Press release
EV Battery Thermal Management Systems Market is Anticipated to Witness a Promising Growth of 20.1% till 2029 | Size & Global Reperch Report
EV Battery Thermal Management Systems Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/ev-battery-thermal-management-systems-market/
The factors driving growth of the EV Battery Thermal Management Systems Market includes increasing dead for electric vehicles around the world, fall in the prices of lithium-ion batteries, rising focus on developing advanced cooling methods, growing penetration of battery-powered vehicles and improvements in the living standards. Moreover, Government policies to reduce greenhouse gas emissions across the globe, technological advancements in battery thermal management systems, growing popularity of electric busses, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic mergers and collaborations between industry leaders and rising disposable incomes, are further contributing towards the market growth.
However, growth of the EV Battery Thermal Management Systems Market is hindered due to disruptions in the global supply chain.
The leading players operating in the EV Battery Thermal Management Systems Market are Denso Corporation, Continental AG, BorgWarner Inc., Infineon Technologies AG, Dana Limited, Robert Bosch GmbH, Hitachi, Ltd., Eaton Corporation Plc, Renesas Electronics Corporation, and Visteon Corporation, among others.
Based on Type, the Passive segment is predicted to grow at a significant CAGR during the forecast period
Components used in the passive thermal management systems are comparatively less expensive than active thermal management systems and do not consume battery power, are some of factors responsible for the segment's growth.
Based on Application, the Commercial Vehicles segment is projected to grow at a robust CAGR over the forecast period
Growing demand for battery-operated buses and lightweight trucks and technological advancements in heat management systems, are pushing segment's growth.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
As per the EV Battery Thermal Management Systems Market Report, growing demand for fuel efficient vehicles, rising focus on reducing greenhouse gas emissions, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region
Key Development
In 2020, BorgWarner Inc. acquired Delphi Technologies. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner's power electronics products, commercial vehicle, and aftermarket businesses.
Market Segmentation
Segmentation by Type
Active
Passive
Segmentation by Application
Passenger Cars
Commercial Vehicles
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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