ELECTRIC VEHICLE BATTERY COOLING PLATE MARKET SIZE & SHARE By VEHICLE TYPE (LV, M&HCV, BUSES), BY PROPULSION TYPE (BEVs, HEVs), BY PLATE TYPE (SERPENTINE PLATES, RECTANGULAR PLATES), BY BATTERY TYPE (LITHIUM-ION, NEXT GENERATION BATTERIES) BY COOLING TECHNOLOGY (LIQUID COOLING, AIR COOLING), BY SUPPLY CHAIN (BATTERY MODULE SUPPLIERS, BATTERY THERMAL MANAGEMENT SUPPLIERS, AUTO OEMS), AND BY REGION & COUNTRY–FORECAST TO 2032
| Report Code: A&T2002-0102 | Number of Pages: 400 | Report Format: PDF, EXCEL, PPT |
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Trend Year: 2022 – 2024 |
Forecast Period: 2025 – 2032 |
Publish Date: AUGUST 2025 |
Unleashing the $3.8 Billion Opportunity in Next-Gen EV Battery Cooling Plate Market: The global EV battery cooling plate market, valued at US$1.5 billion in 2024, is poised for dynamic expansion, targeting $3.8 billion by 2032 at a robust CAGR of 12.1%. This surge is directly linked to the explosive worldwide adoption of electric vehicles and the crucial need to manage the intense heat generated by today’s high-performance, high-density lithium-ion battery packs—especially under fast-charging and demanding driving scenarios. As batteries become more energy-dense and rapid charging gains prevalence, effective thermal management systems have emerged as mission-critical for ensuring battery safety, efficiency, and lifespan. Battery cooling plates play a pivotal role in maintaining optimal operating temperatures, directly preventing both performance losses and the risk of dangerous thermal runaway. Innovations in cooling plate design, such as advanced serpentine and rectangular architectures—are gathering speed as OEMs prioritize battery longevity, vehicle reliability, and compliance with increasingly stringent safety standards. Furthermore, rapid rollout of fast-charging infrastructure intensifies the thermal load on EV batteries, further fuelling global demand for next-generation cooling solutions. Collectively, these drivers ensure that battery cooling plates stand at the heart of EV technology evolution, pushing the market toward sustained, innovation-led-growth.
MARKET DYNAMIC
GROWTH DRIVERS:
- Global surge in electric vehicle (EV) production and sales
- Increasing need for efficient thermal management
- Stringent emission regulations and government support for EV adoption
- The development of high-capacity, fast-charging batteries necessitates advanced cooling systems to prevent overheating
NEW GROWTH OPPORTUNITIES:
- The growing network of fast-charging stations increases the need for better battery thermal management
- Gaining traction of solid-state batteries
- Opportunity 3
- Opportunity 4
MARKET RESTRAINTS:
- High cost of advanced cooling systems
- Design complexity
- Market Restraint 3
GROWTH HURDLES:
- Heat distribution and uniformity
- Supply chain disruptions
Vehicle Type: Next-Gen Thermal Solutions: Driving the Future of EV Performance: The EV battery cooling plate market demonstrates pronounced segmentation based on vehicle type, reflecting the distinct thermal management challenges and technological demands of each category. Light Vehicles (LV) primarily comprising electric sedans, hatchbacks, and compact SUVs, led in terms of volume and share, propelled by surging global adoption of electric passenger vehicles. For this segment, manufacturers prioritize compact, lightweight, and highly efficient cooling plate solutions. The ability to maintain optimal battery temperatures in restricted spaces directly influences battery efficiency, passenger range, and overall onboard energy utilization, making advanced thermal control a competitive differentiator in the intensely contested passenger EV market.
In contrast, the Medium & Heavy Commercial Vehicles (M&HCV) and Buses & Others segments—spanning electric trucks, delivery vans, urban buses, and specialized fleet vehicles, faces fundamentally different cooling challenges. These vehicles are equipped with significantly larger battery packs that generate and accumulate more heat, particularly during sustained high-power operation, rapid charging, or heavy payload cycles. Consequently, they demand robust, high-capacity cooling plate systems engineered for greater thermal loads, durability, and operational uptime. For public transport fleets and logistics carriers, effective battery cooling is integral not just for safety and battery lifespan but also for meeting stringent reliability targets and regulatory requirements for commercial fleets.
Propulsion Type: Cooling Plate Innovations and BEV Dominance and HEV Adaptability
The EV battery cooling plate market is distinctly segmented by propulsion type into Battery Electric Vehicles (BEVs) and Hybrid Electric Vehicles (HEVs), each with unique thermal management demands. BEVs, operating solely on large, high-capacity battery packs, generate substantial heat during intense usage and rapid charging cycles, necessitating highly efficient, advanced cooling plates to ensure safety, performance, and battery longevity. This critical need positions BEVs to command the largest market share throughout the forecast period, propelled by accelerating global electrification trends, stringent emissions regulations, and expanding government incentives.
In contrast, HEVs rely on smaller battery systems that produce comparatively less heat, resulting in simpler cooling requirements and lower demand for complex cooling plate solutions. However, the hybrid segment remains essential, especially in transitional markets and regions where full electrification is emerging. The propulsion-driven divergence in cooling needs fuels innovation in cooling plate design from sophisticated, high-performance systems in BEVs to more compact, cost-effective solutions in HEVs enabling tailored thermal management and supporting the broader shift toward sustainable mobility.
Plate Type: Optimizing Thermal Management: Balancing Performance and Cost with Serpentine and Rectangular EV Battery Cooling Plates
By plate type, the EV battery cooling plate market is divided into Serpentine Plates and Rectangular Plates. Serpentine Plates have a winding flow channel that allows coolant to circulate efficiently. This design provides even temperature distribution across the battery surface. These plates are commonly used in high-performance EVs due to their excellent heat dissipation and compact size. Rectangular Plates have a simpler layout, making them easier and cheaper to produce. They are suitable for situations where moderate thermal management is enough, such as in some hybrid vehicles or smaller battery packs. Rectangular plates are the most popular type. Their appeal comes from their simple design, easy manufacturing, and low cost. These qualities make them ideal for mass production and integration into various electric vehicle platforms. Rectangular plates provide consistent performance and are often preferred in standard battery setups where uniform cooling is necessary. While serpentine plates offer better cooling because of their complex channel design, they are usually more complicated and costly to make. As electric vehicle adoption grows, especially in markets focused on cost, the demand for rectangular cooling plates is likely to stay strong due to their practicality and compatibility with common battery pack layouts.
Cooling Technology: Mastering Thermal Control - Liquid Cooling Leading the Charge, Air Cooling Supporting Efficiency
Liquid cooling stands as the dominant and fastest-growing method, leveraging advanced coolant fluids circulating through intricately designed plates or channels to rapidly absorb and dissipate heat from large, high-capacity battery packs. This superior heat transfer efficiency ensures consistent, precise thermal regulation even under extreme driving conditions and rapid fast-charging scenarios—critical for high-performance electric vehicles and commercial platforms demanding optimal safety, extended battery life, and peak performance.
Conversely, air cooling systems utilize natural or forced airflow to dissipate heat. While offering simplicity, lower upfront costs, and easier integration, air cooling is inherently limited in thermal capacity, making it more suitable for vehicles with smaller battery packs or hybrid configurations with less intense cooling demands. Its typically lower cooling efficiency restricts application in powerful, fast-charging EVs, where temperature control is paramount. As industry standards tighten around safety and thermal stability, and as electric vehicles scale in battery size and performance expectations, liquid cooling technology is projected to decisively lead the market. Meanwhile, air cooling retains relevance in cost-sensitive, low-to-medium power segments, creating a balanced ecosystem of cooling solutions tailored to diverse electric mobility needs.
Supply Chain: Driving Synergy and Innovation: Key Roles in the EV Battery Cooling Plate Supply Chain Ecosystem
By supply chain, the EV battery cooling plate market is divided into Battery System / Module Manufacturers, Battery Thermal Management System Suppliers, and OEMs (Original Equipment Manufacturers). Battery System and Module Manufacturers integrate cooling plates directly into battery packs, focusing on efficient assembly and seamless thermal integration to enhance battery performance and safety. BTMS Suppliers specialize in designing and delivering advanced cooling plate technologies and fluid management components that ensure precise, reliable temperature control under varied operating conditions. Meanwhile, OEMs drive market demand by setting stringent vehicle-level requirements for thermal management, emphasizing durability, manufacturability, and regulatory compliance. The collaboration across these supply chain tiers fosters innovation, enables tailored cooling solutions for diverse EV platforms, and accelerates market adoption driven by evolving performance, safety, and sustainability mandates.Top of Form
Regional: APAC and China’s Manufacturing Dominance, Western Premium Focus, and Emerging Market Growth Fuel Battery Chemistry and Cooling Innovation and Adoption
Asia Pacific accounted for the largest share of the global EV battery cooling plate market. This growth comes from a mix of high electric vehicle adoption, strong manufacturing capabilities, and supportive government policies. China is a leader in the region. It has the highest number of EV sales in the world and is home to major manufacturers like BYD and NIO, along with battery companies such as CATL. These firms drive the demand for effective battery thermal management systems, such as cooling plates. Additionally, Japan and South Korea, with their leading battery and automotive companies, enhance the region’s influence. Government incentives, strict emission rules, and a growing effort to cut urban pollution have sped up EV adoption throughout the region. The well-established and cost-effective supply chain, along with high-volume production capabilities, makes Asia Pacific a manufacturing centre for both EVs and their parts. Consequently, this region not only meets its domestic needs but also plays a significant role in supplying EV and battery technologies to markets worldwide, solidifying its status as the largest market for EV battery cooling plates.
China plays a pivotal role in the global EV battery cooling plate market, emerging as the largest and most influential contributor within the Asia Pacific region. As the world’s largest electric vehicle market, China accounts for over half of global EV sales, driven by major domestic automakers like BYD, NIO, XPeng, and SAIC Motor. This massive production volume generates strong demand for efficient battery thermal management systems, including advanced cooling plates. Additionally, China is home to the world’s leading battery manufacturers such as CATL and BYD, who not only supply batteries domestically but also export to international markets. These high-capacity batteries require reliable cooling solutions to ensure safety and performance, further fuelling the demand for cooling plates. The Chinese government supports this growth through extensive subsidies, EV mandates, and safety regulations that emphasize effective thermal management. China’s vertically integrated supply chain, from raw materials to complete EV assembly, enables large-scale, cost-effective manufacturing of cooling systems. Moreover, ongoing innovation in cooling technologies and materials ensures that China remains at the forefront of battery thermal management. As a result, China continues to dominate the EV battery cooling plate market and is expected to maintain its leadership position in the years ahead.
Competition: EV Battery Cooling Plate Market
The EV battery cooling plate market is very competitive. Key players focus on innovation, improving thermal management efficiency, using lightweight materials, and forming strategic partnerships to boost their market presence. Companies are also investing in research and development to create compact, high-performance cooling systems that meet changing EV designs and safety standards. Major companies operating in the global EV battery cooling plate market include VALEO, MAHLE GmbH, Dana Incorporated, Sogefi S.p.A., BorgWarner Inc., BYD, Marelli, Modine Manufacturing Company, Shenzhen Cotran New Material Co., Ltd., Estra, and Mersen Corporate Services SAS. These players are continuously advancing product designs to support the growing demand for efficient, reliable, and scalable thermal management solutions in electric vehicles worldwide.
Valeo SA, based in Paris, France, is a major global supplier for the automotive industry and plays an important role in the EV battery cooling plate market. The company focuses on sustainable mobility and vehicle electrification. Valeo has created effective thermal management systems that are vital for the performance and safety of electric vehicles. They provide high-efficiency, liquid-based cooling solutions that help manage battery temperature, improve charging efficiency, and extend the battery’s lifespan. These systems are designed to be compact, lightweight, and suitable for different EV battery setups, suiting changing vehicle designs. Valeo continues to invest in research and development and builds strategic partnerships with leading OEMs. This positions the company as a technology leader in the EV thermal systems sector. Operating in major global markets, Valeo stays at the leading edge of battery cooling technologies, supporting the quick shift to electric mobility.
MAHLE GmbH, based in Stuttgart, Germany, is a prominent global automotive supplier and a key player in the EV battery cooling plate market. With decades of experience in thermal management and powertrain systems, MAHLE has expanded its offerings to meet the rising demand for electric vehicles. The company develops and supplies battery cooling plates and thermal management solutions that ensure optimal battery performance, safety, and longevity. MAHLE’s cooling plates efficiently dissipate heat, even during high-load or fast-charging situations and are tailored for next-generation EV platforms. Its solutions emphasize lightweight materials, compact design, and high thermal conductivity to enhance overall vehicle efficiency. With a solid R&D foundation and strong partnerships with global OEMs, MAHLE continues to innovate in battery thermal management and strengthens its position as a trusted supplier in the worldwide EV components market.
EV BATTERY COOLING PLATE MARKET SNAPSHOT | |
Market Size In 2025 | USD 1.5 BILLION |
Market Forecast In 2032 | USD 3.8 BILLION |
Compound Annual Growth Rate (2025-2032) | 12.1% |
Historical Data (Years) | 2022-2024 |
Forecast Data (Years) | 2025-2032 |
Region Dominance | Asia Pacific |
Country Dominance | China |
Growth Driver | Global surge in electric vehicle (EV) production and sales Increasing need for efficient thermal management, Stringent emission regulations and government support for EV adoption, The development of high-capacity, fast-charging batteries necessitates advanced cooling systems to prevent overheating |
Segments Covered | BY VEHICLE TYPE, BY PROPULSION TYPE, BY PLATE TYPE, BY BATTERY TYPE, BY COOLING TECHNOLOGY, BY SUPPLY CHAIN, AND BY REGION & COUNTRIES |
Regions Covered | NORTH AMERICA, EUROPE, ASIA PACIFIC, SOUTH AMERICA, MIDDLE EAST & AFRICA |
Countries Covered | USA, CANADA, MEXICO, UK, GERMANY, FRANCE, RUSSIA, REST OF THE EUROPE, CHINA, INDIA, JAPAN, AUSTRALIA, INDONESIA, REST OF APAC, BRAZIL, ARGENTINA, REST OF THE WORLD |
Companies Profiled (25+) | VALEO, MAHLE GMBH, DANA INCORPORATED, SOGEFI S.P.A., BORGWARNER INC., BYD, MARELLI, MODINE MANUFACTURING COMPANY, SHENZHEN COTRAN NEW MATERIAL CO., LTD. (CHINA), ESTRA, MERSEN CORPORATE SERVICES SAS, ZHEJIANG SANHUA AUTOMOTIVE COMPONENTS, ONEGENE, YINLUN CO. LTD., MANY MORE. |
