Industry Analysis

The Electric Vehicle Revolution Set to Create an Annual $8.50 Billion Revenue Opportunity for Refrigeration Component Manufacturers Globally by 2025

According to a premium market intelligence report, titled “Refrigeration Component Market for Electric Vehicle – A Global and Regional Analysis: 2020-2025”, the global refrigeration components market for electric vehicles is expected to create an annual revenue opportunity of $8.50 billion by 2025.

Refrigeration Components Market for Battery Thermal Management System (BTMS) and Charging System for Electric Vehicles – A Global and Regional Analysis: Focus on Applications (Battery Thermal Management System and Charging System), Component Types (Expansion Valve, Controller, Compressor, Filter Drier, Evaporator, Condenser, and Others), Propulsion Type (BEVs, HEVs, and PHEVs), and Region – Analysis and Forecast, 2020-2025

The refrigeration components in an electric vehicle helps the system to provide the functionality of cooling the EV battery through the battery thermal management system. To reduce charging time in high power charging systems, the charging power needs to go up. As a result of this, the heat will rise significantly. To efficiently dissipate the heat and enable fast charging, controlled thermal management with cooling is required.

According to Ajeya Saxena, Lead Analyst, “Production and sales of BTMS in electric vehicles are anticipated to be higher than that of HPCS for electric vehicles, as the number of electric vehicles is higher than the charging systems and more components would be in demand for the manufacturing of the cooling system of EVs. The BTMS segment is expected to lead the market as the sale of electric vehicles is anticipated to increase globally.”

Who stands to gain from this report?

• EV battery system manufacturers
• EV refrigeration components manufacturers
• EV charging system manufacturers
• Automotive tier-1 suppliers who manufacture/optimize different auto parts to improve the efficiency and performance of the vehicles

What can they find in this report?

• Key trends impacting the refrigeration components market for electric vehicles, along with information on new technologies that EV refrigeration components manufacturers are adopting
• An idea of how the demand for EV refrigeration components will get shaped over the next five years (2020-2025) across different regions and countries
• Detailed insights and information of key companies operating in this market; these insights include their growth strategies, as well as how they compare against each other at a global, regional, and country-level.

What is the use of this report?

• In driving a successful growth strategy – Enable targetting those markets at an opportune time where the demand for EV refrigeration components is expected to rise
• In driving a successful product strategy – Know which products must be targeted if suppliers intend to capitalize on the EV refrigeration components revolution
• In driving a successful competitive strategy – Know who is the competition and how they have responded to the EV refrigeration components revolution

Key Questions Answered in the Report

• How is the refrigeration component market for electric vehicles evolving with new technologies and products in the global market?
• What is the competitive positioning of various market leaders catering to the demand for refrigeration component market for electric vehicles?
• Which regions and countries are leading in terms of consumption of refrigeration components for electric vehicles, and which among those are expected to witness the highest demand growth from 2020 to 2025?
• What are the key trends, drivers, restraints, and opportunities for the refrigeration component market for electric vehicles industry players?
• What are the buyer’s attributes, major challenges, and drivers of the refrigeration component market for electric vehicles in the countries?
• What are the key development strategies implemented by the key players to sustain in the competitive market?
• How does the supply chain function in the global refrigeration component market for electric vehicles?
• Which application type segment is estimated to witness the maximum demand growth in the global refrigeration component market for electric vehicles market during 2019-2025?
• Which are the key product types which may experience high demand during the forecasted period, 2020-2025?
• What are the key offerings of the prominent manufacturers in the global refrigeration component market for electric vehicles market?

This report is a compilation of research on more than 60 players in the global refrigeration components market for electric vehicles. It draws upon the insights from in-depth interviews with key opinion leaders of more than 50 leading companies, market experts, and vendors.

The report also profiles 15 suppliers and key ecosystem participants in the refrigeration components market for electric vehicles. Hanon Systems, Mahle, Robert Bosch, Valeo, Denso, and Continental are some of the leading players globally. Gentherm Incorporated, Dana Incorporated, and Avid Technology are some of the emerging companies in this field and have also been profiled in the study.

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