EV Thermal Management System: Introduction
- EV thermal management system helps reduce the excessive heat generated during the vehicle running. Battery cells not only generate electricity but also generate excessive heat, which is transferred from the battery pack, and this requires a battery cooling system. Major manufacturers of electric vehicles introducing thermal management systems in their electric vehicles helps increase the vehicle range.
Key Drivers of EV Thermal Management System Market
- Rise in demand for vehicle electrification across the globe, due to enactment of stringent emission norms across the globe to reduce the emission of harmful gases from vehicles, is likely to boost the EV thermal management system market across the globe. Major vehicle manufacturer are trying to increase the vehicle range which requires high voltage batteries and to maintain the excessive heat in power transmission system, thermal management system is necessary, which in turn is likely to boost the EV thermal management system market across the globe
- Rise in government investment to boost production of electric vehicles across the globe is likely to fuel the EV thermal management system market across the globe. Rise in penetration of belt starter generator, motor drivers and inverters in electric vehicle is likely to create major opportunities for EV thermal management system market during the forecast period. Rise in demand for light weight electric vehicle owing to increase the vehicle range is anticipated to enhance the EV thermal management system market across the globe
Europe & Asia Pacific to hold significant share of global EV thermal management system market
- Europe is projected to hold for a major share of the global EV thermal management system market due to a rise in the demand for electric vehicle across the region. Rapid expansion of electric vehicle component manufacturers across the region also boosts the EV thermal management system market. Europe has major presence of original equipment manufacturer and tier-1 supplier including Valeo, Robert Bosch and MAHLE GmbH who have advanced research and development facilities regarding the cooling and heating system, which is likely to witness a major growth for EV thermal management system market across the Europe
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global EV thermal management system market due to an increase in production of electric vehicles across the region. Rapid expansion manufacturing industries across the region is likely to create a platform for electric vehicle market, which in turn is likely to boost the EV thermal management system market across the region
Key Players Operating in EV Thermal Management System Market
The EV thermal management system market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the EV thermal management system market are:
- Robert Bosch GmbH
- LG Chem Ltd.
- Gentherm Incorporated
- Calsonic Kansei Corporation
- Samsung SDI
- Dana Incorporated
- CapTherm Systems
- Hella GmbH & Co. KGaA
- BorgWarner Inc.
- Denso Corporation
- Continental AG
- MAHLE GmbH
- VOSS Automotive GmbH
- Visteon Corporation
Global EV Thermal Management System Market: Research Scope
Global EV Thermal Management System Market, by Electric Vehicle Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Global EV Thermal Management System Market, by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Global EV Thermal Management System Market, by Technology
- Forced Air System
- Liquid System
- PCM System
- Thermo Electric
Global EV Thermal Management System Market, by Battery Type
- Lithium-Ion Battery
- Lead Acid Battery
Global EV Thermal Management System Market, by Sales Channel
Global EV Thermal Management System Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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
- 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.