The global Electric Vehicle Battery Heating System Market Size is projected to register at a moderate-paced CAGR of 18.7% over the forecast period. The EV battery heating system market is currently valued at US$ 3113.6 Million in 2023. By 2033, demand for EV battery heating systems is expected to reach a high of US$ 17289 Million.
An electric vehicle battery heating system is a technology used to maintain the temperature of an electric vehicle’s battery pack during cold weather conditions. This technology helps to improve the performance and range of electric vehicles in cold temperatures by ensuring that the battery is kept within the optimal temperature range.
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One of the key drivers of growth in the market is the increasing demand for electric vehicles, particularly in regions with cold climates. In cold temperatures, the performance and range of electric vehicles can be significantly reduced due to the effects of low temperatures on battery performance. Electric vehicle battery heating systems help to mitigate these effects by maintaining the battery within the optimal temperature range.
Another factor driving growth in the market is the increasing availability of advanced battery heating technologies, such as liquid heating systems and heat pump systems. These technologies are designed to be more efficient and effective than traditional resistance-based heating systems, and are expected to become more widely adopted in the coming years.
Global countries have set strict vehicle carbon emission standards. Consequently, customer preference has shifted from ICE to BEVs (BEVs). PHEVs, which run on both batteries and IC engines, are also popular globally.
The development of automobiles using unconventional energy sources is encouraged by the increased focus being placed on fuel efficiency criteria. As a result, the auto industry is shifting its focus to cars that run on electricity and other environmentally benign fuels. Global demand for an EV battery thermal management system is on the rise owing to rising commercial and consumer vehicle production and improvements in technology. Valeo, for one, has released battery cooling systems and a wide variety of coolers solutions for both plug-in hybrids and fully electric vehicles. Car cabins can be heated, cooled, and dehumidified to perfection with the help of a heat pump system that uses collected ambient energy.
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- The Chinese EV battery heating system market is expected to register a CAGR of 14.9% through the forecast period.
- The U.S. EV battery heating system market is anticipated to hold a market share of 12.5% of the global market.
- Germany is expected to follow the U.S. in leading the global market with a share of 10.2%.
- The hybrid electric vehicle segment is expected to hold a share of
Numerous local companies contribute to a modest level of fragmentation in the EV battery heating system industry. These market players are making investments, forming partnerships, acquiring other companies, and merging in order to expand their share of the market. Companies are also spending R&D to enhance battery cooling systems, which should enable batteries to run even better and longer. Keeping their prices reasonable is another one of their primary objectives.
Key players in the EV battery heating system market include
Modine Manufacturing Company, continental ag, gentherm, Dana Limited, Hanon Systems, Valeo, MAHLE GmbH, Robert Bosch GmbH, Grayson, VOSS Automotive GmbH
Some Key Recent Developments in the EV Battery Heating System Industry are:
- NIO’s first battery swap station in Germany, located in Zusmarshausen along the A8 highway between Munich and Stuttgart, was officially opened in September 2022. The battery swap station has a maximum daily capacity of 312 power swaps. Before any exchange, we’ll check the condition of the vehicle’s electric control system, motor, and battery.
- Singapore-based Oyika Pte Ltd (“Oyika”) and Asia’s leading green independent power producer and investor, NEFIN Group (“NEFIN”), signed a Memorandum of Understanding (MOU) in September 2022 to encourage the widespread use of electric vehicles (“EVs”) throughout Singapore, Cambodia, Malaysia, Thailand, and Indonesia.
- The Indonesian Ministry of Investment and Investment Coordinating Board (BKPM), PT inked an MOU with Hon Hai Technology Group (Foxconn) in January 2022. (MoU). Sustainable energy ecosystem development in Indonesia is a joint effort by PT. IBC (Industri Baterai IndonesiaIndika Energy Corporation, Indika) and Gogoro Taiwan Limited. Battery technology, electric transportation, and associated businesses is likely to be the ecosystem’s primary areas of interest.
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Key Segments in the EV Battery Heating System Market
- Liquid Cooling and Heating
- Air Cooling and Heating
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug in Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
- Passenger Vehicles
- Commercial Vehicles
- North America
- Latin America
- Asia Pacific
- MEA (Middle East and Africa)
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