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Electric Vehicle Battery Coolant Market Is Expected To Reach USD 2,891.37 Million By 2034, Displaying A Compound Annual Growth Rate Of 3.4% Over The Forecast Period | PMR
| Report Attribute | Details |
| Market Value in 2025 | USD 2,138.48 million |
| Market value by 2034 | USD 2,891.37 million |
| CAGR | 3.4 % |
| Base Year | 2024 |
| Historical Data | 2020–2023 |
| Forecast Period | 2025–2034 |
Key Players in Electric Vehicle Battery Coolant Market
Major market participants are making significant investments in R&D to broaden their product arsenal, which will support further growth in the Electric Vehicle Battery Coolant Market. Among the leading companies in the industry are:
- BASF Valvoline Exxon Mobil Corporation GS Caltex Shell plc Dober VALEO Veedol Arteco CASTROL LIMITED
Electric Vehicle Battery Coolant Market Growth Drivers
Increasing Urban Developments
Growing urbanization across the globe is a major factor in the Electric Vehicle Battery Coolant Market. Frequent stop-and-go traffic is common in urban settings, which causes EV batteries to generate more heat. In order to control this heat and guarantee peak performance in such circumstances, effective battery coolants are crucial. Additionally, the growing number of EVs is supported by the expansion of charging infrastructure in metropolitan areas. This increases the need for sophisticated battery cooling systems, which in turn raises the need for coolants.
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Growing Technological Advancements
The global Electric Vehicle Battery Coolant Market is expected to increase as a result of growing technological advancements. Larger batteries with more energy storage capacity are becoming possible because of developments in battery technology. These bigger battery packs produce more heat when in operation and are frequently found in commercial electric cars and higher-performance EVs. Modern coolants with improved thermal conductivity and stability are needed to control the thermal output of these bigger battery systems.
Regional Overview
The study offers market insights for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2024, Asia Pacific had a significant portion of the Electric Vehicle Battery Coolant Market because of the quick uptake of electric cars, especially in China. The need for cutting-edge thermal management systems was greatly increased by the nation's vigorous efforts to support electric mobility, which included considerable government incentives and expenditures in charging infrastructure. Region's position as a worldwide center for the development of electric vehicles and its vast manufacturing capabilities further cemented its supremacy in this industry.
Because of the growing focus on lowering greenhouse gas emissions and improving fuel economy, the North American market for electric vehicle battery coolant is anticipated to expand at a substantial compound annual growth rate over the forecasted period. North America is a crucial continent in the changing landscape of thermal management for vehicle batteries because of its strong automotive infrastructure and the growing number of manufacturers venturing into the HEV market.
Recent Progress in Electric Vehicle Battery Coolant Market
In February 2024, the chemical firm stated that their high-performing glycol-purification solution, DuPont Amberlite EV2X resin, might help prolong the life of EV coolant while lowering the need for glycol maintenance. This is accomplished by providing superior operating characteristics and increased heat stability in comparison to conventional ion exchange resins.
In April 2023, Arteco, a manufacturer and developer of high-quality heat transfer fluids and antifreeze coolants for industrial and automotive applications, announced the release of Freecor EV Multi 10. Specifically created as a multipurpose coolant for e-motors, power electronics, batteries, and all other parts in both fully electric and hybrid cars, it is a novel EV coolant.
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Electric Vehicle Battery Coolant Market Segmentation
By Battery Outlook (Volume, Revenue, USD Billion, 2020–2034)
- Lead Acid Battery Lithium Ion Battery Other
By Coolant Outlook (Volume, Revenue, USD Billion, 2020–2034)
- Glycol-based Water-based
By Vehicle Type Outlook (Volume, Revenue, USD Million, 2020–2034)
- Battery Electric Vehicles Hybrid Electric Vehicles
By Regional Outlook (Volume, Revenue, USD Million, 2020–2034)
- North America
- US Canada
- Germany France UK Italy Spain Netherlands Russia Rest of Europe
- China Japan India Malaysia South Korea Indonesia Australia Rest of Asia Pacific
- Saudi Arabia UAE Israel South Africa Rest of Middle East & Africa
- Mexico Brazil Argentina Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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