Battery Thermal Management System Market: Pin-Point Analysis For Changing Competitive Dynamics

Transparency Market Research has released a new market report titled “Automotive Battery Thermal Management System Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the report, the global automotive battery thermal management system market is expected to expand at a CAGR of 38.04% during the forecast period.

Government incentives and subsidies, expanding charging infrastructure, enlarging battery life and performance, increased awareness about global temperature rise, development of fast electric vehicle chargers, and decreasing electric vehicle prices are primarily driving the electric vehicle market, which in turn is propelling the battery thermal management system. Batteries, are the power source for electric vehicles and their performance, life, and efficiency varies according to temperature. Thus, the battery thermal management system is an essential part of electric vehicles, as it maintains adequate temperature of the battery in order to enhance battery life and reduce life cycle cost.

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According to studies, battery life reduces by two months when the temperature of battery increases 1ºC in the range of 30ºC to 40ºC. Therefore, the battery thermal management system plays a vital role in increasing battery lifespan by maintaining adequate temperature of the battery. OEMs are incorporating advanced technologies into vehicles, such as advanced driver assistance system, regenerative braking system, hybrid technology, and electronic stability control. Increased number of electronic and electrical components increases the workload on the vehicles, which in turn raises the battery temperature. High density batteries, which are compact and have minimal surface area and consequently, significantly less heat dissipation rate, leads to increased battery temperature. Fast charging is are a key cause for increased battery temperature. The battery thermal management technology plays a vital role in maintaining adequate temperature of batteries for optimum performance.

Active battery thermal managements systems are widely utilized owing to their simplicity and inexpensiveness. In an active battery thermal management system, coolant is force circulated through pipes surrounding the battery cells. The coolant used in a battery thermal management system can be air or liquid. Liquid based systems are popular owing to their cost-effectiveness and ability to maintain stable battery temperature. The air-based active battery thermal management system is simple and inexpensive; however, it becomes less effective at higher temperatures such as 40ºC to 55ºC.

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Electric vehicles are witnessing heavy adoption across the passenger vehicle segment of the global automotive battery thermal management system market. Light commercial electric vehicles and electric busses and coaches are gaining popularity across several countries. Majority of electric vehicles across the globe are passenger vehicles; therefore, the passenger vehicle segment dominates the global automotive battery thermal management system market. Battery electric vehicles are witnessing a rapid increase in demand owing to government support, increased battery power capacity, decreased vehicle cost, and raised awareness about the increasing global temperature. Penetration of battery electric vehicles is expected to increase at a considerably high rate; therefore, the battery electric vehicle segment of the global battery thermal management system is estimated to expand at a significant CAGR during the forecast period.

Key players operating in the global automotive battery thermal management system market include Continental AG, LG Chem Ltd., Robert Bosch GmbH, Valeo, Calsonic Kansei Corporation, GENTHERM, Dana Incorporated, MAHLE GmbH, SAMSUN SDI CO. LTD., VOSS Automotive GmbH, CapTherm Systems Inc., Hanon Systems, and Grayson.

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