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Battery Thermal Management System Market for Mobility and Consumer Electronics - A Global and Regional Analysis: Focus on Application, Type, Battery Type, Technology, and Region - Analysis and Forecast, 2022-2031

·7-min read
ReportLinker
ReportLinker

Battery Thermal Management System Market for Mobility and Consumer Electronics to Reach $31,130. 01 Million by 2031. Battery Thermal Management System Market for Mobility and Consumer Electronics Industry Overview.

New York, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Battery Thermal Management System Market for Mobility and Consumer Electronics - A Global and Regional Analysis: Focus on Application, Type, Battery Type, Technology, and Region - Analysis and Forecast, 2022-2031" - https://www.reportlinker.com/p06317752/?utm_source=GNW

The battery thermal management system market for mobility and consumer electronics was estimated to be at $4,462.47 million in 2021, which is expected to grow with a CAGR of 23.07% and reach $31,130.01 million by 2031. The growth in the automotive battery thermal management system market is expected to be driven by the rising demand for electric vehicles worldwide. Further, the rising design complexities leading to increased prices are the key restraining factors in the industry.

Market Lifecycle Stage

The battery thermal management system market for mobility and consumer electronics is in the developing phase.The rising demand for lithium-ion batteries in electronic devices, electric vehicles, and other consumer electronic devices is expected to boost the battery thermal management market for mobility and consumer electronics.

Further, the lack of standardization process for the consumer electronics battery thermal management system is hampering the growth of the market.

Impact

Battery thermal management systems are the devices responsible for managing heat dissipation during the electrochemical processes in the cells, allowing efficient and safe use of the battery.The major objective of the system is to prevent accelerated battery deterioration by managing the heat generated by its components for continuous operation at optimum temperature.

Increasing focus on preventing safety hazards brings significant growth opportunities for the battery thermal management system market for mobility and consumer electronics.

Impact of COVID-19

The impact of COVID-19 on the battery thermal management system market for mobility and consumer electronics was severe.Moreover, due to a temporary shutdown of the manufacturing units across different regions of the world, the volume of production declined.

However, with the opening of the markets and rising operations of the original equipment manufacturers (OEMs), the market is expected to gain momentum.

Market Segmentation:
Segmentation 1: by Application
• Mobility
o Passenger Vehicles
o Commercial Vehicles
• Consumer Electronics
o Mobile Phones
o Laptops and Tablets
o Wearables
o Others

The mobility segment dominated the battery thermal management system market for mobility and consumer electronics (by application) in 2021 and was the largest segment due to the rising sales of electric vehicles across the globe.The mobility battery thermal management systems are used for keeping the batteries in automobiles in the operative range of temperature.

The system is paramount to battery safety as it reduces the excessive heat generated by the batteries and promotes heat shedding in the environment.

Segmentation 2: by Type
• Active
• Passive
• Hybrid

The active segment dominated the battery thermal management system market for mobility and consumer electronics (by type) in 2021 and was the largest segment due to growing demand from end-use industries such as automotive and consumer electronics.The major rise is witnessed due to the higher battery efficiency for maintaining the system’s temperature.

Recently, the rise in the immersion of cells has been increasing and seeking the interests of industrialists, helping in the growth of the active battery thermal management system market for mobility and consumer electronics.

Segmentation 3: by Technology
• Air Cooling and Heating
• Liquid Cooling and Heating
• Refrigerant Cooling and Heating
• Other Technologies

The liquid cooling and heating segment held the majority share in 2021 in the battery thermal management system market for mobility and consumer electronics (by technology) as it utilizes pumped liquid for removing thermal energy generated inside the battery pack. It provides superior thermal enforcement compared to the other technologies as it is suitable for both rectangular prismatic and pouch cells.

Segmentation 4: by Battery Type
• Conventional Batteries
• Solid-State Batteries

The conventional batteries segment held the majority share in the battery thermal management system market for mobility and consumer electronics (by battery type) in 2021.The conventional batteries used in electric vehicles have a flooded electrolyte and are highly accessible at a lower cost.

Some major batteries under conventional battery segments are lead-acid-based, nickel-based batteries, lithium-ion batteries, and many others. The rising demand for lithium-ion batteries is contributing significantly toward the dominant share of the conventional batteries segment in the market and is expected to propel the growth of the segment during the forecast period 2022-2031.

Segmentation 5: by Region
• North America - U.S., Canada, and Mexico
• Europe - Germany, France, Italy, Spain, and Rest-of-Europe
• China
• U.K.
• Asia-Pacific and Japan - Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific and Japan
• Rest-of-the-World - Middle East and Africa and South America

China region dominates the battery thermal management system market for mobility and consumer electronics due to the presence of a large electric vehicle industry, leading industry players across the supply chain, and a fast-developing economy.

Recent Developments in Global Battery Thermal Management System Market for Mobility and Consumer Electronics

• In March 2022, Hanon Systems expanded its thermal management production by launching a new facility in Hubei, China. The plant would focus on developing heating, ventilation, and air conditioning (HVAC) modules for electric vehicles.
• In February 2021, Mahle GmbH acquired Keihin Corporation’s thermal management business in Thailand, Japan, and the U.S.

Demand – Drivers and Limitations

Following are the demand drivers for the battery thermal management system market for mobility and consumer electronics:
• Rising Demand for Electric Vehicles (EVs)
• Increasing Stringent Government Regulations
• Rising Demand for Consumer Electronics

The market is expected to face some limitations too due to the following challenge:
• High Design Complexities with New Systems
• Expensive Battery Thermal Management System Technology

How Can This Report Add Value to an Organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types, technologies, and battery types available for the battery thermal management system market and its potential globally. Moreover, the study gives the reader a detailed understanding of the different battery thermal management applications in mobility and consumer electronics.

Growth/Marketing Strategy: Business expansion, partnership, collaboration, and joint venture are some key strategies adopted by the key players operating in the space; for instance, in November 2021, Hanon Systems inaugurated a new manufacturing facility in Gyeongju, South Korea, which will focus on eco-friendly thermal management solutions.

Competitive Strategy: Key players in the battery thermal management system market for mobility and consumer electronics analyzed and profiled in the study involve the battery thermal management systems manufacturers.Moreover, a detailed competitive benchmarking of the players operating in the battery thermal management system market for mobility and consumer electronics has been done to help the reader understand how players stack against each other, presenting a clear market landscape.

Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of company coverage, product portfolio, and market penetration.

Some prominent names established in this market are:
• 3M
• Robert Bosch GmbH
• Valeo
• Mahle GmbH
• SAMSUNG SDI CO., LTD.
• BorgWarner Inc.
• VOSS Automotive GmbH
• Denso Corporation
• Hanon Systems
• Grayson Thermal Systems
• Polymer Science, Inc.
• LG Chem.
• Gentherm Incorporated
• Continental AG
• Calogy Solutions
• Carrar
• Amionx

Countries Covered
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• Spain
• Rest-of-Europe
• U.K.
• China
• Asia-Pacific and Japan
• Japan
• South Korea
• India
• Australia
• Rest-of-Asia-Pacific and Japan
• Rest-of-the-World
• Middle East and Africa
• South America
Read the full report: https://www.reportlinker.com/p06317752/?utm_source=GNW

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