Automotive Battery Thermal Management System Market by Technology (Air, Liquid, Phase Change Material, Thermo electrics), Propulsion (BEV, HEV, PHEV & FCV), Battery Capacity, Vehicle Type (Passenger & Commercial) and Region Forecast to 2023.

Global Automotive Smart Key Market Highlights:

The Battery Thermal Management System (BTMS) plays a vital role in controlling the thermal behavior of battery cells. The battery thermal management system manufacturers are testing new materials, arrangements, design, and technologies to improve the overall durability of the powertrain technology. Battery manufacturers are facing issues in energy consumption of automotive electrical equipment. Stringent emission norms will enable key battery manufacturers to adopt the latest energy-efficient technologies. In addition to that, energy efficient technology will minimize heat dissipation through an electric inverter, electric control unit, and water pump in order to improve the overall dynamics of battery thermal management system. 

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The factors that are responsible for the growth of automotive battery thermal management system market are rise in awareness of electric vehicles, government initiatives in tax exemption, and subsidies offered in the purchase of electric vehicle. Other key drivers expected to contribute towards the growth of the battery thermal management system market are depletion of oil reserves and investment in charging infrastructure. 

The key players in automotive battery thermal management system market are LG Chem (South Korea), Continental (Germany), GenTherm (U.S.), Robert Bosch (Germany), Valeo (France), Calsonic Kansei (Japan), DANA (U.S.), Hanon Systems (Korea), Samsung SDI (Korea), Mahle (Germany), VOSS Automotive (Germany), and CapTherm Systems (Canada), among others.

The automotive battery thermal management system market is segmented into technology, propulsion, battery capacity, and vehicle type. On the basis of technology, forced air system and liquid system are widely used and cover the majority of battery thermal management system market. On the basis of propulsion, the Battery Electric Vehicle (BEV) has the largest demand for automotive battery thermal management system. On the basis of vehicle type, passenger vehicles cover the majority of market share. Very few players, such as BYD Co. and Volvo, are present in the electric commercial vehicle industry, which are working on electric driven vehicles.

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