EV Power Electronics Cooling Plates Market is Forecasted to Reach US$ 2.7 Billion in 2031, Says Stratview Research

Detroit, July 14, 2025 (GLOBE NEWSWIRE) --The global EV Power Electronics Cooling Plates Market size was valued at US$ 1.2 billion in 2024 and is projected to reach US$ 2.7 billion by 2031, witnessing a market growth CAGR of 10.7% from 2024 to 2031, according to an analysis by Stratview Research.Stratview Research, a globalmarket research firm,has launched a report on the globalEV power electronics cooling plates market,which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.Click here to get a free sample of the report:https://www.stratviewresearch.com/Request-Sample/4155/ev-power-electronics-cooling-plates-market.html#formMarket StatisticsMarket Size in 2024US$ 1.2 billionMarket Size in 2031US$ 2.7 billionGrowth (CAGR)10.7% during 2024-2031Cumulative Sales Opportunity 2024 to 2031US$ 16 billionLeading Propulsion TypeHEVLeading Vehicle TypeLVLeading Application TypeInverterLeading Material TypeAluminiumLeading IntegrationIntegrated Cooling PlatesLeading RegionAsia-PacificForecast Period2024-2031Trend Period2018-2023Base Year2023Number of Segments Covered6Number of Tables & Graphs100+Country-Level Market Assessment20Segment Insights & Market Share Analysis of the EV Power Electronics Cooling Plates Market:The global EV power electronics cooling plates market is segmented based on propulsiontype, vehicle type, applicationtype, material type, integration type, and region.Based onpropulsiontype–The EV power electronics cooling plates market is segmented into BEV and HEV.HEVs (Hybrid Electric Vehicles) currently represent the larger propulsion type, which demands thermal management for the internal combustion engine and electric components. Their widespread adoption, continuous operation of power electronics, and minimal dependence on charging infrastructure drive strong demand for reliable cooling solutions.BEVs (Battery Electric Vehicles) are experiencing faster global adoption, driven by government policies promoting full electrification. Since BEVs rely entirely on electric powertrains, they generate more heat during charging and discharging than HEVs. This necessitates more advanced and comprehensive thermal management systems to maintain performance, safety, and energy efficiency.Based onvehicletype–The market is segmented into LV and M&HCV.Passenger cars constitute the largest segment of the automotive industry,amplifying the impact of electrification within the LV (light vehicle) category. LVs have packed a dense array of power electronics in smaller spaces, making advanced cooling systems essential for safe and reliable operation. Efficient heat dissipation becomes critical in these vehicles to maintain performance without compromising space or energy efficiency.M&HCVs (Medium and heavy Commercial Vehicles) are likely to remain the smaller vehicle type inthe marketprimarily due to their lower production volumes, slower electrification rates, and limited adoption compared to light vehicles.Based onapplicationtype–The market is segmented into inverter, converter, and on-board charger.Inverter is expected to remain the widely used application type in the market during the forecast period.Inverters play a central role in EVs by converting DC from the battery into AC for the motor, generating significant heat. As every electric vehicle depends on this conversion, inverters consistently require cooling plates to ensure performance, efficiency, and system reliability.The converter is anticipated to remain the second-largest application type in the market during the forecast period, driven by the increasing complexity of EV electrical architecture, growing adoption of multi-voltage systems, and rising demand for efficient thermal management in high-power charging and DC-DC conversion applications.Based onmaterialtype–The market is segmented into copper and aluminium.Aluminium's dominance is driven by its excellent thermal conductivity, lightweight nature, cost-effectiveness, and ease of manufacturing. These properties make aluminium especially well-suited for electric vehicle applications, where efficient heat dissipation, weight reduction, and scalability are critical for performance, energy efficiency, and mass production.Based onintegrationtype–The market is segmented into standalone and integrated cooling plates.Integrated cooling plates are expected to gain a larger share of the EV power electronics cooling plates market, as they combine thermal management for multiple components, such as inverters, converters, and onboard chargers, into a single compact unit. This integration reduces space, weight, and system complexity while enhancing thermal efficiency and cutting manufacturing and assembly costs, all of which are critical in EV design.To know the most attractive segments, click here for a free sample of the report:https://www.stratviewresearch.com/Request-Sample/4155/ev-power-electronics-cooling-plates-market.html#formWhich region shows the most promising growth forecast and opportunity?The analysis suggests thatAsia-Pacific is expected to remain the largest market for EV power electronics cooling plates during the forecast period.This growth outlook is mainly attributed to the following:Asia-Pacific is expected to dominate the market due to the high concentration of EV production and government initiatives supporting electrification. Countries like China, Japan, and South Korea are home to leading EV manufacturers (BYD, Nio, XPeng, Toyota, and Hyundai), driving the demand for advanced power electronics cooling solutions.Additionally, the region benefits from cost-effective manufacturing, a well-established supply chain, and government subsidies, making it the largest market for EV components, including cooling plates.Likewise,North America is witnessing the fastest growth in the marketdue to robust EV expansion and increasing demand for efficient thermal solutions. This growth is further fueled by strong government incentives for electrification, rising investments in EV infrastructure, and the presence of major automotive and power electronics manufacturers.EV Power Electronics Cooling Plates Market Drivers:Some of the key drivers listed in the report are given below.Rising adoption of electric vehicles (EVs).The rising integration of high-performance power electronics such as inverters, converters, and onboard chargers.The growing need for efficient thermal management solutions to ensure system reliability and efficiency.Competitive Landscape: Top Companies in the EV Power Electronics Cooling Plates Market:The market is moderately fragmented, with over 20 players. Key leading players are supplying both battery cooling plates and power electronics cooling plates. Valeo, Mahle GmbH, and Dana Incorporated are the leading players in both cooling plate types. BYD is one of the key OEMs that manufactures both battery cooling plates and power electronics cooling plates in-house. Stratview Research has identified the following companies as the top market players:BYDMahle GmbHValeo GroupDana IncorporatedBorgWarner Inc.Robert Bosch GmbHWhat Deliverables Will You Get in This Report?Key questions this report answersRelevant contents in the reportHow big is the sales opportunity?In-depth analysis of the EV Power Electronics Cooling Plates MarketHow lucrative is the future?Market forecast and trend data, and emerging trendsWhich regions offer the best sales opportunities?Global, regional, and country-level historical data and forecastsWhich are the most attractive market segments?Market segment analysis and forecastWho are the top players and their market positioning?Competitive landscape analysis, Market share analysisHow complex is the business environment?Porter's five forces analysis, PEST analysis, Life cycle analysisWhat are the factors affecting the market?Drivers & challengesWill I get the information on my specific requirements?10% free customizationFor Customization or Any Other Queries, Get in Touch with Our Industry Experts at -sales@stratviewresearch.comRelated Reports:EV On-Board Charger MarketEV DC-DC Converter MarketAlso Read Our Newly Published Reports on GlobeNewswire:EV Fuse MarketAutomotive Wire Harness MarketAbout us –Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.Are you looking for any specific data customized to your objectives? We are just a mail away.Stratview Research Visit :www.stratviewresearch.comMail Us :sales@stratviewresearch.comCall Us : +1-313-307-4176Loading...Loading...Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. . .Posted In:Analyst RatingsPress Releases