Asia Pacific Battery Cooling Plate Market Size & Outlook
Asia Pacific battery cooling plate market, 2018-2030 (US$M)
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Asia Pacific battery cooling plate market highlights
- The Asia Pacific battery cooling plate market generated a revenue of USD 200.2 million in 2022.
- The market is expected to grow at a CAGR of 39.2% from 2023 to 2030.
- In terms of segment, bev was the largest revenue generating application in 2022.
- BEV is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 200.2 million |
| Market revenue in 2030 | USD 2,829.0 million |
| Growth rate | 39.2% (CAGR from 2022 to 2030) |
| Largest segment | Bev |
| Fastest growing segment | BEV |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BEV, PHEV |
| Key market players worldwide | Dana Inc, HELLA GmbH & Co KGaA, Nomura Holdings Inc ADR, Modine Manufacturing Co, MAHLE, Bespoke Composite Panels, Nippon Light Metal, Priatherm, SANHUA Automotive, Goshu Kohsan Co |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 50.7% of the global battery cooling plate market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 937.4 million by 2030.
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Battery Cooling Plate Market Scope
Battery Cooling Plate Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific battery cooling plate market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery cooling plate market will help companies and investors design strategic landscapes.
Bev was the largest segment with a revenue share of 50.75% in 2022. Horizon Databook has segmented the Asia Pacific battery cooling plate market based on bev, phev covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific had the highest EV sales in the world in 2021, with China holding majority share in the region. This trend is anticipated to continue over the forecast period owing to the rising population, rapid urbanization, and growing demand from emerging economies such as China and India.
This is expected to positively influence the production of EV batteries and the demand for battery cooling plates over the forecast period. Asia Pacific is gaining preference in the manufacturing sector and thus, is attracting EV manufacturers to invest in new plants and facilities in the region.
For instance, in October 2021, Hyundai Motor Group announced a new EV manufacturing plant in Indonesia. The plant is expected to produce 150,000 units of EVs annually. Thus, a rise in EV production is anticipated to drive the demand and production of battery cooling plates in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific battery cooling plate market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific battery cooling plate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific battery cooling plate market size, by country, 2018-2030 (US$M)
Asia Pacific Battery Cooling Plate Market Outlook Share, 2022 & 2030 (US$M)
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