Automotive Battery Thermal Management System Market is Expected to Hit $18.7 Billion by 2032, Growing at a CAGR of 15.6%

Automotive Battery Thermal Management System Market

Automotive Battery Thermal Management System Market

Automotive Battery Thermal Management System Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

The automotive battery thermal management system market is expected to continue growing in the coming years, owing to increasing demand for thermal management system in oil and gas industries.”
— Allied Market Research

PORTLAND, OREGON, UNITED STATES, September 22, 2023/EINPresswire.com/ -- Allied Market Research published a report on the Automotive Battery Thermal Management System Market by Type (Conventional, Solid), by Vehicle Type (Commercial Vehicles, Passenger Vehicles), by Technology (Active, Passive, Hybrid), by Propulsion (Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicle (PHEVs), Fuel Cell Electric Vehicle (FCEV), Battery Electric Vehicle (BEVs)): Global Opportunity Analysis and Industry Forecast, 2023-2032.

The global automotive battery thermal management system market was valued at $4.6 billion in 2022, and is projected to reach $18.7 billion by 2032, growing at a CAGR of 15.6% from 2023 to 2032.

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The increase in need for enhanced ride quality and heat insulation for cabin comfort in the automobile sector drives demand for thermal management systems. The growth in the number of electrical and electronic components within automobiles necessitates the development of improved thermal management systems for heat dissipation.

Thermal management solutions for IC engines are likely to become obsolete eventually as the automobile industry transitions to electric mobility. However, the surge in demand for heavy-duty electrical components, such as heavy-duty batteries and high-current motors, is projected to keep these thermal management solutions in high demand. The need for electrical and electronic components in both passenger automobiles and commercial vehicles has expanded tremendously as automation and engine electrification have increased.

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The research report presents a complete judgment of the automotive battery thermal management system market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities

Competitive Analysis:

The automotive battery thermal management system industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the global automotive battery thermal management system market include,

MAHLE GmbH
LG Chem
Valeo
Hanon Systems
Samsung SDI Co., Ltd.
Dana Limited
Continental AG
Gentherm Inc
Calsonic Kansei Corporation (Marelli Corporation)
Robert Bosch GmbH

Top Impacting Factors:

The automotive battery thermal management system market analysis is anticipated to expand significantly during the forecast period including a surge in demand for high-performance, fuel-efficient, & low emission vehicles and stringent government rules & regulations toward vehicle emission. However, high development cost associated with automotive battery thermal management systems may hamper the market growth. Furthermore, innovation in battery cooling systems provides lucrative automotive battery thermal management system market opportunities for market growth.

Historical Data & Information:

The global automotive battery thermal management system market is highly competitive, owing to the strong presence of existing vendors. Vendors of the automotive battery thermal management system market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.

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Key Benefits for Stakeholders:

1) The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

2) This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.

3) Major countries in each region are mapped according to their revenue contribution to the global market.

4) Porter’s five forces analysis illustrates the potency of the buyers and the automotive battery thermal management system market share of key vendors.

5) The report includes major automotive battery thermal management system suppliers along with the company overview, business segments, product portfolio, and key strategic moves and development in the market.

About Us:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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