QY Research has released its new report, titled “2019 Market Research Report on Global Automotive Battery Thermal Management System Industry”, which has covered the significant aspects that are fueling the growth of the market for the forecast period. This report provides the readers with an indication about where the market is headed and how the global automotive battery thermal management market is going to take a shape up.
QY Research states that by 2025 the global automotive battery thermal management market will reach US$1646 mn from US$288 mn in 2018. The market is expected to register a CAGR of 27.3% during the forecast period.
Global Automotive Battery Thermal Management System: Drivers
The global market for automotive battery thermal management system will witness significant growth due to the growing demand for electric vehicles. Some of the factors such as long lifespan, increased efficiency, and improved battery performance are likely to propel the growth of the market. Other factors such as stringent government regulations, government subsidies, and incentives, increasing awareness about the global temperature rise, and international agreements for reducing air pollution from the transportation industry are also likely to fuel the growth of the market in the near future. In addition, the rising implementation of the HVAC system in automobiles will drive market growth.
Moreover, the active technology of the market will have a higher adoption rate in the forthcoming years. The active technology, which uses liquid or air for heating and cooling the battery cells that has enabled the manufacturers and developers to earn maximum efficiency and performance with an extended battery life. All of these factors are making a positive impact on the overall market.
Global Automotive Battery Thermal Management System: Forecast by Regions
Asia Pacific is likely to be the largest market for automotive battery thermal management system because of the growing sales of electric vehicles and hybrid vehicles in countries such as Japan and China. Europe is also estimated to grow at a promising rate due to the increasing demand for luxury vehicles in this region.
Global Automotive Battery Thermal Management System: Segment Analysis
The market is segmented on the basis of product and end users. The product type segment includes refrigerant cooling, air cooling, and liquid cooling. Based on the end users, the market is segmented into plug-in-hybrid electric vehicle (PHEV) and electric vehicles (EV).
Global Automotive Battery Thermal Management System: Top Players
The leading manufacturers operating in the market are CapTherm System, Mahle, VOSS Automotive, Valeo, Continental, Bosch, Gentherm, Hana System, and Dana.
Global Automotive Battery Thermal Management System: Competitive Landscape
Mahle, a leading manufacturer, is continuously expanding its wide range of electronic control units, drive motors, interactive components, and batteries after its acquisitions with ebikemotion Technologies last year. Companies are adopting the strategies of business and product expansion and mergers and acquisitions to attain higher revenues.
Full Report Overview@ https://www.qyresearch.com/index/detail/985579/2019-market