New York, USA, Jan. 13, 2025 (GLOBE NEWSWIRE) — Market Overview
In 2024, the electric vehicle battery coolant market was estimated to be worth USD 2,071.50 million. At a compound annual growth rate of 3.4%, it is anticipated to increase from USD 2,138.48 million in 2025 to USD 2,891.37 million by 2034.
Market Introduction
In electric cars, the battery cooling system controls the battery pack’s temperature. For EVs to continue operating at peak efficiency, safety, and durability, efficient battery cooling systems are essential. Controlling the battery packs’ temperature is the main purpose of these cooling systems. Cooling loops with liquid coolants are used in electric vehicles for battery thermal management. One popular technique for keeping the batteries in electric vehicles cool is liquid cooling. It lowers the temperature by using a liquid coolant, such as ethylene glycol or water. The heat is transferred to a different location, such as a radiator, by means of tubes or plates that surround the battery cells. In order to keep the battery operating in the optimal temperature range, the electric vehicle cooling system is crucial.
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Electric Vehicle Battery Coolant Market Details
| 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
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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