PUBLISHER: The Business Research Company | PRODUCT CODE: 1672293
PUBLISHER: The Business Research Company | PRODUCT CODE: 1672293
An automotive battery thermal management system is a device designed to regulate and manage heat produced within battery cells during their electrochemical processes. It ensures safe and efficient battery operation by preventing excessive heat, thus mitigating accelerated battery degradation and maintaining optimal component functionality.
These systems employ various technologies such as PCM (Phase Change Material), liquid cooling and heating, air cooling and heating, among others. PCM serves as a protective circuit module for Li-Ion battery packs, guarding against overcharging, over-discharging, and over-draining to prevent potential hazards such as explosions or fires, thereby ensuring the safety of Li-Ion batteries. Automotive battery thermal management systems are utilized in two primary types of batteries such as conventional and solid-state. They find applications in both passenger and commercial vehicles.
The automotive battery thermal management system market research report is one of a series of new reports from The Business Research Company that provides Automotive battery thermal management system market statistics, including Automotive battery thermal management system industry global market size, regional shares, competitors with an automotive battery thermal management system market share, detailed automotive battery thermal management system market segments, market trends and opportunities, and any further data you may need to thrive in the automotive battery thermal management system industry. This automotive battery thermal management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive battery thermal management system market size has grown rapidly in recent years. It will grow from $3.69 billion in 2024 to $4.4 billion in 2025 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to government initiatives for electric vehicles, reducing the cost of EV batteries, and growing demand for electrical vehicles.
The automotive battery thermal management system market size is expected to see rapid growth in the next few years. It will grow to $8.76 billion in 2029 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to rapid growth in e-commerce, increasing fuel costs, and restrictions on sales of petrol and diesel vehicles. Major trends in the forecast period include focusing on advanced thermal interface materials to improve temperature resistance, developing smart battery thermal management techniques for better heating and cooling, developing innovative technologies, and focusing on partnerships and collaborations to expand product portfolio and geographic presence.
The growing demand for electric vehicles is anticipated to drive the growth of the automotive battery thermal management system market in the future. Factors such as rising fuel prices and carbon emissions are contributing to the rapid adoption of electric vehicles worldwide. This surge in electric vehicle demand is expected to enhance the use of automotive battery thermal management systems, which are essential for the safe and efficient operation of vehicles. For example, in August 2024, a report from The U.S. Energy Information Administration (EIA), a US-based agency, noted that the combined sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVs) in the U.S. increased from 17.8% of total new light-duty vehicle (LDV) sales in Q1 2024 to 18.7% in Q2 2024. Consequently, the rising demand for electric vehicles is projected to elevate the need for automotive battery thermal management systems during the forecast period.
The rise in fuel costs is expected to positively impact the automotive battery thermal management system market during the forecast period. Fuel prices globally, particularly petrol prices, have been increasing, leading consumers to seek alternative energy options to manage costs and enhance sustainability. For instance, in September 2022, the Office for National Statistics, a US-based government department, reported that automotive fuel prices surged by 48% in July 2022 compared to 2021, indicating a substantial increase. As a result of these rising fuel prices, consumers are likely to shift toward electric vehicles, thereby increasing the demand for automotive battery thermal management systems.
The adoption of innovative solutions based on thermoelectric technology emerges as a prominent trend gaining traction in the automotive battery thermal management system market. Leading companies within the market are actively advancing their technologies and investing in research and development to meet industry demands and fortify their market positions. For example, in May 2022, Modine Manufacturing Company, a US-based manufacturer specializing in thermal management solutions, introduced the Evantage Thermal Management systems for commercial chassis. The Evantage BTMS optimizes the temperature range for a comprehensive range of batteries using a single unit while minimizing power draw.
Technological advancement stands out as a key trend in the automotive battery thermal management system market, with major players concentrating on the development of innovative technologies, including immersion cooling technology. This focus on innovation is essential for sustaining competitiveness in the market. Immersion cooling is a highly effective technique, providing 100% cell-to-coolant contact and ensuring better cell temperature homogeneity. As an illustration, in June 2022, Xing Mobility, a Taiwan-based provider of electric vehicle powertrain and battery technology, launched the IMMERSIOTM XM25 system. This integrated battery system incorporates a battery pack, a battery management system, and an active safety module based on immersion cooling technology. The IMMERSIOTM XM25 system enhances temperature uniformity, consequently improving the performance levels of battery cells, all while maintaining a remarkably lightweight design.
In April 2023, Autoneum Holding AG, a Switzerland-based manufacturer of vehicle acoustic and thermal insulation, acquired Borgers Automotive Group for an undisclosed sum. This acquisition is intended to bolster Autoneum's global leadership in sustainable acoustic and thermal management, while also expanding its product offerings in textile acoustics protection, insulation, and trim. Borgers Automotive Group, based in Germany, specializes in manufacturing automotive products with a focus on vehicle battery thermal management.
Major companies operating in the automotive battery thermal management system market include BorgWarner Inc, Robert Bosch GmbH, Hanon Systems, Valeo, Mahle GmbH, Denso Corporation, Panasonic Corporation, Dana Incorporated, Gentherm Incorporated, LG Chem Ltd, GS Yuasa International Ltd, Samsung SDI Co., Ltd, Contemporary Amperex Technology Co. Limited (CATL), Sunwoda Electronic Co, Tianneng Group, Chaowei Power Holdings Limited, Desay Battery Co. Ltd, BYD Company Limited, SVOLT Energy Technology Co Ltd, EVTronic, Britishvolt, Aceleron, Zenobe, Northvolt, Verkor, Italvolt, Fortum, Volkswagen, Bayerische Motoren Werke, Groupe Renault, Varta, SAFT, Enterex Polska Sp. z o.o, Behr Service Polska, Orion BMS, CapTherm Systems Inc, Modine Manufacturing Company, Grayson, Bravo Motor, Great Wall Motor, Horwin, Smart Modular Technologies, IntelBras, Tecsys, Byvin, HDK Electric Vehicles, Ingersoll Rand Inc, Polaris Industries, Speedway Electric, Eleksa EV, Melex Electrovehicles, GridCars, Mazibuko Motor Company, El Nasr Automotive Manufacturing Company
Asia-Pacific was the largest region in the automotive battery thermal management system market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive battery thermal management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive battery thermal management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The automotive battery thermal management system includes revenue earned by entities by HEVs, PHEVs, and EVs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Battery Thermal Management System Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive battery thermal management system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive battery thermal management system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive battery thermal management system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.