Market Research Report
Global Automotive Battery Thermal Management System Market- Technologies, Market share and Industry Forecast to 2024
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||644737|
|Published||Content info||190 Pages
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|Global Automotive Battery Thermal Management System Market- Technologies, Market share and Industry Forecast to 2024|
|Published: May 15, 2018||Content info: 190 Pages||
Global automotive battery thermal management system market is expected to grow at a CAGR of 16.05% during forecast period 2017-2024. Global automotive battery thermal management system market market is mainly driven by rising demand of electric vehicles and implementation of HVAC system in automobiles. However, high cost of automotive thermal system acts as a major restraint for the global automotive battery thermal management system market.
Geographically, Asia-Pacific holds the largest market share in the automotive battery thermal management system market due to the increasing sales of electric vehicles in countries such as Japan and China. Asia Pacific is anticipated to emerge as the fastest growing market region during the forecast period 2017-2024 owing to the presence of key market players such as LG Chem (South Korea), Hanon Sytems (Korea), Denso Corporation (Japan) and Calsonic Kansei (Japan).
Global automotive battery thermal management system market is segmented on the basis of of propulsion, electric battery capacity, vehicle type, battery type and technology. On the basis of technology the automotive battery thermal management market is classified into active and passive of which active is projected to have a higher adoption rate owing to the improved battery performance, increased efficiency and long lifespan is likely to drive the demand for active technology in the automotive battery thermal management systems market. Based on electric type segment the market is classified into passenger car and commercial vehicle of which passenger vehicle dominates the market due to the various government organizations promoting the adoption rate of electric vehicle rate across the world. The propulsion segment of automotive battery thermal management system which includes BEV (Battery electric vehicle), HEV (Hybrid electric vehicles), PHEV (Plug-in-hybrid electric vehicle), and FCV (Fuel cell vehicle) of which BEV is anticipated to hold the largest share owing to the rising demand for BEV. Based on the battery capacity segment the automotive battery thermal management system market is classified into <100 kWh, 100-200 kWh, 200-500 kWh and > 500 kWh.
The growth in automotive battery thermal management system market is also influenced by the presence of major players such as Robert Bosch (Germany), GenTherm (United States), Calsonic Kansei (Japan), Hanon Sytems (Korea), Cap Therm Systems (Canada) and others. Product launches, mergers & acquisitions, partnerships etc. are some crucial strategies adopted by the major players to gain competitive advantage. For Instance: Acquisition: On Feb 2015, MAHLE (Germany) acquired the wholly-owned thermal business of U.S automotive supplier of Delphi Automotive PLC. This acquisition would help the company to expand its presence across the world.