Batteries are the power source for electric vehicles. The performance or output of batteries varies according to the surrounding temperature, such that their performance is affected by excessive temperature; therefore, maintaining an adequate temperature for the batteries is essential in order to achieve proper functioning and efficiency of the battery cells.
Hybrid electric vehicles have different levels of blending, such as different levels of fuel mixture, and based on the blending level and capacity of electric vehicles, number of cells, battery size, and type varies, accordingly. The performance and life of the battery system of electric vehicles is affected by the surrounding temperature. Thus, battery thermal management systems are generally integrated with battery cells. The battery thermal management system maintains the battery temperature, at which the battery output is optimum.
Batteries are utilized in a wide range of applications in conventional fuel-powered vehicles as well as advanced electric vehicles. Applications of batteries include micro hybrid system, regenerative braking system, and advanced driver assistance system. Increase in number of advanced technologies being incorporated into vehicles is boosting the workload on the batteries, which in turn leads to reduced efficiency, performance, and lifespan of batteries.
A battery thermal management system is an essential technology to overcome these drawbacks. Adoption of electric vehicles is increasing at an exponential rate. Government incentives and subsidies, increased awareness about global temperature rise, stringent emission norms imposed by governing bodies, international agreements for reducing pollution from the transportation industry, and increase in capabilities of electric vehicles are fueling the demand for electric vehicles across the globe, which in turn is propelling the demand for battery thermal management system.
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High density batteries and fast electric vehicle chargers lead to higher operating temperature of electric vehicle batteries, which results in significant drop of vehicle range and battery life. The battery thermal management system enhances battery life and efficiency of the vehicle and hence, its demand is increasing along with the rise in demand for electric vehicles.
Governments of several nations, such as China, Germany, the U.K., India, and France have announced a ban on the use of fuel-powered vehicles in the near future, which is anticipated to offer lucrative opportunities for the global automotive battery thermal management system market. Continuous research and development has resulted in the development of ultra-lightweight and compact electronic devices, which can be incorporated to develop significantly compact battery thermal management systems.
Battery thermal management systems are an essential part of electric vehicles only. The power source of a fuel powered vehicle is the internal combustion engine, which does not require a battery thermal management system. Therefore, factors restraining the demand for electric vehicles are restraining the automotive battery thermal management system market too.
Electric vehicles are relatively more expensive than fuel-powered vehicles and hence, electric vehicles are witnessing sluggish demand across the low GDP per capita nations. Lack of electric vehicle charging infrastructure is a key restraint of the electric vehicle market, which in turn is also hampers the automotive battery thermal management system market.
The active battery thermal management system consists of forced circulation of coolant in order to maintain uniform temperature of the batteries. The coolant can be air or liquid. The forced air circulation method is simple in construction and inexpensive and hence, it has proven to be a reliable technology of battery thermal management system. However, the system is not effective at higher battery temperatures, such as 50 to 55 degree Celsius.
The liquid-cooled battery thermal management system is capable of maintaining uniform battery temperature; however, the system is complicated and cumbersome to maintain. The active battery thermal management system segment is likely to expand at significant CAGR during the forecast period owing to its simplicity, inexpensiveness, and superior performance.
Battery thermal management system using phase change material (PCM) is an advanced battery thermal management technique in which a material such as paraffin wax, salt hydrate, or sugar alcohol are placed between two cells of battery. The material absorbs excessive heat of the battery and stores it in the form of latent heat and changes its phase from solid to liquid, generally. The phase change material is capable of storing large amount of energy that can be utilized when needed.
Phase change material-based battery thermal management system provides uniform temperature management, reduced peak battery temperature, and reduced size of the battery thermal management system. Therefore, it is witnessing popularity amongst electric vehicle manufacturers. Furthermore, PCM-based thermal management system is capable of handling battery temperature in the range of 40 to 55 degree Celsius.
Considering the battery capacities of different batteries used in electric vehicles, 12 volt batteries are widely used. These are basic form of batteries that have been used in electric vehicles since their development. However, 12 volt batteries have shorter lifespan and small power storage capacity. Moreover, these batteries take a significantly long time to recharge. 48 volt and higher capacity batteries are gaining popularity owing to their fast charging capabilities and higher power storage capacity.
Lithium-Ion batteries are capable of storing large power and require low maintenance, and hence, these batteries are utilized in a large number of electric vehicles. However, solid state batteries are gaining popularity due to their safe and stable performance and higher energy densities, as compared to conventional Li-ion batteries. Faster charging speed is another major factor that is boosting the demand for solid state batteries.
Majority of the electric vehicles available, globally, are passenger vehicles. Therefore, the passenger vehicle segment of the global automotive battery thermal management system market accounts for a major share of the market, in terms of revenue. Hybrid electric vehicles and battery electric vehicles accounted for a considerable share of the total market, in terms of revenue, in 2017.
Adoption of battery electric vehicles is increasing at a significantly higher rate and hence, the battery electric vehicle segment is expected to account for a significantly higher share of the market, in terms of revenue, as compared to the other types of electric vehicle segments, during the forecast period. Increased battery life, government support, reduced vehicle cost, and zero emission are key factors driving the demand for battery electric vehicles across the globe.
The global automotive battery thermal management system market can be segmented into five prominent regions. China and Japan account for a large number of passenger and commercial electric vehicles. Manufacturers concern toward electric vehicles, government support, shifted preference of consumers toward electric vehicles, and stringent emission norms are fueling the penetration of electric vehicles across China and Japan. India is among the emerging markets for electric vehicles.
Asia Pacific is dominating the global automotive battery thermal management system market owing to the large number of electric vehicles across China and Japan and increasing demand across India, Australia, and ASEAN nations. It is predicted to maintain its leading position in the global market during the forecast period.
Key players operating in the global automotive battery thermal management system market include Continental AG, LG Chem Ltd., Robert Bosch GmbH, Valeo, Calsonic Kansei Corporation, GENTHERM, Dana Incorporated, MAHLE GmbH, SAMSUN SDI CO. LTD., VOSS Automotive GmbH, CapTherm Systems Inc., Hanon Systems, and Grayson.