The global electric vehicle battery thermal management system market was valued at more than USD 1 billion in 2016 and is expected to surpass USD 6 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global electric vehicle battery thermal management system market, under its automotive electronics portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Bosch, Gentherm, LG Chem, and Valeo.
According to Neelam Barua, a lead analyst for automotive electronics research at Technavio, “The vendors in the market are introducing a new cooling method to resolve the issue of quick heating during the charging process. The method introduced in the market is called direct expansion. This method allows simple and faster heat transfer by resolving the problem of overheating during the charging process.”
DX design includes cooling plates between the battery cells to give a parallel flow, and these plates or fins are thermally connected to a base plate on which the battery is placed. The base plate already is equipped with the refrigeration tubes, mostly sharing with the AC of the vehicle and this initiates the quick cooling process in these systems. Companies like BMW and Chevrolet are adopting this method, in turn, resulting in the growth of the market.
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Ease of diagnosis through CAN bus interface
The integration of high-speed Controller Area Network (CAN) in automotive systems will reduce the complexity of a hard-wired architecture and boost the demand in the BTMS market. This system 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. This method of inspection is very useful for braking systems, engine control modules, and emissions systems in various vehicles.
High-density, high-power, small-sized Li-ion batteries
The vendors are inventing Li-ion battery designs that have a high-power density, and this will help them introduce cheaper EV models in the market. These innovative battery packs can provide the power needed for speeding up and recharging through regenerative braking without depleting. The development of battery packs that are designed for high-power, high-density with optimized cell chemistries will lead to the growth of the market during the forecast period.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Electric Vehicle Battery Thermal Management System Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Cylinder Head Market 2016-2020
- Global CFD Market 2016-2020
- Global Battery Monitoring Solutions Market 2016-2020
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