How Efficient Battery Cooling Systems Are Shaping the Future of Electric Vehicles
A battery cooling system is defined as a way of controlling the temperature of an electric vehicle (EV) during performance or while charging. The battery charging method serves effectively in improving the life of an EV battery while also increasing performance with quick charge time. Battery cooling in an EV is a key area in designing and operating its systems since it is vital to keep a favorable temperature range for battery cells to achieve optimum performance, longevity, and safety. Three main kinds of EV battery cooling systems are present in the market: air, liquid, and fan. Various types of EV battery cooling systems apply to different classes of vehicles, including battery electric vehicles, hybrid-electric vehicles, and plug-in hybrid electric vehicles.
The growth of the global EV battery cooling industry is projected to be driven by increased consumer acceptance of EVs, rising safety concerns about EV batteries, advancements in cooling technology that reduce the heat more efficiently than traditional air cooling, and other encouraging government initiatives related to clear transportation strategies indirectly leading to rise in necessity of battery cooling systems which is driving the market growths of EVs.
This EV battery cooling demand is chiefly driven by the escalating requirement for thermal management of batteries in EVs and the shift towards using EVs as a means to have a greener world and improved technology, which are all setting favorable conditions for market growth while creating opportunities for efficient battery cooling systems. International Energy Agency (IEA) predicted in their report regarding global forecasts for emerging EVs projected in 2023 that the market is going to see potential growth in 2024, where sales would be over 20 percent higher than that of 2023, with EVs likely to account for more than one-fifth of the total market sales.
According to the report "Trends in Electric Cars," IEA 2023 estimated that registrations of BEVs increased from 7.3 million in 2022 to 9.5 million in 2023 while PHEVs increased from 2.9 million in 2022 to 4.3 million in 2023 globally. Since the world is rapidly moving toward EVs, a more sophisticated battery cooling system is vital for accelerating the acceptance of EVs around the globe in the future.
Figure 1: Increase in Electric Vehicle Registration in the World, in Million, in 2022 and 2023
Source: International Energy Agency (IEA)
Furthermore, the IBEF statement indicates that the Indian government emphasized making at least 30% of new vehicle sales electric by 2030. It would generate more than $200 billion in investment opportunities in the years to come and become the largest EV market. In addition to this, modern EVs integrate BMS (battery management systems) with advanced cooling technologies, thus improving the monitoring and regulation of battery temperature. Thus, will require the use of battery cooling and eventually lead to the market.
Similarly, the International Energy Agency (IEA), published a report indicating the world trends in EVs sales. The sales of electric cars for developed countries such as China recorded a super huge 6 million cars sold in 2022 and were forecasted to account for 10.1 million vehicle sales by 202. Similar trends were recorded with electric cars sold in Europe and the USA in 2022, which were about 2.7 million and 1 million, respectively. This increased about 3.4 million total EV sales recorded in Europe in 2024, while in the USA, about 1.7 million were sold. This will also result in increasing demand for efficient battery cooling systems to regulate heat generation in EVs, which will contribute to the continuous rise in demand for EVs.
Figure 2: Increase in Sales of Electric Cars in the World, in Million, in 2022-2024
Source: International Energy Agency (IEA)
It is also estimated that a significant portion of the battery cooling system requirement in EVs will be witnessed in the Asia Pacific region. This is because the Asia Pacific region is expected to gain a greater market share in the global EV battery cooling system sector since this region is one of the fastest-growing geographies for the EV industry and is also promoting the technologically advanced EV landscape. Countries that are working towards developing their manufacturing EV sector and building technologies surrounding their use include the Asian Pacific countries, China, Japan, and Taiwan. Additionally, there is a huge influx of investments, both governmental and private, around the region, especially in countries such as India, China, and Vietnam, investing in the Asia Pacific region specifically for EV technology development and EV adoption growth in years to come.
In addition, more than half of the total market for consumption of EVs belongs to Chinese manufacturers, while BYD planned to establish its EV factory in Thailand by 2024 and has committed to spending for this project around 500 million US dollars to potentially expect an output of about 150,000 vehicles yearly. The aspirational goal for Thailand is to evolve into a hub of major EV manufacturing enterprises that can quickly source USD 28 billion in foreign investment in four years while giving specific incentives to attract investment.
Further, the demand for EVs is growing in other Asian Pacific countries like India. The report of India Brand Equity Foundation stated that in 2021, around 3.31 million EVs were registered in India, and this number grew to about 10.2 million in 2022. In 2023, this figure was recorded at approximately 15.29 million, which shows a growth rate of more than five times compared to 2021.
Moreover, TotalEnergies updated immersion cooling for their batteries in October 2022, where they partnered with Valeo in order to innovate new approaches in the cooling of EV batteries with superior dielectric fluids into highly efficient systems. This partnership is aimed at increasing the utilization level of EVs while decreasing the carbon footprint of EVs. Furthermore, the latest technology and advanced cooling systems are innovating increased thermal efficiency, when compared to traditional air cooling, which will set the pace for global demand for EVs in the coming years.
Key Developments:
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Source: International Energy Agency (IEA)
Furthermore, the IBEF statement indicates that the Indian government emphasized making at least 30% of new vehicle sales electric by 2030. It would generate more than $200 billion in investment opportunities in the years to come and become the largest EV market. In addition to this, modern EVs integrate BMS (battery management systems) with advanced cooling technologies, thus improving the monitoring and regulation of battery temperature. Thus, will require the use of battery cooling and eventually lead to the market.
Similarly, the International Energy Agency (IEA), published a report indicating the world trends in EVs sales. The sales of electric cars for developed countries such as China recorded a super huge 6 million cars sold in 2022 and were forecasted to account for 10.1 million vehicle sales by 202. Similar trends were recorded with electric cars sold in Europe and the USA in 2022, which were about 2.7 million and 1 million, respectively. This increased about 3.4 million total EV sales recorded in Europe in 2024, while in the USA, about 1.7 million were sold. This will also result in increasing demand for efficient battery cooling systems to regulate heat generation in EVs, which will contribute to the continuous rise in demand for EVs.
Figure 2: Increase in Sales of Electric Cars in the World, in Million, in 2022-2024
Source: International Energy Agency (IEA)
It is also estimated that a significant portion of the battery cooling system requirement in EVs will be witnessed in the Asia Pacific region. This is because the Asia Pacific region is expected to gain a greater market share in the global EV battery cooling system sector since this region is one of the fastest-growing geographies for the EV industry and is also promoting the technologically advanced EV landscape. Countries that are working towards developing their manufacturing EV sector and building technologies surrounding their use include the Asian Pacific countries, China, Japan, and Taiwan. Additionally, there is a huge influx of investments, both governmental and private, around the region, especially in countries such as India, China, and Vietnam, investing in the Asia Pacific region specifically for EV technology development and EV adoption growth in years to come.
In addition, more than half of the total market for consumption of EVs belongs to Chinese manufacturers, while BYD planned to establish its EV factory in Thailand by 2024 and has committed to spending for this project around 500 million US dollars to potentially expect an output of about 150,000 vehicles yearly. The aspirational goal for Thailand is to evolve into a hub of major EV manufacturing enterprises that can quickly source USD 28 billion in foreign investment in four years while giving specific incentives to attract investment.
Further, the demand for EVs is growing in other Asian Pacific countries like India. The report of India Brand Equity Foundation stated that in 2021, around 3.31 million EVs were registered in India, and this number grew to about 10.2 million in 2022. In 2023, this figure was recorded at approximately 15.29 million, which shows a growth rate of more than five times compared to 2021.
Moreover, TotalEnergies updated immersion cooling for their batteries in October 2022, where they partnered with Valeo in order to innovate new approaches in the cooling of EV batteries with superior dielectric fluids into highly efficient systems. This partnership is aimed at increasing the utilization level of EVs while decreasing the carbon footprint of EVs. Furthermore, the latest technology and advanced cooling systems are innovating increased thermal efficiency, when compared to traditional air cooling, which will set the pace for global demand for EVs in the coming years.
Key Developments:
| Year | Development |
| January 2024 | XING Mobility, a leading provider of advanced EV battery systems introduced its next-generation immersion cooling battery at CES 2024. This feature will allow people to use batteries that will have their cells immersed in special dielectric fluids to avoid using air or liquid cooling systems. |
| August 2023 | MAHLE GmbH, one of the globally recognized EV-centric solution providers, introduced its bionic battery cooling plates. Such plates are being developed for better thermal cooling using nature's technology. These use the bionic structure for the cooling channels, which significantly improves the management of the performance and has structural mechanical properties. The new thermal plate offers up to 10% cooling capacity and 20% less pressure drops, as claimed by the company. |
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