Automotive Battery Thermal Management System Global Market to Reach $4.95 Billion by 2026 at a 17.6% CAGR
DUBLIN, Nov. 23, 2022 /PRNewswire/ -- The "Automotive Battery Thermal Management System Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
For instance, according to the news article published by the Economic Times in 2021, the demand for the electric vehicles will increase up to 15times in the coming 6 months and the demand will be driven by the increase in fuel prices and also the incentives rolled out by the state government and central government. Leading e-commerce companies are beginning to consider electrifying delivery vehicles and ordering new products as the government actively promotes the use of e-mobility to reduce crude oil imports and reduce vehicle pollution. Therefore, rise in demand for electric vehicles is expected to boost the demand for automotive battery thermal management systems during the forecast period.
Innovative solutions based on thermoelectric technology is a key trend gaining popularity in the automotive battery thermal management system market. Major companies in the automotive battery thermal management system market are advancing in their new technologies and research and development of the automotive battery thermal management system to meet industry demands and strengthen their business position. For instance, in May 2022, Modine Manufacturing Company, a USA-based manufacturer of thermal management solutions launched Evantage Thermal Management systems for commercial chassis. Evantage BTMS optimizes the temperature range for the entire range of batteries with a single unit, while minimizing power draw.
Key Topics Covered:
11. Japan Automotive Battery Thermal Management System Market
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SOURCE Research and Markets