Home / Press Release / Global Electric Vehicle Battery Heating Systems Market is Expected to Grow a CAGR of 16.4% during the Forecast Period

Global Electric Vehicle Battery Heating Systems Market is Expected to Grow a CAGR of 16.4% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Electric Vehicle Battery Heating Systems Market: Growth, Future Prospects, and Competitive Analysis, 2015 - 2027”. The global electric vehicle battery heating systems market generated revenue of around USD 1,743.2 million in 2020 and anticipated to grow at a CAGR of over 16.4% during the forecast period from 2021 to 2027 to reach around USD 5,046.7 million in 2027.

Browse the full report at  https://www.credenceresearch.com/report/electric-vehicle-battery-heating-systems-market 

Electric vehicle battery heating systems is direct resistance heating for electric vehicles by use of an inverter and motor. Generally, a relay is added between a positive terminal of Li-ion battery and a U-phase of a three-phase motor. When additional relay is turned on, the motor coils, IGBTs (Insulated-gate bipolar transistor) and diodes in the inverter and a smoothing capacitor for the inverter constitute buck-boost DC to DC converter. IGBTs are controlled to repeat charging and discharging between the battery and the smoothing capacitor. The increase in the adoption of electric vehicles is expected to promote product demand.

Key Trends in Global Electric Vehicle Battery Heating Systems Market

Growing Demand for Battery Heating Systems in Electric Vehicles

Increasing need for improvement of battery life and its performance has resulted in growth of the target market. The growing adoption of electric vehicles (EV), the increasing demand for battery heating systems for electric vehicles, and the rapid development of electric vehicles are expected to maintain market growth during the forecast period. Increasing government initiatives and funding to promote the use of electric vehicles owing to harmful emissions is expected to support growth of the target market. Investments by prominent players and new developments in technologies of electric vehicles has created potential opportunities for major manufacturers and suppliers of the electric vehicle battery heating systems.

Impact of COVID 19 on Electric Vehicle Battery Heating Systems Market

Driven by the global pandemic, the electric vehicle battery heating systems market will show significant growth. Due to the COVID-19 pandemic, some or all of the businesses have been closed globally or partially causing negative impact on the supply chain and product demand. According to a recent update, the industry is facing unprecedented economic losses due to the disruption of the global supply chain of the major players operating in the target market. Distributors, suppliers, and retailers all have inventory in warehouses but cannot sell them due to restrictions, while manufacturers have to stop production in response to global lockdown.

Global Electric Vehicle Battery Heating Systems Market by Technology Insights

Air cooling and heating system, liquid cooling and heating system, direct refrigerant cooling and heating system, phase change material (PCM) system, thermo-electric system and others are the technology of electric vehicle battery heating systems market. In 2020, air cooling and heating system segment accounted for the largest share of global electric vehicle battery heating systems market. Air Cooling and Heating System Segment to Dominate the Global Electric Vehicle Battery Heating Systems Market.

Global Electric Vehicle Battery Heating Systems Market by Vehicle Type Insights

Battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and fuel cell electric vehicles are the vehicle type of electric vehicle battery heating systems market. In 2020, battery electric vehicle segment accounted for the largest share of global electric vehicle battery heating systems market.

Global Electric Vehicle Battery Heating Systems Market by Sales Channel Insights

Based on sales channel, the global electric vehicle battery heating systems market is segregated into original equipment manufacturer (OEM) and aftermarket. In 2020, aftermarket segment is accounted for a significant share in 2020 of the global electric vehicle battery heating systems market. Aftermarket Segment to Dominate the Global Electric Vehicle Battery Heating Systems Market.

Global Electric Vehicle Battery Heating Systems Market by Regional Insights

The Asia Pacific market is accounted for the highest revenue share and is expected to dominate the global electric vehicle battery heating systems market over the forecast period. This is attributed to growing demand for the battery heating systems in electric vehicles and the increasing collaboration among major players for market penetration North America electric vehicle battery heating systems market is projected to register the considerable growth rate in the global market.

Global Electric Vehicle Battery Heating Systems Market Competitive Landscape

Most prominent players in the global electric vehicle Battery Heating Systems Market include Continental AG, LG Chem, Gentherm Incorporated, Marelli Corporation, Samsung SDI Co., Valeo, Robert Bosch GmbH, Hanon Systems, MAHLE GmbH, Dana Incorporated, and Others. The report covers very detailed profiles of these key players.

Market Segmentation

Global Electric Vehicle Battery Heating Systems Market by Technology, 2015 - 2027

· Air Cooling and Heating System

· Liquid Cooling and Heating System

· Direct Refrigerant Cooling and Heating System

· Phase Change Material (PCM) System

· Thermo-Electric System

· Others

Global Electric Vehicle Battery Heating Systems Market by Vehicle Type, 2015 - 2027

· Battery Electric Vehicles (BEVs)

· Plug-In Hybrid Electric Vehicles (PHEVs)

· Hybrid Electric Vehicles (HEVs)

· Fuel Cell Electric Vehicles

Global Electric Vehicle Battery Heating Systems Market by Sales Channel, 2015 - 2027

· Original Equipment Manufacturer (OEM)

· Aftermarket

Global Electric Vehicle Battery Heating Systems Market by Region, 2015 - 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

Global Electric Vehicle Battery Heating Systems Market: Key Players

· Continental AG

· LG Chem

· Gentherm Incorporated

· Marelli Corporation

· Samsung SDI Co.

· Valeo

· Robert Bosch GmbH

· Hanon Systems

· MAHLE GmbH

· Dana Incorporated

. Others

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