March 2025
Senior Research Analyst
Reviewed By
The electric vehicle battery thermal management system market is forecast to grow from USD 7.24 billion in 2025 to USD 93.89 billion by 2034, driven by a CAGR of 32.93% from 2025 to 2034.
The electric vehicle battery thermal management system market is a crucial sector of the electric vehicle industry. This industry deals in manufacturing and distribution of thermal management system for preventing electric vehicle batteries. There are several types of systems available in the market consisting of active system and passive system. It finds application in different types of vehicles comprising of passenger vehicles and commercial vehicles. The rising demand for electric vehicles in different regions of the world has driven the market growth. This market is projected to grow exponentially with the rise of the automotive industry across the globe.
Metric | Details |
Market Size in 2024 | USD 5.45 billion |
Projected Market Size in 2034 | USD 7.24 billion |
CAGR (2025 - 2034) | 32.93% |
Leading Region | Asia Pacific |
Market Segmentation | By System, By Application and By Region |
Top Key Players | Robert Bosch GmbH, GENTHERM, Valeo, Dana Limited, MAHLE GmbH, Hanon Systems |
Key Market Drivers |
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In December 2024, Matt Kern, the Senior Director of Global Sales at Prestone made an announcement stating that, “Corrosion poses a significant threat to the longevity and reliability of automotive components, especially in the highly sensitive, intricate systems found in electrified vehicles, Prestone’s thermal management fluids serve as an ally in combating corrosion and forming a protective barrier that shields these systems from the harmful effects of corrosion.”
Asia Pacific held the largest share of the electric vehicle thermal management system market. The rise in number of government initiatives aimed at strengthening the EV industry in countries such as China, India, Japan and some others has boosted the market growth. Also, the growing emphasis on reducing CO2 emission in the environment along with rapid investment in EV battery sector has played a positive role in shaping the industrial landscape. Moreover, the presence of several EV companies such as Tata, Hyundai, BYD and some others is expected to boost the growth of the electric vehicle thermal management system market in this region.
The electric vehicle battery thermal management system market is a fragmented industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Robert Bosch GmbH, GENTHERM, Valeo, Dana Limited, MAHLE GmbH, Hanon Systems, VOSS Automotive, Inc and some others. These companies are constantly engaged in developing thermal management systems for EV batteries and adopting numerous strategies to maintain their dominance in this industry.
By System
By Application
By Region
March 2025
March 2025
March 2025
March 2025
Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.
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