Automotive Battery Thermal Management System Market

Rising adoption of the electric vehicles, including hybrid and plug-in hybrid electric vehicles, increased load as well as dependency on batteries owing to stringent emission norms, and comfort and safety systems in the vehicles are bolstering the market.

Global automotive battery thermal management system market is likely to touch US$4252.1 Bn by 2026.

Countries worldwide inclusive of China, U.S., Italy, France, India, U.K, and Japan are enacting stringent regulations and vehicle standards in congruence with vehicle emissions. This in turn is compelling automakers for electrified powertrains - to redefine and induce the internal combustion engines with fuel saving mechanisms aided with electrical systems.

Nearly 40% market share has been retained by major players with diversified business segments.

Fairfield Market Research projects that the global automotive battery thermal management market will register a CAGR 36.2% by 2026.