Connect with us

Technology

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

Published

on

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.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184479896

Browse in-depth TOC on “Battery Thermal Management System Market”

100 – Tables
100 – Figures
400 – Pages

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.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=184479896 

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%

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=184479896 

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.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Roa
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/battery-thermal-management-system-market-worth-8-5-billion-by-2030–marketsandmarkets-302155894.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Accord Specialty Pharmacy Named Finalist in MMIT’s 11th Annual Retail Specialty Pharmacy Patient Choice Awards

Published

on

By

ORLANDO, Fla., April 23, 2026 /PRNewswire/ — Accord Specialty Pharmacy, an independent specialty pharmacy serving patients across multiple states, has been named a finalist in the MMIT Patient Choice Awards, a recognition based on patient-reported satisfaction and experience.

Accord was selected as the only independent pharmacy among finalists in its category, alongside national pharmacy organizations such as Walgreens Specialty Pharmacy and Walmart Specialty Pharmacy. This distinction highlights the company’s commitment to delivering personalized, high-touch care for patients managing complex and chronic conditions.

The MMIT Patient Choice Awards recognize specialty pharmacies that demonstrate excellence in patient satisfaction, service quality, and overall care experience. Finalists are determined based on direct patient feedback, making the recognition a meaningful reflection of the trust patients place in their pharmacy providers.

“Being recognized alongside national organizations and as the only independent finalist validates our belief that personalized, patient-centered care drives better outcomes. We are building a model that combines clinical depth, national reach, and operational flexibility to better serve patients, providers, and partners.” said AJ Patel, Founder and Pharmacy Manager of Accord Specialty Pharmacy.

Accord Specialty Pharmacy supports patients across complex specialty categories, including oncology, rare disease, and infusion, through a clinically driven, high-touch care model designed to improve access, adherence, and outcomes. The company’s approach emphasizes personalized support, responsive care coordination, and strong clinical engagement to help patients navigate complex therapies more effectively. With a growing national footprint and multi-state licensure, Accord is positioned to support patients, providers, and partners across diverse markets.

For more information, visit MMIT Announces Finalists of the 11th Specialty Pharmacy Patient Choice Awards – MMITNetwork.

About Accord Specialty Pharmacy:

Accord Specialty Pharmacy is an ACHC-accredited, multi-state licensed independent specialty pharmacy located in Central Florida, dedicated to delivering high-quality, patient-centered care for individuals managing complex and chronic conditions. Through personalized support, clinical expertise, and a high-touch approach, Accord helps patients navigate every step of their treatment journey. Learn more at www.accordspecialty.com.

CONTACT: contact@accordspecialty.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/accord-specialty-pharmacy-named-finalist-in-mmits-11th-annual-retail-specialty-pharmacy-patient-choice-awards-302752327.html

SOURCE Accord Specialty

Continue Reading

Technology

HAIVISION ANNOUNCES VOTING RESULTS FROM 2026 ANNUAL MEETING OF SHAREHOLDERS

Published

on

By

MONTRÉAL, April 23, 2026 /CNW/ – Haivision Systems Inc. (“Haivision” or the “Company”) (TSX: HAI) is pleased to announce the voting results from its annual meeting of shareholders held today in a virtual format.

A total of approximately 45.97 % of the issued and outstanding common shares of Haivision were represented at the meeting.

Election of Directors

Each of the six nominated directors of Haivision was elected as director of the Company with the following results:

Director

Votes
For

% Votes
For

Votes
Against

% Votes
Against

Miroslav Wicha

11,110,245

99.26 %

82,583

0.74 %

Harvey Bienenstock

11,155,137

99.66 %

37,691

0.34 %

Robin M. Rush

11,121,855

99.37 %

70,973

0.63 %

Neil Hindle

10,794,005

96.44 %

398,823

3.56 %

Julie Tremblay

10,941,969

97.76 %

250,859

2.24 %

Lee K. Levy II

9,084,418

81.16 %

2,108,410

18.84 %

2.   Appointment of Auditors

Deloitte LLP were reappointed auditors of the Company for the ensuing year with 12,492,582 (98.84%) votes cast in favour and 146,406 (1.16%) votes withheld.

3.   Approval of the Unallocated Awards under the Company’s Equity Incentive Plan

The Company’s unallocated awards were approved with 8,710,347 (77.82%) votes cast in favour and 2,482,481 (22.18%) votes cast against.

4.   Reapproval of Company’s Shareholder Rights Plan

The Company’s shareholder rights plan was approved with 10,572,490 (94.46%) votes cast in favour and 620,338 (5.54%) votes cast against.

Final voting results on all matters voted on at the meeting will be filed under Haivision’s profile on SEDAR+ at www.sedarplus.ca.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/haivision-announces-voting-results-from-2026-annual-meeting-of-shareholders-302752318.html

SOURCE Haivision Systems Inc.

Continue Reading

Technology

Noritz upgrades EZ Pro Series of tankless water heaters with larger, multi-function panel display for faster installation and servicing

Published

on

By

Improved, fully integrated diagnostic interface eliminates the need for a separate remote controller, providing key system status data and enhanced digital controls to ease startup, operation, and maintenance for pro installers and service techs.

FOUNTAIN VALLEY, Calif., April 23, 2026 /PRNewswire/ — Noritz America, an international leader in tankless and electric heat pump water heaters and high-efficiency combination boilers, has further enhanced its EZ Series Pro line of residential condensing tankless water heaters by expanding both the size and the functionality of the units’ built-in control panel, whose user-friendly digital interface is mounted prominently on the front exterior.

Providing upgraded monitoring and diagnostic capabilities, the multi-function panel display allows professional installers to view system status, temperature settings, service reminders, maintenance data, error codes, error history, and (if applicable) recirculation timing settings. All of this vital information is built in and readily accessible on the water heater. Besides eliminating the need for a separate, external remote controller, the panel enables guided setup during installation and faster, more effective troubleshooting.

In addition, installers and users can monitor and program the unit remotely via Bluetooth® connectivity that works alongside the panel, using the EZ Start Plus app on their smartphones. A separate external remote is optional.

“The intent of our upgrade efforts was to create a more satisfying user experience for both the professional and the consumer,” says Noritz Executive Vice President and General Manager Jason Fleming. “We focused on simplified installation, advanced diagnostics, and giving professionals and their customers easier, more responsive control of the water heater.”

Essential Features of the Multi-Function Panel

Below are the main features and capabilities of the upgraded, built-in, multi-function panel and related control system:

Digital temperature control: Professional installers and service technicians will find it easier to use the enlarged panel to set the output water temperature to 100° – 140° Fahrenheit. Temperature settings are available in increments as small as 5°F.

Key benefits: More precise temperature control for professionals and, as a result, safer, more consistent hot-water delivery for end users.

Integrated Bluetooth connectivity; no more dip switches: The EZ Start Plus app enables installers and service techs to perform system setup, adjust the temperature, run diagnostics and share this information electronically with Noritz Technical Support. Installers can even register the water heater to qualify for the accompanying warranty.

Key benefits: Simplified startups mean faster installs, minimizing the manual programming that installers previously had to perform. Smartphone-based control and troubleshooting eliminate the need for old-style manual adjustment of physical dip switches.

Improved service access: Even the physical design of the EZ Series Pro has been reengineered to work more effectively with the newly enhanced multi-function panel.

Key benefits: The latched, snap-lock front cover enables quicker access to components for easier maintenance and servicing.

Industry-Best Warranty

The upgraded EZ Series Pro continues to include three models, all with a Uniform Energy Factor of 0.98, the highest efficiency rating in the tankless water heater industry:

EZ71: input range — 12,800 to 160,000 BTU/hour; flow rate — 0.4 to 9.0 gallons per minute; turndown ratio — 12.5:1EZ98: 12,800 to 180,000 BTUh; 0.4 to 9.8 gpm; 14:1;EZ111: 12,800 to 199,900 BTUh; 0.4 to 11.1 gpm; 16:1.

All three units carry a 25-year limited warranty on their stainless steel heat exchangers, the longest such protection in the industry. Further protection includes a five-year limited parts warranty and one year for reasonable labor.

The water heaters use natural gas but are field-convertible to LP with a parts kit included with every unit. Two water heaters can be linked using Noritz’s optional Quick Connect linkage to double the hot-water flow rate.

Designed for wall-mounting indoors, the EZ Series Pro heaters can be direct-vented with two-, three-, or four-inch Schedule 40 or Schedule 80 PVC or CPVC, or two-inch or three-inch polypropylene venting. They can also be installed outdoors in milder year-round climates using an optional vent cap.

All EZ Series Pro models have received approvals from CSA, NSF5, NSF372, and are Low NOx approved by the South Coast Air Quality Management District (Rule 1146.2).

For more information on the newly upgraded Noritz EZ Series Pro, visit: https://ezseries.noritz.com/

A short product video is available at: https://youtu.be/m5iDn7sOGMc

For more information on the full line of Noritz tankless water heating products, visit www.noritz.com. You can also contact us by telephone at 866.766.7489 or by email at support@noritz.com.

For editorial assistance, contact John O’Reilly or Emma Wurzer at GreenHouse Digital PR, 15255 South 94th Avenue, Suite 500 | Orland Park, IL 60462; tel.: 708.428.6385; e-mail: john@greenhousedigitalpr.com | emma@greenhousedigitalpr.com.

Hi-res versions of photographs to accompany this press release are available for immediate download by using this link: https://noritz.greenhousedigitalpr.com/ez-series-pro-upgrades.

NORITZ AMERICA CORPORATION, a subsidiary of Noritz Japan, has corporate offices in Fountain Valley, Calif., and Atlanta, offering a full line of tankless water heaters and high-efficiency combination boilers to meet the hot water demands of residential and commercial applications. Noritz supports its products with a national network of skilled representatives and employees committed to providing our communities with the finest products and services by helping consumers live a more comfortable, efficient, and healthy lifestyle. For more information on Noritz America and the entire line of Noritz’s ENERGY STAR® tankless water heaters, please call (877) 986-6748 or visit our website at www.noritz.com.

CONTACT:
Andrew Tran
Noritz America
(714) 433-7813
atran@noritz.com

View original content:https://www.prnewswire.com/news-releases/noritz-upgrades-ez-pro-series-of-tankless-water-heaters-with-larger-multi-function-panel-display-for-faster-installation-and-servicing-302752319.html

SOURCE Noritz

Continue Reading

Trending