Electric Vehicle Battery Cooling Plate Market

Electric Vehicle Battery Cooling Plate Market

Growth Factors of Electric Vehicle Battery Cooling Plate Market

The electric vehicle battery cooling plate market size was valued at USD 1.43 billion in 2022, and the market is now projected to grow from USD 1.86 billion in 2023 to USD 7.26 billion by 2030, exhibiting a CAGR of 21.4% during the forecast period of 2023-2030.

The disrupted supply chains slowed the making of various EV components. Lockdown imposition has caused delay delivery of raw materials and led to production slowdown. On the contrary, some organizations and governments had adopted the stimulus packages and supported the EV sector by incentives. This has helped to amplify sales and increased demand for the cooling plates. Therefore, the COVID-19 pandemic has overall enhanced the electric vehicle battery cooling plate market growth.

The electric vehicle battery cooling plate market share globally has increased because of the expansion of the EV sector. The demand for EVs is constantly growing attributable to environmental concerns and administration provocation. These flat components are used for maintaining temperature of EV batteries and ensuring their performance, safety, and longevity. The improvement in battery machinery is impelling the market growth. They are more efficient and effective cooling plates that can handle the demands for larger and more powerful EV batteries.

The trend of advancement and acceptance of liquid cooling systems boosts market development. It entails the transmission of a coolant through channels and plates adjacent to the cells offer numerous advantages. This system is extremely efficient in dissipating heat generated through batter function and it can preserve optimal temperature intensity within the battery pack.

Comprehensive Analysis of Electric Vehicle Battery Cooling Plate Market

The electric vehicle battery cooling plate market and automotives industry is growing at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional assessment considering the dominant supply and demand forces that impact the automotives industry. These segmentations are methodically segregated by types of vehicle type, propulsion type, technology, and battery type. The vehicle types include passenger cars and commercial vehicles. The propulsion type includes BEV and HV. The technology contains liquid cooling and air cooling. The battery types involve nickel-metal hydride and lithium-ion.

The Asia Pacific region is conducive to the global electric vehicle battery cooling plate market leading to a recall of USD 0.73 billion because of the existence of major manufacturing infrastructure that are cost-efficient to generate the plates.

The top players in the market play a critical role in the automotives industry assuring industrial prospectus growth and setting market standards. These players include BorgWarner Inc. (U.S.), Dana Limited (U.S.), Ningbo Cheeven New Materials Technology Co., Ltd. (China), Sogefi Group (Italy), Modine Manufacturing Company (U.S.), Senior Flexonics (U.S.), Columbia Staver Limited (U.K.), Shenzhen Cotran New Material CO., LTD. (China), ESTRA (U.S.), Vikas Group (India), Mersen Corporate Services SAS (France), Boyd Corporation (U.S.), Zhejiang SANHUA Automotive Components (China), MAHLE GmbH (Germany), ONEGENE (U.S.), and Yinlun Co Ltd. (China), these market players provide a level-playing competitive landscape.

In March 2023, Columbia Staver Limited launched and designed an Isothermal cold plate. It can significantly reduce the delta T between individual battery cells. The inlet and outlet connectors of the plates can be user-specified and in line with or at 90° to the manifold.

Segmentation Table

Global Electric Vehicle Battery Cooling Plate Market Scope

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 21.4% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Vehicle Type

Passenger Car

Commercial Vehicle

By Propulsion Type

BEV

HV

By Technology

Liquid Cooling

Air Cooling

By Battery Type

Lithium-ion

Nickel-Metal Hydride

By Region

North America (By Vehicle Type, Propulsion Type, Technology, and Battery Type)

U.S. (By Vehicle Type and Propulsion Type)

Canada (By Vehicle Type and Propulsion Type)

Mexico (By Vehicle Type and Propulsion Type)

Europe (By Vehicle Type, Propulsion Type, Technology, and Battery Type)

U.K. (By Vehicle Type and Propulsion Type)

Germany (By Vehicle Type and Propulsion Type)

France (By Vehicle Type and Propulsion Type)

Rest of Europe (By Vehicle Type and Propulsion Type)

Asia Pacific (By Vehicle Type, Propulsion Type, Technology, and Battery Type)

China (By Vehicle Type and Propulsion Type)

India (By Vehicle Type and Propulsion Type)

Japan (By Vehicle Type and Propulsion Type)

South Korea (By Vehicle Type and Propulsion Type)

Rest of Asia Pacific (By Vehicle Type)Rest of the World (By Vehicle Type, Propulsion Type, Technology, and Battery Type)


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