Battery Thermal Management System Cooling Plates Market Size to Grow USD 3260 Million by 2030 at a CAGR of 30% | Valuates Reports
BANGALORE, India, July 25, 2024 /PRNewswire/ -- Battery Thermal Management System Cooling Plates Market is Segmented by Type (Harmonica Tube Type Battery Cooling Plates, Stamping Type Battery Cooling Plates, Inflation Type Battery Cooling Plates), by Application (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV)) : Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global Battery Thermal Management System Cooling Plates Market was valued at USD 479 Million in 2023 and is anticipated to reach USD 3260 Million by 2030, witnessing a CAGR of 30.0% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Battery Thermal Management System Cooling Plates Market:
Due to the growing popularity of electric vehicles (EVs) and the demand for effective thermal management solutions to prolong the life of batteries, the market for Battery Thermal Management System (BTMS) cooling plates is expanding quickly. Cooling plates, which are essential parts of BTMS, are made to disperse heat produced during battery operation, preventing overheating and guaranteeing maximum battery performance. The need for BTMS cooling plates is mostly being driven by the expanding EV sector, which is being pushed by strict emission restrictions and a global trend towards sustainable transportation systems. Furthermore, in order to handle increased energy densities, sophisticated cooling systems are required due to developments in battery technology and the increasing production of high-performance electric vehicles.
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TRENDS INFLUENCING THE GROWTH OF THE BATTERY THERMAL MANAGEMENT SYSTEM COOLING PLATES MARKET:
Battery electric vehicles (BEVs) rely heavily on stamping type battery cooling plates because of their effective thermal management characteristics. The improved heat dissipation provided by these plates guarantees the best possible battery temperature and performance. The durability and efficiency of BEV batteries are contingent upon the stamping process's accuracy and homogeneity, which yield constant quality and dependability. Effective battery temperature management systems are becoming important as the demand for BEVs rises due to the worldwide movement towards sustainable transportation. Consequently, the market for Battery Thermal Management System Cooling Plates continues to expand as producers look for dependable and effective cooling options to keep up with the rising volume of BEVs being produced.
Because of their high cooling efficiency and lightweight construction, harmonica tube type battery cooling plates are driving the growth of the market for battery thermal management systems cooling plates. These plates have a number of parallel tubes that improve heat transmission and enable battery cell temperature management, both of which are essential for preserving the longest possible battery life and best possible performance. Harmonica tube cooling plates are perfect for integrating into various battery configurations due to their small and flexible form. This meets the growing need for innovative cooling solutions in electric cars. The demand for effective thermal management will increase along with the use of electric vehicles, which will drive up demand for these cutting-edge cooling plates.
The market for battery thermal management system cooling plates is expanding at a substantial rate due to plug-in hybrid electric vehicles (PHEVs), which require sophisticated cooling solutions to maintain their intricate battery systems. In order to maintain battery safety and durability, plug-in hybrid electric vehicles (PHEVs) need effective thermal management to balance the performance of internal combustion and electric components. High-performance cooling plates are becoming more in demand as PHEVs gain popularity because of their longer driving range and lower emissions. Stricter environmental laws and customer preferences for more environmentally friendly transportation alternatives are driving this trend even faster, forcing battery makers to use better cooling technologies to increase battery efficiency and dependability.
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BATTERY THERMAL MANAGEMENT SYSTEM COOLING PLATES MARKET SHARE:
The market for battery thermal management system cooling plates is primarily driven by the rising demand for electric cars (EVs). Customers are growing more and more interested in electric vehicles (EVs) as the automotive industry shifts to a sustainable model. This change is the result of increased environmental consciousness, stricter emissions laws, and EV technical breakthroughs that have increased the allure of EVs. As a result, in order to guarantee the best possible battery performance and lifetime, the increasing use of EVs calls for effective battery temperature management systems. These systems' crucial cooling plates assist in keeping batteries within their optimal temperature range, reducing overheating and prolonging battery life. Therefore, the need for sophisticated cooling plates is directly driven by the increasing production and sales of electric vehicles (EVs), which is driving the market's substantial expansion.
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Key Companies:
- Valeo
- HELLA
- MAHLE
- Nippon Light Metal
- Modine Manufacturing
- ESTRA Automotive
- Mersen
- Bespoke Composite Panel
- Senior Flexonics
- Priatherm
- Dana
- Kaweller
- SANHUA Automotive
- Yinlun
- Sanhua Intelligent Controls
- Songz Automobile Air Conditioning
- Nabaichuan Holding
- Cotran New Material
- Zhejiang Lurun Group
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