Electric Vehicle Thermal Management Market Heating, Ventilation And Air Conditioning, COVID-19 Market Scenario, and Industry Forecast By 2030

Published March 22, 2023

Thermal management is used in vehicles to observe and regulate the temperature of batteries, passenger cabin area, and HVAC components, among others. The key purposes of the automotive thermal management system are heat transfer, reduction in thermal loads, and waste heat recovery. Thermal management systems can improve passenger comfort, power system performance and enhance the travel experience. In electric vehicles, thermal management systems are used to increase the efficiency range of the vehicle. China, Germany, South Korea, the United States, Japan and other countries continue to improve the electric vehicle infrastructure, global electric vehicle production and growing demand for thermal cooling solution in the vehicles, stringent emission and fuel efficiency regulations, and the growing demand for energy-efficient battery-powered devices are driving the market.

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Top Impacting Factors

  • Growing demand for energy-efficient battery-powered devicesgrowing adoption of power modules including intelligent power module (IPM)and integration of automotive battery thermal management system with other electric thermal management systems are driving the growth of the electric vehicle thermal management market.
  • Strict government norms on the use of refrigerants in vehicles, and the high cost of thermal management system technology is expected to hamper the growth of the electric vehicle thermal management market.
  • Government support, and increasing FDI can be seen as an opportunity for the electric vehicle thermal management market investments.

Integration of automotive battery thermal management system with other electric thermal management

Due to the government’s strict carbon dioxide emission standards, the demand for electric vehicles and alternative fuel vehicles has increased. These initiatives by governments of various countries are also encouraging automakers to move towards the new trend of electric vehicles. Traditionally, automakers and suppliers use battery thermal management systems to manage battery temperature, but technological advances and reduced vehicle weight demand compelled the OEMs and suppliers to integrate the battery thermal management system with other electric thermal management systems of the vehicle. This approach or module has enabled the developers and OEMs to achieve the utmost efficiency at a low cost. The thermal management system manufacturers and developers now have started integrating the electronic components in the same module of thermal management, such as integrating power electronics components into the same module such as Belt Starter Generator (BSG), electric drive (motor, generator, inverter), and inverter-converter modules. The integration of this technology with shared thermal management system for batteries and other applications enables developers and original equipment manufacturers to increase efficiency and reduce vehicle weight at low cost.

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Key benefits of the report:

  • This study presents the analytical depiction of the electric vehicle thermal management industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the electric vehicle thermal management market.
  • The current market is quantitatively analyzed to highlight the electric vehicle thermal management market growth scenario.
  • The report provides a detailed electric vehicle thermal management market analysis based on competitive intensity and how the competition will take shape in coming years.

By System

Air Conditioning (HVAC)
Powertrain Cooling
Fluid Transport

By Technology

Active Transmission Warmup
Exhaust Gas Recirculation (EGR)
Reduced HVAC System Loading

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