While EVs are the primary driver of the battery cooling plate market, emerging applications such as energy storage systems (ESS), eVTOL aircraft, and electric commercial vehicles are opening new growth avenues.

According to Stratview Research, the EV battery cooling plates market size was USD 1.4 billion in 2024 and is likely to grow at a strong CAGR of 11.7% in the long run to reach USD 3.2 billion in 2031.

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Drivers:

• Energy Storage Systems: Grid-scale batteries also require efficient thermal management for performance and safety.
• Urban Air Mobility (UAM): eVTOL aircraft demand lightweight, high-performance cooling systems.
• Electric Trucks and Buses: Higher battery loads call for robust, large-area cooling plates.

Challenges:

• Application-Specific Requirements: Each new segment brings unique design and regulatory demands.
• Product Customization Costs: Small-batch runs increase per-unit cost.
• Testing and Validation Complexity: Diverse operating conditions increase testing burdens.

Opportunities:

• Dual-Purpose Plates for Mobility + Storage
• Thermal Management as a Service
• Plug-and-Play Modules for Emerging EV Startups

Trends:

• Cross-industry collaborations (e.g., aerospace + automotive)
• Flexible cooling plates for cylindrical and prismatic batteries
• Modular cooling kits for ESS providers

Conclusion:

EVs may have led the way, but the market for battery cooling plates is diversifying fast. As electrification spreads across industries, adaptable thermal management solutions will be in high demand.