outbreak, manufacturing and supply chain operations across several industries, including the automotive industry, have been temporarily halted. This is expected to have a significant impact on the revenue growth of the global electric vehicle battery thermal management systems market in the foreseeable future. However, governments from around the world are presently undertaking measures to boost their respective economies and improve their infrastructure, this is expected to positively augment market growth in the years to come.

Segmentation of the global electric vehicle battery thermal management systems market is as follows:

In terms of system type, the passive system type segment accounted for the majority revenue share of the global electric vehicle battery thermal management systems market in 2019, and is expected to continue to do so over the next 10 years due to their high demand. Although, the active type segment is expected to index the highest rate of revenue growth in the years to come.

With respect to application, the passenger vehicle segment accounted for the majority revenue shares of the global electric vehicle battery thermal management systems market in 2019. This segment is also slated to expand at the highest rate of revenue growth in the foreseeable future, owing to ease of availability of passenger cars across the globe. The commercial vehicle segment is anticipated to register considerable revenue growth over the next 10 years due to the increasing demand for battery-operated vehicles in this segment.

Regional Segmentation and Analysis:

The markets in the APAC accounted for the majority revenue share of the global electric vehicle battery thermal management systems market in 2019, and is expected to index the fastest rate of revenue growth over the forecast period. The markets in Europe are also slated to register considerable growth due to the large presence of key automobile manufacturers in this region.

Segmentation of the Global Electric Vehicle Battery Thermal Management Systems Market:

Segmentation by System Type:

• Active
• Passive

Segmentation by Application:

• Passenger Vehicle
• Commercial Vehicle

Segmentation by Region:

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