According to a new market report published by Lucintel, the future of the global electric vehicle battery thermal management system market looks promising with opportunities in the battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle, and fuel cell vehicle segments. The global electric vehicle battery thermal management systems market is expected to grow with a CAGR of 17% from 2021 to 2026. The major drivers for this market are increasing adoption of electric vehicles, increasing demand for luxury and comfort features, and increasing penetration of battery-powered vehicles.
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In this market, battery electric vehicles, hybrid electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles are the major propulsion types. On the basis of comprehensive research, Lucintel forecasts that battery electric vehicles (BEV) will remain the largest propulsion segment, and it is also expected to witness the highest growth over the forecast period because of the availability of subsidies and support from governments, increasing vehicle range, and improving charging infrastructure.
Within the global electric vehicle battery thermal management system market, the passenger car segment is expected to witness the highest growth over the forecast period due to the increasing demand for alternative fuel vehicles and supportive government policies and subsidies.
APAC is expected to remain the largest market and witness the highest growth over the forecast period because of the increasing adoption of EVs in the region, especially in China, and growing consumer preference for EVs due to rising awareness of the benefits of these vehicles.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing adoption of new technologies in lithium-ion batteries and technological advancement of heat management for batteries. Robert Bosch, Valeo, Mahle GmbH, Hanon Systems, Dana Incorporated, Lord Corporation, LG Chem, and Samsung SDI are among the major suppliers of the electric vehicle battery thermal management system market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric vehicle battery thermal management system market by battery capacity, battery type, propulsion, vehicle type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Electric Vehicle Battery Thermal Management System Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global electric vehicle battery thermal management system market by battery capacity, battery type, propulsion, vehicle type, and region, as follows:
By Battery Capacity [Value ($ Million) from 2015 to 2026]:
<100 kWh
100-200 kWh
200-500 kWh
>500 kWh
By Battery Type [Value ($ Million) from 2015 to 2026]:
By Propulsion [Value ($ Million) from 2015 to 2026]:
Battery Electric Vehicles (BEV)
Hybrid Electric Vehicles (HEV)
Plug-in Hybrid Electric Vehicles (PHEV)
Fuel Cell Vehicles (FCV)
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Cars
Commercial Vehicles
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.