Global Electric Vehicle Battery Thermal Management Systems Market Size Study, by Propulsion, by Offering, by Technology, by Battery Type, by Battery Capacity, by Vehicle Type, and Regional Forecasts 2022-2032

Description

The Global Electric Vehicle Battery Thermal Management Systems Market is valued at approximately USD 3.23 billion in 2023 and is poised to grow at a robust compound annual growth rate (CAGR) of 14.7% during the forecast period from 2024 to 2032. The rising demand for electric vehicles (EVs) across the globe has heightened the need for efficient battery thermal management systems (BTMS). These systems are critical to ensuring the safety, longevity, and performance of EV batteries, particularly as advancements in EV technology push the boundaries of energy density and charging speed. By integrating active, passive, and hybrid thermal management technologies, BTMS provides effective solutions to mitigate overheating, thermal runaways, and power loss, which are key concerns in EV adoption.

The market is fueled by the accelerating transition to electrified transportation, driven by stringent environmental regulations and incentives promoting zero-emission vehicles. Technological innovations in BTMS, such as liquid cooling systems and phase-change materials, have significantly improved the energy efficiency and reliability of EV batteries. However, the high cost of advanced BTMS technologies and their integration into EV architectures presents a notable challenge. Nevertheless, ongoing R&D efforts and economies of scale are expected to reduce costs over the forecast period, thereby bolstering market growth.

The applications of BTMS extend beyond passenger vehicles to encompass commercial EVs and electric two-wheelers. As electric buses and delivery vans gain traction in urban mobility solutions, the need for scalable, efficient BTMS solutions becomes paramount. Furthermore, advancements in battery capacity and energy storage are expanding the scope of BTMS to support high-performance EVs, fostering innovation in the sector.

Regionally, North America dominates the market due to its established EV ecosystem, supportive government policies, and a significant presence of key automotive players. Europe follows closely, driven by stringent carbon neutrality targets and expanding EV infrastructure. Meanwhile, the Asia-Pacific region is projected to exhibit the fastest growth during the forecast period, bolstered by government subsidies, rapid urbanization, and the increasing production of EVs in countries like China, Japan, and South Korea.

Major market players included in this report are:

LG Chem
Valeo
Gentherm Inc.
Mahle GmbH
Denso Corporation
Hanon Systems
Dana Incorporated
Continental AG
Samsung SDI
Robert Bosch GmbH
Panasonic Corporation
Calsonic Kansei Corporation
Voss Automotive GmbH
BYD Company Ltd.
Hitachi Automotive Systems, Ltd.

The detailed segments and sub-segment of the market are explained below:

By Propulsion:

Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Fuel Cell Electric Vehicle (FCEV)

By Offering:

BTMS with Battery
Without Battery

By Technology:

Active
Passive
Hybrid

By Battery Type:

Lithium-Ion
Solid-State
Others

By Battery Capacity:

Below 50 kWh
50-100 kWh
Above 100 kWh

By Vehicle Type:

Passenger Vehicles
Commercial Vehicles
Two-Wheelers

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024 to 2032

Key Takeaways:

Market estimates & forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approaches.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Electric Vehicle Battery Thermal Management Systems Market Executive Summary

1.1. Global Electric Vehicle Battery Thermal Management Systems Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Propulsion
  - Battery Electric Vehicle (BEV)
  - Plug-in Hybrid Electric Vehicle (PHEV)
  - Fuel Cell Electric Vehicle (FCEV)
- 1.3.2. By Offering
  - BTMS with Battery
  - Without Battery
- 1.3.3. By Technology
  - Active
  - Passive
  - Hybrid
- 1.3.4. By Battery Type
  - Lithium-Ion
  - Solid-State
  - Others
- 1.3.5. By Battery Capacity
  - Below 50 kWh
  - 50-100 kWh
  - Above 100 kWh
- 1.3.6. By Vehicle Type
  - Passenger Vehicles
  - Commercial Vehicles
  - Two-Wheelers
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Electric Vehicle Battery Thermal Management Systems Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - Availability
  - Infrastructure
  - Regulatory Environment
  - Market Competition
  - Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - Regulatory Frameworks
  - Technological Advancements
  - Environmental Considerations
  - Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Electric Vehicle Battery Thermal Management Systems Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand for Electrified Transportation and Enhanced Battery Performance
- 3.1.2. Advancements in Cooling Technologies and Innovative Thermal Solutions
- 3.1.3. Stringent Environmental Regulations and Government Incentives
3.2. Market Challenges
- 3.2.1. High Cost of Advanced BTMS Technologies and Integration into EV Architectures
- 3.2.2. Technological Complexity and Rapidly Evolving Battery Technologies
- 3.2.3. Supply Chain Constraints and Limited Aftermarket Support
3.3. Market Opportunities
- 3.3.1. Ongoing R&D and Economies of Scale Reducing Costs
- 3.3.2. Integration with Smart and Connected Vehicle Systems
- 3.3.3. Expansion in Commercial and High-Performance EV Segments

Chapter 4. Global Electric Vehicle Battery Thermal Management Systems Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Electric Vehicle Battery Thermal Management Systems Market Size & Forecasts by Propulsion 2022-2032

5.1. Segment Dashboard
5.2. Global Electric Vehicle Battery Thermal Management Systems Market: Propulsion Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Battery Electric Vehicle (BEV)
- 5.2.2. Plug-in Hybrid Electric Vehicle (PHEV)
- 5.2.3. Fuel Cell Electric Vehicle (FCEV)

Chapter 6. Global Electric Vehicle Battery Thermal Management Systems Market Size & Forecasts by Offering 2022-2032

6.1. Segment Dashboard
6.2. Global Electric Vehicle Battery Thermal Management Systems Market: Offering Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. BTMS with Battery
- 6.2.2. Without Battery

Chapter 7. Global Electric Vehicle Battery Thermal Management Systems Market Size & Forecasts by Technology 2022-2032

7.1. Segment Dashboard
7.2. Global Electric Vehicle Battery Thermal Management Systems Market: Technology Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Active
- 7.2.2. Passive
- 7.2.3. Hybrid

Chapter 8. Global Electric Vehicle Battery Thermal Management Systems Market Size & Forecasts by Battery Type and Battery Capacity 2022-2032

8.1. Segment Dashboard
8.2. Global Electric Vehicle Battery Thermal Management Systems Market: Battery Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. Lithium-Ion
- 8.2.2. Solid-State
- 8.2.3. Others
8.3. Global Electric Vehicle Battery Thermal Management Systems Market: Battery Capacity Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.3.1. Below 50 kWh
- 8.3.2. 50-100 kWh
- 8.3.3. Above 100 kWh

Chapter 9. Global Electric Vehicle Battery Thermal Management Systems Market Size & Forecasts by Vehicle Type 2022-2032

9.1. Segment Dashboard
9.2. Global Electric Vehicle Battery Thermal Management Systems Market: Vehicle Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 9.2.1. Passenger Vehicles
- 9.2.2. Commercial Vehicles
- 9.2.3. Two-Wheelers

Chapter 10. Global Electric Vehicle Battery Thermal Management Systems Market Size & Forecasts by Region 2022-2032

10.1. North America Electric Vehicle Battery Thermal Management Systems Market
- 10.1.1. U.S. Electric Vehicle Battery Thermal Management Systems Market
  - 10.1.1.1. Propulsion breakdown size & forecasts, 2022-2032
  - 10.1.1.2. Offering breakdown size & forecasts, 2022-2032
  - 10.1.1.3. Technology breakdown size & forecasts, 2022-2032
  - 10.1.1.4. Battery Type/Capacity breakdown size & forecasts, 2022-2032
  - 10.1.1.5. Vehicle Type breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Electric Vehicle Battery Thermal Management Systems Market
10.2. Europe Electric Vehicle Battery Thermal Management Systems Market
- 10.2.1. UK Electric Vehicle Battery Thermal Management Systems Market
- 10.2.2. Germany Electric Vehicle Battery Thermal Management Systems Market
- 10.2.3. France Electric Vehicle Battery Thermal Management Systems Market
- 10.2.4. Spain Electric Vehicle Battery Thermal Management Systems Market
- 10.2.5. Italy Electric Vehicle Battery Thermal Management Systems Market
- 10.2.6. Rest of Europe Electric Vehicle Battery Thermal Management Systems Market
10.3. Asia-Pacific Electric Vehicle Battery Thermal Management Systems Market
- 10.3.1. China Electric Vehicle Battery Thermal Management Systems Market
- 10.3.2. India Electric Vehicle Battery Thermal Management Systems Market
- 10.3.3. Japan Electric Vehicle Battery Thermal Management Systems Market
- 10.3.4. Australia Electric Vehicle Battery Thermal Management Systems Market
- 10.3.5. South Korea Electric Vehicle Battery Thermal Management Systems Market
- 10.3.6. Rest of Asia-Pacific Electric Vehicle Battery Thermal Management Systems Market
10.4. Latin America Electric Vehicle Battery Thermal Management Systems Market
- 10.4.1. Brazil Electric Vehicle Battery Thermal Management Systems Market
- 10.4.2. Mexico Electric Vehicle Battery Thermal Management Systems Market
- 10.4.3. Rest of Latin America Electric Vehicle Battery Thermal Management Systems Market
10.5. Middle East & Africa Electric Vehicle Battery Thermal Management Systems Market
- 10.5.1. Saudi Arabia Electric Vehicle Battery Thermal Management Systems Market
- 10.5.2. South Africa Electric Vehicle Battery Thermal Management Systems Market
- 10.5.3. Rest of Middle East & Africa Electric Vehicle Battery Thermal Management Systems Market

Chapter 11. Competitive Intelligence

11.1. Key Company SWOT Analysis
- 11.1.1. LG Chem
- 11.1.2. Valeo
- 11.1.3. Gentherm Inc.
11.2. Top Market Strategies
11.3. Company Profiles
- 11.3.1. LG Chem
  - 11.3.1.1. Key Information
  - 11.3.1.2. Overview
  - 11.3.1.3. Financial (Subject to Data Availability)
  - 11.3.1.4. Product Summary
  - 11.3.1.5. Market Strategies
- 11.3.2. Valeo
- 11.3.3. Gentherm Inc.
- 11.3.4. Mahle GmbH
- 11.3.5. Denso Corporation
- 11.3.6. Hanon Systems
- 11.3.7. Dana Incorporated
- 11.3.8. Continental AG
- 11.3.9. Samsung SDI
- 11.3.10. Robert Bosch GmbH
- 11.3.11. Panasonic Corporation
- 11.3.12. Calsonic Kansei Corporation
- 11.3.13. Voss Automotive GmbH
- 11.3.14. BYD Company Ltd.
- 11.3.15. Hitachi Automotive Systems, Ltd.

Chapter 12. Research Process

12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
12.2. Research Attributes