EV battery thermal management system market expected to grow by $ 14.84 bn during 2020-2024

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The electric vehicle battery thermal management system (EV BTMS) market is poised to grow by $ 14.84 bn during 2020-2024 progressing at a CAGR of 39% during the forecast period says the report of ResearchAndMarkets.com. The report on the electric vehicle battery thermal management system (EV BTMS) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the decreasing prices of lithium-ion battery boost adoption of electric vehicles (EVs), increasing demand for EVs and their expanded applications, and BTMS integrated with TMS of other electric drive components. In addition, decreasing prices of lithium-ion battery boost adoption of electric vehicles (EVs) is anticipated to boost the growth of the market as well.

The electric vehicle battery thermal management system (EV BTMS) market analysis include battery type segment and geographic landscapes. This study identifies the vertical integration by EV OEMS as one of the prime reasons driving the electric vehicle battery thermal management system (EV BTMS) market growth during the next few years.

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