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Battery Cooling Plate Market Size, Share & Trends Analysis Report By Process (Direct Cooling, Indirect Cooling), By Application (BEV, PHEV), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 83 Pages
  • August 2023
  • Region: Global
  • Grand View Research
  • ID: 5876157
Description Jump to:
The global battery cooling plate market size is expected to reach USD 5.01 billion by 2030, growing at a CAGR of 37.4% from 2023 to 2030. The increasing demand for electric vehicles (EVs) because of the ongoing decarbonization efforts and green energy initiatives is anticipated to be the key driver for market growth during the forecast period.

Battery electric vehicles (BEV) are anticipated to drive volume demand in the market. The BEVs use a battery pack to store electrical energy to power their motors. Battery cooling plates are widely utilized as heat dissipation is extremely important for the safety and optimum performance of the vehicle. The battery cooling plates are mainly used in liquid cooling, a widely used battery thermal management system technology.

The increase in the production of EV batteries is fueling market growth. For instance, as of June 2023, GM and Samsung SDI are building a new EV battery plant worth USD 3 billion in Indiana, U. S., as a joint venture. This will be GM’s fourth battery plant in the U. S. In addition, in May 2023, Hyundai and LG Energy announced a new EV battery plant in the U. S., worth USD 4.3 billion.

Indirect cooling held the largest revenue share of the market in 2022, and it is likely to continue its dominance during the forecast period. Like traditional internal combustion engines, the liquid coolant circulates through a system of pipes embedded into a battery cooling plate. It is the most widely used commercial technology, readily utilized by EVs. There is ongoing R&D to develop more efficient cooling methods.

Asia Pacific held the largest revenue share of the market in 2022 due to the highest volumes sold. Charging infrastructure is being developed at a rapid pace. Various tax incentives are being provided to buyers to encourage purchases. For instance, in June 2023, China offered the EV industry its largest package of tax breaks of USD 72.3 billion for over four years, aiming to boost the slowing auto sales.

Battery Cooling Plate Market Report Highlights

  • Based on process indirect cooling is anticipated to register the fastest CAGR of 37.5%, in terms of revenue, from 2023 to 2030. This cooling type is widely used in electric vehicles (EVs) because of its established technology, widely available coolant liquid, and economical cost
  • Based on application, BEV is anticipated to register the fastest CAGR of 42.1% in terms of revenue, during the forecast period. BEVs are purely battery-operated vehicles with zero carbon emissions and attract tax incentives for their production and purchase
  • Based on region, Asia Pacific is expected to register the fastest CAGR of 39.2%, in terms of revenue, over the forecast period. Various government initiatives are propelling the growth. For instance, the region is part of the Electric Vehicles Initiative (EVI), a forum to accelerate the adoption of EVs worldwide
  • In September 2021, MAHLE GmbH developed a new system for cooling batteries. The immersion cooling technology helps reduce charging time for EVs; thus, batteries can be smaller, resulting in more resource-efficient and low-cost EVs

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Market Formulation & Data Visualization
1.3.3. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Battery Cooling Plate Market Variables, Trends, and Scope
3.1. Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.4. Manufacturing Process Overview
3.5. Regulatory Framework
3.6. Battery Cooling Plate Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.7. Business Environmental Analysis
3.7.1. Porter’s Analysis
3.7.2. PESTEL Analysis
Chapter 4. Battery Cooling Plate Market: Process Estimates & Trend Analysis
4.1. Definition & Scope
4.2. Battery Cooling Plate Market: Process Movement Analysis, 2022 & 2030
4.3. Direct Cooling
4.3.1. Market estimates & forecasts, by direct cooling, 2018 - 2030 (USD Million) (Kilotons)
4.4. Indirect Cooling
4.4.1. Market estimates & forecasts, by indirect cooling, 2018 - 2030 (USD Million) (Kilotons)
Chapter 5. Battery Cooling Plate Market: Application Estimates & Trend Analysis
5.1. Definition & Scope
5.2. Battery Cooling Plate Market: Application Movement Analysis, 2022 & 2030
5.3. BEV
5.3.1. Market estimates & forecasts, by BEV, 2018 - 2030 (USD Million) (Kilotons)
5.4. PHEV
5.4.1. Market estimates & forecasts, by PHEV, 2018 - 2030 (USD Million) (Kilotons)
Chapter 6. Battery Cooling Plate Market Regional Estimates & Trend
6.1. Regional Snapshot
6.2. Regional Movement Analysis & Market Share, 2022 & 2030
6.3. North America
6.3.1. North America battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.3.2. North America battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.3.3. North America battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.3.4. U.S.
6.3.4.1 U.S. battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.3.4.2 U.S. battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.3.4.3 U.S. battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.4. Europe
6.4.1. Europe battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.4.2. Europe battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.4.3. Europe battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.4.4. Germany
6.4.4.1 Germany battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.4.4.2 Germany battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.4.4.3 Germany battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.4.5. France
6.4.5.1 France battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.4.5.2 France battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.4.5.3 France battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.4.6. UK
6.4.6.1 UK battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.4.6.2 UK battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.4.6.3 UK battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.4.7. Netherlands
6.4.7.1 Netherlands battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.4.7.2 Netherlands battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.4.7.3 Netherlands battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.5. Asia Pacific
6.5.1. Asia Pacific battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.5.2. Asia Pacific battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.5.3. Asia Pacific battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.5.4. China
6.5.4.1 China battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.5.4.2 China battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.5.4.3 China battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.5.5. Japan
6.5.5.1 Japan battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.5.5.2 Japan battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.5.5.3 Japan battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.6. Central & South America
6.6.1. Central & South America battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.6.2. Central & South America battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.6.3. Central & South America battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
6.7. Middle East & Africa
6.7.1. Middle East & Africa battery cooling plate market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
6.7.2. Middle East & Africa battery cooling plate market estimates and forecasts, by process, 2018 - 2030 (USD Million) (Kilotons)
6.7.3. Middle East & Africa battery cooling plate market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
Chapter 7. Battery Cooling Plate Market: Competitive Analysis
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Supplier Portfolio Analysis
7.2.1. Sourcing Best Practises
7.3. Company Categorization
7.4. Heat Map Analysis
7.5. Vendor Landscape
7.5.1. List of raw material suppliers, distributors, and other prominent manufacturers
7.5.2. List of prospective end-users
7.6. Strategy Mapping
7.7. Company Profiles/Listings
7.7.1. Bespoke Composite Panels
7.7.1.1 Company Overview
7.7.1.2 Product Benchmarking
7.7.2. Dana Limited
7.7.2.1 Company Overview
7.7.2.2 Financial Performance
7.7.2.3 Product Benchmarking
7.7.3. Estra Automotive
7.7.3.1 Company Overview
7.7.3.2 Product Benchmarking
7.7.4. KOHSAN Co., Ltd
7.7.4.1 Company Overview
7.7.4.2 Product Benchmarking
7.7.5. MAHLE GmbH
7.7.5.1 Company Overview
7.7.5.2 Financial Performance
7.7.5.3 Product Benchmarking
7.7.6. Modine Manufacturing Company
7.7.6.1 Company Overview
7.7.6.2 Financial Performance
7.7.6.3 Product Benchmarking
7.7.7. Nippon Light Metals
7.7.7.1 Company Overview
7.7.7.2 Financial Performance
7.7.7.3 Product Benchmarking
7.7.8. Priatherm
7.7.8.1 Company Overview
7.7.8.2 Product Benchmarking
7.7.9. SANHUA Automotive
7.7.9.1 Company Overview
7.7.9.2 Product Benchmarking
7.7.10. Senior Flexonics
7.7.10.1 Company Overview
7.7.10.2 Product Benchmarking
List of Tables
Table 1 Battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 2 Battery cooling plate market estimates & forecasts, by direct cooling, 2018 - 2030 (USD Million) (Kilotons)
Table 3 Battery cooling plate market estimates & forecasts, by indirect cooling, 2018 - 2030 (USD Million) (Kilotons)
Table 4 Battery cooling plate market estimates & forecasts, by BEV, 2018 - 2030 (USD Million) (Kilotons)
Table 5 Battery cooling plate market estimates & forecasts, by PHEV, 2018 - 2030 (USD Million) (Kilotons)
Table 6 North America battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 7 North America battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 8 North America battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 9 North America battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 10 North America battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 11 U.S. battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 12 U.S. battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 13 U.S. battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 14 U.S. battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million
Table 15 U.S. battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 16 Europe battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 17 Europe battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 18 Europe battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 19 Europe battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 20 Europe battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 21 Germany battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 22 Germany battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 23 Germany battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 24 Germany battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 25 Germany battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 26 France battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 27 France battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 28 France battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 29 France battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 30 France battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 31 UK battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 32 UK battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 33 UK battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 34 UK battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 35 UK battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 36 Netherlands battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 37 Netherlands battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 38 Netherlands battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 39 Netherlands battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 40 Netherlands battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 41 Asia Pacific battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 42 Asia Pacific battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 43 Asia Pacific battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 44 Asia Pacific battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 45 Asia Pacific battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 46 China battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 47 China battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 48 China battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 49 China battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 50 China battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 51 Japan battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 52 Japan battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 53 Japan battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 54 Japan battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 55 Japan battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 56 Central & South America battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 57 Central & South America battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 58 Central & South America battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 59 Central & South America battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 60 Central & South America battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
Table 61 Middle East & Africa battery cooling plate market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 62 Middle East & Africa battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (USD Million)
Table 63 Middle East & Africa battery cooling plate market estimates & forecasts, by process, 2018 - 2030 (Kilotons)
Table 64 Middle East & Africa battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (USD Million)
Table 65 Middle East & Africa battery cooling plate market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
List of Figures
Fig. 1 Market Segmentation & scope
Fig. 2 Information procurement
Fig. 3 Data Analysis Models
Fig. 4 Market Formulation & Validation
Fig. 5 Data Validating & Publishing
Fig. 6 Market Snapshot
Fig. 7 Segmental outlook
Fig. 8 Battery cooling plate market, 2018 - 2030 (USD Million) (Kilotons)
Fig. 9 Penetration & growth prospect mapping, by application, 2021
Fig. 10 Battery cooling plate market - Value chain analysis
Fig. 11 Battery cooling plate - Market dynamics
Fig. 12 Market driver analysis
Fig. 13 Market restraint analysis
Fig. 14 Battery cooling plate market, by process: Key takeaways
Fig. 15 Battery cooling plate market, by process: Market Share, 2022 & 2030 (USD Million)
Fig. 16 Battery cooling plate market, by application: Key takeaways
Fig. 17 Battery cooling plate market, by application: Market Share, 2022 & 2030 (USD Million)
Fig. 18 Regional Snapshot, 2022 & 2030 (USD Million)

Companies Mentioned

  • Bespoke Composite Panels
  • Dana Limited
  • Estra Automotive
  • KOHSAN Co., Ltd
  • MAHLE GmbH
  • Modine Manufacturing Company
  • Nippon Light Metals
  • Priatherm
  • SANHUA Automotive
  • Senior Flexonics

Methodology

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Table Information

Report AttributeDetails
No. of Pages83
PublishedAugust 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 395 Million
Forecasted Market Value ( USD ) by 2030 $ 5010 Million
Compound Annual Growth Rate37.4%
Regions CoveredGlobal
No. of Companies Mentioned10

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