Battery Cooling Plates Industry Procurement Outlook
Battery cooling plates provide a mechanical and thermal interface to regulate the temperature of the battery pack. A heated/cooled coolant flows through the cooling surface and keeps the temperature of the battery units within optimum limits. The overall process also helps in extending the life of the battery. While these can be used in any and every segment which require thermal regulation of batteries, cooling plates have seen significant uptake in the automotive industry, especially with the rise of electric and hybrid vehicles.
Battery Cooling Plates Industry Demand Outlook
The global battery cooling plates market was valued at USD 735.8 million in 2020 and is expected to grow at a steady CAGR of 28.1% to reach USD 3,361.1 million by 2025. The market can be segregated by the type of material used to make the battery cooling plates, that is aluminum and steel. Aluminum plates have been gaining significant traction over the last few years with most of the new vehicles being manufactured post 2017 or 2018 having cooling plates made of aluminum.
The battery cooling plates mostly customized for a vehicle type with the OEMs having high level on involvement during the design and conceptualization of the cooling plates. As such, value based pricing is one of the most commonly used pricing strategies used across the industry.
Battery Cooling Plates Industry Cost Drivers
Cooling plates are still in their early stages of development. Several companies are researching to broaden the scope of usage of a cooling plate or to manufacture the plates using materials that make thermal management better at the same time using lightweight materials to do so. All these will culminate in better quality of cooling plates helping the market grow from a value-driven perspective.
Grab your copy, or request for a free sample of the “Battery Cooling Plates Industry Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.@ https://www.grandviewresearch.com/pipeline/battery-cooling-plates-industry-procurement-intelligence-report
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A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
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Market Intelligence involving – market size and forecast, growth factors, and driving trends
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