Top Companies in Battery Thermal Management System Industry

The global battery thermal management system market size is projected to grow from USD 3.75 Billion in 2024 to USD 8.55 Billion by 2030, at a CAGR of 14.7%. Factors such as safety regulations imposed by lawmakers, such as mandates regarding EV battery safety, technological advancement in BTMS, innovation in BTMS components such as thermal sensors, battery packs, coolant, cooling plates, and others and rising demand for Electric vehicles are expected to increase the demand for BTMS.

The battery thermal management system market is dominated by global players such as Robert Bosch (Germany), Continental AG (Germany), Gentherm (US), Denso (Japan), and BorgWarner Inc. (US). These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.

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Top Companies in Battery Thermal Management System Industry

Robert Bosch GmbH

Robert Bosch maintains a leading position in the battery thermal management system market owing to its robust global distribution network and a comprehensive range of battery thermal management solutions. With the advancement and development of electrification, the demand for reliable and efficient battery systems has surged. Bosch maintains that optimal operating temperatures are paramount for the performance, longevity, and safety of lithium-ion batteries—the backbone of EV powertrains. Bosch's battery thermal management systems tackle the challenges associated with battery temperature regulation. These challenges include mitigating thermal runaway risks, optimizing charging efficiency, and preserving battery life. The company's commitment to expanding its BTMS solutions through substantial investments underscores its strategic objective to extend its influence in the BTMS market. For instance, in January 2024, Robert Bosch GmbH announced that through its subsidiary company (Rexroth), it would partner with Modine Manufacturing on thermal management for electrified off-highway machinery, signifying a strategic collaboration to enhance the efficiency and performance of such vehicles.

Continental AG

Continental AG is a prominent player in the field of BTMS, offering advanced solutions that enhance vehicle safety and efficiency. The company's dedication to research and development has resulted in a comprehensive portfolio of BTMS designed to optimize the performance and lifespan of electric vehicle (EV) batteries. These systems ensure efficient thermal regulation, even under demanding conditions, by integrating advanced cooling and heating technologies with intelligent thermal management algorithms. This integration safeguards battery integrity, mitigating risks associated with overheating and extreme temperature fluctuations. Continental's BTMS seamlessly integrate with vehicle electronics and control systems, allowing for precise monitoring and real-time adjustments to maintain optimal battery temperatures.

Gentherm

Gentherm is a renowned global leader in thermal management technologies, offering innovative solutions across various industries, including the automotive sector. In the realm of automotive Battery Thermal Management Systems (BTMS), Gentherm has established itself as a prominent player by developing advanced technologies to optimize the performance of electric vehicle (EV) batteries. The company's BTMS employs active thermal control mechanisms to regulate battery temperature, addressing key challenges associated with temperature fluctuations during EV operations. Gentherm collaborates with leading automakers, battery manufacturers, and technology partners to co-develop and integrate BTMS into EVs. These partnerships enable Gentherm to leverage industry expertise, access cutting-edge technologies, and gain market insights, allowing them to deliver tailored solutions that meet the specific needs of their customers and the automotive industry as a whole.

Denso Corporation

Denso Corporation is a key player in the BTMS market. As a leading automotive technology supplier, the company offers a comprehensive range of battery thermal management solutions to enhance vehicle safety, efficiency, and driving experience. On January 1, 2025, DENSO implemented organizational changes to better address the evolving needs of electrified vehicles. The company established the "Electric Power Source Control Business Unit" to focus on optimizing charging, monitoring battery conditions, and managing current. Additionally, specialized divisions such as the "Thermal Management Systems Business Unit" were created to advance energy management that comprehensively handles both heat and electric power across the vehicle. In February 2024, Denso Corporation collaborated with Betterfrost (Canada) and the Ontario Vehicle Innovation Network to make a significant advancement in addressing the range limitations of EVs in extreme heat and cold. By focusing on battery thermal management and efficiency optimization, the partnership contributes to the ongoing evolution of electric mobility and the transition toward sustainable transportation solutions.

BorgWarner Inc.

BorgWarner Inc., a global leader in propulsion solutions for combustion, hybrid, and electric vehicles, continues to drive innovation in automotive Battery Thermal Management Systems (BTMS). Leveraging its extensive expertise in propulsion technologies, the company focuses on addressing the growing demand for efficient temperature regulation in EV batteries. BorgWarner’s BTMS incorporates advanced cooling solutions designed to maintain optimal battery temperatures under diverse operating conditions. The company actively collaborates with automakers, battery manufacturers, and technology partners to develop and integrate its BTMS into electric vehicles. These strategic partnerships allow BorgWarner to leverage industry knowledge, gain access to cutting-edge technologies, and deliver customized solutions tailored to the evolving needs of its customers and the electric vehicle market. In October 2024, BorgWarner has secured significant contracts for its High Voltage Coolant Heater (HVCH) technology in China, Korea, and Japan, strengthening its presence in the Asian EV market. In China, a leading automaker selected BorgWarner’s HVCH for a fully electric SUV, with production set to begin in Q2 2025. In Korea, an EV manufacturer will integrate HVCH into a new electric pickup, starting production in Q1 2025. Additionally, BorgWarner achieved its first HVCH business award with a Japanese OEM, with production anticipated for 2028.

Related Reports:

Battery Thermal Management System Market by Propulsion (BEV, PHEV, FCEV), Offering (BTMS With Battery, BTMS Without Battery), Technology (Active, Passive, Hybrid), Battery Type, Battery Capacity, Vehicle Type and Region - Forecast to 2030

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