Automotive Battery Thermal Management System Market Outlook: Ensuring Optimal Performance and Efficiency for Electric Vehicles The automotive industry has witnessed a rapid increase in the adoption of electric vehicles (EVs) over the past decade. EV batteries are designed to work efficiently, but the operating performance of batteries might face some limitations, such as efficiency, lifespan, and cost. Automotive battery thermal management system (BTMS) thus plays an important role in EVs. These systems manage batteries in multiple ways, such as protecting the battery from external environmental factors and controlling the thermal nature of these batteries. Attributing to their critical function in EVs, the global automotive battery thermal management system market is pegged to witness robust demand throughout the near future. Up from the market size of US$666 Mn recorded in 2020, global sales in the automotive battery thermal management systems market will excel at an impressive CAGR of nearly 36% over the forecast period (2021 - 2026). Soaring demand for high-performance, fuel-efficient vehicles, in line with favorable government initiatives such as the California Zero Emission Vehicle Program (ZEV) aims at achieving 1.5 million ZEV cars by the year 2025, will favor the growth of the automotive battery thermal management system market.
For more information, please refer to the full report: https://www.fairfieldmarketresearch.com/report/automotive-battery-thermal-management-systemmarket Sales in Automotive Battery Thermal Management System Market Accelerate with Pro-EV Regulatory Frameworks Governments of various countries have adopted rigorous strategies to increase EV adoption. For instance, in the year 2013, the Chinese government first started to provide a subsidy ranging from RMB 4,000 to RMB 35,000 for every plug-in hybrid electric vehicle (PHEV) purchased and a grant ranging from