Battery Cooling Plate Market Accelerates with EV Boom, Projected to Hit $2.2 Billion by 2025
As the global transition to electric vehicles (EVs) continues to gain momentum, the demand for advanced thermal management solutions has reached an all-time high. Among the critical components enabling this shift is the battery cooling plate, a core part of liquid cooling systems that ensures the optimal performance, safety, and longevity of EV battery packs.
● Market Growth Driven by Electrification and Safety Concerns
The global battery cooling plate market is projected to grow to USD 2.2 billion by 2025, with a compound annual growth rate (CAGR) of 12.5% through 2030, reflecting the rapid electrification of the automotive industry and the increasing complexity of battery systems.
According to OICA, global vehicle production reached 93.5 million units in 2023, while EV sales surged to 18.2 million units in 2024, up 24.4% year-over-year. Notably, China alone contributed 12.9 million EV units, marking a staggering 35.7% growth, with a global EV penetration rate exceeding 20%.
● Why Battery Cooling Plates Matter
Lithium-ion batteries perform optimally within a narrow temperature range (25–40°C). Deviations can lead to performance drops, shortened lifespan, or in worst cases, thermal runaway—a chain reaction that can cause catastrophic fires.
High temperatures accelerate battery degradation and risk of ignition.
Low temperatures reduce capacity and charging efficiency.
Cell-to-cell temperature differentials over 5°C severely impact pack-level performance.
Liquid cooling, the dominant battery thermal management strategy, uses cooling plates to extract heat efficiently. Unlike air cooling, which suffers from poor uniformity and low heat exchange efficiency, or phase-change cooling, which remains experimental, liquid cooling offers a high thermal transfer rate and consistent temperature control.
● Cooling Plate Technologies and Structures
Battery cooling plates come in several designs:
Blow-formed plates: Cost-effective, high production efficiency, good thermal performance.
Brazed plates: Offer superior structural integrity and heat dissipation in compact form factors.
Friction stir welded and harp tube styles: Applied based on packaging needs and cooling strategy.
BorgWarner leads innovation in this space. In 2023, it began supplying a major German automaker with extruded aluminum cooling plates for their next-gen EVs. These plates, which snake between cylindrical cells, balance weight, cost, and tolerance compensation—all while delivering compact yet robust thermal management.
● Global Trends and Regional Dynamics
APAC leads the pack in EV production, with over 55 million units manufactured in 2023. Meanwhile, Europe (18.1 million) and the Americas (19.1 million) show strong uptake in both EV sales and advanced component adoption.
Key Drivers:
Government regulations on EV efficiency and safety
Consumer demand for longer-range, fast-charging vehicles
Rising incidents of battery fires highlighting the need for effective thermal safeguards
Challenges:
Complex design requirements due to tight EV battery packaging
Cost pressures amid global competition and metal price fluctuations
Standardization difficulties across various battery architectures
● Outlook: Innovation and Expansion Ahead
As EV adoption accelerates, battery thermal management will remain a focal point of innovation. The growth of solid-state batteries, fast-charging technology, and battery-as-a-service models will further intensify the need for efficient, compact, and scalable cooling solutions.
In tandem, strategic partnerships between OEMs and component suppliers will shape the next phase of product development, emphasizing cost-performance balance, modular designs, and sustainability through recyclable materials and energy-efficient manufacturing.