Electric Vehicle Battery Thermal Management Systems Market to Reach $8.4 Billion Globally by 2031 at a CAGR of 14.6%: Allied Market Research

Rising demand for electric vehicles, favorable emission standards, and long-range and fast charging technology have driven the growth of the global market for electric vehicle battery thermal management systems.

PORTLAND, Oregon., June 22, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, “Electric Vehicle Battery Thermal Management System Market By Type (Active, Passive, Hybrid), By Technology (Liquid Cooling & Heating, Air Cooling & Heating, Others), By Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Fuel Cell Electric Vehicle), by Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two-Wheelers and Three-Wheelers): Global Opportunities Analysis and Industry Forecast, 2021-2031 ». According to the report, the global electric vehicle battery thermal management systems industry was considered $2.3 billion in 2021, and should reach $8.4 billion by 2031, growing at a CAGR of 14.6% from 2022 to 2031.

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Drivers, constraints and opportunities

Rising demand for electric vehicles, favorable emission standards, and long-range and fast charging technology have driven the growth of the global market for electric vehicle battery thermal management systems. However, complexity and design challenges and lack of infrastructure are hampering the growth of the market. On the contrary, the boom in technological changes in lithium-ion batteries and innovation in battery cooling systems are expected to open up new opportunities in the future.

Download the report (265-page PDF with information, graphs, tables, figures) at https://www.alliedmarketresearch.com/request-sample/16768

Covid-19 scenario:

  • The Covid-19 pandemic has significantly affected the market due to the implementation of strict containment and the ban on import-export of essential raw materials.

  • The sudden drop in global demand for automobiles and the halt in production further hampered the market.

The active segment held the largest share

By type, the active segment held the largest share in 2021, accounting for more than half of the global electric vehicle battery thermal management system market as it is widely adopted in various vehicles and is profitable. However, the passive segment is expected to register the highest CAGR of 15.7% during the forecast period.

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The air cooling and heating segment dominated the market

By technology, the air cooling and heating segment captured the lion’s share in 2021, contributing nearly half of the global market for electric vehicle battery thermal management systems. However, the liquid cooling and heating segment is estimated to show the highest CAGR of 15.5% from 2022 to 2031, driven by increased demand for efficient battery cooling in vehicles.

Asia Pacific held the largest share

By region, the market across Asia Pacific dominated in 2021, holding almost half of the global electric vehicle battery thermal management systems market, due to the increase in the number of electric vehicles, especially in China. However, the market through Europe is expected to show the highest CAGR of 16.5% during the forecast period, due to several government regulations regarding fuel emissions.

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Main market players

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Similar reports we have on the electric vehicle industry:

Automotive Thermal Management System Market By Application (Engine Cooling, Transmission Cooling, Waste Heat Recovery and Others), Vehicle Type (Passenger Cars and Commercial Vehicles), Propulsion (Internal Combustion Engine and Electric), Component (Power Distribution Box, Domain Controller Units, Motor Control Unit, Inverter, Converters, Connectors and Power ICs) and Technology (Active Transmission Warming, Motor Thermal Mass Reduction, Heat Recirculation Exhaust Gas and Others): Global Opportunities Analysis and Industry Forecast, 2021-2030.

Electric Vehicle Thermal Management Market By System (Heating, Ventilation, and Air Conditioning (HVAC), Powertrain Cooling, Fluid Transportation, and Others), Component Type (Motor, Battery, and Cabin), and Technology (Active Transmission Warming) , Exhaust Gas Recirculation (EGR), HVAC System Load Reduction and Others): Global Opportunities Analysis and Industry Forecast, 2021-2030.

Automotive Thermal Systems Market by Component (Compressor, HVAC, Powertrain Cooling and Fluid Transport) – Global Opportunity Analysis and Industry Forecast, 2014-2030.

EV Testing Equipment Market by Vehicle Type (Passenger Car & Commercial Vehicle), Electric Vehicle Type (BEV & HEV), Equipment Type (AC/DC EVSE, Battery Testing Equipment, Chassis Dynamometer, Dynamometer Application (EV Component and Powertrain, EV Charging and Powertrain): Global Opportunities Analysis and Industry Forecast, 2021-2030.

About Us

Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. CEO of Allied Market Research Pawan Kumar is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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