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 increasing advancement in battery thermal management systems such as liquid-based, phase-change material-based, refrigerant-based, and ML-based methods globally. According to the International Energy Agency (IEA), in 2024, Electric car sales neared 14.0 million in 2023, 95.0% of which were in China, Europe and the US. Electric car sales in 2023 were 3.5 million higher than in 2022, a 35.0% year-on-year increase.

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Active thermal management systems actively control the battery's temperature using sensors and actuators to maximize efficiency and extend battery life. To maintain passenger comfort in the cabin, the thermal management system must maintain the proper temperature for the electric motor, power electronics, and battery. Electric vehicle thermal management adjusts to both internal and exterior temperature variations to maintain the ideal temperature in battery packs, power electronics drives, and electric motors. As it affects the safety and drivability of electric vehicles, thermal control is essential. The drivability, fuel efficiency, and battery life of electric vehicles all deteriorate with rising temperatures. Battery thermal management is essential when considering the battery's overall thermal impact on electric cars.

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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Market Segmentation

Global Battery Thermal Management System Market by Type

Liquid Cooling & Heating
Air Cooling & Heating

Global Battery Thermal Management System Market by Battery Type

Solid-State Battery
Conventional Battery

Global Battery Thermal Management System Market by Application

Battery Electric Vehicle (BEV)
Plug-In Hybrid Electric Vehicle (PHEV)

Regional Analysis

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 and Africa

Company Profiles 

AKG Group
ANSYS, Inc.
BorgWarner Inc.
Graco Inc.
Grayson Thermal Systems
Guchen Industry
HYDAC International GmbH
KUS Americas, INC.
MAHLE GmbH
Modine Manufacturing Co.
Modine Manufacturing Company
Schaeffler Group
SGL Carbon
SiTime Corp.
Thermo Heating Elements, LLC
Trumonytechs
Valeo
Zhengzhou Kelin Motor Vehicle Air Conditioning Co., Ltd.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the battery thermal management system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.

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