THE BATTERY SHOW EUROPE

Discover the future of energy solutions at The Battery Show Europe 2024 showcasing cutting-edge technologies and breakthrough innovations in the battery and energy storage industry. We invite you to explore our latest offerings, from advanced battery systems to sustainable energy solutions. Don’t miss this opportunity to connect with industry peers, exchange ideas, and discover new possibilities for powering a sustainable future.

Join Yole Group at the conference, where industry experts will delve into key topics shaping the future of energy storage. Gain insights into emerging trends, market dynamics, and the latest advancements driving innovation in renewable energy. We invite you to explore our latest offerings, from advanced battery systems to sustainable energy solutions.

ABSTRACT:
The automotive industry has taken a big step towards full vehicle electrification. The annual demand for Li-ion battery packs for battery electric and plug-in hybrid electric vehicles is poised to grow from 436 GWh in 2022 to around 1.5 TWh by 2028, with a 2022-2028 CAGR of 23%. The pivotal role of optimal temperature in ensuring the safety, performance, and longevity of lithium-ion batteries cannot be overstated. Consequently, an appropriate battery thermal management system (BTMS) is required within a battery pack to proactively address thermal concerns, enhancing overall performance. BTMS represents the second-largest market within the Li-ion battery pack domain, following battery cells. The annual BTMS market will grow from $7B in 2022 to more than $18B by 2028, with a 2022-2028 CAGR of 18.1%. The BTMS includes several components, such as a heat exchanger, tubes, hoses, cold plates, cooling fluids, pumps, valves, and temperature sensors. As of 2024, a significant majority of electric vehicles employ liquid cooling based BTMS. The challenges posed by cooling large-capacity battery packs and the needs for fast charging call for innovations in battery cell and pack designs, alongside advancements in BTMS. Immersion cooling, a method involving the direct immersion of Li-ion battery cells in a dielectric fluid, has attracted substantial interest for its potential in overcoming some challenges associated with ultra-fast charging. This presentation will furnish a comprehensive market forecast and will analyze the supply chain of BTMS. In addition, a close look will be given at the BTMS technology trend based on electric vehicle market requirements.