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Global Precious Metals for Automotive Market 2023

DESCRIPTION

TABLE OF CONTENTS

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DESCRIPTION

The battery thermal management system market for mobility and consumer electronics was valued at $5.38 billion in 2022 and is projected to reach $17.36 billion by 2029, growing at a CAGR of 17.5%. This growth is driven by increasing global demand for electric vehicles. Battery thermal management systems regulate heat dissipation to ensure efficient and safe battery usage. They are crucial for maintaining energy storage capacity, extending cell lifespan, ensuring system safety, and maximizing driving range. The market is still in development, with demand for lithium-ion batteries driving growth. However, the lack of standardized processes for consumer electronics systems hinders market expansion. The COVID-19 pandemic impacted the market, but it is expected to regain momentum as operations resume.

Market Segmentation
The market is segmented based on various factors, including type, technology, battery type, application, and region.

Segmentation by Type
Active
Passive
Hybrid

Segmentation by Technology
Air Cooling and Heating
Liquid Cooling and Heating
Refrigerant Cooling and Heating
Other Technologies

Segmentation by Battery Type
Conventional Batteries
Solid-State Batteries

Segmentation by Application
Mobility - Passenger Vehicles and Commercial Vehicles
Consumer Electronics - Mobile Phones, Laptops and Tablets, Wearables, and Others

Segmentation by Region
North America - U.S., Canada, and Mexico
Europe - Germany, France, Italy, Spain, and Rest-of-Europe
China
U.K.
Asia-Pacific and Japan - Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific and Japan
Rest-of-the-World - Middle East and Africa and South America

In 2022, the battery thermal management system market for mobility and consumer electronics was driven by several factors. The dominant application was the mobility segment, fueled by the growing global sales of electric vehicles. Battery thermal management systems are essential for maintaining optimal battery temperature, ensuring safety, and promoting heat dissipation. The active segment led the market, driven by demand from the automotive and consumer electronics industries, where temperature control is critical for battery efficiency. The adoption of active battery thermal management systems increased due to the attraction of cell immersion by industrialists. Liquid cooling and heating technology held the largest market share in 2022, utilizing pumped liquid to dissipate thermal energy within battery packs. This technology provides superior thermal enforcement capabilities for rectangular prismatic and pouch cells.

Conventional batteries, including lead-acid, nickel-based, and lithium-ion batteries, were dominant in the 2022 market. These batteries are widely used in electric vehicles due to their accessibility and cost-effectiveness. The increasing demand for lithium-ion batteries, specifically, contributed to the dominance of conventional batteries, a trend expected to continue from 2023 to 2029. China emerged as the dominant region in the battery thermal management system market, driven by its thriving electric vehicle industry, presence of key players in the supply chain, and rapid economic growth. China also has significant reserves of lithium-ion, providing ample opportunities for utilization across industries. Additionally, Australia and Singapore have emerged as major maintenance, repair, and operations destinations, along with potential growth in the automotive aftermarket, further contributing to the regions success.

Competitive Landscape
The selection of profiled companies was based on inputs from primary experts and an analysis of their company coverage, product portfolio, and market penetration. Key companies profiled in this report include 3M, Robert Bosch GmbH, Valeo, Mahle GmbH, SAMSUNG SDI CO., LTD., BorgWarner Inc., VOSS Automotive GmbH, Denso Corporation, Hanon Systems, Grayson Thermal Systems, Polymer Science, Inc., LG Chem., Gentherm Incorporated, Continental AG, Calogy Solutions, Carrar, and Amionx.

Recent Industry Developments
In February 2021, Mahle GmbH acquired Keihin Corporations thermal management business in key locations, expanding its global presence and strengthening its position in the market.

In March 2022, Hanon Systems demonstrated its commitment to growth and innovation by establishing a state-of-the-art facility in Hubei, China. This facility focuses on the development of advanced HVAC modules for electric vehicles.

TABLE OF CONTENTS

PART 1. INTRODUCTION
1.1 Description
1.2 Objectives of The Study
1.3 Market Segment
1.4 Years Considered for The Report
1.5 Currency
1.6 Key Target Audience
PART 2. RESEARCH METHODOLOGY
2.1 Primary Research
2.2 Secondary Research
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
4.1 Introduction
4.2 Drivers
4.3 Restraints
PART 5. GLOBAL PRECIOUS METALS FOR AUTOMOTIVE MARKET BY METAL TYPE
PART 6. GLOBAL PRECIOUS METALS FOR AUTOMOTIVE MARKET BY COMPONENT
PART 7. GLOBAL PRECIOUS METALS FOR AUTOMOTIVE MARKET BY END USER
PART 8. GLOBAL PRECIOUS METALS FOR AUTOMOTIVE MARKET BY REGION
PART 9. COMPANY PROFILES
Overview
Products and Services
Financial Performance
Recent Developments
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