Global Battery Thermal Management System Market for Mobility and Consumer Electronics Market 2021
The battery thermal management system market for mobility and consumer electronics was valued at $4,463 million in 2021 and is projected to grow at a CAGR of 23.07% to reach $31,130 million by 2031. The growth in the automotive battery thermal management system market is primarily driven by the global increase in demand for electric vehicles. However, the industry faces challenges due to rising design complexities, leading to higher prices.
A battery thermal management system is responsible for managing heat dissipation during the electrochemical processes in cells, ensuring efficient and safe battery usage. Its main objective is to prevent accelerated battery deterioration by regulating the heat generated by its components and maintaining an optimal operating temperature. The focus on safety measures presents significant growth opportunities for the battery thermal management system market in the mobility and consumer electronics sectors. Additionally, the growing sales of electric vehicles contribute to the demand for battery thermal management systems. According to the International Energy Association (IEA), sales of battery-electric vehicles and plug-in hybrid vehicles nearly doubled from 2020 to 2021, reaching 6.6 million units. Despite global supply chain constraints, approximately two million electric vehicles were sold in Q1 of 2022. This rising demand necessitates the use of battery thermal management systems to maintain energy storage capacity, extend cell lifespan, ensure system safety, and maximize driving range.
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USD 4.5 billion in 2020
Application, Type, Technology, Battery Type, Region
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The battery thermal management system market for mobility and consumer electronics is still in the development phase. The increasing demand for lithium-ion batteries in electronic devices, electric vehicles, and other consumer electronics will further boost this market. However, the lack of standardized processes for consumer electronics battery thermal management systems hinders market growth.
The COVID-19 pandemic had a severe impact on the battery thermal management system market for mobility and consumer electronics. Temporary manufacturing unit shutdowns worldwide resulted in decreased production volumes. However, as markets reopened and original equipment manufacturers (OEMs) resumed operations, the market is expected to regain momentum.
The market is segmented based on various factors, including application, type, technology, battery type, and region.
Segmentation by Application
Mobility – Passenger Vehicles and Commercial Vehicles
Consumer Electronics – Mobile Phones, Laptops and Tablets, Wearables, and Others
Segmentation by Type
Segmentation by Technology
Air Cooling and Heating
Liquid Cooling and Heating
Refrigerant Cooling and Heating
Segmentation by Battery Type
Segmentation by Region
North America – U.S., Canada, and Mexico
Europe – Germany, France, Italy, Spain, and Rest-of-Europe
Asia-Pacific and Japan – Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific and Japan
Rest-of-the-World – Middle East and Africa and South America
In 2021, the battery thermal management system market for mobility and consumer electronics was influenced by various factors. The mobility segment emerged as the dominant application segment, fueled by the increasing global sales of electric vehicles. Battery thermal management systems play a crucial role in maintaining the batteries’ temperature within the optimal range, ensuring their safety by reducing excessive heat and facilitating heat dissipation into the environment.
The active segment took the lead among the types of battery thermal management systems for mobility and consumer electronics in 2021. This was driven by the growing demand from industries such as automotive and consumer electronics, where battery efficiency for temperature control is of utmost importance. The market witnessed a rise in the adoption of the active battery thermal management system, particularly with the increased immersion of cells, attracting the interest of industrialists.
Regarding technology, the liquid cooling and heating segment held the largest market share in 2021. This technology employs pumped liquid to dissipate the thermal energy generated within the battery pack. Its superior thermal enforcement capabilities make it a preferable choice compared to other technologies, catering to both rectangular prismatic and pouch cells.
In terms of battery type, the conventional batteries segment dominated the market in 2021. Conventional batteries, such as lead-acid-based, nickel-based, and lithium-ion batteries, are widely used in electric vehicles due to their accessibility and cost-effectiveness. The rising demand for lithium-ion batteries, in particular, has significantly contributed to the dominance of the conventional batteries segment, and this trend is expected to continue during the forecast period from 2022 to 2031.
China emerged as the dominant region in the battery thermal management system market for mobility and consumer electronics. The presence of a thriving electric vehicle industry, leading players across the supply chain, and a rapidly growing economy have propelled China’s dominance. Additionally, China holds a significant portion of the world’s lithium-ion reserves, providing ample opportunities for its utilization in various industries, including automotive and consumer electronics. The emergence of countries like Australia and Singapore as major maintenance, repair, and operations (MRO) destinations, along with the potential for substantial automotive aftermarkets, is expected to further contribute to the region’s growth during the forecast period.
The selection of the profiled companies was based on inputs obtained from primary experts, as well as an analysis of their company coverage, product portfolio, and market penetration.
Key companies profiled in this report include 3M, Robert Bosch GmbH, Valeo, Mahle GmbH, SAMSUNG SDI CO., LTD., BorgWarner Inc., VOSS Automotive GmbH, Denso Corporation, Hanon Systems, Grayson Thermal Systems, Polymer Science, Inc., LG Chem., Gentherm Incorporated, Continental AG, Calogy Solutions, Carrar, Amionx.
Recent Industry Developments
Hanon Systems, a renowned company in the field of thermal management, demonstrated its commitment to growth and innovation in March 2022 through the establishment of a new facility in Hubei, China. This state-of-the-art plant is specifically dedicated to the development of cutting-edge heating, ventilation, and air conditioning (HVAC) modules for electric vehicles.
In February 2021, Mahle GmbH, a prominent player in the industry, made a strategic acquisition by taking over Keihin Corporation’s thermal management business in key locations across Thailand, Japan, and the United States. This move not only expanded Mahle’s global presence but also strengthened its position in the competitive thermal management market.
Key Questions Answered
What are the primary factors and trends that are influencing the battery thermal management system market for mobility and consumer electronics?
How has the COVID-19 pandemic affected the global battery thermal management system market for mobility and consumer electronics?
What measures have existing players taken to enhance their market position, and what strategies have new entrants in the market adopted?
Which type, battery type, technology, and application are leading in the market, and how do they project performance during the forecast period?
What are the recent developments in various countries worldwide concerning the advancement of the battery thermal management system market for mobility and consumer electronics?
What are the major challenges associated with the adoption of battery thermal management systems in different regions and countries?
Are there any governmental regulations at the regional or global level that impact the market?