The automotive battery thermal management system market is estimated to be USD 1.29 billion in 2017 and is projected to grow at a CAGR of 16.05%

LONDON, March 1, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5351028


The automotive battery thermal management system market is estimated to be USD 1.29 billion in 2017 and is projected to grow at a CAGR of 16.05% during the forecast period (2017–2025), to reach a market size of USD 4.24 billion by 2025. The market growth is primarily driven by factors such as an increase in demand for electric vehicles due to government policies and subsidies and technological advancements.

The integration of automotive battery thermal management system with other electric thermal management systems is another major driver for the automotive battery thermal management system market. However, the design complexities of components used for battery thermal management system can hinder the growth of this market.

FCV segment is the fastest growing segment by propulsion in the automotive battery thermal management system market
The FCV segment is estimated to be the fastest growing segment, by volume as well as value, of the automotive battery thermal management system market during the forecast period. The PHEV segment is also expected to witness considerable growth during the forecast period. The HEV and BEV segments will witness steady growth in the automotive battery thermal management system market.

Passive technology is estimated to be the largest segment of the automotive battery thermal management system market
The passive technology segment is projected to hold the largest market share during the forecast period. The growth of this technology can be attributed to the increased demand for HEV and PHEV segments. The growth can also be attributed to the high growth projections of HEVs in countries such as Japan, Canada, and China.

Asia Pacific region constitutes the largest automotive battery thermal management system market
Asia Pacific is estimated to be the largest market for automotive battery thermal management system during the forecast period. The market growth in the region can be attributed to the increasing sales of electric vehicles in countries such as China and Japan.

The electric vehicle sales in China and Japan are expected to increase from 0.49 million units and 1.09 million units in 2016 to 2.17 million units and 2.1 million units in 2022, respectively. In addition, the Chinese government's move of working on a timetable to end the production and sales of gasoline as well as diesel cars is expected to increase the electric vehicle market in the Asia Pacific region.

Likewise, the Japanese government's "Next-Generation Vehicle Strategy 2010" aims to increase the market share of electric vehicles to 50% of the total vehicle sales by 2020. Thus, the market for automotive battery thermal management system is also slated to increase with the increasing sales of electric vehicles in the region. The automotive battery thermal management system market in India is estimated to grow at the highest rate in the region.

This growth can be attributed to the increased adoption of electric vehicles and government policies and incentives. India is also enhancing its R&D capability through joint efforts with various countries.

BREAKDOWN OF PRIMARIES

The study contains insights provided by various industry experts, ranging from hybrid system component suppliers to hybrid system suppliers and OEMs. The break-up of the primaries is as follows:
• By Company Type – OEMs - 32%, Tier-1 - 52%, and Tier 2 (Battery thermal manufacturers) - 16%
• By Designation - C level – 28%, D level – 22%, and Others (Product Specialist)-50%
• By Region – Europe-30%, Asia Pacific - 30%, and North America - 40%

The report provides detailed profiles of major companies in the battery thermal management system market which include LG Chem (South Korea), Continental (Germany), GenTherm (US), Robert Bosch (Germany), Valeo (France), Calsonic Kansei (Japan), DANA (US), Hanon Systems (Korea), Samsung SDI (Korea), Mahle (Germany), VOSS Automotive (Germany), and CapTherm Systems (Canada).

Research Coverage:
The report analyzes the automotive battery thermal management system market across different verticals and regions. It aims at estimating the market size and future growth potential of the automotive battery thermal management system market by region, propulsion, technology, battery capacity, battery type, and vehicle type. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Reasons to buy the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the automotive battery thermal management system market. It will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

Download the full report: https://www.reportbuyer.com/product/5351028

About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers

For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]  
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com  

SOURCE ReportBuyer

Related Links

http://www.reportbuyer.com