Global Electric Vehicle Battery Thermal Management System Market 2017-2021
About Electric Vehicle Battery Thermal Management System
The consumption of rechargeable batteries is growing globally, covering all major sectors, including consumer electronics, energy, automotive, and telecom. The efficiency of the batteries (the maximum output power with respect to size and weight) has improved due to the advances in technologies. This growth in the global rechargeable battery market has prompted companies to become knowledgeable about the thermal management of battery systems, such as solutions for overheating and cold weather conditions, to improve battery life and performance.
Technavio’s analysts forecast the global electric vehicle battery thermal management system market to grow at a CAGR of 37.77% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric vehicle battery thermal management system market for 2017-2021. To calculate the market size, the report considers the revenue generated from the total unit sales of BTMS offered in EVs currently sold in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric Vehicle Battery Thermal Management System Market 2017-2021
Technavio recognizes the following companies as the key players in the global electric vehicle battery thermal management system market: Bosch, Gentherm, LG Chem, and Valeo.
Other Prominent Vendors in the market are: AVID, CalsonicKansei, CapTherm Systems, Dana, DuPont, Hanon Systems, Tesla Motors, and VOSS Automotive.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is ease of diagnosis through CAN bus interface. Controller Area Network (CAN) bus is a message-based protocol used for diagnosis and troubleshooting of the most critical systems in the vehicle based on their configuration and can operate up to 1 Mbit/s. CAN is classified as high-speed CAN with transfer rates up to 1 Mbit/s (used for braking systems, engine control modules, and emissions systems) and low-speed/fault-tolerant CAN with transfer rates up to 125 Kbit/s (used for door module, mirror control, etc.). The increased integration of high-speed CAN in automotive systems have reduced the complexity of a hard-wired architecture.”
According to the report, one driver in market is increasing demand for EVs and their expanded applications. (H)EVs are powered mainly by batteries. The battery pack in a hybrid vehicle must tolerate heavy charge (during sudden braking) and heavy discharge (for sudden speed boost). In addition, the temperature must be kept within the tolerable range, allowing space for the dissipation of heat generated from regenerative braking, and to heat the batteries in case of cold weather conditions. Therefore, BTMS act as a crucial feature in these vehicles guaranteeing healthy battery operations.
Further, the report states that one challenge in market is high capital and maintenance cost. High capital expenditure incurred for the installation of batteries and the implementation of BMS solutions is affecting the growth of the global BTMS market. For the BTMS to work efficiently, each cell in the battery pack must be monitored through a BMS, thus requiring complete integration. Reliability has become a major concern as power requirements are continuously increasing across the automotive segment. The failure of even a single cell can lead to the failure of the system. Therefore, the BTMS technology requires a high initial cost in its R&D, implementing into battery unit, integrating to vehicle on-board units through various sensors and software development. The high capital cost makes the technology unaffordable to small- and medium-sized vendors, thereby hindering the market growth.
Bosch, Gentherm, LG Chem, Valeo, AVID, CalsonicKansei, CapTherm Systems, Dana, DuPont, Hanon Systems, Tesla Motors, VOSS Automotive.
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