Market Overview:
The global EV thermal management system market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles across the globe. The market is segmented on the basis of type, application and region. On the basis of type, the market is segmented into forced air system, liquid system, PCM system and thermo electric. Forced air systems are expected to dominate in terms of volume share during the forecast period owing to their low cost and easy installation as compared to other types of systems available in this market.
Product Definition:
EV Thermal Management System is a system that helps to manage the temperature of an electric vehicle. This system is important because it helps to keep the battery and other components of the electric vehicle cool, which helps to extend the life of those components and improve performance.
Forced Air System:
Forced air systems are used to distribute heat from one place to another. It is a mechanical system that uses fans and ducts for dispersing the warm or cold air. The forced air distribution system is an essential component in any energy recovery ventilator (EVTSM). Growth of this market will directly depend on the growth of commercial building automation industry, which in turn depends upon construction sector demand and government regulations across the globe.
Liquid System:
The liquid system is used to cool the electric vehicle (EV) and it's thermal management system. It helps in maintaining optimum temperature of battery, motor & power electronics and reduces risks of overheating which may damage the components. The liquid cooling systems are essential for EVs as they help in increasing range by reducing risks of overheating which may lead to early battery depletion.
Application Insights:
Battery electric vehicles (BEV) dominated the global EV thermal management system market in terms of revenue share in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing government funding for research and development on electric vehicle batteries. Also, several manufacturers are focusing on developing new products that can improve battery life and range. For instance, Tesla developed a thermal management system for its Model 3 with integrated heat shield that helps dissipate excess heat from the battery pack without affecting vehicle performance or efficiency.
Hybrid electric vehicles (HEV) application segment is also expected to witness considerable growth over the forecast period due to rising demand for fuel efficient cars with improved driving dynamics and reduced emissions at lower costs. Several automotive manufacturers such as Ford Motor Company; General Motors; Toyota Group; Honda Motor Co.; Nissan North America Inc.; Hyundai Motor America Inc.; Kia Motors Corporation; Volkswagen AG; BMW AG etc.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth of this region is attributed to increasing government initiatives and investments in EV development, along with growing awareness about climate change. China has been at the forefront of promoting electric vehicles in Asia Pacific owing to its large manufacturing base and strong domestic demand for EVs. In addition, favorable policies such as tax incentives on EVs are also encouraging manufacturers to set up their production plants in China, which will further boost sales across this region.
Europe accounted for a significant share of global EV thermal management system demand owing to stringent regulations regarding carbon emissions from vehicles operating under any kind of powertrain (ICE or HEV).
Growth Factors:
- Increasing demand for electric vehicles due to environmental concerns and government initiatives for promotion of electric vehicles
- Growing demand from the automotive sector for thermal management systems in order to improve the efficiency, performance, and durability of electric vehicles
- Rising R&D expenditure by leading players to develop advanced EV thermal management systems
- Proliferation of start-ups in the EV thermal management system market that are offering innovative technologies and products
- Increasing adoption of EVs in developing countries owing to rising disposable income and improving infrastructure
Scope Of The Report
Report Attributes
Report Details
Report Title
EV Thermal Management System Market Research Report
By Type
Forced Air System, Liquid System, PCM System, Thermo Electric, Others
By Application
Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV)
By Companies
Robert Bosch GmbH, LG Chem Ltd., Gentherm Incorporated, Valeo, 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
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
155
Number of Tables & Figures
109
Customization Available
Yes, the report can be customized as per your need.
Global EV Thermal Management System Market Report Segments:
The global EV Thermal Management System market is segmented on the basis of:
Types
Forced Air System, Liquid System, PCM System, Thermo Electric, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV)
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Robert Bosch GmbH
- LG Chem Ltd.
- Gentherm Incorporated
- Valeo
- 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
Highlights of The EV Thermal Management System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Forced Air System
- Liquid System
- PCM System
- Thermo Electric
- Others
- By Application:
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the EV Thermal Management System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An EV Thermal Management System (ETMS) is a system that helps to manage the temperature of an electric vehicle. The ETMS can help to keep the battery at a safe and optimal temperature, as well as protect the car from overheating.
Some of the key players operating in the ev thermal management system market are Robert Bosch GmbH, LG Chem Ltd., Gentherm Incorporated, Valeo, 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.
The ev thermal management system market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 EV Thermal Management System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 EV Thermal Management System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 EV Thermal Management System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the EV Thermal Management System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global EV Thermal Management System Market Size & Forecast, 2018-2028
4.5.1 EV Thermal Management System Market Size and Y-o-Y Growth
4.5.2 EV Thermal Management System Market Absolute $ Opportunity
Chapter 5 Global EV Thermal Management System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 EV Thermal Management System Market Size Forecast by Type
5.2.1 Forced Air System
5.2.2 Liquid System
5.2.3 PCM System
5.2.4 Thermo Electric
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global EV Thermal Management System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 EV Thermal Management System Market Size Forecast by Applications
6.2.1 Battery Electric Vehicle (BEV)
6.2.2 Hybrid Electric Vehicle (HEV)
6.2.3 Plug-in Hybrid Electric Vehicle (PHEV)
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global EV Thermal Management System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 EV Thermal Management System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America EV Thermal Management System Analysis and Forecast
9.1 Introduction
9.2 North America EV Thermal Management System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America EV Thermal Management System Market Size Forecast by Type
9.6.1 Forced Air System
9.6.2 Liquid System
9.6.3 PCM System
9.6.4 Thermo Electric
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America EV Thermal Management System Market Size Forecast by Applications
9.10.1 Battery Electric Vehicle (BEV)
9.10.2 Hybrid Electric Vehicle (HEV)
9.10.3 Plug-in Hybrid Electric Vehicle (PHEV)
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe EV Thermal Management System Analysis and Forecast
10.1 Introduction
10.2 Europe EV Thermal Management System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe EV Thermal Management System Market Size Forecast by Type
10.6.1 Forced Air System
10.6.2 Liquid System
10.6.3 PCM System
10.6.4 Thermo Electric
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe EV Thermal Management System Market Size Forecast by Applications
10.10.1 Battery Electric Vehicle (BEV)
10.10.2 Hybrid Electric Vehicle (HEV)
10.10.3 Plug-in Hybrid Electric Vehicle (PHEV)
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific EV Thermal Management System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific EV Thermal Management System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific EV Thermal Management System Market Size Forecast by Type
11.6.1 Forced Air System
11.6.2 Liquid System
11.6.3 PCM System
11.6.4 Thermo Electric
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific EV Thermal Management System Market Size Forecast by Applications
11.10.1 Battery Electric Vehicle (BEV)
11.10.2 Hybrid Electric Vehicle (HEV)
11.10.3 Plug-in Hybrid Electric Vehicle (PHEV)
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America EV Thermal Management System Analysis and Forecast
12.1 Introduction
12.2 Latin America EV Thermal Management System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America EV Thermal Management System Market Size Forecast by Type
12.6.1 Forced Air System
12.6.2 Liquid System
12.6.3 PCM System
12.6.4 Thermo Electric
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America EV Thermal Management System Market Size Forecast by Applications
12.10.1 Battery Electric Vehicle (BEV)
12.10.2 Hybrid Electric Vehicle (HEV)
12.10.3 Plug-in Hybrid Electric Vehicle (PHEV)
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) EV Thermal Management System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) EV Thermal Management System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) EV Thermal Management System Market Size Forecast by Type
13.6.1 Forced Air System
13.6.2 Liquid System
13.6.3 PCM System
13.6.4 Thermo Electric
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) EV Thermal Management System Market Size Forecast by Applications
13.10.1 Battery Electric Vehicle (BEV)
13.10.2 Hybrid Electric Vehicle (HEV)
13.10.3 Plug-in Hybrid Electric Vehicle (PHEV)
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 EV Thermal Management System Market: Competitive Dashboard
14.2 Global EV Thermal Management System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Robert Bosch GmbH
14.3.2 LG Chem Ltd.
14.3.3 Gentherm Incorporated
14.3.4 Valeo
14.3.5 Calsonic Kansei Corporation
14.3.6 Samsung SDI
14.3.7 Dana Incorporated
14.3.8 CapTherm Systems
14.3.9 Hella GmbH & Co. KGaA
14.3.10 BorgWarner Inc.
14.3.11 Denso Corporation
14.3.12 Continental AG
14.3.13 MAHLE GmbH
14.3.14 VOSS Automotive GmbH
14.3.15 Visteon Corporation
