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Automotive Battery Thermal Management Market: Snapshot

The growing popularity of electric vehicles across the globe will serve as a prominent growth contributor for the automotive battery thermal management market during the forecast period. The rising disposable income is also encouraging many individuals to buy passenger vehicles, which will further influence the growth of the automotive battery thermal management market.

Battery thermal management systems are prominently used for tackling poor performance and battery overheating. An efficient automotive battery thermal management system can help contribute significantly to battery life and can assist in extending the overall lifespan of the battery. In addition, the use of automotive battery thermal management systems ensures a proper thermal working environment and enhances the overall durability of the battery. Thus, these benefits help in boosting the growth prospects of the automotive battery thermal management market.

On the basis of component, the automotive battery thermal management market can be segmented into air filter, water pump, condenser, electric compressor, heater control unit, heat exchanger, and others. The utilization of automotive battery thermal management systems in applications such as air conditioning systems, transmission systems, engine cooling, electric vehicle battery thermal system, heated steering, and others will bring profitable growth.

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How is the Competitive Landscape of Automotive Battery Thermal Management Market?

The automotive battery thermal management market has a diverse range of players. Many players are involved in intense competition for increasing their revenues. R&D activities form an important component of the overall growth structure of the automotive battery thermal management market. The players indulge in these activities for developing new techniques and mechanisms that assist in increasing their sales.

Strategic collaborations also play a crucial role in the growth of the automotive battery thermal management market. Mergers, acquisitions, joint ventures, and partnerships help in boosting the growth of the automotive battery thermal management market.

Some well-entrenched players in the automotive battery thermal management market are Robert Bosch GmbH, BorgWarner, MAHLE GmbH, Denso Corporation, Valeo, ZF Friedrichshafen, and Aptiv Inc.

What are Key Trends across Automotive Battery Thermal Management Market?

Booming Electric Vehicles Sales to Influence Growth of Automotive Battery Thermal Management Market

The sales of electric cars are increasing at a rapid rate around the world. According to the statistics by the International Energy Agency (IEA), the global electric car stock hit 10 Mn, which is a 43% increase over 2019. The findings further highlighted that nearly two-third of new electric car registrations accounted for battery electric vehicles (BEVs). These findings shed light on the growing influence of electric vehicles across the globe, eventually increasing the demand for automotive battery thermal management systems.

Development of Batteries with High Charging Capabilities to Bring Considerable Growth for Automotive Battery Thermal Management Market

Manufacturers of electric vehicle (EV) batteries are increasing their efforts to increase the operational range of batteries. This aspect leads to high heat generation, which can negatively impact the life of battery cells. Thus, the players are focusing on developing advanced cooling mechanisms to control the high battery temperatures. For instance, Masterflux recently introduced the eBTMS (electric battery thermal management system) platform for optimizing the needs of cooling in EVs for efficient batter cooling.

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What are Regional Dimensions of Automotive Battery Thermal Management Market?

Europe is prognosticated to account for the highest growth share in terms of regional contribution for the automotive battery thermal management market. The stringent emission norms introduced by various countries in the European Union is expected to increase the sales of EVs, ultimately contributing to the growth of the automotive battery thermal management market. Asia Pacific is also estimated to emerge as a rapid growth-generating region for the automotive battery thermal management market. The presence of automotive manufacturing industries in India, China, and Japan will serve as a vital growth-boosting factor.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Thermal Management System Market