Report : Automotive Battery Management System Market to 2027 - Global Analysis and Forecasts by Vehicle Type (Bus, Truck, Off-highway Vehicle)
The overall battery system in an electric vehicle is a combination of multiple components such as battery module, sensors, controllers, thermal management systems, and battery management systems. The designs and specifications of these battery systems vary vastly from vehicle to vehicle. A battery management system collects data from various systems and based on this data, the individual cells are operated and balanced effectively to ensure safe operations. In general, a battery management system comprises of battery management controller, the cell supervising circuit, and high voltage sensor device. In hybrid, electric, and plug-in vehicles, battery management systems offer scalable control module for batteries. These systems ensure functional safety and integration of various software modules. With growing concerns regarding environmental protection and positive initiatives taken by governments to reduce emissions, the demand for electric and hybrid vehicles is anticipated to grow at an impressive pace during the forecast period of 2019 to 2027. The increasing adoption of electric vehicles will have a direct impact on the demand of battery management systems. Being a crucial part of an electric vehicle’s battery system, the market growth of these systems is anticipated to see an unprecedented growth over the course of next few years.
With growing innovations in the electric vehicle industry, battery management systems are also seeing an upward trend in technology enhancements and advanced features. One such trend is wireless battery management systems which help in reducing the complexities related to wiring methods that are currently being used in multi-cell battery packs. Hence, the growing demand for electric vehicles and increasing technology advancements in the battery management systems are some of the major factors that are anticipated to drive the growth of global automotive battery management system market during the forecast period of 2019 to 2027.
The automotive battery management system market is categorized based on vehicle type and geography. On the basis of vehicle type which is sub segmented trucks, buses, and off-highway vehicles. Trucks are further bifurcated into light commercial vehicle (LCV) and medium & heavy commercial vehicle (M&HCV). Buses are sub segmented into school bus, transit bus, mini bus, and coach/motor coach. Off-highway vehicles are fragmented into dump trucks, loader, excavator, tractors, and others. The bus segment dominated the automotive battery management system market, and the same is anticipated to continue dominating the market throughout the forecast period. Geographically, the automotive battery management system market is classified based on North America, Europe, Asia Pacific, and Rest of World.
The automotive battery management system market ecosystem consists of well-established players as well as emerging companies. Some of the key manufacturers in the automotive battery management system market include; Magneti Marelli S.p.A, Continental AG, Dana Incorporated, Gentherm Incorporated, Hanon Systems, Renesas Electronics Corporation, MAHLE GmBH, Robert Bosch GmBH, NXP Semiconductors N.V., and Valeo SA, among others. Several other manufacturers are also functioning in the industry, and are contributing substantial revenues year on year, thereby, driving the market growth.
Automotive Battery Management System Market - Geographic Breakdown, 2018
The report segments the global automotive battery management system market as follows:
Global Automotive Battery Management System Market – By Vehicle Type
Global Automotive Battery Management System Market – By Geography
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