Global Automotive Battery Thermal Management System Market Will Register a CAGR of 27.3% by 2025

Publisher: QYResearch
Published Date: 2019/7/30

The global market for automotive battery thermal management system will witness significant growth due to the growing demand for electric vehicles. Some of the factors such as long lifespan, increased efficiency, and improved battery performance are likely to propel the growth of the market. Other factors such as stringent government regulations, government subsidies, and incentives, increasing awareness about the global temperature rise, and international agreements for reducing air pollution from the transportation industry are also likely to fuel the growth of the market in the near future. In addition, the rising implementation of the HVAC system in automobiles will drive market growth.

Moreover, the active technology of the market will have a higher adoption rate in the forthcoming years. The active technology, which uses liquid or air for heating and cooling the battery cells that has enabled the manufacturers and developers to earn maximum efficiency and performance with an extended battery life. All of these factors are making a positive impact on the overall market.

QY Research states that by 2025 the global automotive battery thermal management market will reach US$1646 mn from US$288 mn in 2018. The market is expected to register a CAGR of 27.3% during the forecast period.

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