Pipeline

The battery cooling plates category is anticipated to grow at a CAGR of 35.7% from 2023 to 2030 with APAC having the highest share. Government policies and rising environmental consciousness are driving the demand for electric vehicles and hybrid electric vehicles which in turn require efficient thermal management and battery cooling systems. While these plates may be utilized in any business that requires thermal management of batteries, the trends in the industry largely revolve around the automotive sector, such as: • Valeo intended to provide battery cooling solutions for a high-volume electric car platform from a big German automaker in 2020. Furthermore, in 2021, European manufacturers were the first to incorporate Valeo's HVAC solutions based on a heat pump and a natural refrigerant into their EVs. In addition, the firm will soon provide retrofit thermal modules. • Matter, a technological start-up, launched the Matter Energy 1.0 battery pack in April 2022, which has an ...