Battery Thermal Management System Market Size, Share, Trends, Growth Outlook

Global Battery Thermal Management System Market Size is Valued at $4.1 Billion in 2024 and is forecast to register a growth rate (CAGR) of 15.2% to reach $12.7 Billion by 2032.

The global Battery Thermal Management System Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Vehicle (Passenger Vehicles, Commercial Vehicles), By Battery (Li-ion, Solid state), By Propulsion (BEV, FCEV, PHEV), By Battery Capacity (Below 100 KWH, 100 to 200 KWH, 200 to 500 KWH, Above 500 KWH), By Offering (BTMS with Battery, BTMS without Battery)

An Introduction to Battery Thermal Management System Market

The Battery Thermal Management System (BTMS) Market is expanding as the adoption of electric vehicles (EVs) and energy storage systems increases. BTMS is crucial for maintaining optimal battery temperature, ensuring safety, and enhancing performance and lifespan. The market growth is driven by advancements in battery technology, the increasing focus on EV efficiency and safety, and supportive government policies promoting the adoption of clean energy solutions. Innovations in cooling technologies, materials, and integration with vehicle systems are further propelling the BTMS market.

Battery Thermal Management System Market Competitive Landscape

The market report analyses the leading companies in the industry including Calsonic Kansei Corp, Continental AG, Dana Ltd, Gentherm Inc, Hanon Systems, LG Chem Ltd, Mahle GmbH, Robert Bosch GmbH, Samsung SDI Company Ltd, Valeo, Webasto Group, and others.

Battery Thermal Management System Market Dynamics

Battery Thermal Management System Market Trend: Electrification of Automotive Industry

A significant trend in the Battery Thermal Management System (BTMS) Market is the accelerating electrification of the automotive industry, driving the demand for advanced thermal management solutions to ensure the optimal performance, safety, and longevity of electric vehicle (EV) batteries. With the transition towards electric propulsion systems to reduce emissions and dependence on fossil fuels, there is a growing need for efficient cooling and heating systems to maintain battery temperature within the optimal operating range. BTMS solutions play a critical role in managing battery temperature fluctuations, mitigating thermal runaway risks, and extending battery lifespan, thereby supporting the widespread adoption of electric vehicles and hybrid electric vehicles (HEVs) across global markets.

Battery Thermal Management System Market Driver: Increasing Adoption of Li-ion Batteries

The increasing adoption of lithium-ion (Li-ion) batteries in various applications such as electric vehicles, renewable energy storage systems, and consumer electronics is a major driver fueling the growth of the Battery Thermal Management System (BTMS) Market. As Li-ion batteries offer higher energy density, longer cycle life, and faster charging capabilities compared to traditional battery chemistries, they have become the preferred choice for powering modern electrified systems. However, efficient thermal management is essential to prevent overheating, thermal runaway, and degradation of Li-ion batteries, particularly in high-power and high-energy applications. BTMS solutions address these challenges by providing effective heat dissipation, temperature regulation, and thermal insulation to optimize battery performance and safety, driving demand for BTMS technologies across diverse industries.

Battery Thermal Management System Market Opportunity: Development of Advanced Cooling Technologies

One potential opportunity within the Battery Thermal Management System (BTMS) Market lies in the development of advanced cooling technologies that offer superior thermal performance, energy efficiency, and reliability. With the increasing demand for higher power density and faster charging rates in electric vehicles and energy storage systems, there is a growing need for innovative cooling solutions capable of dissipating heat more effectively while minimizing energy consumption and system complexity. Opportunities exist for the integration of novel cooling techniques such as phase change materials, microchannel heat exchangers, and active liquid cooling systems into BTMS designs to enhance heat transfer efficiency, reduce system weight and footprint, and improve overall battery performance. By focusing on the development of next-generation cooling technologies, BTMS manufacturers can address evolving customer requirements, differentiate their offerings in the market, and capitalize on the growing demand for advanced thermal management solutions in electrified applications.
Battery Thermal Management System Market Share Analysis: Passenger Vehicles generated the highest revenue in 2024In the realm of Battery Thermal Management Systems (BTMS), the passenger vehicles segment emerges as the dominant force, spearheading Market expansion. With the rapid electrification of the automotive industry and the surging demand for electric vehicles (EVs), the need for effective thermal management solutions has become paramount to ensure battery efficiency, longevity, and safety. Passenger vehicles, comprising a significant portion of the EV Market, are driving the adoption of BTMS to address thermal challenges and optimize battery performance. As automakers intensify their focus on sustainable mobility solutions, the passenger vehicles segment is poised to remain the primary contributor to the burgeoning BTMS Market, reflecting the pivotal role of thermal management in the evolution of electric transportation.Battery Thermal Management System Market Share Analysis: Solid State Batteries is poised to register the fastest CAGR over the forecast period to 2030Solid state batteries emerge as the frontrunners in propelling the rapid expansion of the Battery Thermal Management System (BTMS) Market through 2030. With the electrification of various industries accelerating, particularly in automotive and energy storage sectors, solid state batteries offer a compelling solution with enhanced safety, energy density, and longevity compared to traditional lithium-ion counterparts. As the demand for electric vehicles and grid storage solutions intensifies, the need for efficient thermal management becomes imperative to ensure optimal battery performance and safety. Solid state batteries, with their inherent advantages and potential to revolutionize energy storage, are set to drive significant growth in the BTMS Market, cementing their position as the cornerstone of future battery technologies.Battery Thermal Management System Market Share Analysis: Battery Electric Vehicles (BEV) generated the highest revenue in 2024In the landscape of Battery Thermal Management Systems (BTMS), Battery Electric Vehicles (BEVs) emerge as the unrivaled leaders, commanding the largest share of the Market. As the automotive industry undergoes a profound shift towards electrification, driven by environmental concerns and regulatory mandates, BEVs represent the forefront of this transformation. With their reliance solely on battery power for propulsion, BEVs necessitate robust thermal management systems to optimize battery performance, range, and longevity. As a result, the demand for BTMS in the BEV segment far surpasses that of Fuel Cell Electric Vehicles (FCEVs) and Plug-in Hybrid Electric Vehicles (PHEVs), solidifying BEVs' dominance in shaping the future of automotive propulsion and thermal management technologies.

Battery Thermal Management System Market Report Segmentation

By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)

Battery Thermal Management System Market Companies Profiled in the Study

Calsonic Kansei Corp
Continental AG
Dana Ltd
Gentherm Inc
Hanon Systems
LG Chem Ltd
Mahle GmbH
Robert Bosch GmbH
Samsung SDI Company Ltd
Valeo
Webasto Group
*- List Not Exhaustive

TABLE OF CONTENTS

1 Introduction to 2024 Battery Thermal Management System Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 Executive Summary
3.1 Global Battery Thermal Management System Market Size Outlook, $ Million, 2021 to 2030
3.2 Battery Thermal Management System Market Outlook by Type, $ Million, 2021 to 2030
3.3 Battery Thermal Management System Market Outlook by Product, $ Million, 2021 to 2030
3.4 Battery Thermal Management System Market Outlook by Application, $ Million, 2021 to 2030
3.5 Battery Thermal Management System Market Outlook by Key Countries, $ Million, 2021 to 2030

4 Market Dynamics
4.1 Key Driving Forces of Battery Thermal Management System Industry
4.2 Key Market Trends in Battery Thermal Management System Industry
4.3 Potential Opportunities in Battery Thermal Management System Industry
4.4 Key Challenges in Battery Thermal Management System Industry

5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Battery Thermal Management System Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook

6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 Global Battery Thermal Management System Market Outlook by Segments
7.1 Battery Thermal Management System Market Outlook by Segments, $ Million, 2021- 2030
By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery

8 North America Battery Thermal Management System Market Analysis and Outlook To 2030
8.1 Introduction to North America Battery Thermal Management System Markets in 2024
8.2 North America Battery Thermal Management System Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Battery Thermal Management System Market size Outlook by Segments, 2021-2030
By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery

9 Europe Battery Thermal Management System Market Analysis and Outlook To 2030
9.1 Introduction to Europe Battery Thermal Management System Markets in 2024
9.2 Europe Battery Thermal Management System Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Battery Thermal Management System Market Size Outlook by Segments, 2021-2030
By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery

10 Asia Pacific Battery Thermal Management System Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Battery Thermal Management System Markets in 2024
10.2 Asia Pacific Battery Thermal Management System Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Battery Thermal Management System Market size Outlook by Segments, 2021-2030
By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery

11 South America Battery Thermal Management System Market Analysis and Outlook To 2030
11.1 Introduction to South America Battery Thermal Management System Markets in 2024
11.2 South America Battery Thermal Management System Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Battery Thermal Management System Market size Outlook by Segments, 2021-2030
By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery

12 Middle East and Africa Battery Thermal Management System Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Battery Thermal Management System Markets in 2024
12.2 Middle East and Africa Battery Thermal Management System Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Battery Thermal Management System Market size Outlook by Segments, 2021-2030
By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery

13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Calsonic Kansei Corp
Continental AG
Dana Ltd
Gentherm Inc
Hanon Systems
LG Chem Ltd
Mahle GmbH
Robert Bosch GmbH
Samsung SDI Company Ltd
Valeo
Webasto Group

14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

By Vehicle
Passenger Vehicles
Commercial Vehicles
By Battery
Li-ion
Solid state
By Propulsion
BEV
FCEV
PHEV
By Battery Capacity
<100 KWH
100-200 KWH
200-500 KWH
>500 KWH
By Offering
BTMS with Battery
BTMS without Battery

Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)