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Electric Vehicle Battery Thermal Management System (EV BTMS) Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, Germany, South Korea - Size and Forecast 2024-2028

Electric Vehicle Battery Thermal Management System (EV BTMS) Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, Germany, South Korea - Size and Forecast 2024-2028

Published: Aug 2024 182 Pages SKU: IRTNTR43336

Market Overview at a Glance

$46.88 B
Market Opportunity
47.99%
CAGR
33.79
YoY growth 2023-2024(%)

Electric Vehicle Battery Thermal Management System (EV BTMS) Market Size 2024-2028

The electric vehicle battery thermal management system (ev btms) market size is forecast to increase by USD 46.88 billion at a CAGR of 47.99% between 2023 and 2028.

  • The market is experiencing significant growth due to the increasing demand for electric vehicles (EVs) and their expanded applications. This trend is driven by various factors, including environmental concerns and government regulations promoting the adoption of sustainable transportation solutions. Moreover, advancements In thermal management technology, such as Phase Change Materials (PCMs) and Gel-type Heat Phases (GIHPs), are enabling more efficient and effective cooling systems for EV batteries. However, the high capital and maintenance costs associated with these advanced thermal management systems pose a challenge to market growth. In the US and North American markets, these trends are expected to continue shaping the EV BTMS landscape, with a focus on developing cost-effective and high-performance solutions to address the unique thermal management needs of EVs.

    • What will be the Size of the Electric Vehicle Battery Thermal Management System (EV BTMS) Market During the Forecast Period?

    Electric Vehicle Battery Thermal Management System (EV BTMS) Market Size

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  • The Electric Vehicle (EV) Battery Thermal Management System (BTMS) market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) as an alternative to traditional internal combustion engine vehicles. Lithium-ion batteries, the primary power source for EVs, require precise temperature regulation to ensure optimal performance, longevity, and safety. Automakers prioritize the development and integration of advanced BTMS to manage the thermal challenges posed by these batteries in various propulsion types, including Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), Hybrid Electric Vehicles (HEVs), and Fuel Cell Electric Vehicles (FCEVs). Key market drivers include the need to reduce CO2 emissions, the availability of subsidies, and consumer awareness of the environmental benefits of EVs.
  • However, challenges such as the risk of explosion due to overheating, the need for raw materials, and the cost of batteries remain significant barriers to widespread adoption. The market is also influenced by factors such as vehicle range, charging infrastructure, charging time, super-fast chargers, and climatic conditions. Effective BTMS design incorporates passive and active cooling systems, such as Phase Change Materials (PCMs), ventilation, and regulation of temperature to mitigate the effects of extreme climates on battery life and power. The longevity and safety of battery modules depend on the ability to maintain optimal temperature, which is crucial for both passenger vehicles and commercial applications.

    • How is this Electric Vehicle Battery Thermal Management System (EV BTMS) Industry segmented and which is the largest segment?

    The electric vehicle battery thermal management system (ev btms) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Battery Type
      • Li-ion
      • Lead-acid
      • Others
    • Vehicle Type
      • Passenger vehicle
      • Commercial vehicle
    • Geography
      • APAC
        • China
        • Japan
        • South Korea
      • North America
        • US
      • Europe
        • Germany
      • South America
        • Middle East and Africa

        By Battery Type Insights

        • The li-ion segment is estimated to witness significant growth during the forecast period.

        The Electric Vehicle (EV) battery thermal management system (BTMS) market is experiencing significant growth due to the increasing demand for EVs and the advancements in li-ion battery technology. Li-ion batteries, a key component of EVs, are manufactured using various cathode materials such as lithium-nickel-cobalt-aluminum oxide (NCA), lithium-nickel-manganese-cobalt (NCM or NMC), lithium-manganese spinel (LMO), lithium titanate (LTO), and li-ion phosphate (LFP). Each cathode material offers unique safety, cost, and performance characteristics. Effective thermal management is crucial for EV batteries, particularly li-ion, to ensure optimal performance, longevity, and safety. This involves monitoring and controlling battery temperature through cooling systems, power consumption, and thermal design.

        Climatic conditions, battery capacity, and charging patterns also impact battery temperature. OEMs are investing in advanced technologies like nanotechnology, smart windows, and solid-state batteries to improve battery performance, reduce charging time, and increase vehicle range. The EV market's growth is driven by factors such as CO2 emission norms, consumer awareness, and government subsidies. The BTMS market is expected to grow as the EV industry continues to evolve, with a focus on improving battery life, reducing costs, and enhancing overall vehicle performance.

        Electric Vehicle Battery Thermal Management System (EV BTMS) Market Size

        Get a glance at the  Electric Vehicle Battery Thermal Management System (EV BTMS) Industry report of share of various segments Request Free Sample

        The Li-ion segment was valued at USD 1.91 billion in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        • APAC is estimated to contribute 41% to the growth of the global market during the forecast period.

        Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        Electric Vehicle Battery Thermal Management System (EV BTMS) Market Share by Geography

        For more insights on the market share of various regions, Request Free Sample

        The Electric Vehicle (EV) battery thermal management system (BTMS) market In the Asia Pacific (APAC) region is experiencing significant growth due to the increasing sales of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) in countries like China, Singapore, Japan, and South Korea. China is the leading contributor to this market, driven by the high volume of EV sales. The expanding focus on alternative fuel vehicles in emerging Asian markets is facilitating the growth of the regional BTMS market. Strict emission norms In these markets are compelling Original Equipment Manufacturers (OEMs) to expand their BEV and PHEV offerings, thereby fueling market expansion.

        Lithium-ion batteries, a key component of EVs, require effective thermal management to ensure optimal performance, battery life, and safety. The market for BTMS is expected to grow as OEMs invest in advanced technologies, such as nanotechnology, solid-state batteries, and smart window systems, to enhance battery capacity, reduce charging time, and improve vehicle range. The increasing consumer awareness and availability of charging infrastructure, coupled with government subsidies, are also contributing to the growth of the market. Despite the challenges of high battery prices and the need for super-fast chargers, the trend towards electric vehicles and net-zero emissions is driving the market forward.

        Market Dynamics

        Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of Electric Vehicle Battery Thermal Management System (EV BTMS) Industry?

        Increasing demand for EVs and their expanded applications is the key driver of the market.

      • The market is experiencing significant growth due to the increasing sales of Lithium-ion batteries in Electric Vehicles (EVs), including Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). China, Europe, and the US are major markets for EVs, with China leading in sales in 2022. Factors such as advancements in EV technology, improvements in charging infrastructure, and socio-economic conditions are driving the demand for BEVs and PHEVs. Lithium-ion batteries are the primary component of EVs, and their thermal management is crucial to ensure their longevity and performance. Effective thermal management helps regulate battery temperature, prevent internal short circuits, physical damage, fires, or explosions, and improve battery life.
      • The market for EV BTMS is expected to grow as automakers invest in advanced technologies like nanotechnology, smart windows, and solid-state batteries. BEVs, PHEVs, Hybrid Electric Vehicles (HEVs), and Fuel Cell Electric Vehicles (FCVs) all require thermal management systems to optimize battery power, reduce power consumption, and improve vehicle range. The market for EV BTMS is also influenced by factors such as subsidies, charging infrastructure, battery prices, consumer awareness, charging time, and super-fast chargers. The EV BTMS market is a complex system that includes electronic components such as electric drive, inverter, converter modules, thermal management systems (TMS), and cooling systems.
      • The market is also influenced by factors such as power requirements, performance, reliability, and cost. Companies like Continental, LG Chem, Chevrolet Bolt, Tesla Motors, Gentherm, and others are investing in research and development to improve the efficiency and cost-effectiveness of EV BTMS. The market for EV BTMS is expected to grow as the trend towards electric vehicles continues, with net zero emissions becoming a priority for governments and consumers. The International Energy Agency (IEA) predicts that electric vehicles will account for 60% of passenger car sales by 2040. The market for EV BTMS is also influenced by factors such as climate change, vehicle sales, living standards, spending capacity, and automotive regulations.
      • In conclusion, the market is a critical component of the EV industry, with significant growth potential due to the increasing sales of BEVs and PHEVs. Effective thermal management is essential to optimize battery power, reduce power consumption, and improve vehicle range, while also ensuring safety and reliability. The market for EV BTMS is influenced by various factors, including technology, battery type, charging infrastructure, consumer awareness, and cost. Companies are investing in research and development to improve the efficiency and cost-effectiveness of EV BTMS, and the trend towards electric vehicles is expected to continue, with net zero emissions becoming a priority for governments and consumers.

        • What are the market trends shaping the Electric Vehicle Battery Thermal Management System (EV BTMS) Industry?

        Advances In thermal management technology: PCM and GIHP is the upcoming market trend.

      • The Electric Vehicle (EV) market's growth is driven by the adoption of Lithium-ion batteries as the primary propulsion type in BEVs, PHEVs, and HEVs. Automakers are investing heavily In the development of advanced Components, such as PCM, inverter, converter modules, and TMS, to manage the thermal challenges posed by these batteries. The increasing demand for longer battery life, higher vehicle sales, and improving living standards have led to a focus on reducing CO2 emissions and improving battery capacity. Lithium-ion batteries are susceptible to thermal issues due to their high power consumption and the risk of internal short circuits, physical damage, fires, or explosions.
      • The thermal design of these batteries includes flow channels, coolant, and cooling systems to regulate temperature, especially in extreme climatic conditions. The use of nanotechnology in smart windows, solid-state batteries, and other components is also gaining popularity due to its high energy efficiency, low self-discharge, and high power-to-weight ratio. The EV BTMS market is expected to grow significantly due to the increasing demand for electric vehicles, government subsidies, and the development of charging infrastructure. However, the high cost of battery packs, consumer awareness, charging time, and range anxiety remain significant challenges. OEMs are investing in solid-state batteries, such as those developed by Solid Power, to address these challenges.
      • The market is also witnessing the adoption of advanced technologies like super-fast chargers, solar cells, and microprocessors to improve battery power, longevity, and performance. In conclusion, the EV BTMS market is a critical component of the electric vehicle trend, with Lithium-ion batteries being the primary focus. The market's growth is driven by the need to address thermal management challenges, improve battery life, and reduce CO2 emissions. The development of advanced technologies, such as solid-state batteries and smart cooling systems, is expected to address the challenges of cost, charging time, and range anxiety. The market's future growth is expected to be influenced by factors such as climate change, net zero emissions, and the IEA organization's initiatives.

        • What challenges does the Electric Vehicle Battery Thermal Management System (EV BTMS) Industry face during its growth?

        High capital and maintenance cost is a key challenge affecting the industry growth.

      • The market is witnessing significant growth due to the increasing adoption of Lithium-ion batteries in Electric Vehicles (EVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs). Automakers are investing heavily in developing advanced EV BTMS to ensure the longevity of Lithium-ion batteries, which are susceptible to temperature fluctuations. Components such as Phase Change Materials (PCMs), cooling systems, and smart windows are integral to the EV BTMS. The system's primary function is to regulate battery temperature, ensuring optimal performance and reliability. This is crucial as internal short circuits, physical damage, fires, or explosions can occur due to extreme temperatures.
      • The high cost of raw materials, such as lithium and cobalt, and the complex technology involved in producing solid-state batteries contribute to the high initial investment required for the EV BTMS. Additionally, the increasing demand for longer vehicle ranges, faster charging times, and super-fast chargers necessitates the use of high-power EV BTMS. The EV BTMS market is driven by various factors, including stricter CO2 emission norms, consumer awareness, and the growing trend towards net zero emissions. Moreover, the increasing sales of passenger cars and commercial vehicles, particularly In the BEV segment, are expected to fuel market growth. Despite the challenges, the EV BTMS market offers significant opportunities for growth, particularly In the areas of heat dissipation, power consumption, and weight reduction.
      • Companies such as Continental, LG Chem, Chevrolet Bolt, Tesla Motors, and Gentherm are investing in research and development to improve the efficiency and reliability of EV BTMS. The market is expected to witness significant growth In the coming years, driven by the increasing demand for electric vehicles, advancements in battery technology, and the development of charging infrastructure. However, the high cost of EV BTMS and the risk of battery fires or explosions remain significant challenges that need to be addressed. In conclusion, the EV BTMS market is a critical component of the electric vehicle ecosystem, ensuring optimal battery performance and reliability.
      • Despite the high initial investment required, the market offers significant opportunities for growth, driven by the increasing demand for electric vehicles and advancements in battery technology. However, challenges such as the high cost of EV BTMS and the risk of battery fires or explosions need to be addressed to ensure the widespread adoption of electric vehicles.

        • Exclusive Customer Landscape

        The electric vehicle battery thermal management system (ev btms) market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the electric vehicle battery thermal management system (ev btms) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        Electric Vehicle Battery Thermal Management System (EV BTMS) Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, electric vehicle battery thermal management system (ev btms) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        BMS Powersafe - The market encompasses innovative solutions for managing the temperature of batteries in electric vehicles. Key components include battery cold plates, electronics coolers, and e-motor oil coolers. These systems ensure optimal battery performance and longevity by maintaining a consistent temperature, thereby improving range and efficiency. By effectively managing heat dissipation and cold weather performance, EV BTMS solutions contribute significantly to the overall success of electric vehicle technology.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • BMS Powersafe
        • Dana Inc.
        • Dober
        • DuPont de Nemours Inc.
        • Eberspacher Gruppe GmbH and Co.KG
        • Ewert Energy Systems Inc.
        • Exponential Power Inc.
        • Gentherm Inc.
        • Hanon Systems
        • Infineon Technologies AG
        • Leclanche SA
        • Lithium Balance AS
        • MAHLE GmbH
        • Renesas Electronics Corp.
        • Robert Bosch GmbH
        • STMicroelectronics International N.V.
        • Texas Instruments Inc.
        • Turntide Technologies Inc.
        • Valeo SA
        • VOSS Automotive GmbH

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        Electric Vehicle (EV) Battery Thermal Management Systems (BTMS) Market: An In-depth Analysis of Technology and Performance The Electric Vehicle (EV) market is experiencing significant growth due to increasing consumer awareness and stringent CO2 emission norms. As the demand for EVs surges, the importance of their key components, such as batteries, becomes increasingly apparent. Among these components, the Battery Thermal Management System (BTMS) plays a crucial role in ensuring the optimal performance and longevity of EV batteries. BTMS is a critical subsystem in an EV that regulates the temperature of the battery pack to maintain its efficiency and safety.

        The system is designed to manage the heat generated during charging and discharging cycles and the cold temperatures during operation. This temperature regulation is essential for the battery's overall performance, including power consumption, range, and lifespan. The primary function of BTMS is to maintaIn the battery's average temperature within an optimal range. This temperature control is achieved through various cooling and heating methods. Passive cooling techniques, such as air cooling and natural convection, are commonly used in conventional EVs. In contrast, active cooling systems, such as liquid cooling and phase change materials (PCMs), are employed in high-performance EVs. The BTMS market dynamics are influenced by several factors.

        One of the primary factors is the advancement in battery technology. The transition from conventional lithium-ion batteries to solid-state batteries is expected to significantly impact the BTMS market. Solid-state batteries offer advantages such as high energy efficiency, high power-to-weight ratio, and low self-discharge. However, they require advanced cooling systems to manage the heat generated during charging and discharging cycles. Another factor influencing the BTMS market is the increasing demand for EVs in various sectors, including passenger cars and commercial vehicles. The passenger car segment is expected to dominate the market due to the growing popularity of EVs among consumers.

        In contrast, the commercial vehicle segment is expected to witness significant growth due to the increasing adoption of EVs in logistics and transportation industries. The BTMS market is also influenced by the regulatory landscape. Governments worldwide are implementing policies to reduce carbon emissions and promote the adoption of EVs. These policies include subsidies, tax incentives, and charging infrastructure development. However, the lack of standardized regulations regarding battery safety and thermal management poses a challenge to market growth. The BTMS market is a complex ecosystem, involving various players, including OEMs, battery manufacturers, and component suppliers. The OEMs are the primary consumers of BTMS, as they integrate the systems into their EVs.

        Battery manufacturers, such as LG Chem and Continental, also play a significant role In the market, as they develop and manufacture batteries with integrated BTMS. Component suppliers, such as Gentherm and Lithium-ion battery manufacturers, provide cooling and heating components, such as PCMs and cooling systems. The BTMS market is expected to witness significant growth In the coming years due to the increasing demand for EVs and the need for advanced thermal management systems to ensure their optimal performance and safety. The market is also expected to be driven by the development of advanced battery technologies, such as solid-state batteries, and the increasing adoption of EVs in various sectors.

        In conclusion, the Electric Vehicle Battery Thermal Management System (BTMS) market is a critical component of the EV ecosystem. The market is influenced by several factors, including battery technology, regulatory landscape, and market dynamics. The market is expected to witness significant growth due to the increasing demand for EVs and the need for advanced thermal management systems to ensure their optimal performance and safety. The transition to solid-state batteries and the increasing adoption of EVs in various sectors are expected to be key drivers of market growth.

        Market Scope

        Report Coverage

        Details

        Page number

        182

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 47.99%

        Market growth 2024-2028

        USD 46876.4 million

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        33.79

        Key countries

        China, US, Japan, Germany, and South Korea

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        What are the Key Data Covered in this Electric Vehicle Battery Thermal Management System (EV BTMS) Market Research and Growth Report?

        • CAGR of the Electric Vehicle Battery Thermal Management System (EV BTMS) industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the electric vehicle battery thermal management system (ev btms) market growth of industry companies

        We can help! Our analysts can customize this electric vehicle battery thermal management system (ev btms) market research report to meet your requirements.

        Get in touch

         

        1 Executive Summary

        • 1.1 Market overview
          • Executive Summary - Chart on Market Overview
          • Executive Summary - Data Table on Market Overview
          • Executive Summary - Chart on Global Market Characteristics
          • Executive Summary - Chart on Market by Geography
          • Executive Summary - Chart on Market Segmentation by Battery Type
          • Executive Summary - Chart on Market Segmentation by Vehicle Type
          • Executive Summary - Chart on Incremental Growth
          • Executive Summary - Data Table on Incremental Growth
          • Executive Summary - Chart on Company Market Positioning

        2 Market Landscape

        • 2.1 Market ecosystem
          • Parent Market
          • Data Table on - Parent Market
        • 2.2 Market characteristics
          • Market characteristics analysis
        • 2.3 Value chain analysis
          • Value Chain Analysis

        3 Market Sizing

        • 3.1 Market definition
          • Offerings of companies included in the market definition
        • 3.2 Market segment analysis
          • Market segments
        • 3.3 Market size 2023
          • 3.4 Market outlook: Forecast for 2023-2028
            • Chart on Global - Market size and forecast 2023-2028 ($ million)
            • Data Table on Global - Market size and forecast 2023-2028 ($ million)
            • Chart on Global Market: Year-over-year growth 2023-2028 (%)
            • Data Table on Global Market: Year-over-year growth 2023-2028 (%)

          4 Historic Market Size

          • 4.1 Global Electric Vehicle Battery Thermal Management System (EV BTMS) Market 2018 - 2022
            • Historic Market Size - Data Table on Global Electric Vehicle Battery Thermal Management System (EV BTMS) Market 2018 - 2022 ($ million)
          • 4.2 Battery Type segment analysis 2018 - 2022
            • Historic Market Size - Battery Type Segment 2018 - 2022 ($ million)
          • 4.3 Vehicle Type segment analysis 2018 - 2022
            • Historic Market Size - Vehicle Type Segment 2018 - 2022 ($ million)
          • 4.4 Geography segment analysis 2018 - 2022
            • Historic Market Size - Geography Segment 2018 - 2022 ($ million)
          • 4.5 Country segment analysis 2018 - 2022
            • Historic Market Size - Country Segment 2018 - 2022 ($ million)

          5 Five Forces Analysis

          • 5.1 Five forces summary
            • Five forces analysis - Comparison between 2023 and 2028
          • 5.2 Bargaining power of buyers
            • Bargaining power of buyers - Impact of key factors 2023 and 2028
          • 5.3 Bargaining power of suppliers
            • Bargaining power of suppliers - Impact of key factors in 2023 and 2028
          • 5.4 Threat of new entrants
            • Threat of new entrants - Impact of key factors in 2023 and 2028
          • 5.5 Threat of substitutes
            • Threat of substitutes - Impact of key factors in 2023 and 2028
          • 5.6 Threat of rivalry
            • Threat of rivalry - Impact of key factors in 2023 and 2028
          • 5.7 Market condition
            • Chart on Market condition - Five forces 2023 and 2028

          6 Market Segmentation by Battery Type

          • 6.1 Market segments
            • Chart on Battery Type - Market share 2023-2028 (%)
            • Data Table on Battery Type - Market share 2023-2028 (%)
          • 6.2 Comparison by Battery Type
            • Chart on Comparison by Battery Type
            • Data Table on Comparison by Battery Type
          • 6.3 Li-ion - Market size and forecast 2023-2028
            • Chart on Li-ion - Market size and forecast 2023-2028 ($ million)
            • Data Table on Li-ion - Market size and forecast 2023-2028 ($ million)
            • Chart on Li-ion - Year-over-year growth 2023-2028 (%)
            • Data Table on Li-ion - Year-over-year growth 2023-2028 (%)
          • 6.4 Lead-acid - Market size and forecast 2023-2028
            • Chart on Lead-acid - Market size and forecast 2023-2028 ($ million)
            • Data Table on Lead-acid - Market size and forecast 2023-2028 ($ million)
            • Chart on Lead-acid - Year-over-year growth 2023-2028 (%)
            • Data Table on Lead-acid - Year-over-year growth 2023-2028 (%)
          • 6.5 Others - Market size and forecast 2023-2028
            • Chart on Others - Market size and forecast 2023-2028 ($ million)
            • Data Table on Others - Market size and forecast 2023-2028 ($ million)
            • Chart on Others - Year-over-year growth 2023-2028 (%)
            • Data Table on Others - Year-over-year growth 2023-2028 (%)
          • 6.6 Market opportunity by Battery Type
            • Market opportunity by Battery Type ($ million)
            • Data Table on Market opportunity by Battery Type ($ million)

          7 Market Segmentation by Vehicle Type

          • 7.1 Market segments
            • Chart on Vehicle Type - Market share 2023-2028 (%)
            • Data Table on Vehicle Type - Market share 2023-2028 (%)
          • 7.2 Comparison by Vehicle Type
            • Chart on Comparison by Vehicle Type
            • Data Table on Comparison by Vehicle Type
          • 7.3 Passenger vehicle - Market size and forecast 2023-2028
            • Chart on Passenger vehicle - Market size and forecast 2023-2028 ($ million)
            • Data Table on Passenger vehicle - Market size and forecast 2023-2028 ($ million)
            • Chart on Passenger vehicle - Year-over-year growth 2023-2028 (%)
            • Data Table on Passenger vehicle - Year-over-year growth 2023-2028 (%)
          • 7.4 Commercial vehicle - Market size and forecast 2023-2028
            • Chart on Commercial vehicle - Market size and forecast 2023-2028 ($ million)
            • Data Table on Commercial vehicle - Market size and forecast 2023-2028 ($ million)
            • Chart on Commercial vehicle - Year-over-year growth 2023-2028 (%)
            • Data Table on Commercial vehicle - Year-over-year growth 2023-2028 (%)
          • 7.5 Market opportunity by Vehicle Type
            • Market opportunity by Vehicle Type ($ million)
            • Data Table on Market opportunity by Vehicle Type ($ million)

          8 Customer Landscape

          • 8.1 Customer landscape overview
            • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

          9 Geographic Landscape

          • 9.1 Geographic segmentation
            • Chart on Market share by geography 2023-2028 (%)
            • Data Table on Market share by geography 2023-2028 (%)
          • 9.2 Geographic comparison
            • Chart on Geographic comparison
            • Data Table on Geographic comparison
          • 9.3 APAC - Market size and forecast 2023-2028
            • Chart on APAC - Market size and forecast 2023-2028 ($ million)
            • Data Table on APAC - Market size and forecast 2023-2028 ($ million)
            • Chart on APAC - Year-over-year growth 2023-2028 (%)
            • Data Table on APAC - Year-over-year growth 2023-2028 (%)
          • 9.4 North America - Market size and forecast 2023-2028
            • Chart on North America - Market size and forecast 2023-2028 ($ million)
            • Data Table on North America - Market size and forecast 2023-2028 ($ million)
            • Chart on North America - Year-over-year growth 2023-2028 (%)
            • Data Table on North America - Year-over-year growth 2023-2028 (%)
          • 9.5 Europe - Market size and forecast 2023-2028
            • Chart on Europe - Market size and forecast 2023-2028 ($ million)
            • Data Table on Europe - Market size and forecast 2023-2028 ($ million)
            • Chart on Europe - Year-over-year growth 2023-2028 (%)
            • Data Table on Europe - Year-over-year growth 2023-2028 (%)
          • 9.6 South America - Market size and forecast 2023-2028
            • Chart on South America - Market size and forecast 2023-2028 ($ million)
            • Data Table on South America - Market size and forecast 2023-2028 ($ million)
            • Chart on South America - Year-over-year growth 2023-2028 (%)
            • Data Table on South America - Year-over-year growth 2023-2028 (%)
          • 9.7 Middle East and Africa - Market size and forecast 2023-2028
            • Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
            • Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
            • Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
            • Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
          • 9.8 China - Market size and forecast 2023-2028
            • Chart on China - Market size and forecast 2023-2028 ($ million)
            • Data Table on China - Market size and forecast 2023-2028 ($ million)
            • Chart on China - Year-over-year growth 2023-2028 (%)
            • Data Table on China - Year-over-year growth 2023-2028 (%)
          • 9.9 US - Market size and forecast 2023-2028
            • Chart on US - Market size and forecast 2023-2028 ($ million)
            • Data Table on US - Market size and forecast 2023-2028 ($ million)
            • Chart on US - Year-over-year growth 2023-2028 (%)
            • Data Table on US - Year-over-year growth 2023-2028 (%)
          • 9.10 Japan - Market size and forecast 2023-2028
            • Chart on Japan - Market size and forecast 2023-2028 ($ million)
            • Data Table on Japan - Market size and forecast 2023-2028 ($ million)
            • Chart on Japan - Year-over-year growth 2023-2028 (%)
            • Data Table on Japan - Year-over-year growth 2023-2028 (%)
          • 9.11 Germany - Market size and forecast 2023-2028
            • Chart on Germany - Market size and forecast 2023-2028 ($ million)
            • Data Table on Germany - Market size and forecast 2023-2028 ($ million)
            • Chart on Germany - Year-over-year growth 2023-2028 (%)
            • Data Table on Germany - Year-over-year growth 2023-2028 (%)
          • 9.12 South Korea - Market size and forecast 2023-2028
            • Chart on South Korea - Market size and forecast 2023-2028 ($ million)
            • Data Table on South Korea - Market size and forecast 2023-2028 ($ million)
            • Chart on South Korea - Year-over-year growth 2023-2028 (%)
            • Data Table on South Korea - Year-over-year growth 2023-2028 (%)
          • 9.13 Market opportunity by geography
            • Market opportunity by geography ($ million)
            • Data Tables on Market opportunity by geography ($ million)

          10 Drivers, Challenges, and Opportunity/Restraints

          • 10.1 Market drivers
            • 10.2 Market challenges
              • 10.3 Impact of drivers and challenges
                • Impact of drivers and challenges in 2023 and 2028
              • 10.4 Market opportunities/restraints

                11 Competitive Landscape

                • 11.1 Overview
                  • 11.2 Competitive Landscape
                    • Overview on criticality of inputs and factors of differentiation
                  • 11.3 Landscape disruption
                    • Overview on factors of disruption
                  • 11.4 Industry risks
                    • Impact of key risks on business

                  12 Competitive Analysis

                  • 12.1 Companies profiled
                    • Companies covered
                  • 12.2 Market positioning of companies
                    • Matrix on companies position and classification
                  • 12.3 Dana Inc.
                    • Dana Inc. - Overview
                    • Dana Inc. - Business segments
                    • Dana Inc. - Key news
                    • Dana Inc. - Key offerings
                    • Dana Inc. - Segment focus
                  • 12.4 Dober
                    • Dober - Overview
                    • Dober - Product / Service
                    • Dober - Key offerings
                  • 12.5 DuPont de Nemours Inc.
                    • DuPont de Nemours Inc. - Overview
                    • DuPont de Nemours Inc. - Business segments
                    • DuPont de Nemours Inc. - Key news
                    • DuPont de Nemours Inc. - Key offerings
                    • DuPont de Nemours Inc. - Segment focus
                  • 12.6 Eberspacher Gruppe GmbH and Co.KG
                    • Eberspacher Gruppe GmbH and Co.KG - Overview
                    • Eberspacher Gruppe GmbH and Co.KG - Product / Service
                    • Eberspacher Gruppe GmbH and Co.KG - Key news
                    • Eberspacher Gruppe GmbH and Co.KG - Key offerings
                  • 12.7 Gentherm Inc.
                    • Gentherm Inc. - Overview
                    • Gentherm Inc. - Business segments
                    • Gentherm Inc. - Key news
                    • Gentherm Inc. - Key offerings
                    • Gentherm Inc. - Segment focus
                  • 12.8 Hanon Systems
                    • Hanon Systems - Overview
                    • Hanon Systems - Business segments
                    • Hanon Systems - Key news
                    • Hanon Systems - Key offerings
                    • Hanon Systems - Segment focus
                  • 12.9 Infineon Technologies AG
                    • Infineon Technologies AG - Overview
                    • Infineon Technologies AG - Business segments
                    • Infineon Technologies AG - Key news
                    • Infineon Technologies AG - Key offerings
                    • Infineon Technologies AG - Segment focus
                  • 12.10 Leclanche SA
                    • Leclanche SA - Overview
                    • Leclanche SA - Business segments
                    • Leclanche SA - Key offerings
                    • Leclanche SA - Segment focus
                  • 12.11 MAHLE GmbH
                    • MAHLE GmbH - Overview
                    • MAHLE GmbH - Business segments
                    • MAHLE GmbH - Key news
                    • MAHLE GmbH - Key offerings
                    • MAHLE GmbH - Segment focus
                  • 12.12 Renesas Electronics Corp.
                    • Renesas Electronics Corp. - Overview
                    • Renesas Electronics Corp. - Business segments
                    • Renesas Electronics Corp. - Key news
                    • Renesas Electronics Corp. - Key offerings
                    • Renesas Electronics Corp. - Segment focus
                  • 12.13 Robert Bosch GmbH
                    • Robert Bosch GmbH - Overview
                    • Robert Bosch GmbH - Product / Service
                    • Robert Bosch GmbH - Key news
                    • Robert Bosch GmbH - Key offerings
                  • 12.14 STMicroelectronics International N.V.
                    • STMicroelectronics International N.V. - Overview
                    • STMicroelectronics International N.V. - Business segments
                    • STMicroelectronics International N.V. - Key news
                    • STMicroelectronics International N.V. - Key offerings
                    • STMicroelectronics International N.V. - Segment focus
                  • 12.15 Texas Instruments Inc.
                    • Texas Instruments Inc. - Overview
                    • Texas Instruments Inc. - Business segments
                    • Texas Instruments Inc. - Key news
                    • Texas Instruments Inc. - Key offerings
                    • Texas Instruments Inc. - Segment focus
                  • 12.16 Valeo SA
                    • Valeo SA - Overview
                    • Valeo SA - Business segments
                    • Valeo SA - Key news
                    • Valeo SA - Key offerings
                    • Valeo SA - Segment focus
                  • 12.17 VOSS Automotive GmbH
                    • VOSS Automotive GmbH - Overview
                    • VOSS Automotive GmbH - Product / Service
                    • VOSS Automotive GmbH - Key offerings

                  13 Appendix

                  • 13.1 Scope of the report
                    • 13.2 Inclusions and exclusions checklist
                      • Inclusions checklist
                      • Exclusions checklist
                    • 13.3 Currency conversion rates for US$
                      • Currency conversion rates for US$
                    • 13.4 Research methodology
                      • Research methodology
                    • 13.5 Data procurement
                      • Information sources
                    • 13.6 Data validation
                      • Data validation
                    • 13.7 Validation techniques employed for market sizing
                      • Validation techniques employed for market sizing
                    • 13.8 Data synthesis
                      • Data synthesis
                    • 13.9 360 degree market analysis
                      • 360 degree market analysis
                    • 13.10 List of abbreviations
                      • List of abbreviations

                    Research Methodology

                    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                    INFORMATION SOURCES

                    Primary sources

                    • Manufacturers and suppliers
                    • Channel partners
                    • Industry experts
                    • Strategic decision makers

                    Secondary sources

                    • Industry journals and periodicals
                    • Government data
                    • Financial reports of key industry players
                    • Historical data
                    • Press releases

                    DATA ANALYSIS

                    Data Synthesis

                    • Collation of data
                    • Estimation of key figures
                    • Analysis of derived insights

                    Data Validation

                    • Triangulation with data models
                    • Reference against proprietary databases
                    • Corroboration with industry experts

                    REPORT WRITING

                    Qualitative

                    • Market drivers
                    • Market challenges
                    • Market trends
                    • Five forces analysis

                    Quantitative

                    • Market size and forecast
                    • Market segmentation
                    • Geographical insights
                    • Competitive landscape

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                    Frequently Asked Questions

                    Electric Vehicle Battery Thermal Management System (EV BTMS) market growth will increase by $ 46876.4 mn during 2024-2028 .

                    The Electric Vehicle Battery Thermal Management System (EV BTMS) market is expected to grow at a CAGR of 47.99% during 2024-2028 .

                    Electric Vehicle Battery Thermal Management System (EV BTMS) market is segmented by Battery Type( Li-ion, Lead-acid, Others, South America, Middle East and Africa) Vehicle Type( Passenger vehicle, Commercial vehicle, APAC, South America, MEA)

                    BMS Powersafe, Dana Inc., Dober, DuPont de Nemours Inc., Eberspacher Gruppe GmbH and Co.KG, Ewert Energy Systems Inc., Exponential Power Inc., Gentherm Inc., Hanon Systems, Infineon Technologies AG, Leclanche SA, Lithium Balance AS, MAHLE GmbH, Renesas Electronics Corp., Robert Bosch GmbH, STMicroelectronics International N.V., Texas Instruments Inc., Turntide Technologies Inc., Valeo SA, VOSS Automotive GmbH are a few of the key vendors in the Electric Vehicle Battery Thermal Management System (EV BTMS) market.

                    APAC will register the highest growth rate of 41% among the other regions. Therefore, the Electric Vehicle Battery Thermal Management System (EV BTMS) market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

                    China, US, Japan, Germany, South Korea

                    • Increasing demand for EVs and their expanded applicationsThe market under focus is directly driven by the growing sales of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).  In terms of regional contribution is the driving factor this market.
                    • China dominated the sales of battery electric vehicles in 2022 is the driving factor this market.
                    • followed by Europe (led by Norway is the driving factor this market.
                    • Iceland is the driving factor this market.
                    • and Sweden) and the US. The sales of all-electric vehicles registered a considerable increase in 2022 as well. Factors such as advances in electric vehicle technologies is the driving factor this market.
                    • improvements in charging infrastructure is the driving factor this market.
                    • and improving socio-economic conditions are expected to fuel the demand for BEVs during the forecast period. Growing demand for BEVs and PHEVs is contributing to revenue generation in the market in focus.The HEVs markets will register significant growth during the forecast period due to the following factors:A shift to green cars (vehicles that run on only electricity and other power sources such as solar is the driving factor this market.
                    • wind is the driving factor this market.
                    • and biofuels) is a solution for reducing fuel emissions and GHG emissions.Globally is the driving factor this market.
                    • countries have come up with stringent emission norms to reduce the cause of global warming to an extent. Governments are making efforts to minimize the impact of global warming and reduce the emission of GHGs.Many countries are providing various incentives and tax benefits to increase the adoption of green vehicles. Almost all top vehicle markets have introduced fiscal incentives and subsidies to attract manufacturers to produce more HEVs and EVs locally.EV powertrain has currently found applications in normal internal combustion engine vehicles such as 48V systems is the driving factor this market.
                    • start-stop/micro-hybrid systems is the driving factor this market.
                    • and regenerative braking systems. This has drastically increased the workload on batteries is the driving factor this market.
                    • thereby increasing the demand for an EV BTMS solution that enables a wider operating temperature range is the driving factor this market.
                    • enhances the lifespan of the battery is the driving factor this market.
                    • and increases the range of EVs. Therefore is the driving factor this market.
                    • these factors will drive the global EV BTMS market during the forecast period. is the driving factor this market.

                    The Electric Vehicle Battery Thermal Management System (EV BTMS) market vendors should focus on grabbing business opportunities from the Li-ion segment as it accounted for the largest market share in the base year.