Automotive Battery Thermal Management System Market Booming by Increase in Demand for Electric Vehicles

The automotive battery thermal management system is a growing technology that can efficiently control the battery temperature enabling critical safeguards to protect the batteries from damage and prolong the battery life and efficiency. This technology is

(EMAILWIRE.COM, October 16, 2018 ) The Automotive Battery Thermal Management System is a growing technology that can efficiently control the battery temperature enabling critical safeguards to protect the batteries from damage and prolong the battery life and efficiency. This technology is based on thermodynamics and heat transfer; it utilizes principles such as cooling, heating, insulation, and ventilation to regulate the distribution of temperature. It is considered as the life jacket of the battery in the vehicle.
Currently, the adoption of the automotive battery thermal management system is increasing at a fast rate. The consumers want to get increased miles driven in a single charge with utmost safety. The automotive battery thermal management system offers improved battery performance and improves the range of the vehicle. The increasing “electric vehicle” propensity of consumers is thus driving the automotive battery thermal management system market.

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Ambitious Electric Vehicle (EV) targets and policy support from governments have resulted into the lowering of EV costs, along with other influential factors such as extended vehicle range and improved charging infrastructure, which has further fueled the demand for electric vehicles globally. The Electric Vehicles Initiative (EVI), which is a multi-government policy forum dedicated to accelerating the introduction and adoption of electric vehicles worldwide, has set a target of reaching an electric car fleet of 20 million by 2020 globally. The Paris Declaration on Electro-Mobility and Climate Change have also set a similar global deployment target of 100 million electric cars by 2030.
The integration of automotive battery thermal management system with other electric thermal management systems is another key factor driving the automotive thermal management system market. Traditionally, the auto manufacturers and suppliers were using the battery thermal management system just to manage the battery temperature, but due to technological advancement and need to decrease the vehicle weight, OEMs and suppliers are now integrating the battery thermal management system with other electrical components Thermal Management Systems (TMS) of the vehicle. This approach or module have enabled the developer and OEMs in achieving utmost efficiency at low cost. The system manufacturers and developers now have started integrating the electronic components in the same module of thermal management such as integrating power electronics components into the same module such as Belt Starter Generator (BSG), electric drive (motor, generator, and inverter), and inverter-converter modules.

Market Dynamics
Drivers
• Automotive battery thermal management system plays a crucial role in improving battery performance and efficiency
• Integration of automotive battery thermal management system with other electric thermal management systems
• Increase in demand for electric vehicles
• Increase in miles driven by electric vehicles
Restraints
• Design complexities in components used for battery thermal management system
• Electric vehicles yet to become the mainstream
Opportunities
• Increasing adoption of new technologies in lithium-ion batteries
• Growing trend of battery-driven public transport
Challenges
• Increased Continues change in technology
• Huge capital and R&D cost
• Fast charging technology and reducing battery size resulted in high heat generation

The automotive battery thermal management system market is estimated to be USD 1.01 Billion in 2016 and is projected to reach USD 4.24 Billion by 2025, at a CAGR of 16.05% during the forecast period. The market growth is primarily driven by the integration of automotive battery thermal management system with other electric thermal management systems. Continental (Germany), LG Chem, Ltd. (South Korea), Gentherm (US), Robert Bosch (Germany), and Valeo (France) are some of the leading players in the automotive battery thermal management system market.

Alternative Keywords: Automobile Battery Thermal Management, Vehicle Battery Thermal Management, Thermal Management of Automotive Battery, Thermal Management of Vehicle Battery

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