Electric Vehicle Thermal Management System Market Trends Forecast 2028

PARIS - July 7, 2022 - PRLog -- The Electric Vehicle Thermal Management System (EVTMS) market size is projected to reach a CAGR of 9.8% from 2022 to 2028.

Electric Vehicle Thermal Management System (EVTMS) refers to the thermal management which are used in electric vehicles (EVs) in order to maintain the heating temperature of the batteries used in these automobiles. Since batteries are used to provide power to the motors for the movement of the vehicle and therefore, the vehicle movement is entirely dependent on battery health. Hence, the need to control the battery heat becomes essential for the proper operation of electric vehicle.

Improvised infrastructure of the various regions along with the advancement in technology are some of the factors that have supported long-term expansion for Electric Vehicle Thermal Management System (EVTMS) Market.

COVID-19 had a positive effect on the market, as people got more concerned about the issue of global warming.

APAC is the most rapidly growing market and offers a huge opportunity for the industry, whose growth is driven by the increased investment and raised manufacturing of electric vehicle in the region.

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Electric Vehicle Thermal Management System (EVTMS) Market is segmented into Battery Capacity, Vehicle Type, Battery Type, Propulsion, Technology and region.

On the basis of Battery Type

• Conventional
• Solid-State          

On the basis of Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

On the basis of Battery Capacity

• <100 kWh
• 100-200 kWh
• 200-500 kWh
• >500 kWh

On the basis of Propulsion

• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Fuel Cell Vehicle (FCV)

On the basis of Technology

• Active
• Passive

On the basis of Region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa

Key Players

• Dana Inc.
• DOBER
• Infineon Technologies AG
• MAHLE GmbH
• Renesas Electronics Corp.
• Robert Bosch GmbH
• Texas Instruments Inc.
• Valeo SA

Recent Developments

• In March 2018, Continental inaugurated a production plant in Germany leading to its expansion in market out of china.