Global Battery Thermal Management System Market For Automotive analyzed by Technology (Air, Liquid, Phase Change Material, Thermo electrics), Propulsion (BEV, HEV, PHEV & FCV), Battery Capacity, Vehicle Type (Passenger & Commercial), and regional forecast 2019 to 2023.
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Battery Thermal Management System Market Global Overview:
Battery Thermal Management System Market For Automotive To Record Noteworthy Progress With 16% CAGR By 2023. A battery management system (BMS) is any electronic system that manages a rechargeable battery (cell or battery pack), such as by protecting the battery from operating outside its safe operating area, monitoring its state. The increasing inclination for electric driven vehicles is expected to open up new avenues for growth in the Battery Thermal Management System Market For Automotive. Strict emission norms imposed by global government and regulatory authorities in terms of carbon emissions is expected to broaden the scope of development of the market in the upcoming years. The market is anticipated to gain due to the prevalence of energy efficient technology that lessens heat dissipation through an electric control unit, electric inverter, and water pump in order to recover the complete dynamics of battery thermal management system.
The key players in Battery Thermal Management System Market For Automotive are LG Chem (South Korea), Continental (Germany), GenTherm (U.S.), Robert Bosch (Germany), Valeo (France), Calsonic Kansei (Japan), DANA (U.S.), Hanon Systems (Korea), Samsung SDI (Korea), Mahle (Germany), VOSS Automotive (Germany), and CapTherm Systems (Canada), among others.
The development in the products and services is the leading factor escalating the market’s output and directing the trends that are attaining distinction in the market. The variances in the market are filled due to the implementation of apt supply chain strategies. The amplified level of emphasis on the variety of products is growing the number of customers in the market substantially. The crucial success factors and competitors’ tendencies are progressively rising by the strategies being used by market competitors. The differences seen in terms of strategy execution and creation are changing the growth pace of the market. The evolution patterns are reviewed in tandem to the customer likings to realize the greatest growth, and in the long run, viability. The background for growth plans has fortified the market for prospective new entrants. The fruitful integration of supply chain management is progressively increasing the development of the market.
The Automotive Battery Thermal Management System (BTMS) Market plays a vital role in controlling the thermal behavior of battery cells. The battery thermal management system manufacturers are testing new materials, arrangements, design, and technologies to improve the overall durability of the powertrain technology. Battery manufacturers are facing issues in energy consumption of automotive electrical equipment. Stringent emission norms will enable key battery manufacturers to adopt the latest energy-efficient technologies. In addition to that, energy efficient technology will minimize heat dissipation through an electric inverter, electric control unit, and water pump in order to improve the overall dynamics of battery thermal management system.
Regional Analysis:
The market is segmented based on America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market in future because of government ambition plan for electric vehicles. For instance, Chinese companies, such as BYD Co. and BAIC Motor Corp., and Japanese companies, such as Nissan and Mitsubishi, are investing huge amount money on electric vehicles. America market is second to the Asia Pacific market in battery thermal management system. Thus, the Battery Thermal Management System Market For Automotive is estimated to grow at approximately 16% CAGR during the period 2017-2023.
Battery Thermal Management System Market For Automotive Segmentation:
The Battery Thermal Management System Market For Automotive is segmented based on technology, propulsion, battery capacity, vehicle type and region.
Based on Technology, the market is segmented into air, phase change material, liquid and thermoelectrics.
Based on propulsion, the market is segmented into HEV, BEV, PHEV & FCV. Based on battery capacity, the market is segmented into 0 – 200 KWh, 200 – 500 KWh and > 500 KWh. By vehicle type, the Battery Thermal Management System Market For Automotive is divided into commercial and passenger.
Based on region, the market consists of Europe, APAC, North America and Rest of the world.
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