Market Overview:
The global thermal management system for EV market is estimated to grow from USD 1.5 billion in 2018 to USD 3.8 billion by 2030, at a CAGR of 12.9% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for electric vehicles and rising concerns about environment pollution. The battery thermal management system segment is expected to hold the largest share of the global thermal management system for EV market during the forecast period.
Product Definition:
Thermal management system for EV is a system used to manage the temperature of the battery, motor and other components in an electric vehicle. The thermal management system helps to keep the battery and other components within their ideal operating temperature range, which improves performance, efficiency and lifespan.
Battery Thermal Management System:
Battery Thermal Management System (BTMS) is a technology that helps in controlling and monitoring the temperature of battery during charging and discharging. It also helps to maintain optimum working temperature of battery by reducing its exposure to extreme heat or cold. BTMS has various applications such as electric vehicles, grid energy storage systems, portable appliances like laptops & mobile phones etc.
The global market for Battery Thermal Management System (BTMS) was valued at USD 15 million in 2015.
Automotive HVAC:
Automotive HVAC (Heating, Ventilation and Air Conditioning) is a system that provides heat and air conditioning to vehicles. The automotive HVAC systems are designed in such a way that they can maintain the internal temperature of the vehicle at an optimum level.
The automotive industry has been witnessing technological advancements for many years now; however, there have still been some aspects of old technology used in modern automobiles.
Application Insights:
The commercial vehicles segment held the largest share of over 70.0% in 2017. The segment is expected to witness significant growth owing to rising demand for passenger and commercial vehicles in developing countries such as India, China and Brazil. Furthermore, increasing government funding for promoting electric vehicle manufacturing will boost the demand further over the forecast period.
Passenger vehicle manufacturers are also focusing on providing aftersales services including product installation at their dealerships along with other premium features that enhance customer satisfaction regarding EVs. This factor is anticipated to fuel market growth during the forecast period particularly in developed regions such as North America and Europe where most of the production units are located currently due to economies of scale benefits offered by large production facilities coupled with technological advancements made within a short span since 2014 when Tesla Motors started delivering its Model S cars across U.S.
Regional Analysis:
Asia Pacific regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in automotive production, sales, and investments. China emerged as a global leader in automotive manufacturing and sales with major players such as Volkswagen Group, BMW Group, Honda Motor Company Ltd., Toyota Industries Corporation among others investing heavily in this region.
The European regional market accounted for a significant share of global revenue owing to early adoption of EVs coupled with favorable government policies across countries such as Germany and Norway that have introduced incentives on thermal management systems required for EV batteries.
Growth Factors:
- Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 20% during the forecast period. This will result in an increase in the demand for thermal management systems for EVs.
- Rising awareness about environment-friendly vehicles: There is a growing awareness among consumers about the benefits of electric vehicles over traditional petrol and diesel-powered cars. This is driving the growth of the EV market, which, in turn, is boosting demand for thermal management systems.
- Technological advancements: Thermal management system manufacturers are constantly innovating their products to meet the increasing demands of customers. This has resulted in better and more efficient thermal management systems that can handle higher power densities and temperatures without any issues.
Scope Of The Report
Report Attributes
Report Details
Report Title
Thermal Management System for EV Market Research Report
By Type
Battery Thermal Management System, Automotive HVAC, Others
By Application
Passenger Vehicles, Commercial Vehicles
By Companies
Robert Bosch, Continental, Valeo, Calsonic Kansei, Gentherm, Dana, Mahle, LG Chem, Samsung SDI, VOSS Automotive, Robert Bosch, Grayson Thermal Systems
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
209
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Thermal Management System for EV Market Report Segments:
The global Thermal Management System for EV market is segmented on the basis of:
Types
Battery Thermal Management System, Automotive HVAC, 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
Passenger Vehicles, Commercial Vehicles
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
- Continental
- Valeo
- Calsonic Kansei
- Gentherm
- Dana
- Mahle
- LG Chem
- Samsung SDI
- VOSS Automotive
- Robert Bosch
- Grayson Thermal Systems
Highlights of The Thermal Management System for EV 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:
- Battery Thermal Management System
- Automotive HVAC
- Others
- By Application:
- Passenger Vehicles
- Commercial Vehicles
- 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 Thermal Management System for EV 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.
How you may use our products:
- Correctly Positioning New Products
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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?
A thermal management system (TMS) for electric vehicles is a system that uses energy storage and/or generation to manage the temperature of an electric vehicle. The goal of a TMS is to keep the battery pack as close to its operating temperature as possible, which helps extend battery life and improve performance.
Some of the major companies in the thermal management system for ev market are Robert Bosch, Continental, Valeo, Calsonic Kansei, Gentherm, Dana, Mahle, LG Chem, Samsung SDI, VOSS Automotive, Robert Bosch, Grayson Thermal Systems.
The thermal management system for ev market is expected to grow at a compound annual growth rate of 12.9%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Thermal Management System for EV 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 Thermal Management System for EV Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Thermal Management System for EV 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 Thermal Management System for EV 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 Thermal Management System for EV Market Size & Forecast, 2018-2028
4.5.1 Thermal Management System for EV Market Size and Y-o-Y Growth
4.5.2 Thermal Management System for EV Market Absolute $ Opportunity
Chapter 5 Global Thermal Management System for EV 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 Thermal Management System for EV Market Size Forecast by Type
5.2.1 Battery Thermal Management System
5.2.2 Automotive HVAC
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Thermal Management System for EV 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 Thermal Management System for EV Market Size Forecast by Applications
6.2.1 Passenger Vehicles
6.2.2 Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Thermal Management System for EV 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 Thermal Management System for EV 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 Thermal Management System for EV Analysis and Forecast
9.1 Introduction
9.2 North America Thermal Management System for EV 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 Thermal Management System for EV Market Size Forecast by Type
9.6.1 Battery Thermal Management System
9.6.2 Automotive HVAC
9.6.3 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 Thermal Management System for EV Market Size Forecast by Applications
9.10.1 Passenger Vehicles
9.10.2 Commercial Vehicles
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 Thermal Management System for EV Analysis and Forecast
10.1 Introduction
10.2 Europe Thermal Management System for EV 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 Thermal Management System for EV Market Size Forecast by Type
10.6.1 Battery Thermal Management System
10.6.2 Automotive HVAC
10.6.3 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 Thermal Management System for EV Market Size Forecast by Applications
10.10.1 Passenger Vehicles
10.10.2 Commercial Vehicles
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 Thermal Management System for EV Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Thermal Management System for EV 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 Thermal Management System for EV Market Size Forecast by Type
11.6.1 Battery Thermal Management System
11.6.2 Automotive HVAC
11.6.3 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 Thermal Management System for EV Market Size Forecast by Applications
11.10.1 Passenger Vehicles
11.10.2 Commercial Vehicles
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 Thermal Management System for EV Analysis and Forecast
12.1 Introduction
12.2 Latin America Thermal Management System for EV 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 Thermal Management System for EV Market Size Forecast by Type
12.6.1 Battery Thermal Management System
12.6.2 Automotive HVAC
12.6.3 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 Thermal Management System for EV Market Size Forecast by Applications
12.10.1 Passenger Vehicles
12.10.2 Commercial Vehicles
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) Thermal Management System for EV Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Thermal Management System for EV 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) Thermal Management System for EV Market Size Forecast by Type
13.6.1 Battery Thermal Management System
13.6.2 Automotive HVAC
13.6.3 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) Thermal Management System for EV Market Size Forecast by Applications
13.10.1 Passenger Vehicles
13.10.2 Commercial Vehicles
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 Thermal Management System for EV Market: Competitive Dashboard
14.2 Global Thermal Management System for EV Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Robert Bosch
14.3.2 Continental
14.3.3 Valeo
14.3.4 Calsonic Kansei
14.3.5 Gentherm
14.3.6 Dana
14.3.7 Mahle
14.3.8 LG Chem
14.3.9 Samsung SDI
14.3.10 VOSS Automotive
14.3.11 Robert Bosch
14.3.12 Grayson Thermal Systems
