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

100 – Tables
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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.

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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

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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.

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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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America’s First VC-Backed Cyber Warfare Startup Raises Additional $30M from Khosla Ventures at $1.2B Valuation

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The investment follows Twenty’s $100M Accel-led Series B and further cements Twenty as the definitive offensive cyber company industrializing capabilities for the United States and its allies.

ARLINGTON, Va., July 20, 2026 /PRNewswire/ — Twenty, America’s first VC-backed cyber warfare startup, today announced an additional $30 million investment from Khosla Ventures at a $1.2 billion valuation. The investment follows Twenty’s recently announced $100 million Series B at a $1 billion valuation led by Accel.

With this investment, Twenty has now raised $168 million from many of the world’s foremost technology and national security investors, including Khosla Ventures, Accel, Friends & Family Capital, Point72 Ventures, Caffeinated Capital, General Catalyst, and In-Q-Tel.

Founded in 2024, Twenty is industrializing offensive cyber warfare for the United States and its allies. The company builds AI-enabled, end-to-end systems for the U.S. military and Intelligence Community, giving warfighters the speed and scale required to deter and defeat adversaries in cyberspace. Twenty’s systems are designed to keep human judgment at the center, pairing advanced AI and automation with rigorous evaluation, controlled deployment, and mission alignment.

The investment follows unprecedented government demand for offensive cyber capabilities built at commercial speed. This Administration has brought renewed leadership to offensive cyber, calling for the United States to use the full suite of offensive cyber operations to disrupt adversary networks and raise the costs of aggression on those who threaten American interests.

“Our thesis here is simple. AI is reshaping the world and the US and its allies need an AI-native cyberwarfare prime capable of protecting our most critical interests. That prime is Twenty,” said Jon Chu, the Partner at Khosla Ventures who led the investment. “Every major national security domain needs a prime that can operate at the speed of AI while delivering commercial grade execution and earning mission level trust. I’ve searched for a company that fits this thesis for years, but have never found a team with the necessary depth across AI, cyber, and defense until now. Twenty brings together the talent, product velocity, customer pull, and mission relevance required to define this category.”

“Khosla’s investment is further validation that Twenty is the definitive company industrializing cyber warfare for the United States and its allies,” said Joe Lin, Co-founder and CEO of Twenty. “We are building the industrial base for American cyber power: the AI-enabled capabilities our warfighters need to disrupt threats at their origin. We are grateful to partner with Jon and the Khosla team as we continue pouring capital directly into research and engineering.”

“AI is changing cyber warfare. Now it happens faster, at greater scale, and most defense contractors are still building for the old world,” said Vinod Khosla, founder of Khosla Ventures. “The country that moves fastest on AI-native cyber warfare will have the advantage for the next decade. Joe and the Twenty team have the technical depth and operational credibility to industrialize offensive cyber capability at exactly the moment it matters most.”

Twenty will invest this capital directly into research and engineering, expanding the technical team and accelerating development of the offensive cyber capabilities America’s warfighters need to win against determined adversaries.

About Twenty

Twenty is America’s first VC-backed cyber warfare startup. Founded in 2024, Twenty is industrializing cyber warfare for the United States and its allies. The company builds AI-enabled, end-to-end systems for the U.S. military and Intelligence Community, giving warfighters the speed and scale required to impose costs on adversaries in cyberspace. Twenty’s systems are designed to keep human judgment at the center, pairing advanced AI and automation with rigorous evaluation, controlled deployment, and mission alignment.

View original content to download multimedia:https://www.prnewswire.com/news-releases/americas-first-vc-backed-cyber-warfare-startup-raises-additional-30m-from-khosla-ventures-at-1-2b-valuation-302829778.html

SOURCE Twenty

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Construction begins on the Enbridge Sunrise Expansion Program

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PRINCE GEORGE, BC, July 20, 2026 /CNW/ — Canada is taking the next step in building infrastructure that will strengthen our economy, secure energy sovereignty and ensure affordability for Canadians.

Today, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, announced that construction has begun on the Sunrise Expansion Program in British Columbia, following the Government of Canada’s approval in April 2026.

This $4-billion expansion of Enbridge’s Westcoast natural gas pipeline will ensure British Columbia’s growing energy needs are met by providing up to 300 million cubic feet per day of additional transportation capacity on the province’s natural gas transmission system. This additional capacity ensures we can reliably power homes, schools and hospitals; support B.C.’s industrial and manufacturing sectors; and ensure natural gas supplies are available as LNG export facilities — including Woodfibre LNG, the world’s first net-zero facility — begin operations.

The Sunrise Expansion Program marks another milestone in Canada’s strategic push to get major infrastructure projects built to diversify our trade, create jobs and prosperity, and support national and energy security. The Expansion Program will add over $3 billion to Canada’s GDP as we expand Canadian natural gas exports to Asian markets. It will also create 2,500 jobs, including for local Indigenous communities, and generate $700 million in tax revenue to fund local roads, hospitals and schools.

The project will also maximize Canadian industrial participation and use domestically produced materials, including 100 percent Canadian melted and poured steel supplied by InterPro Pipe + Steel from Saskatchewan. Commitments to buying and supplying Canadian in projects like this support manufacturing jobs and strengthen Canadian supply chains from coast to coast to coast.

This project builds on a strong foundation of Indigenous partnership. Last year, 38 Indigenous communities in British Columbia acquired a 12.5 percent ownership interest in Enbridge’s Westcoast natural gas pipeline system, supported by the first-ever federal Indigenous Loan Guarantee.

The Sunrise Expansion Program underscores the Government of Canada’s commitment to working in partnership with provinces, industry and Indigenous partners to efficiently and responsibly approve projects that turn our energy opportunities into economic realities. We are building a Canada where major projects move forward, new jobs are created, and energy is secure and affordable for everyone.

Quotes 

“From approval to groundbreaking in just three months, the Sunrise Expansion Program shows how Canada is getting major projects built. This expansion will provide reliable natural gas for homes, hospitals, schools and B.C.’s growing low-carbon energy sector while creating thousands of well-paying careers and new, diverse international trade opportunities. This is how we strengthen Canadian energy security, support affordability and prove once again what being an energy superpower looks like.”

The Honourable Tim Hodgson 
Minister of Energy and Natural Resources 

“Breaking ground on Enbridge’s Sunrise expansion is a big step forward for our economy, for good local jobs and for Indigenous communities. Through our government’s Look West strategy, we’re building the kind of lasting prosperity that keeps our hospitals, schools and communities strong for generations to come.”

The Honourable Ravi Kahlon
B.C Minister of Jobs and Economic Growth

“The Sunrise Expansion project demonstrates what’s possible when First Nations, industry and government work together with a shared commitment to building a stronger future. For Lheidli T’enneh, meaningful partnerships are about more than economic opportunity — they are about ensuring our Nation has a seat at the table in shaping projects that will benefit our people and region for generations to come. By working collaboratively, we can help build a reliable and secure energy future that supports growing communities, creates opportunities for First Nations participation and respects the lands and waters that have sustained for time immemorial. This is the kind of partnership that moves reconciliation from words to action while strengthening a shared future.”

Chief Dolleen Logan
Lheidli T’enneh First Nation

“Today marks an important milestone as construction begins on the Sunrise Expansion Program. We appreciate the ongoing support of the Government of Canada and the Government of British Columbia to advance this critical natural gas infrastructure project. This project will strengthen energy security, support economic growth, create jobs and help to ensure Canadians have access to reliable, affordable energy for decades to come. We’re proud to be working alongside Indigenous groups, local communities, contractors and labour across British Columbia as we move this project from approval to construction and deliver lasting benefits for Canadians.”

Greg Ebel
CEO and President, Enbridge

“The Sunrise Expansion Program will be built in Canada, with Canadian steel. InterPro Pipe + Steel is proud to supply steel that is 100 percent melted and poured in Canada for this nation-building project. By choosing Canadian steel, we are supporting skilled workers, strengthening domestic supply chains and ensuring Canada’s critical energy infrastructure is built with Canadian materials. This is how we create lasting jobs, resilient communities and long-term economic benefits across the country.”

Doug Matthews
CEO, InterPro Pipe + Steel

Quick Facts 

The Enbridge Westcoast Pipeline is a 2,900-kilometre natural gas transmission system in British Columbia, supplying gas to B.C., Alberta and the U.S. Pacific Northwest. The Expansion Program would add approximately 140 kilometres of new pipeline by constructing 11 pipeline looping segments, parallel to the existing line, and supplying additional natural gas compression and upgrades and modifications to existing facilities.On July 2, 2025, Stonlasec8 Indigenous Alliance Limited Partnership, representing 38 Indigenous communities in British Columbia, acquired a 12.5 percent ownership interest in Enbridge’s Westcoast natural gas pipeline system. This transaction was supported by the Indigenous Loan Guarantee Program, which issued a loan guarantee covering $400 million of a $736-million investment.To date, more than $52 million has been spent by Enbridge on the hiring and procuring of services from Indigenous businesses for the Sunrise Expansion Program.

SOURCE Natural Resources Canada

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PrideStaff Announces New Ownership for Columbia, MD Office

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COLUMBIA, Md., July 20, 2026 /PRNewswire/ — PrideStaff, a nationally franchised staffing organization, is pleased to announce that Paul D’Souza will acquire the PrideStaff Columbia office and assume the role of Owner/Strategic-Partner. The ownership transition marks an exciting new chapter for the office as it continues its mission of connecting top talent with leading employers throughout Columbia and the greater Baltimore-Washington metropolitan region.

As Strategic-Partner, D’Souza will lead the Columbia office’s efforts to expand its market presence, strengthen client relationships, and deliver exceptional staffing and workforce solutions to businesses and job seekers across Central Maryland.

D’Souza brings extensive business leadership experience and a strong commitment to helping organizations and individuals achieve their goals. Under his leadership, the Columbia office will continue to leverage PrideStaff’s nationally recognized resources, innovative staffing solutions, and client-focused approach while maintaining the personalized service that has become a hallmark of the local operation.

“I’m excited to join PrideStaff as the Strategic-Partner of the Columbia office and to become part of a brand so highly regarded for its commitment to service,” said D’Souza. “The Columbia market offers tremendous opportunities for growth, and I look forward to building strong relationships with local businesses, supporting job seekers, and helping our clients navigate an increasingly competitive talent landscape. Together with our team, we’ll continue delivering the personalized service and results that have made PrideStaff a trusted staffing partner.”

Located in one of Maryland’s most vibrant business communities, the Columbia office serves employers across a variety of industries, providing staffing, recruiting, and workforce solutions tailored to each client’s unique needs. The office also supports job seekers throughout the region by connecting them with meaningful employment opportunities and career advancement resources.

“We’re excited to welcome Paul as the new Owner/Strategic-Partner of our Columbia office,” said Tammi Heaton, Co-CEO of PrideStaff. “His leadership experience, entrepreneurial spirit, and dedication to helping others succeed make him an excellent fit for our organization. We are confident that Paul will build on the office’s strong foundation while continuing to deliver the exceptional client and talent experiences that define the PrideStaff brand.”

The transition reflects PrideStaff’s ongoing commitment to empowering local owners who combine market expertise with a passion for service. Supported by PrideStaff’s national resources and proven operating model, the Columbia office is well-positioned for continued success and growth in the years ahead.

About PrideStaff 

PrideStaff was founded in the 1970s as 100% company-owned units and began franchising in 1995. It operates offices in North America to serve thousands of clients and is headquartered in Central California. With 45-plus years in the staffing business, PrideStaff offers the resources and expertise of a national firm, with the spirit, dedication, and personal service of smaller, entrepreneurial firms. PrideStaff is the only nationwide commercial staffing firm in the U.S. and Canada with over $100 million in annual revenue to earn ClearlyRated’s prestigious Best of Staffing® 15-Year Diamond Awards three years in a row, highlighting exceptional client and talent service quality.

For more information on our services, or for staffing franchise information, visit our website.

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SOURCE PrideStaff

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