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Battery Thermal Management System Market worth $8.5 Billion by 2030 | MarketsandMarkets

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CHICAGO, May 27, 2024 /PRNewswire/ — Battery Thermal Management System market size is projected to grow from USD 3.7 Billion in 2024 to USD 8.5 Billion by 2030, at a CAGR of 14.7%, according to a new report by MarketsandMarkets. The increasing demand for electric vehicle and battery safety is expected to increase the demand for BTMS. Additionally, continuous innovation in BTMS components will boost the demand for BTMS.

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Battery Thermal Management System Market Scope:

Report Coverage

Details

Market Revenue in 2024

USD 3.7 Billion

Estimated Value by 2030

USD 8.5 Billion

Growth Rate

Poised to grow at a CAGR of 14.7%

Market Size Available for

2019–2030

Forecast Period

2024-2030

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Propulsion (BEV, PHEV, FCEV), Offering (BTMS With Battery, BTMS Without Battery), Technology (Active, Passive, Hybrid), Battery Type, Battery Capacity, Vehicle Type and Region

Geographies Covered

Asia Pacific, Europe, North America, and Rest Of The World

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Growing potential of modular design

Key Market Drivers

Innovation in EV battery system

BEV segment is expected to have largest share in the global BTMS market

The BEV segment is expected to grow the largest in terms of value. The region accounts for the largest BEV market, with countries such as China, Japan, and South Korea leading BEV sales. Strong government support and favorable policies are the major factors for the fast growth of BEVs in the region, along with the fast popularization of the BTMS market. The cost of the BEV of local players in this region is low compared to that in other regions, leading to a high demand for various low-cost BTMS in this market. For instance, in January 2024, XING Mobility (China), a company known for its innovative approach to EV technology, has recently introduced its latest advancement in battery technology with the debut of the Next-Gen Immersion Cooling Battery. These advancements will further drive the BTMS market in the BEV segment.

<100 KWH battery capacity segment is estimated to exhibit the largest growth in global BTMS market

<100 KWH battery capacity segment is expected to have significant growth opportunities in the BTMS market during the forecast period. This battery capacity range offers a balance between range and practicality. It satisfies the needs of consumers who desire an EV capable of longer distances without the added cost or weight of extremely high-capacity batteries. The infrastructure development supports the adoption of EVs with larger battery capacities and proper thermal management as consumers feel more confident about long-distance travel and quick charging options. With the improving range, the sales of vans falling under the segment are estimated to rise, which will boost the EV battery market in the <100 kWh segment. For instance, the 2024 Audi e-tron GT is a sedan with a 93-kWh battery pack that provides a range of around 300 miles (483 kilometers; it uses liquid-cooled systems for its batteries to provide optimum performance. Thus, the launch of EVs with a battery capacity of <100 kWh will drive the segment.

US to lead the BTMS market in North America

The US is predicted to lead the North American BTMS market. The US is a leading market in the automotive industry, renowned for its innovation, technology adoption, and vast network of manufacturers, suppliers, and consumers. With a diverse landscape ranging from the cold winters of Alaska to the scorching summers of Arizona, the demand for effective BTMS is paramount. As EV adoption continues to rise, driven by environmental concerns and government incentives, the importance of efficient thermal management solutions becomes even more pronounced. The climate across the US varies significantly from region to region, presenting unique challenges for automotive thermal management systems. In northern states such as Minnesota and Maine, frigid temperatures during winter months can severely impact battery performance and longevity. Conversely, in southern states such as Texas and Florida, extreme heat poses similar challenges, accelerating battery degradation and reducing overall efficiency. The growing demand for EVs in the US presents a significant opportunity for companies specializing in BTMS.

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Battery Thermal Management System Market Dynamics:

Drivers:

Innovation in EV battery system

Restraints:

Complexities associated with design components.

Opportunities:

Growing potential of modular design

Challenge:

Irregular operation of BTMS in extreme temperature

Key Market Players of Battery Thermal Management System Industry:

Prominent players in the Battery Thermal Management System Market include Robert Bosch (Germany), Gentherm (US), Continental AG (Germany), Denso (Japan), BorgWarner Inc. (US), Webasto Group (Germany), among others.

The break-down of primary participants is as mentioned below:

By Company Type: OEMs – 24%, Tier 1 –67% and Tier 2 & 3 – 9%,By Designation: CXO – 33%, Managers – 52%, and Executives – 15%By Region: North America – 26%, Europe – 30%, Asia Pacific – 35%, and ROW­­-9%

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Automotive Battery Thermal Management System Industry Recent Developments:

In February 2024, Denso Corporation’s collaboration with Betterfrost and the Ontario Vehicle Innovation Network represents a significant advancement in addressing the range limitations of EVs in extreme heat and cold.In February 2024, The acquisition between Modine and Scott Springfield Manufacturing  to diversify its product offerings by incorporating air-handling units into its portfolio.In February 2024, The partnership between GM and LG Chem underscores a commitment to advancing state-of-the-art battery technology. By prioritizing thermal management solutions, they aim to address key challenges such as battery degradation, overheating, and safety concerns.

Automotive Battery Thermal Management System Market Size – Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall BTMS market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on:

Analysis of key drivers (Rising adoption of Electric Vehicles, Innovation in EV battery system, and Stringent regulatory and safety standards), restraints (Complexities associated  design components and Inadequate infrastructure for EV charging in emerging market), opportunities (Growing potential of modular design, Increasing R&D investment for advance battery thermal solution, implementation of BTMS for optimal battery performance, and innovation within e-compressor by key OEMS), and challenges (Safety concerns associated with battery reliability and irregular operation of BTMS in extreme conditions) influencing the growth of the BTMS market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the BTMS market.Market Development: Comprehensive information about lucrative markets – the report analyses the BTMS market across varied regions.Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the BTMS market.Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Robert Bosch (Germany), Gentherm (US), Continental AG (Germany), Denso (Japan), BorgWarner Inc. (US), Webasto Group (Germany) among others in the BTMS market.Strategies: The report also helps stakeholders understand the pulse of the BTMS market and provides them information on key market drivers, restraints, challenges, and opportunities

Related Reports:

Wireless Charging Market for Electric Vehicles – Global Forecast to 2030

Electric Vehicle Market – Global Forecast 2030

Automotive Terminal Market – Global Forecast to 2025

EV Battery Market – Global Forecast to 2033

Get access to the latest updates on Battery Thermal Management System Companies and Battery Thermal Management System Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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PR Newswire AEO & GEO Brand Report Now Available in Canada

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Canada’s largest, most trusted press release distribution service builds on its legacy in the country by offering brand-level AI visibility intelligence to government, investor relations and corporate communications teams.

TORONTO, Oct. 19, 2026 /PRNewswire/ — AI-powered search and generative answer engines are rapidly reshaping how audiences discover and evaluate brands. As a result, communicators are increasingly seeking data-driven insights into their organization’s presence within this evolving landscape. Today, PR Newswire announces that its AEO & GEO Brand Report is now available to customers in Canada to help them take their brand’s AI visibility to the next level.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/pr_newswire/9424851-en-pr-newswire-launches-aeo-geo-report-ai-brand-visibility-in-canada 

The report, available in the PR Newswire Amplify™ platform, provides measurable insights into how AI models reference and position brands, helping customers across Canada understand their AI footprint and actively shape it through the world’s most trusted distribution network and powerful Multichannel Amplification™ solutions.

Strategic AI Search Insights for Communications Professionals

Powered by Trajaan, a Cision company, the report captures three distinct categories of data to provide a brand-level view of AI visibility:

Mentions: Measure your brand’s presence in AI-generated answers with a breakdown of share of voice, total mentions, ranking position and trend tracking over time.

Sources: Identify the webpages and domains that are being referenced in AI responses about your brand to better understand the sources shaping the narrative.

Answers: See real responses showing exactly how large language models (LLMs) are answering questions about your organization.

“The rapidly-evolving AI search landscape is changing how communicators are thinking about visibility. We’re proud to build on decades of experience working with Canadian PR, marketing and investor relations teams by extending the availability of the AEO & GEO Brand Report. These powerful brand-level insights will help our customers in the country effectively navigate this new era,” said PR Newswire President Matt Brown. “Combining the report insights with our trusted, Multichannel Amplification™ tools offers communications teams an industry-leading solution for reaching global audiences where they are and increasing visibility for their most important stories.”

Turning AI Insights into Smarter Content Strategy

Launching the new report natively within Amplify, the award-winning platform that recently celebrated its one-year anniversary, allows Canadian communications, marketing and IR professionals to move instantly from identifying an AI visibility gap to closing it via targeted multichannel content and distribution.

By leveraging PR Newswire’s purpose-built platform alongside Trajaan’s proprietary search intelligence data, PR and marketing teams can turn market insights and online search signals into actionable next steps. The report helps teams strengthen content planning and strategy, and optimize messaging for answer engines and generative engines across multiple content types. Then, through PR Newswire’s multichannel distribution solutions, communicators can reinforce their brand’s credibility signals with the world’s largest, most credible distribution network.

The wider availability of the report is the latest example of how PR Newswire is constantly innovating to help communicators around the world stay ahead of the curve in a fast-moving AI search landscape and reach target audiences wherever they are with on-brand content that resonates.

To learn more about the new capability and other features available in the Amplify Report module, visit https://www.newswire.ca/amplify-report-module/.

About PR Newswire

PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 500,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our innovative AI-powered PR Newswire Amplify™ platform, award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive Multichannel Amplification™ catalogue of solutions to solve the modern-day challenges PR and communications teams face. For more than 70 years, PR Newswire has been the preferred destination worldwide for brands to share their most important news stories.

About Cision

Cision is the global leader in consumer and media intelligence, engagement, and communication solutions. We equip PR and corporate communications, marketing, and social media professionals with the tools they need to excel in today’s data-driven world. Our deep expertise, exclusive data partnerships, and award-winning products, including CisionOne, Brandwatch, PR Newswire, and Trajaan, enable over 75,000 companies and organisations, including 84% of the Fortune 500, to see and be seen, understand and be understood by the audiences that matter most to them.

 

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Swift Current Energy Appoints Scott Koziar as Chief Development Officer

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Industry veteran brings more than two decades of power sector experience as Swift Current scales development to meet rising U.S. electricity demand

HOUSTON and BOSTON, Oct. 19, 2026 /PRNewswire/ — Swift Current Energy (Swift Current) today announced that Scott Koziar has joined the company as Chief Development Officer and a member of its executive management team. Koziar will lead Swift Current’s development organization and advance its portfolio of utility-scale solar, wind and energy storage projects as data centers, advanced manufacturing and other large loads drive the need for new power generation across the United States.

Koziar brings more than 20 years of experience in the power sector, most recently serving as Chief Development Officer at Apex Clean Energy, where he oversaw a 63 GW pipeline of utility-scale wind, solar and battery storage projects. During his tenure, Apex commercialized 12 GW of projects now in construction or operation.

“Development is at the heart of what we do at Swift Current, and Scott is a proven leader who knows how to build teams and move complex projects from concept to operation,” said Michael Arndt, Chief Executive Officer of Swift Current Energy. “That experience is especially valuable today. The power market is changing quickly, demand is accelerating, and customers need solutions at a scale we haven’t seen in decades. Scott’s leadership will help us move faster and capitalize on the opportunities we see across our portfolio.”

“I’m thrilled to be joining Swift Current and grateful for the opportunity to work alongside such an experienced team,” said Koziar. “What attracted me to the company was its relationship driven culture and its track record of taking on ambitious, complex projects. With electricity demand reshaping the opportunity for new energy development across the country, I’m excited to build on that track record and help move the next generation of projects forward.”

Rick Miller, who has served as Interim Chief Development Officer since August, will continue with Swift Current as Senior Vice President of Development and work closely with Koziar to advance the company’s development portfolio.

For Koziar’s full biography and more information about Swift Current’s leadership team, visit the company’s Team page.

About Swift Current Energy

Swift Current Energy is trailblazing a path for clean energy now. Founded in 2016, the company develops, commercializes, owns, and operates highly competitive, utility-scale solar, wind, and energy storage projects across North America. The company has commercialized 5 gigawatts (GW) of clean energy projects, owns and operates more than 1 GW, and has more than 10 GW in development. Swift Current Energy is majority-owned by funds managed by IFM Investors and Lookout Ridge Energy Partners.

For more information, please visit swiftcurrentenergy.com.

Media Contact

Ellie Malone
Ellie@InnovantPR.com

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2026 Belt and Road Journalists Forum opens in Nanjing, driving global media consensus

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NANJING, China, Oct. 19, 2026 /PRNewswire/ — A report from JiangsuNow.

The 2026 Belt and Road Journalists Forum convened on Oct. 17 in Nanjing, capital of Jiangsu province, highlighting the pivotal role of journalists and media leaders worldwide in furthering Belt and Road cooperation and advancing global governance.

Under the theme “Convergence and Connectivity•Innovation and Progress•Media Transformation amid Global Changes,” the event brought together nearly 100 journalists and representatives of journalists’ organizations from over 50 countries and regions for in-depth exchanges.

A series of practical mechanisms and dialogue platforms aimed at expanding international media exchanges were launched or upgraded during the forum.

At the main forum, the third batch of “International Home of Journalists” partnership certificates were presented to journalists’ organizations from 10 countries, including Chile, Cabo Verde, Mongolia, and Zambia. Meanwhile, the Global South Journalists Workshop Program was launched.

The Belt & Road Journalists’ Station in Jiangsu was also inaugurated at the Xinhua Daily Media Group in Nanjing. The Belt & Road Journalists’ Station aims to provide foreign journalists with integrated services such as news coordination, information consulting, and cultural exchange. Building on previous stations established in China’s Chongqing and Jiangxi province, the new station will further bolster the service network, offering an efficient platform for overseas media to better understand and report on China.

Prior to the main forum, participants joined the “Global South Journalists Explore China” field trips from Oct 13 to 15. International foreign media representatives visited Nanjing, Suzhou, Changzhou, Nantong, and Lianyungang to gain firsthand experience of Chinese modernization. In parallel, a series of Dialogue between Mayor/Secretary and Overseas Media activities were held across the cities, offering the global community a window into China’s development through Jiangsu while highlighting the enduring spirit of the Belt and Road Initiative.

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SOURCE JiangsuNow

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