Automotive Battery Thermal Management System Market Research, 2032
The Global Automotive Battery Thermal Management System Market was valued at $4.6 billion in 2022, and is projected to reach $18.7 billion by 2032, growing at a CAGR of 15.6% from 2023 to 2032.
An automotive battery thermal management system is the device responsible for managing the heat produced during the electrochemical processes occurring in cells, allowing the battery to operate efficiently and safely. The automotive battery thermal management system keeps the temperature in a battery pack within a fixed range. Moreover, automobile manufacturers are inclined toward electric and alternative fuel vehicles owing to the increase in automotive battery thermal management system for better range.
The Automotive Battery Thermal Management System Industry refers to the market for technologies and systems that help manage the temperature of batteries in electric vehicles (EVs) and hybrid electric vehicles (HEVs). These systems are designed to maintain the battery at an optimal temperature range, which can help improve the battery's performance and extend its life.
The demand for Automotive Battery Thermal Management System Industry is driven by the growth in popularity of EVs and HEVs, as well as the need to improve battery performance and reduce the risk of battery failure. In addition, regulations aimed at reducing emissions drive automakers to develop more efficient and reliable electric powertrains.
The market for automotive battery thermal management systems is expected to grow significantly in the coming years driven by the increase in adoption of EVs and HEVs.
Segment Overview
The Automotive Battery Thermal Management System Market Outlook is segmented into Type, Vehicle Type, Technology and Propulsion.
By type, it is bifurcated into conventional and solid-state automotive battery thermal management market. In 2022, the conventional segment dominated the market, in terms of revenue.
By vehicle type, it is classified into passenger vehicles and commercial vehicles. The commercial vehicles segment acquired the largest share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032.
By technology, it is categorized into active, passive and hybrid. The active segment acquired the largest share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032.
By propulsion, it is divided into hybrid electric vehicles (HEVs), plug-in hybrid electric vehicle (PHEVs), fuel cell electric vehicle (FCEV), and battery electric vehicle (BEVs). Battery electric vehicle (BEVs) generated the largest revenue in 2022.
By region, the automotive battery thermal management system market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific accounted for the highest market share in 2022, owing to the expansion of the electronics market and rise in sales of electric vehicles (EVs). Europe was the second largest contributor in 2022, in terms of revenue and is expected to witness significant growth during the forecast period owing to rise in demand for passenger vehicles.
Country-wise, the U.S. acquired a prime share in the Automotive Battery Thermal Management System Market Growth in the North American region and is expected to grow at a significant CAGR during the forecast period of 2023-2032.
In Europe, Germany, dominated the automotive battery thermal management system market, in terms of revenue, in 2022 and is expected to follow the same trend during the forecast period. However, the UK and the rest of Europe are expected to emerge as the fastest-growing country in Europe's automotive battery thermal management system with a CAGR of 14.68% and 15.44%, respectively.
In Asia-Pacific, India is expected to emerge as a significant market for the automotive battery thermal management system market industry, owing to a significant rise in investment by prime players in the region.
By the LAMEA region, Latin America garner a significant market share in 2022. The LAMEA automotive battery thermal management system market has been witnessing improvement, owing to the growing inclination of companies towards research and development and expanding manufacturing units across this region. Moreover, the Africa region is expected to grow at a high CAGR of 15.11% from 2023 to 2032.
Competitive Analysis
Competitive analysis and profiles of the major global automotive battery thermal management system market players that have been provided in the report include MAHLE GmbH, LG Chem, Valeo, Hanon Systems, Samsung SDI Co., Ltd., Dana Limited, Continental AG, Gentherm Inc, Calsonic Kansei Corporation (Marelli Corporation) and Robert Bosch GmbH. These key players have adopted several strategies such as new product launch & development, acquisition, partnership, collaboration, and business expansion to increase the automotive battery thermal management system market share during the forecast period.
Top Impacting Factors
The automotive battery thermal management system market analysis is anticipated to expand significantly during the forecast period including a surge in demand for high-performance, fuel-efficient, & low emission vehicles and stringent government rules & regulations toward vehicle emission. However, high development cost associated with automotive battery thermal management systems may hamper the market growth. Furthermore, innovation in battery cooling systems provides lucrative automotive battery thermal management system market opportunities for market growth.
Historical Data & Information
The global automotive battery thermal management system market is highly competitive, owing to the strong presence of existing vendors. Vendors of the automotive battery thermal management system market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
LG Chem, Valeo, Hanon Systems, Samsung SDI Co., Ltd., Dana Limited, Gentherm Inc, Calsonic Kansei Corporation (Marelli Corporation) and Robert Bosch GmbH are the top companies holding a prime share in the automotive battery thermal management system market. Top market players have adopted various strategies, such as product launch, acquisition, expansion, and others to expand their foothold in the automotive battery thermal management system market.
- In April 2023, Valeo expanded presence in Japan with the opening of a production site in the heart of the Fukuoka region, an important hub for Japanese carmakers. The plant in Kanda is part of Valeo Thermal Systems and produces high-performance active grille shutters and heating, ventilation, and air conditioning systems (HVAC).
- In October 2022, Valeo secured order once again, signed a contract with Stellantis in the field of thermal comfort for electric cars. The Group supplied the automaker with a heat pump solution and provide a good technology for its next electric platform.
- In February 2023, Marelli awarded a contract to supply its Battery Management System (BMS) for the future BEV (Battery Electric Vehicles) small-medium cars. Within the project, Marelli will provide both the hardware and the boot loader software of the Battery Management System for segment A, B, and C full electric vehicles. The supply represents a significant achievement in terms of production volumes.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the automotive battery thermal management system market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall automotive battery thermal management system market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current automotive battery thermal management system market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
Automotive Battery Thermal Management System Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 18.7 billion |
 Growth Rate | CAGR of 15.6% |
 Forecast period | 2022 - 2032 |
 Report Pages | 414 |
 By Type |
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 By Vehicle Type |
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 By Technology |
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 By Propulsion |
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 By Region |
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 Key Market Players | MAHLE GmbH, Hanon Systems, Samsung SDI Co., Ltd., Robert Bosch GmbH, Continental AG, Calsonic Kansei Corporation (Marelli Corporation), Gentherm Inc, Valeo, Dana Limited, LG Chem |
Analyst Review
The automotive battery thermal management system market holds a substantial scope for growth globally. Currently, it is in its growing stage. Moreover, there is an increase in demand for automotive battery thermal management systems due to their wide usage in electric vehicles. Manufacturers of electric vehicles have incorporated more automotive battery thermal management systems to add additional features and keep ahead of other players in the highly competitive market.
Miniaturization and system integration are at the forefront of automotive electronics design, driven by consumer demand for cars with improved fuel efficiency, increased safety, seamless communication, and autonomous capabilities. As a result, circuit design has developed to satisfy the requirement for higher energy output. Thermal management becomes an issue when electronic components decrease, and energy density rises. As smaller devices have less accessible surface area to function as heatsinks, dispersing heat from these systems remains an operational and safety concern. Thermal management is a growing concern in vehicle design that makes use of sophisticated thermal interface materials (TIMs) to optimize heat transmission away from circuits.
The major companies profiled in the report include MAHLE GmbH, LG Chem, Valeo, Hanon Systems, Samsung SDI Co., Ltd., Dana Limited, Continental AG, Gentherm Inc, Calsonic Kansei Corporation (Marelli Corporation) and Robert Bosch GmbH.
Battery electric vehicles is the leading propulsion type of automotive battery thermal management system market.
The upcoming trends of automotive battery thermal management system market include a surge in demand for high-performance, fuel-efficient, & low emission vehicles and stringent government rules & regulations toward vehicle emission.
Asia-Pacific is the largest regional market for automotive battery thermal management system market.
The global automotive battery thermal management system market was valued at $4.6 billion in 2022..
Valeo, Samsung SDI Co. Dana Limited, LG Chem, and Robert Bosch Gmbh are the top companies to hold the market share in Automotive Battery Thermal Management System market.
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