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The global Battery Thermal Management System market is expected to witness decent during the forecast period

Market overview

The Automotive Battery Thermal Management System market  will register a CAGR of 4% during the 2017 to 2023 period. The Automotive Battery Thermal Management System market  involves many digital hardware devices to prevent risks such as battery failure and overcome other hazardous risks. The system makes sure the battery is operating properly and maintain its application. The government initiates for tax exemption, changing lifestyle of people rising awareness to adapt the electric vehicles boost the market growth.

The higher density of the vehicles and longer battery life are driving factors for the market. The installation and manufacturing cost of the market is high lowers the market growth is impacting the market. In COVID 19, both value and supply chain got disrupted. Many manufacturing sectors had to stop the process for a particular period. The reduced workforce, non-efficient production and several others factors led to the decreases in the market in the pandemic period. Although with the COVID 19 vaccine, many industries are again starting to grow globally.

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Market segmentation

The Automotive Battery Thermal Management System market  is divided based on propulsion, technology and vehicle type. The market is segregated into passenger and commercial based on the vehicle type segment. Due to a large number of vehicles, easy availability and increases in the disposable income and shifting of the consumers from traditional to newly advanced cars increasing the passenger segment and the segment is dominating the market.

The rapid urbanization increases spending the luxurious materials changing living standards are more factors that impact the growth of the passenger segment. The segment is growing quickly and will with the same value in the forecast period. Limited demand for commercial vehicles is making the segment grow significantly; the growth will increase shortly.

The segment technology bifurcates the Automotive Battery Thermal Management System market  into liquid, air, thermoelectrics, and phase change materials. The liquid system is expected to hold the largest market as using the liquid coolant, the vehicle's performance remains high, which increases the vehicle's safety. The phase change material is growing significantly will also contribute to the market growth during the forecast period. EEV, HEV, FCV, PHEV are divided by the market segment propulsion.

As HEV offers a dual transmission electric and conventional fuel-based driving range mostly in the region where charging infrastructure is insufficient, the segment holds the largest market value among other segments. The growing demand for passenger and fuel-efficient vehicles increases the BEV segment's growth, and the segment will showcase growth in the forecast period.

Report Attribute

Details

Forecast Period

2022 - 2030

Market Growth value

XX % CAGR

Revenue forecast in 2022-2030

USD XX billion

Base year for estimation

2021

Historical data

2019 – 2020

Unit

USD Billion, CAGR (2021 – 2030)

 

FAQ’s:

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Regional analysis

The Automotive Battery Thermal Management System market  is studied in Europe, Asia Pacific, North America and other parts. The Asia Pacific region is expected to dominate the market due to the government's plans for electric vehicles and investment in huge amounts in electric vehicles. The presence of prominent thermal industries in the North American region propels the market growth in the region.

Industry news

In Audi Q4e-Tron, the charging capacity and online features expanded, ensuring faster charge time and large battery models.

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