Market Snapshot:
An automotive battery is a rechargeable device that provides electrical energy to start the engine and power various electrical systems within a vehicle. It's a critical component in the functioning of both traditional internal combustion engine vehicles and electric or hybrid vehicles. The automotive battery industry is undergoing a significant transformation due to several influential trends and market forces. The rise of electric vehicles (EVs) and mounting environmental concerns have led to an increasing demand for advanced lithium-ion batteries with superior energy density to power these vehicles. This surge in EV adoption has spurred innovation and substantial investments in battery technology, aiming to enhance energy density, lower costs, and refine charging infrastructure. Additionally, the integration of intelligent and interconnected features within automotive battery management systems (BMS) has gained momentum, enabling efficient monitoring, optimization, and extended battery lifespan.
Highlights from Automotive Battery Management System Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Value (2028) | USD 26460.0 Million |
Unit | Value (USD Million) |
CAGR | 15.2% |
The key Vendors profiled in the report are Robe Eberspächer (Germany),, Sensata Technologies, Inc. (United States),, AVL (Austria),, LG Energy Solution (South Korea),, Ficosa International SA (Spain), Robert Bosch GmbH (United States), Toshiba Corporation (Japan), Intel Corporation (United States.), Texas Instruments Incorporated (United States.) and NXP Semiconductors (Netherlands). Additionally, other players that are part of this comprehensive study are LG Chem (South Korea), Midtronics, Inc. (United States.), Sensata Technologies, Inc. (Denmark), Midtronics, Inc. (United States.), Microchip Technology Inc. (United States.) and Nuvation (United States.).
Geographic Breakdown and Segment Analysis
The Global Automotive Battery Management System market presents a comprehensive analysis of the Automotive Battery Management System market by product type (Centralised, Distributed and Modular), by end-user/application (Electric Vehicles, Golf Carts, E-Bikes, passenger vehicles, Commercial vehicles and Others Vehicles), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Automotive Battery Management System industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Automotive Battery Management System market
Analyst at AMA have segmented the market study of Global Automotive Battery Management System market by Type, Application and Region.
Influencing Trend:
Development of high-performance and cost-effective BMS solutions and Integration of BMS with smart technology for remote monitoring and diagnostics
Market Growth Drivers:
Growing focus on energy efficiency and sustainable transportation and Government initiatives and regulations favoring emission reduction and promoting electric mobility
Challenges:
Balancing performance and cost-effectiveness in BMS development and Ensuring compatibility and standardization across different vehicle platforms
Restraints:
High initial investment and manufacturing costs for advanced BMS technologies and Limited standardization and interoperability among different BMS systems
Opportunities:
Growing market for electric and autonomous vehicles in emerging economies and Increasing demand for energy storage systems in renewable energy applications
Market Developments Activities:
In April 2022 Infineon Technologies AG Introduced a new family battery management ICs,include TLE9012DQU and TLE9015DQU .These ICs are optimised solution of battery cell monitoring and balancing.
In May 2023,Sensata Technologies, announced the launch of the c-BMS24X a new compact battery management system that address the latest market system for industrial management system low voltage electrical vehicles and energy storage system.
Key Target Audience
Automotive Manufacturers, Battery Manufacturers, Technology Providers, Investors and Stakeholders, Government and Regulatory Bodies and Others