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The electric vehicle battery thermal management system (EV BTMS) market size is forecast to increase by USD 46.88 billion at a CAGR of 47.99% between 2023 and 2028. The Electric Vehicle (EV) battery thermal management system (BTMS) market is experiencing significant growth due to the increasing demand for EVs and their expanded applications in both passenger cars and commercial vehicles. Lithium-ion batteries, the primary power source for EVs, are susceptible to overheating, leading to reduced battery life and efficiency. Advanced thermal management technologies, such as Phase Change Materials (PCMs) and Gel-type Phase Change Heat Pumps (GIHP), are being adopted to mitigate these issues. However, the high capital and maintenance costs associated with these technologies pose a challenge to market growth. The automakers are continuously investing in research and development to introduce more cost-effective and efficient solutions.
Moreover, the propulsion types, including Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs), are utilizing various battery types, such as conventional lithium-ion and emerging solid-state batteries, to reduce CO2 emissions and meet the evolving consumer demands.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Battery Type
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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