Global battery thermal management system market is anticipated to grow at a significant CAGR of 15.7% during the forecast period (2024-2031). The market growth is attributed to the growing demand for electric vehicles and advancements in battery technology such as heat transfer intensifying methods, battery operation performance based thermokinetic, electrochemical, and mechanical globally. By controlling the temperature of batteries, a battery thermal management system ensures their safe and effective operation. Low temperatures can result in reduced battery capacity and poorer charging/discharging performance, while high temperatures can hasten battery aging and provide safety concerns. For instance, in June 2021, Gentherm developer of innovative thermal management technologies announced a two-phase cooling technology that leverages thermodynamics that has the potential to enable fast charging and discharging of a battery to overcome the challenges for electric vehicle (EV) batteries, on-board electronics, and charging infrastructures.
Browse the full report description of “Battery Thermal Management System Market Size, Share & Trends Analysis Report by Type (Liquid Cooling & Heating and Air Cooling & Heating), by Battery Type (Solid-State Battery and Conventional Battery), and by Application (Battery Electric Vehicle (BEV) and Plug-In Hybrid Electric Vehicle (PHEV)), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/battery-thermal-management-system-market
Market players intend to use the new facilities to continue to work with car manufacturers and suppliers to co-engineer future battery technology and associated thermal management fluids. The investment helps accelerate the transition to EVs by developing solutions to help decarbonize the transport sector. For instance, in August 2022, BP invested up to £50.0 million ($52.6 million) in a new global battery research and development center in Britain. The company's advanced e-fluid technologies and engineering can be applied to other industries such as thermal management fluids for data centers where demand is rising exponentially.
To reduce the weight of the thermal systems that cool vehicle batteries, which will significantly increase the weight, range, and carbon footprint of electric vehicles overall, as well as to increase safety in the event of a battery fire. Companies that produce battery thermal management systems are developing all-inclusive, intelligent, low-carbon thermal management systems that are adjusted for charging intensity and speed. Furthermore, it can enhance them even further owing to the joint research program with collaborating with other companies. For instance, in October 2022, TotalEnergies and Valeo collaborated to develop an innovative way of cooling electric vehicle batteries using a new, very high-performance dielectric fluid. Valeo contributes its expertise in the related thermal systems to design and build the best solution to integrate the coolant within the electric vehicle battery pack, thereby optimizing performance by conditioning it at the right temperature
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Battery Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Asahi Kasei Corp., DENSO Corp., Hitachi, Ltd., Infineon Technologies AG, and LG Corp., among others.
Key questions addressed by the report.
Global Battery Thermal Management System Market Report Segment
By Type
By Battery Type
By Application
Global Battery Thermal Management System Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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