Electric Vehicle Battery Thermal Management System Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Market Overview

The EV battery thermal management system industry is set to advance from USD 6,416.3 million in 2024 to USD 29,198.9 million by the end of the decade, at a CAGR of 28.7%. The battery thermal management system is utilized to handle the functioning temperature of EV batteries, to avoid them from damage because of overheating. Without it, electric vehicle battery's life could shorten, decreasing performance and growing the chances of explosion.

Battery longevity is always crucial for any EV and that plays a key role where the BTMS comes into play. Customers want better and more efficient batteries that support higher driving ranges before charging and charging duration and less battery maintenance. With the current launch of new EVs, some of them have increased distance coverage, which affects the lifespan of the battery through over-usage. It leads to overheating and shortens battery's life expectancy; therefore, the need for an improved, longer-running battery in EVs is the main trend. The battery also deteriorates over the charging cycles as EVs covers more distances in their use than traditional vehicles.

Most of the countries are doing investment in the industry of EVs and making the people aware of their positive impact on the environment. Also, a significant number of car makers are expanding their production of these automobiles to meet consumer demands. This will, in return, increase the demand of EV batteries, therefore increasing the demand for performance and safety management technologies.

Key Insights

In 2024, the passenger vehicles hold a 65% industry share, with a CAGR of 29.0% over the projection period.

Improvements in automotive technology propel need for ADAS, in-vehicle connectivity, V2V/V2I communication, and self-driving features in EV.

Increasing incomes allow customers to afford costly vehicles with enhanced features.

The increasing price of fuel pushes customers towards EV, motorcycles, and scooters.

Rising need for passenger vehicles surges the scope for battery thermal management systems.

App-based taxi services in India, such as BluSmart and Lithium Urban, integrate EVs into their fleets.

Battery electric vehicles (BEVs) hold the largest market share at around 50% in 2024.

BEVs are favored for zero carbon emissions and longer driving ranges, necessitating heavy-duty batteries.

The Indian government supports green mobility with customs duty exemptions and reduced GST on EVs and charging stations.

Active BTMS, utilizing fluids for cooling, holds the largest share at around 45% in 2024.

Active BTMS efficiently transfers heat, extending battery life by up to 10 years.

Conventional lithium-ion batteries dominate the market in 2024, owing to their advanced features and reliability.

The liquid cooling and heating category leads the market, with a CAGR of 29.2% during the forecast period.

Liquid cooling and heating offer superior heat dissipation and efficient management during high-speed charging.

APAC is the largest region, projected to hold a 55% share by 2030, driven by growing EV manufacturing.

India's FAME scheme promotes EV sales through subsidies and incentives for charging infrastructure.

China leads the global EV and EV battery industries, driving high demand for BTMS.

The rising cost of fuel is a significant factor driving the shift to passenger EVs.

Increasing consumer income supports the purchase of feature-rich, expensive electric vehicles.

App-based taxi services are rapidly adopting electric vehicles, contributing to market growth.

Product Code: 13027

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by vehicle type
- 1.4.2. Market size breakdown, by propulsion
- 1.4.3. Market size breakdown, by type
- 1.4.4. Market size breakdown, by battery type
- 1.4.5. Market size breakdown, by technology
- 1.4.6. Market size breakdown, by region
- 1.4.7. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Volume, by Vehicle Type (2019-2030)
6.3. Market Revenue, by Vehicle Type (2019-2030)
6.4. Market Volume, by Propulsion (2019-2030)
6.5. Market Revenue, by Propulsion (2019-2030)
6.6. Market Volume, by Type (2019-2030)
6.7. Market Revenue, by Type (2019-2030)
6.8. Market Volume, by Battery Type (2019-2030)
6.9. Market Revenue, by Battery Type (2019-2030)
6.10. Market Volume, by Technology (2019-2030)
6.11. Market Revenue, by Technology (2019-2030)
6.12. Market Volume, by Region (2019-2030)
6.13. Market Revenue, by Region (2019-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Volume, by Vehicle Type (2019-2030)
7.3. Market Revenue, by Vehicle Type (2019-2030)
7.4. Market Volume, by Propulsion (2019-2030)
7.5. Market Revenue, by Propulsion (2019-2030)
7.6. Market Volume, by Type (2019-2030)
7.7. Market Revenue, by Type (2019-2030)
7.8. Market Volume, by Battery Type (2019-2030)
7.9. Market Revenue, by Battery Type (2019-2030)
7.10. Market Volume, by Technology (2019-2030)
7.11. Market Revenue, by Technology (2019-2030)
7.12. Market Volume, by Country (2019-2030)
7.13. Market Revenue, by Country (2019-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Volume, by Vehicle Type (2019-2030)
8.3. Market Revenue, by Vehicle Type (2019-2030)
8.4. Market Volume, by Propulsion (2019-2030)
8.5. Market Revenue, by Propulsion (2019-2030)
8.6. Market Volume, by Type (2019-2030)
8.7. Market Revenue, by Type (2019-2030)
8.8. Market Volume, by Battery Type (2019-2030)
8.9. Market Revenue, by Battery Type (2019-2030)
8.10. Market Volume, by Technology (2019-2030)
8.11. Market Revenue, by Technology (2019-2030)
8.12. Market Volume, by Country (2019-2030)
8.13. Market Revenue, by Country (2019-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Volume, by Vehicle Type (2019-2030)
9.3. Market Revenue, by Vehicle Type (2019-2030)
9.4. Market Volume, by Propulsion (2019-2030)
9.5. Market Revenue, by Propulsion (2019-2030)
9.6. Market Volume, by Type (2019-2030)
9.7. Market Revenue, by Type (2019-2030)
9.8. Market Volume, by Battery Type (2019-2030)
9.9. Market Revenue, by Battery Type (2019-2030)
9.10. Market Volume, by Technology (2019-2030)
9.11. Market Revenue, by Technology (2019-2030)
9.12. Market Volume, by Country (2019-2030)
9.13. Market Revenue, by Country (2019-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Volume, by Vehicle Type (2019-2030)
10.3. Market Revenue, by Vehicle Type (2019-2030)
10.4. Market Volume, by Propulsion (2019-2030)
10.5. Market Revenue, by Propulsion (2019-2030)
10.6. Market Volume, by Type (2019-2030)
10.7. Market Revenue, by Type (2019-2030)
10.8. Market Volume, by Battery Type (2019-2030)
10.9. Market Revenue, by Battery Type (2019-2030)
10.10. Market Volume, by Technology (2019-2030)
10.11. Market Revenue, by Technology (2019-2030)
10.12. Market Volume, by Country (2019-2030)
10.13. Market Revenue, by Country (2019-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Volume, by Vehicle Type (2019-2030)
11.3. Market Revenue, by Vehicle Type (2019-2030)
11.4. Market Volume, by Propulsion (2019-2030)
11.5. Market Revenue, by Propulsion (2019-2030)
11.6. Market Volume, by Type (2019-2030)
11.7. Market Revenue, by Type (2019-2030)
11.8. Market Volume, by Battery Type (2019-2030)
11.9. Market Revenue, by Battery Type (2019-2030)
11.10. Market Volume, by Technology (2019-2030)
11.11. Market Revenue, by Technology (2019-2030)
11.12. Market Volume, by Country (2019-2030)
11.13. Market Revenue, by Country (2019-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Volume, by Vehicle Type (2019-2030)
12.3. Market Revenue, by Vehicle Type (2019-2030)
12.4. Market Volume, by Propulsion (2019-2030)
12.5. Market Revenue, by Propulsion (2019-2030)
12.6. Market Volume, by Type (2019-2030)
12.7. Market Revenue, by Type (2019-2030)
12.8. Market Volume, by Battery Type (2019-2030)
12.9. Market Revenue, by Battery Type (2019-2030)
12.10. Market Volume, by Technology (2019-2030)
12.11. Market Revenue, by Technology (2019-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Volume, by Vehicle Type (2019-2030)
13.3. Market Revenue, by Vehicle Type (2019-2030)
13.4. Market Volume, by Propulsion (2019-2030)
13.5. Market Revenue, by Propulsion (2019-2030)
13.6. Market Volume, by Type (2019-2030)
13.7. Market Revenue, by Type (2019-2030)
13.8. Market Volume, by Battery Type (2019-2030)
13.9. Market Revenue, by Battery Type (2019-2030)
13.10. Market Volume, by Technology (2019-2030)
13.11. Market Revenue, by Technology (2019-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Volume, by Vehicle Type (2019-2030)
14.3. Market Revenue, by Vehicle Type (2019-2030)
14.4. Market Volume, by Propulsion (2019-2030)
14.5. Market Revenue, by Propulsion (2019-2030)
14.6. Market Volume, by Type (2019-2030)
14.7. Market Revenue, by Type (2019-2030)
14.8. Market Volume, by Battery Type (2019-2030)
14.9. Market Revenue, by Battery Type (2019-2030)
14.10. Market Volume, by Technology (2019-2030)
14.11. Market Revenue, by Technology (2019-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Volume, by Vehicle Type (2019-2030)
15.3. Market Revenue, by Vehicle Type (2019-2030)
15.4. Market Volume, by Propulsion (2019-2030)
15.5. Market Revenue, by Propulsion (2019-2030)
15.6. Market Volume, by Type (2019-2030)
15.7. Market Revenue, by Type (2019-2030)
15.8. Market Volume, by Battery Type (2019-2030)
15.9. Market Revenue, by Battery Type (2019-2030)
15.10. Market Volume, by Technology (2019-2030)
15.11. Market Revenue, by Technology (2019-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Volume, by Vehicle Type (2019-2030)
16.3. Market Revenue, by Vehicle Type (2019-2030)
16.4. Market Volume, by Propulsion (2019-2030)
16.5. Market Revenue, by Propulsion (2019-2030)
16.6. Market Volume, by Type (2019-2030)
16.7. Market Revenue, by Type (2019-2030)
16.8. Market Volume, by Battery Type (2019-2030)
16.9. Market Revenue, by Battery Type (2019-2030)
16.10. Market Volume, by Technology (2019-2030)
16.11. Market Revenue, by Technology (2019-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Volume, by Vehicle Type (2019-2030)
17.3. Market Revenue, by Vehicle Type (2019-2030)
17.4. Market Volume, by Propulsion (2019-2030)
17.5. Market Revenue, by Propulsion (2019-2030)
17.6. Market Volume, by Type (2019-2030)
17.7. Market Revenue, by Type (2019-2030)
17.8. Market Volume, by Battery Type (2019-2030)
17.9. Market Revenue, by Battery Type (2019-2030)
17.10. Market Volume, by Technology (2019-2030)
17.11. Market Revenue, by Technology (2019-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Volume, by Vehicle Type (2019-2030)
18.3. Market Revenue, by Vehicle Type (2019-2030)
18.4. Market Volume, by Propulsion (2019-2030)
18.5. Market Revenue, by Propulsion (2019-2030)
18.6. Market Volume, by Type (2019-2030)
18.7. Market Revenue, by Type (2019-2030)
18.8. Market Volume, by Battery Type (2019-2030)
18.9. Market Revenue, by Battery Type (2019-2030)
18.10. Market Volume, by Technology (2019-2030)
18.11. Market Revenue, by Technology (2019-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Volume, by Vehicle Type (2019-2030)
19.3. Market Revenue, by Vehicle Type (2019-2030)
19.4. Market Volume, by Propulsion (2019-2030)
19.5. Market Revenue, by Propulsion (2019-2030)
19.6. Market Volume, by Type (2019-2030)
19.7. Market Revenue, by Type (2019-2030)
19.8. Market Volume, by Battery Type (2019-2030)
19.9. Market Revenue, by Battery Type (2019-2030)
19.10. Market Volume, by Technology (2019-2030)
19.11. Market Revenue, by Technology (2019-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Volume, by Vehicle Type (2019-2030)
20.3. Market Revenue, by Vehicle Type (2019-2030)
20.4. Market Volume, by Propulsion (2019-2030)
20.5. Market Revenue, by Propulsion (2019-2030)
20.6. Market Volume, by Type (2019-2030)
20.7. Market Revenue, by Type (2019-2030)
20.8. Market Volume, by Battery Type (2019-2030)
20.9. Market Revenue, by Battery Type (2019-2030)
20.10. Market Volume, by Technology (2019-2030)
20.11. Market Revenue, by Technology (2019-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Volume, by Vehicle Type (2019-2030)
21.3. Market Revenue, by Vehicle Type (2019-2030)
21.4. Market Volume, by Propulsion (2019-2030)
21.5. Market Revenue, by Propulsion (2019-2030)
21.6. Market Volume, by Type (2019-2030)
21.7. Market Revenue, by Type (2019-2030)
21.8. Market Volume, by Battery Type (2019-2030)
21.9. Market Revenue, by Battery Type (2019-2030)
21.10. Market Volume, by Technology (2019-2030)
21.11. Market Revenue, by Technology (2019-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Volume, by Vehicle Type (2019-2030)
22.3. Market Revenue, by Vehicle Type (2019-2030)
22.4. Market Volume, by Propulsion (2019-2030)
22.5. Market Revenue, by Propulsion (2019-2030)
22.6. Market Volume, by Type (2019-2030)
22.7. Market Revenue, by Type (2019-2030)
22.8. Market Volume, by Battery Type (2019-2030)
22.9. Market Revenue, by Battery Type (2019-2030)
22.10. Market Volume, by Technology (2019-2030)
22.11. Market Revenue, by Technology (2019-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Volume, by Vehicle Type (2019-2030)
23.3. Market Revenue, by Vehicle Type (2019-2030)
23.4. Market Volume, by Propulsion (2019-2030)
23.5. Market Revenue, by Propulsion (2019-2030)
23.6. Market Volume, by Type (2019-2030)
23.7. Market Revenue, by Type (2019-2030)
23.8. Market Volume, by Battery Type (2019-2030)
23.9. Market Revenue, by Battery Type (2019-2030)
23.10. Market Volume, by Technology (2019-2030)
23.11. Market Revenue, by Technology (2019-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Volume, by Vehicle Type (2019-2030)
24.3. Market Revenue, by Vehicle Type (2019-2030)
24.4. Market Volume, by Propulsion (2019-2030)
24.5. Market Revenue, by Propulsion (2019-2030)
24.6. Market Volume, by Type (2019-2030)
24.7. Market Revenue, by Type (2019-2030)
24.8. Market Volume, by Battery Type (2019-2030)
24.9. Market Revenue, by Battery Type (2019-2030)
24.10. Market Volume, by Technology (2019-2030)
24.11. Market Revenue, by Technology (2019-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Volume, by Vehicle Type (2019-2030)
25.3. Market Revenue, by Vehicle Type (2019-2030)
25.4. Market Volume, by Propulsion (2019-2030)
25.5. Market Revenue, by Propulsion (2019-2030)
25.6. Market Volume, by Type (2019-2030)
25.7. Market Revenue, by Type (2019-2030)
25.8. Market Volume, by Battery Type (2019-2030)
25.9. Market Revenue, by Battery Type (2019-2030)
25.10. Market Volume, by Technology (2019-2030)
25.11. Market Revenue, by Technology (2019-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Volume, by Vehicle Type (2019-2030)
26.3. Market Revenue, by Vehicle Type (2019-2030)
26.4. Market Volume, by Propulsion (2019-2030)
26.5. Market Revenue, by Propulsion (2019-2030)
26.6. Market Volume, by Type (2019-2030)
26.7. Market Revenue, by Type (2019-2030)
26.8. Market Volume, by Battery Type (2019-2030)
26.9. Market Revenue, by Battery Type (2019-2030)
26.10. Market Volume, by Technology (2019-2030)
26.11. Market Revenue, by Technology (2019-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Volume, by Vehicle Type (2019-2030)
27.3. Market Revenue, by Vehicle Type (2019-2030)
27.4. Market Volume, by Propulsion (2019-2030)
27.5. Market Revenue, by Propulsion (2019-2030)
27.6. Market Volume, by Type (2019-2030)
27.7. Market Revenue, by Type (2019-2030)
27.8. Market Volume, by Battery Type (2019-2030)
27.9. Market Revenue, by Battery Type (2019-2030)
27.10. Market Volume, by Technology (2019-2030)
27.11. Market Revenue, by Technology (2019-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Volume, by Vehicle Type (2019-2030)
28.3. Market Revenue, by Vehicle Type (2019-2030)
28.4. Market Volume, by Propulsion (2019-2030)
28.5. Market Revenue, by Propulsion (2019-2030)
28.6. Market Volume, by Type (2019-2030)
28.7. Market Revenue, by Type (2019-2030)
28.8. Market Volume, by Battery Type (2019-2030)
28.9. Market Revenue, by Battery Type (2019-2030)
28.10. Market Volume, by Technology (2019-2030)
28.11. Market Revenue, by Technology (2019-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. Valeo SA
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Continental AG
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Gentherm Inc
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Robert Bosch GmbH
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Dana Inc
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Hanon Systems
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. MAHLE GmbH
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. VOSS Automotive GmbH
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. LG Chem Ltd
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. Samsung SDI Co. LTD.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. Marelli Corporation
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
30.12. Modine Manufacturing Company
- 30.12.1. Business overview
- 30.12.2. Product and service offerings
- 30.12.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Electric Vehicle Battery Thermal Management System Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)