Battery Cooling Plates Industry Procurement Outlook
Battery cooling plates provide a mechanical and thermal interface to regulate the temperature of the battery pack. A heated/cooled coolant flows through the cooling surface and keeps the temperature of the battery units within optimum limits. The overall process also helps in extending the life of the battery. While these can be used in any and every segment which require thermal regulation of batteries, cooling plates have seen significant uptake in the automotive industry, especially with the rise of electric and hybrid vehicles.
Battery Cooling Plates Industry Demand Outlook
The global battery cooling plates market was valued at USD 735.8 million in 2020 and is expected to grow at a steady CAGR of 28.1% to reach USD 3,361.1 million by 2025. The market can be segregated by the type of material used to make the battery cooling plates, that is aluminum and steel. Aluminum plates have been gaining significant traction over the last few years with most of the new vehicles being manufactured post 2017 or 2018 having cooling plates made of aluminum.
The battery cooling plates mostly customized for a vehicle type with the OEMs having high level on involvement during the design and conceptualization of the cooling plates. As such, value based pricing is one of the most commonly used pricing strategies used across the industry.
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Battery Cooling Plates Industry Cost Drivers
Cooling plates are still in their early stages of development. Several companies are researching to broaden the scope of usage of a cooling plate or to manufacture the plates using materials that make thermal management better at the same time using lightweight materials to do so. All these will culminate in better quality of cooling plates helping the market grow from a value-driven perspective.
Add-on Services provided by Grand View Research Pipeline:
Should Cost Analysis – A should cost model is an all-important technique for deriving and forecasting the actual cost of a product/service over the forecasted period. It serves as a competitive edge for supplier negotiations by determining the actual price for the cost components. The outcome helps procurement leaders to understand detailed fact-based cost drivers for the category.
Rate Benchmarking – Every organization and its procurement team wants to negotiate the best deal while procuring a set of products or services. Rate benchmarking uses price/cost comparison of more than one set of products/services to analyze the most efficient combination that will help the procurement team to get the optimum rate.
Salary Benchmarking – Labor is one of the key cost components incurred while offering a product or service. Understanding the pricing structure of salary is important for organizations in selecting the appropriate supplier and to build a good negotiation strategy. It is also an important factor in determining whether the category under focus should be outsourced or built in-house.
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Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
Market Intelligence involving – market size and forecast, growth factors, and driving trends
Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
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