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.
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Which major factors have contributed to the expansion of the automotive battery thermal management system market?
The rise in demand for electric vehicles is expected to propel the growth of the automotive battery thermal management system market going forward. Rise in fuel prices, carbon emissions, and many other factors are mutually contributing to rapid growth in the adoption of electric vehicles across the globe. The rapid growth in demand for electric vehicles is expected to boost the utilization of automotive battery thermal management systems, as they are widely used for safe and effective functioning of the vehicle. For instance, in August 2024, according to a report published by The U.S. Energy Information Administration (EIA), a US-based agency, the combined U.S. sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVs) increased from 17.8% of total new light-duty vehicle (LDV) sales in Q1 2024 to 18.7% in Q2 2024. Therefore, a rise in demand for electric vehicles is expected to boost the demand for automotive battery thermal management systems during the forecast period.
How is the automotive battery thermal management system market segmented?
The automotive battery thermal management system market covered in this report is segmented –
1) By Technology: Liquid Cooling And Heating, Air Cooling And Heating, PCM And Other Technologies
2) By Battery Type: Conventional, Solid State
3) By Vehicle Type: Passenger, Commercial
Subsegments:
1) By Liquid Cooling And Heating: Liquid Cooling Systems, Liquid Heating Systems
2) By Air Cooling And Heating: Active Air Cooling Systems, Passive Air Cooling Systems
3) By PCM (Phase Change Materials) And Other Technologies: PCM Thermal Management Systems, Thermoelectric Cooling Systems, Hybrid Systems
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Who are the top competitors in the automotive battery thermal management system market?
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
Which key trends are expected to influence the automotive battery thermal management system market in the coming years?
Innovative solutions based on thermoelectric technology are a key trend gaining popularity in the automotive battery thermal management system market. Major companies in the automotive battery thermal management system market are advancing in their new technologies and research and development of the automotive battery thermal management system to meet industry demands and strengthen their business position. For instance, in May 2022, Modine Manufacturing Company, a US-based manufacturer of thermal management solutions launched Evantage Thermal Management systems for commercial chassis. Evantage BTMS optimizes the temperature range for the entire range of batteries with a single unit, while minimizing power draw.
Which regional trends are influencing the automotive battery thermal management system market, and which area dominates the industry?
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.
What Does The Automotive Battery Thermal Management System Market Report 2025 Offer?
The automotive battery thermal management system market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
An automotive battery thermal management system refers to a device that is used to manage heat generated in battery cells during the electrochemical process and safe and efficient working of batteries. The automotive battery thermal management system is used to prevent accelerated battery deterioration by controlling and managing the heat generated by the automobile components and to ensure continuous functionality of components at optimum temperature.
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