EV thermal management systems Market Overview:
EV
thermal management systems perform various tasks
in electric vehicles, including heat transfer and waste heat recovery. Thermal
management systems monitor and regulate the temperature in the cabin,
batteries, and HVAC components, among others. These systems thus provide an
enhanced user experience for drivers by making the cabin more comfortable, with
regard to temperature.
The excess heat from batteries is also redirected
by electric vehicle thermal management systems, making the performance smoother
and more effective. In electric vehicles, the waste heat recovery systems also
play an important role, as they can enhance the range of the vehicle
considerably by diverting the heat towards the batteries and storing it as
electrical energy.
The growing demand for electric vehicles is the
primary driver for the global electric vehicle thermal management system
market. Electric vehicles have become ever more popular among consumers all
over the world due to the fact that they present no threat of toxic vehicular
emissions. Since they present no risk to the environment, electric vehicles
have become the vanguard of the environmental movement sweeping the world.
The global electric vehicle thermal management system market is
expected to exhibit a strong 9% CAGR over the forecast period from 2022 to
2030, according to the latest research report from Market Research Future
(MRFR). The global electric vehicle thermal management system market is
primarily driven by the growing demand for electric vehicles, according to the
report.
The report provides readers with a complete
overview of the global electric vehicle thermal management system market,
including an assessment of the major drivers and restraints affecting the
global market. The major players operating in the global electric vehicle
thermal management system market are also assessed in the report. The impact of
the COVID-19 pandemic on the global electric vehicle thermal management system
market is also assessed in the report.
The following are some of the key players in
the global EV thermal management systems market:
·
Denso Corporation
·
Valeo
·
Hanon Systems
·
LG Chem
·
Robert Bosch GmbH
·
BorgWarner
·
Mahle GmbH
·
Modine Manufacturing
Company
·
Gentherm
·
VOSS Automotive GmbH
·
Cummins Inc.
·
Huayu Automotive
Systems
These companies offer a wide range of EV
thermal management systems products and solutions, including:
·
Air conditioning
systems
·
Battery cooling
systems
·
Power electronics
cooling systems
·
Cabin heating systems
·
Integrated thermal
management systems
These companies are also investing heavily in
research and development to develop new and more efficient EV thermal
management systems.
In addition to the major players listed above,
there are a number of smaller companies and startups that are also developing
and producing EV thermal management systems. These companies are often focused
on developing innovative new technologies or targeting specific niche markets.
The EV thermal management systems market is
expected to grow significantly in the coming years, driven by the increasing
demand for electric vehicles. The key players in this market are
well-positioned to benefit from this growth, thanks to their strong product
portfolios, global reach, and commitment to innovation.
Segmentation:
The global electric vehicle thermal management
system market is segmented on the basis of system, component type, technology,
application, vehicle type, and region.
By system, the global electric vehicle thermal
management system market is segmented into heating, ventilation, and air
conditioning (HVAC), powertrain cooling, fluid transport, and others.
By component type, the global electric vehicle
thermal management system market is segmented into motor, battery, and cabin
area.
By technology, the global electric vehicle thermal
management system market is segmented into active transmission warmup, exhaust
gas recirculation, reduced HVAC system loading, and others.
By application, the global electric vehicle
thermal management system market is segmented into engine cooling, air
conditioning, heated steering, waste heat recovery, transmission system,
heated/ventilated seats, and others.
By vehicle type, the global electric vehicle
thermal management system market is segmented into battery electric vehicles
(BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles
(PHEV).
Regional Analysis:
The global electric vehicle thermal
management system market is dominated by Asia Pacific
as of 2018. The Asia Pacific market is majorly dominated by China, which has
enacted several policies supporting the growth of the electric vehicles market
in recent years. The high volume of the China market is likely to remain a
major driver for the global electric vehicle thermal management system market
over the forecast period. India is also likely to support the growth of the
electric vehicle market over the coming years, leading to growing demand for
electric vehicle thermal management systems in Asia Pacific. Europe and North
America are also important regional markets.
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