EV Battery Thermal Management System Market -Global and Regional Analysis 2022-2028

Market Overview:

Global EV Battery Thermal Management System Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering the base year as 2021.

To maintain the battery's temperature range within an acceptable range for effective functioning, thermal management technologies are required. Better heat management methods have been developed by manufacturers in response to the need for battery-powered cars. Market expansion is being hampered by fast charging capabilities and battery size decrease. Technical advancements in the field of battery heat control, however, are likely supporting market expansion.

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Market Dynamics:
Driver:
The market for electric vehicle battery thermal management systems is expected to increase as a result of factors such rising demand for electric vehicles, long-range & quick charging technologies, and favorable emission requirements. The development of the EV BTMS market is, however, constrained by design issues, complexity in battery thermal management system components, and a lack of adequate infrastructure for electric vehicles. The market for electric vehicle battery thermal management systems has growth prospects due to advances in lithium-ion battery technology and battery cooling systems.

Opportunities:
As EVs gain in popularity, new car purchasers are less certain that they will have an adequate range for their everyday driving demands. Automobile manufacturers have been urged to create EV with longer range as a result of this range anxiety. The easiest approach to extend an EV's range is to expand the battery pack. Demand for long range electric vehicles presents bright opportunity. For instance, on April 20, 2022, Tata Motors unveiled the long-range Nexon EV, an electric vehicle with a 400km range and a larger 40kWh battery pack. In order to maintain an appropriate temperature range for the car to work properly, battery heat management is required for electric vehicles with larger battery packs.

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Market Segmentation:
By Type
• Active
• Passive
• Hybrid

By Technology
• Liquid Cooling and Heating
• Air Cooling and Heating
• Others

By Vehicle Type
• Passenger Vehicles
• Commercial Vehicles
• Two-Wheeler
• Three-Wheeler

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Top Key Players Involved Are:
• Modine Manufacturing Company
• Continental AG
• Gentherm
• Dana Limited
• Hanon Systems
• Valeo
• MAHLE GmbH
• Robert Bosch GmbH
• Grayson
• VOSS Automotive GmbH and other major players.

Key Industry Developments In EV Battery Thermal Management System Market

May 2022, the new suite of EVantage Thermal Management Systems from Modine Manufacturing Company, a diversified worldwide leader in thermal management technology and solutions, has been made generally available for commercial EV chassis.

Key Benefits For Stakeholders
• This study presents analytical depiction of the global electric vehicle battery thermal management system market analysis along with the current trends and future estimations to depict imminent investment pockets.
• The overall electric vehicle battery thermal management system market opportunity is determined by understanding profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities of the global electric vehicle battery thermal management system market with a detailed impact analysis.
• The current electric vehicle battery thermal management system market is quantitatively analyzed from 2022-2028 to benchmark the financial competency.
• The Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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