Electric Vehicle Battery Thermal Management Systems Market Will Record an Upsurge in Revenue during 2022-2027
March 15, 2023/Industry News Global/ -- This new report from Stratview Research analyzes the Electric Vehicle Battery Thermal Management Systems Market over the forecast period from 2022 to 2027 . The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.
Electric Vehicle Battery Thermal Management Systems Market Overview:
Electric vehicle battery thermal management systems market is likely to witness an impressive CAGR of 28.1% during the forecast period.
drivers
Key players in the electric vehicle battery thermal management systems market are:
- Robert Bosch GmbH,
- GENTHERM Inc.,
- Valeo,
- Dana Inc.,
- Mahle GmbH,
- Hanon Systems,
- Voss Automotive GmbH,
- 3M,
- Grayson,
- Polymer Science, Inc.,
- Lord Corporation.
Analysis Segment
Electric Vehicle Battery Thermal Management Systems Market Share: By Application Type
Based on the application type, the market is segmented as passenger vehicles and commercial vehicles. The passenger vehicles application segment is estimated to account for the major share of the market during the forecast period on account of their easy availability and higher production around the world. Increasing affordability and rising income of the middle-class population will support the growth of the segment over the forecast period
Electric Vehicle Battery Thermal Management Systems Market Share: By System Type
Based on the system type, the market is segmented as passive and active. Passive system is estimated to remain the larger segment of the market during the forecast period owing to its higher demand, as it facilitates a large amount of cooling and heating power. Passive system is an economical system as the cost associated with it and its component is lower as compared to active system.
Electric Vehicle Battery Thermal Management Systems Market Share: By Region
In terms of regions, Asia-Pacific is estimated to remain the leading region in the market over the forecast period. The region’s market is mainly driven by demand from China and Japan. The growing adoption of EVs in the region, especially in China, is the major factor driving the growth of the market. Furthermore, rising consumer preference for EVs as a result of increased understanding of their benefits and lucrative incentives provided by the government in the region is likely to drive the regional market expansion.
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