18 March 2021
Visiongain has published a new report on Automotive Battery Thermal Management System Market Report to 2031: Forecasts By Battery Type (Solid-state and Conventional), By Vehicle Type (Commercial Vehicle and Passenger Vehicle), By Technology (Passive and Active), By Battery Capacity (100kWh, 100-200kWh, 200-500kWh, 500kWh), By Propulsion (Hybrid Electric Vehicle, Battery Electric Vehicle, Fuel Cell Vehicle and Plug-in Electric Vehicle) and By Region. PLUS Profiles of Leading Automotive Battery Thermal Management System Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Automotive Battery Thermal Management System market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. The incrementing demand for different fuel vehicles in the segment and supportive government policies and subsidies are expected to handle the demand for the automotive battery thermal management system market in this segment.
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COVID-19 Impact on Automotive Battery Thermal Management System Market
As Covid-19 has caused a lot of damage in various industries, it has brought automotive industry to a halt too by causing vehicle production and supply disruptions. Analysis shows that it would be a major concern for Lower vehicle sales for automotive OEMs for next few quarters and there will a thin chance for recovery of the market in the end of 2021. However there is growth in demand for battery thermal management system which will help the market to reach at its best.
From the past many years, the automotive industry has witnessed drastic changes. The demand for alternative fuel vehicle and electric vehicle has increased due to strict CO2 emission norms by the government. Such regulations and trends push automakers to manufacture new technology electric vehicle in demand. Initially the automakers were using battery thermal management system to manage the battery temperature but later when demand and need to decrease the weight of the vehicle came in picture the thermal battery management system needed to compel with electric thermal management system. The system developers and manufacturers have started integrating thermal management with electronic components in various modules such as, Inverter-Converter module, Electric Drive, Starter Generator and others. Such integration of the technologies for battery and other applications has enabled the developers and OEMs to achieve increased efficiency at vehicle weight reduction and low cost.
The introduction of new technology and autonomous vehicle has transformed to ease the commute. In recent past, Japan has developed a lithium-ion battery that charges itself without solar cell. The battery becomes tinted and transmits 30% of light, on the exposure to sunlight. A similar kind of battery is being designed in Stanford which has features where it has flexible transparent screen and stores energy. Automakers are focusing to develop the advanced technology battery by using nanotechnology which will prevent battery to discharge quickly and increase the shelf life of the battery. This innovation of lithium-ion battery usage in the market for new application areas will create need of the battery and help the market grow double annually during 2021-2031.
The global Automotive Battery Thermal Management System market is dominated by big players such as LG Chem, Continental AG, Gentherm, Robert Bosch, Valeo, Calsoni Kansei, Dana Corporation, Hanon System, Samsung SDI and CapTherm System. These companies have secure their position in the market to offer wide range of advanced assistance systems.The key strategies adopted by these companies is to sustain their market position are new technology, new product development, Contract agreement and Collaborations.
LG Chem is involving with other of its subsidiaries trying their hands in the basic materials and chemicals business, energy solutions, advanced materials business, IT and electronics materials and others. The company supplies and manufactures various chemicals, displays, and battery materials for industrial, commercial, and consumer use.
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