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"The Global Automotive Battery Management System Market size is estimated to grow from approximately US$ 5.1 Billion in 2019 to US$ 25.32 Billion by 2028, at a CAGR of 19.4%.”
Electric vehicles are expected to play an important role in the next era of the Automobile industry. Automotive battery management systems are used in Electric vehicles to maintain optimum health of rechargeable vehicles. Automotive battery management system manages the batteries of vehicles by monitoring the state of the vehicle battery, exercising the control on load environment and consequently balances the charging. The growth of the automotive battery management system is largely supported by the increasing demand for electric bikes as well as electric vehicles. Automotive battery management systems helps in increasing the life of the battery of the vehicle, manage battery state by optimizing battery health, prevent damage to the battery owing to voltage fluctuations and overcharging and provides real-time updates on battery health.
The market for Lithium-ion battery segment is expected to grow at the highest rate during the forecast period.
The lithium-ion batteries are gaining traction due to its unique features such as lower cost and higher power density. Lithium-Ion battery segment is expected to hold a maximum share of XX% during the forecast period. Prior Lead-acid batteries were significantly used, which did not have enough storage capacity per unit of mass.
In any case, Lithium-ion batteries are difficult to manage due to its non-linear charge or discharge curve. The battery management system thus assists with notification of battery shut down or safety measure action. The Lithium-ion battery is significantly used in hybrid electric vehicles. The hybrid electric vehicle category is expected to reach an estimate of more than US$ 2.8 Billion by the end of the year of assessment (2028).
Based on Topology, the Modular Topology segment to witness the highest CAGR during the forecast period.
The Modular topology segment of the Battery management system market is expected to grow at the highest rate in the forecast period. Modular topology is also suitable for a variety of applications, for example in energy storage systems, industrial UPS, medical mobility vehicles, electric vehicle parts, and drones. Most manufacturers prefer modular topology as it offers significant computational power and is also safe as it does not require extensive wire harnesses. In addition, the increasing demand from these applications for modular topology is expected to drive the market at the highest rate between 2020 and 2028.
High demand for passenger cars is expected to largely contribute to the growth of the electric vehicle segment.
Passenger cars reporting the highest sales volume retained the largest market share in 2019. Passenger cars are expected to hold a maximum share of XX% during the forecast period. Furthermore, in the coming years, the segment is expected to continue to lead the market, as a result, increasing urbanization and rising disposable income people in developing world economies. Passenger cars account for the largest production and shipment of the total global automotive production. Electric vehicles are further categorized into commercial vehicles and passenger vehicles. Passenger cars are of different types, namely, Battery Electric Vehicle (BEVs), Hybrid Electric Vehicle (HEVs) and Plug-In Hybrid Electric Vehicle (PHEVs). The segment of passenger cars is projected to expand at a higher rate in the coming years and is expected to reflect a high market owing to growing sales of automotive battery management systems.
APAC to dominate the Battery Management System market during the forecast period.
APAC region is expected to hold a maximum share of xx% during the forecast period. Most Asian countries’ Government plans to put an end to gasoline and diesel vehicle production and sales in the coming years. In 2017, APAC, led by China, posted the highest volume of sales on the market for automotive battery management. It is expected that the region will continue to hold the largest market share in the coming years, mainly due to Chinese government policies and initiatives in the favor of automotive production, particularly electric vehicles. This move is expected to improve the region’s electric vehicle industry, supporting market growth over the forecast period.
Competitive Landscape Analysis: Automotive Battery Management System
There is a range of alliances, collaborations, and mergers and acquisitions among major players on the global automotive battery management system market. In addition, several suppliers of automotive electronics have added battery management systems to their company as one of the verticals.
It is also expected that pressure on the market will increase in the near future. The sector consists mainly of supplier parts and manufacturers of battery management systems. The key players in the Automotive Battery Management system market are Robert Bosch, Toshiba Corporation, NXP Semiconductors NV, Renesas Electronics Corporation, LG Chem Ltd., Midtronics Inc, Continental AG, Intel Corporation, Analog Devices Inc, are few of the key players of Automotive battery management system.
Global Battery Management System Segmentation:
By Battery Type:
- Nickel Based
- Lithium-ion Based
- Advanced Lead Acid Based
- Flow Batteries
By Vehicle Type:
- Electric Vehicle
- Golf Cart
By Connection Topology:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa