Automotive Battery Management System Market Share, Size

Automotive Battery Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Vehicle Type (Bus, Trucks, and Off-Highway Vehicle)

  • Report Code : TIPAT100001340
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 197
Buy Now

The automotive battery management system market is expected to grow from US$ 61.03 million in 2022; it is estimated to grow at a CAGR of 17.6% from 2022 to 2028.

A battery management system manages batteries used in high-voltage hybrid and electric vehicles. Electric vehicle manufacturers and battery pack manufacturers integrate a battery management system into Li-ion batteries to protect the battery pack. The overall battery system in an electric vehicle is a combination of multiple components such as battery modules, sensors, controllers, thermal management systems, and battery management systems. With the rise in 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 2022 to 2028. This, in turn, will fuel the automotive battery management system market growth.

The global electric vehicle and battery pack industry is characterized by the presence of a few very well-known and financially strong companies such as Mitsubishi, Nissan, and Tesla. Owing to this, the bargaining power of buyers in the automotive battery management system market size is quite high. Owing to the continuous research and development in the electric vehicles coupled with fast automotive battery management system market growth, the bargaining power of buyers is estimated to remain high during 2019–2027. The major companies in the automotive battery management system market size use different strategies while planning battery systems for their vehicles. Continuous advancements in the technology sector are anticipated to put pressure on battery management system providers to adapt the changes to sustain their market position. Owing to this fact, buyers also have a high tendency to switch BMS providers over a period of time depending on their specific requirements and technology portfolio of BMS providers.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Automotive Battery Management System Market: Strategic Insights

Automotive Battery Management System Market

  • CAGR (2022 - 2028)
    17.6%
  • Market Size 2022
    US$ 61.03 Million
  • Market Size 2028
    US$ 161.84 Million

Market Dynamics

GROWTH DRIVERS
  • XXXXXXX
  • XXXXXXX
  • XXXXXXX
FUTURE TRENDS
  • XXXXXXX
  • XXXXXXX
  • XXXXXXX
OPPORTUNITIES
  • XXXXXXX
  • XXXXXXX
  • XXXXXXX

Key Players

  • CONTINENTAL AG
  • DANA LIMITED
  • GENTHERM
  • HANON SYSTEMS
  • MAHLE GMBH
  • NXP SEMICONDUCTORS
  • RENESAS ELECTRONICS CORPORATION
  • ROBERT BOSCH GMBH
  • VALEO

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Vehicle Type
  • Bus
  • Trucks
  • Off-Highway Vehicle
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Automotive Battery Management System Market share

 

The COVID-19 outbreak dramatically impacted the global economy during its peak in 2020, hampering business activities in manufacturing industries. Before the outbreak, the automotive battery management system market share was experiencing substantial growth owing to increased sales of electric vehicles, surged disposable income, and easy availability of credit and financing. Further, significant investment initiatives in developing electric vehicles propel the demand for automotive battery management systems. As per the International Council on Clean Transportation, global EV sales reached a record-high of 6.9 million in 2021, a 107% increase from 2020. However, the onset of the COVID-19 pandemic slowed down the investment in and production of EVs. During the initial days of the pandemic, the crisis significantly restricted all business deals, collaborations, and partnerships that disrupted the automotive battery management system market. The emergence of the pandemic hampered the sales of vehicles in February 2020; furthermore, the sales dropped by 47% in the US and 80% in Europe by April. As per a report by Statista, global car sales dropped to 63.8 million in 2020 and registered a slow recovery in 2021 with 66 million sales.

Market Insight – Automotive Battery Management System Market

Increasing Sales of EVs and Expansion of EV Infrastructure       

Electric vehicle (EV) sales are growing at a fast pace owing to increasing concerns about environmental protection and government policies favoring the adoption of low-emission and zero-emission vehicles. Subsidies and tax rebates offered by governments encourage manufacturers to scale up their processes. Per the Global Electric Vehicle Outlook, the sales of electric cars, including fully electric and plug-in hybrid vehicles, reached 6.6 million units in 2021. In the same year, sales in China surged to reach 3.3 million, accounting for about half of the global sales. Furthermore, EV sales grew by 65% in Europe to reach 2.3 million units, while sales in the US doubled to 630,000 units in 2021. Thus, an increase in investments in charging infrastructure and a rise in the number of favorable government policies are propelling battery manufacturing scales, thereby bolstering the demand for automotive battery management system market.

Vehicle Type Based Insights

Based on vehicle type, the automotive battery management system market is segmented into bus, trucks, and off-highway vehicle. In 2022, the bus segment accounted for the largest share of the automotive battery management system market owing to the increasing adoption of batteries in buses for mitigating carbon emissions. Moreover, the trucks segment is projected to register the highest CAGR during the forecast period. The demand for battery management systems is significantly increasing by the electric bus manufacturers owing to growing initiatives for optimal battery performance and monitoring of battery pack temperature. Additionally, the need for electric school buses is also growing in different countries to reduce carbonization, which is also enabling the electric school bus manufacturers to scale up their production lines. Several governments of different countries are adopting green technology buses, which is fueling the demand for electric coach buses, thus, bolstering the growth of the automotive battery management system market.

Automotive Battery Management System Market Report Scope

Report Attribute Details
Market size in 2022 US$ 61.03 Million
Market Size by 2028 US$ 161.84 Million
Global CAGR (2022 - 2028) 17.6%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Vehicle Type
  • Bus
  • Trucks
  • Off-Highway Vehicle
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • CONTINENTAL AG
  • DANA LIMITED
  • GENTHERM
  • HANON SYSTEMS
  • MAHLE GMBH
  • NXP SEMICONDUCTORS
  • RENESAS ELECTRONICS CORPORATION
  • ROBERT BOSCH GMBH
  • VALEO
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Players operating in the automotive battery management system market are mainly focused on the development of advanced and efficient products.

    • In August 2021, Varta, a battery expert, and Continental Engineering Services (CES), a provider of development and production services, announced collaboration. A replaceable 48-volt battery pack for electrically driven two-wheelers with a power of 10 kW and more has been collaboratively developed by the two partners as a part of a first pilot project.
    • In June 2021, Carrar, an Israeli company that creates superior thermal management systems for the electric mobility sector, announced that Gentherm, a market leader and creator of cutting-edge thermal management solutions, is the lead investor in a Seed round of financing.

    The automotive battery management system market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Rest of World. In 2022, Asia Pacific led the market with a substantial revenue share, followed by Europe. Further, Asia Pacific is expected to register the highest CAGR in the market from 2022 to 2028.

    Continental AG; Dana Limited; GENTHERM; Hanon Systems; Mahle GmbH; NXP Semiconductors; Renesas Electronics Corporation; Robert Bosch GmbH; Valeo; and Marelli Holdings Co., Ltd. are among the key players operating in the automotive battery management system market. The market report provides detailed market insights, which helps the key players strategize the growth in coming years.

    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Vehicle Type

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Canada, China, France, Germany, India, Japan, MEA, Mexico, Netherlands, SAM, South Korea, United Kingdom, United States

    Frequently Asked Questions


    What are the driving factors impacting the Automotive Battery Management System market?

    Increasing Sales of EVs and Expansion of EV Infrastructure driving the need for Automotive Battery Management System market. Electric vehicle (EV) sales are growing at a fast pace owing to increasing concerns about environmental protection and government policies favoring the adoption of low-emission and zero-emission vehicles. Subsidies and tax rebates offered by governments encourage manufacturers to scale up their processes.

    What are the future trends for Automotive Battery Management System market?

    Wireless Automotive Battery Management System is propelling the market growth. A large amount of wiring goes into an EV to connect individual cells in a battery pack, and these wires are liable to safety failures. Wireless connectivity results in high reliability, reduced costs, and decreased weight in large multicell battery packs. Wireless connections are also allowing EV manufacturers to experiment with the placement of flexible battery modules and the installation of additional sensors in the place of wires. Wireless technologies such as Zigbee and point-to-point wireless topology are being used to enable wireless battery management systems.

    Which is the fastest growing regional market?

    Asia Pacific is the fastest growing regional market, followed by North America.

    Which countries are registering a high growth rate during the forecast period?

    Mexico and India are expected to register high growth rates during the forecast period.

    Which are the key players holding the major market share of Automotive Battery Management System market?

    The key players, holding majority shares, in Automotive Battery Management System market includes Continental AG; Dana Limited; GENTHERM; Hanon Systems; and Mahle GmbH.

    Which country is holding the major market share of Automotive Battery Management System market?

    The US held the largest market share in 2022, followed by China.

    What is the incremental growth of the Automotive Battery Management System market during the forecast period?

    The incremental growth, expected to be recorded for the Automotive Battery Management System market during the forecast period, is US$ 100.81 million.

    What is the estimated global market size for the Automotive Battery Management System market in 2022?

    The global Automotive Battery Management System market was estimated to be US$ 61.03 million in 2022 and is expected to grow at a CAGR of 17.6%, during the forecast period 2022 - 2028.

    The List of Companies - Automotive Battery Management System Market

    1. CONTINENTAL AG
    2. DANA LIMITED
    3. GENTHERM
    4. HANON SYSTEMS
    5. MAHLE GMBH
    6. NXP SEMICONDUCTORS
    7. RENESAS ELECTRONICS CORPORATION
    8. ROBERT BOSCH GMBH
    9. VALEO
    10. MARELLI HOLDINGS CO., LTD

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

    Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

    Trends and growth analysis reports related to Automotive Battery Management System Market