Automotive Battery Management System market report presents thorough information about the global industry comprising of valuable figures and stats. Moreover, the report contains records starting from the base year (2022) and stretches until the forecast period (2023-2029). This market research report has set a bench-marking example for such a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East & Africa (MEA).
Global automotive battery management system market was valued at USD 5.17 billion in 2021 and is expected to reach USD 13.94 billion by 2029, registering a CAGR of 13.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
The rising demand for hybrid electric and battery electric vehicles is expected to propel the global market for automotive battery management systems to considerable growth over the recent years. The introduction of strict government rules regarding environmental degradation and government incentives in the form of subsidies, grants, and tax rebates to promote the use of eco-friendly forms of transportation have led to an increase in demand for these cars. Consequently, such growth determinants give the market a positive outlook over the forecasted timeline.
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A meticulous study of the competitive landscape of the market has been given in the Automotive Battery Management System document along with the insights of the companies, financial status, trending developments, mergers, acquisitions and SWOT analysis. This market research will give a clear and specific idea to the readers about the overall market to take valuable decisions. The document focuses on leading global industry players providing information such as company profiles, specifications, capacity, cost, revenue and contact information. In-depth analysis of the market segmentation covered in this Automotive Battery Management System market report assists in determining the prevailing market opportunities. This market report also offers comprehensive statistics on important aspects such as growth drivers, challenges and industry prospects.
The automotive battery management system aids in keeping track of a battery's performance and consumption. By regulating the operating area, balancing the battery, and providing protection for the battery, this system further manages rechargeable batteries. It also manages how an electric car's battery is recharged. The market for automotive battery management systems is expanding due to factors including temperature control, data logging, and improving battery longevity.
Some of the major players operating Automotive Battery Management System market are
- Robert Bosch GmbH (Germany)
- Continental AG (Germany)
- Toshiba Corporation (Japan)
- Intel Corporation (U.S.)
- Texas Instruments Incorporated (U.S.)
- NXP Semiconductors (Netherlands)
- Analog Devices, Inc. (U.S.)
- Denso Corporation (Japan)
- Johnson Matthey (U.K.)
- LG Chem (South Korea)
- Midtronics, Inc. (U.S.)
- Sensata Technologies, Inc. (Denmark)
- Midtronics, Inc. (U.S.)
- Microchip Technology Inc. (U.S.)
- Nuvation (U.S.)
Key Market Segments Covered in Automotive Battery Management System Market Industry Research
- Lithium-Ion Based
- Advanced Lead-Acid Based
- Flow Batteries
- Passenger Vehicle
- Commercial Vehicle
- Golf Cart
- Battery IC
- Battery Sensor
- Other Component
- IC Engine Vehicle
- Electric Vehicle
- <100 kWh
- 100-200 kWh
- 200-500 kWh
- >500 kWh
Automotive Battery Management System Market Regional Analysis/Insights
The automotive battery management system market is analyzed and market size insights and trends are provided by country, battery type, vehicle type, connection topology, component, propulsion type, battery capacity, technology and end use as referenced above.
The countries covered in the automotive battery management system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the automotive battery management system market because of the increasing demand of the commercial and passenger vehicle within the region over the forecast period of 2022 to 2029. Moreover, the presence of manufacturing facilities of major automotive manufacturers is further estimated to accelerate the expansion over the forecast period.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to improved infrastructure development in India and China within the region. The increase in battery-electric automotive is also a significant contributor to the regional market expansion.
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How does this Automotive Battery Management System Market Insights Help?
- Automotive Battery Management System Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR
- The Key parameters which are driving this market and restraining its growth
- What all challenges manufacturers will face as well as new opportunities and threats faced by them
- To learn about the market strategies that are being adopted by your competitors and leading organizations
- To Increase insightful analyses of the market and have a comprehensive understanding of the “Automotive Battery Management System Market” and its commercial landscape
- Increasing Usage across Vehicles
The automotive battery management system connects with other drivetrain parts to keep track of the charge level. It aids in cell balance, battery heat protection, and current regulation during charging and is one of the essential components of an electric vehicle's powertrain. Along with protecting the operating of the car, it also seeks to protect the battery. To avoid situations where a battery management system can impair the motion or movement of the vehicles, it is also crucial to identify what control functions should be allocated to it. Therefore, during the coming years, the market is anticipated to witness the development of improved automotive battery management systems due to the increased usage of electric vehicles.
- Growth in Urbanization
The majority of the population has been migrating there in recent years, urbanisation is reaching its pinnacle due to the increasing employment opportunities and rapid industrialisation in urban regions. Additionally, metropolitan passengers are more inclined to support the environmentally friendly and technologically advanced movements. The electric automobile battery management system is one of the best high-tech options due to its compact form. Urbanization is a common phenomenon, and as a result, demand for better travel and transportation infrastructure has significantly increased. The demand for electric vehicles has increased as a result of growing urbanisation and a renewed focus on green mobility.
Furthermore, the factors such as high need for effective electric grid management will accelerate the overall market expansion during the forecast period. Additionally, the rising sales of automotive is anticipated to drive the growth rate of the automotive battery management system market. The adoption and implementation of technologies, such as the IoT, AI, machine learning, and others, will further positively impact the market's growth rate during the forecast period. The expansion of the market is projected to be aided by the rising demand for battery management systems revenue in order to reduce greenhouse gas emissions and the disputed government policy.
- Increasing Trend of Electric Vehicles (EVs)
The increasing trend of electric vehicles is estimated to generate lucrative opportunities for the market, which will further expand the automotive battery management system market's growth rate in the future. During the projection period, the number of electric vehicles is expected to increase dramatically. The International Energy Agency (IEA) projects that by 2030, there will be 145 million electric automobiles, heavy trucks, vans, and buses on the road worldwide based on existing trends and legislation. Thus, it is important to note that the industry players are confident that once the epidemic eases down, this market is poised to grow quickly because of the huge increase in electric car sales that occurred during the pandemic.
- Surging Technological Advancements
Additionally, the surging product launches and other innovations by market players further offer numerous growth opportunities within the market. The introduction and development of battery and charging technology for electric vehicles are in high demand. The market's top manufacturers are creating and introducing a variety of technologically sophisticated battery management systems for battery-operated and hybrid automobiles. For instance, Grinntech, a start-up that specializes in Lithium-ion batteries for electric cars and energy storage systems, introduced IoT-based battery monitoring & control systems for 2-wheelers, 3-wheelers, and tractors/light vehicles in August 2020. As a result, significant prospects for market expansion are being created by technological advancement in automotive battery monitoring & control systems with benefits like decreased complexity, greater battery efficiency, and improved reliability, among others.
- High Cost
The automotive battery management system sector is facing financial constraints in the developing nations due to problems with many of these nations' weak foundations. Import taxes have been consistently higher for parts other than those from emerging regions. The cost of import requirements for systems and components is another annoyance. Thus, during the forecast period, the market for automotive battery management systems is anticipated to be constrained by the high cost of producing battery management systems due to obstacles including port obligations, import levies, and taxes.
- Complications in Battery Structures
The battery packs, main and aux chargers, motor controllers, safety devices, cooling and heating elements, SOC displays, and BMS main control units are just a few examples of the various parts that make up an electric vehicle's battery management system. As a result, market expansion is hampered by battery management systems that are incapable of handling complicated battery structures. Additionally, according to our primary research, technologically deficient battery management systems cannot be combined with the intricate battery structure, severely limiting market expansion. This factor is therefore estimated to be significant challenge for the automotive battery management system market over the forecast period.
This automotive battery management system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive battery management system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
TABLE OF CONTENTS
- Part 01: Executive Summary
- Part 02: Scope of The Report
- Part 03: Research Methodology
- Part 04: Market Landscape
- Part 05: Pipeline Analysis
- Part 06: Market Sizing
- Part 07: Five Forces Analysis
- Part 08: Market Segmentation
- Part 09: Customer Landscape
- Part 10: Regional Landscape
- Part 11: Decision Framework
- Part 12: Drivers and Challenges
- Part 13: Market Trends
- Part 14: Vendor Landscape
- Part 15: Vendor Analysis
- Part 16: Appendix
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Queries Resolved In This Report:
- Which will be the specialties at which Automotive Battery Management System Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set nearness?
- Which will be the foreseen development rates for your own Automotive Battery Management System economy out and out and furthermore for each portion inside?
- Which will be the Automotive Battery Management System application and sorts and estimate joined intently by makers?
- Which will be the dangers which will attack growth?
- The length of the Automotive Battery Management System market opportunity?
- How Automotive Battery Management System Market share advance vacillations their value from various assembling brands?
WHO SHOULD BUY THE AUTOMOTIVE BATTERY MANAGEMENT SYSTEM REPORT?
People looking to enrich the decision-making capability by following points must buy the report:
- Breakdown of market share of the top Automotive Battery Management System industry players
- Evaluations of market share for the regional and country level sectors
- Estimation of Automotive Battery Management System market for the forecast period of all the aforementioned classes, sub classes, and the domestic markets
- Tactical recommendation for the newbies
- Tactical recommendation in primary business industries based on the Automotive Battery Management System market forecast
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