Automotive Battery Management System Market to be worth US$

DUBAI, United Arab Emirates, March 14, 2022 (GLOBE NEWSWIRE) — According to a new research report published by Future Market Insights (FMI), the Automotive Battery Management System Market is estimated to reach US$ 15.31 Bn by the end of 2029. In the near future, electric vehicles will dominate the clean vehicle market, and necessitate demand for revolutionary battery management systems. Steadily growing demand for battery management systems in e-bikes as well as electric cars will squarely surge market growth.

Automotive Battery Management System Market Size (2022) US$ 3.05 Bn
Market Revenue Estimation (2029) US$ 15.31 Bn
Global Market Growth Rate (2022-2029) 25.9% CAGR
Japan Market Share 23.6%  

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Key Takeaways of Automotive Battery Management System Market Study

  • Consumer demand across the globe is beginning to bend in favor of electric vehicles, and has strong disruption potential with governments providing purchasing incentives and subsidiaries.
  • With the dawn of electro-mobility and the resulting increase in EV production, automakers are offering tailored electric vehicles with modification in battery management systems.
  • APEJ is anticipated to remain the fastest-growing region in the automotive battery management system market during the forecast years, owing to several countries encouraging the usage of EVs. China leads the global fleet of electric vehicles.
  • Hybrid electric vehicles hold more than two-third of the global EV fleet. Increasing sales of HEVs are foreseen to fuel the demand for battery management systems in the future.
  • Electric vehicle fleet is significantly low as compared to ICE vehicles. As a result, the OEM sales channel is projected to retain its prominence throughout the forecast period.
  • Although centralized BMS account for a lion’s share in the global market, modular BMS are expected to witness high growth due to its superior functional benefits over its counterparts.

Automotive Battery Management System Market: Competition Overview
The global automotive battery management system market is moderately consolidated, with a number of global as well as regional players operating in it. Analog Devices, Inc., Continental AG, Johnson Matthey Plc, and Robert Bosch GmbH are identified as prominent players in the global automotive battery management system market.

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Scope of the Report

Attribute Details
Forecast Period 2022-2029
Historical Data Available for 2015-2021
Market Analysis Units for Volume, US$ Mn for Value
Key Regions Covered • North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa (MEA)
Key Countries Covered • United States
• Canada
• Brazil
• Mexico
• Germany
• U.K.
• France
• Spain
• Italy
• China
• Japan
• South Korea
• India
• Indonesia
• Malaysia
• Singapore
• Australia
• New Zealand
• Turkey
• South Africa
• and GCC Countries
Key Market Segments Covered • Vehicle Type
• Connection Topology
• Sales Channel
• Region
Key Companies Profiled • Robert Bosch GmbH
• Johnson Matthey Plc.
• Continental AG
• Toshiba Corporation
• NXP Semiconductors NV
• Analog Devices Inc.
• Renesas Electronics Corporation
• Texas Instruments Inc.
• LG Chem Ltd.
• Intel Corporation
• AVL LIST GmbH
• Lithium Balance A/S
• Midtronics Inc.
• Preh GmbH
• HORIBA MIRA Ltd.
Pricing Available upon Request

Global Market to Grow in Parallel with Electric Vehicle Fleet

The global market for automotive battery management systems is estimated to witness considerably high growth during the forecast period. Sales of automotive battery management systems directly depend on automotive production as well as electric vehicle fleet. Regions such as APEJ and Japan, having relatively higher electric vehicle fleets, collectively account for more than 50% of the overall market share.

“Asia to Be Most Lucrative Regional Market for Automotive Battery Management System Manufacturers”

Detailed assessment of market metrics across regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA) have been discussed in this FMI market survey.

Demand for automotive battery management systems in North America currently accounts for a market share of 17.4%, and is expected to see a good hike over the forecast period. Increasing preference for electric vehicles and the presence of key automobile manufacturers such as General Motors and Tesla are expected to majorly boost the sales of automotive BMS in this region.

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Automotive battery management system providers are investing in the research & development of new innovative intelligent battery management systems to provide better solutions to their customers.

In March 2022, Aston Martin and Britishvolt announced a collaboration to develop next-generation battery technology for high-performance cars. This is part of Aston Martin’s sustainability efforts to launch an electric vehicle, and this team-up will focus on the development of new battery modules and automotive BMS.

Explore FMI’s Extensive ongoing Coverage on Automotive Domain 

Two-wheeler Battery Market – A battery is a group of electric cells that can produce a direct current by converting chemical energy into electrical energy. The battery in a two-wheeler serves various purposes.

Aircraft Battery Market – The global aviation industry is looking forward towards increasing development of robust and high density aircraft battery that would cater to the airplane battery pack power requirements.

Automotive Start-Stop Battery Market – Automotive start-stop battery is a kind of rechargeable battery that is working on a start-stop mechanism. By the principle of operation, an Automotive start-stop battery shut offs the engine automatically when the vehicle comes to a halt.

Electric Vehicle Battery Conditioners Market – Electric Vehicle Battery Conditioners are crucial part of battery charging and discharging management system in electric vehicles. The main function of Electric Vehicle Battery Conditioners is to sense the operating temperature of battery through sensor and control the temperature of battery to enhance the operating life of battery as well as maintain the level of filled fluid.

Electronic Power Steering Market – The automotive industry has gone through many phases of improvements in design, power and efficiency in the last few decades. The technology has brought automobiles to perform in any terrains, which were earlier meant only for smooth roads.

Aircraft Fluid Power Components Market – Aircraft fluid power is the technology that deals with the control, generation and transmission of forces and movements of mechanical systems with the use of pressurized fluids in a confined system.

Automotive Power Steering Cooler Market – The function of power steering cooler is to remove the extra heat generated in the steering system due to high steering turning load or frequent usages of steering. In racing car the steering uses frequently, therefore, the steering system got heated, this cooler provides cooling to the steering system and enhance the overall efficiency of the vehicles.

Automotive on board AC-DC power inverters Market – Automotive on board AC-DC power inverters are an electronic devices used to convert battery’s DC power supply into alternating current (AC) to operate electronic devices such as infotainment system, mobile phone charger and others.

Electric Power Steering Motors Market – In the past few decades, the automotive industry has undergone several phases of improvements and modifications. During the past few years, auto manufacturers have been increasingly integrating electrical and electronics in their vehicles.

Ambulance Power Inverter Market – The basic function of a power inverter is to convert the direct current (DC) stored in batteries into the standard household alternating current (AC). Power inverter plays an important role in a specialty vehicles, such as ambulances, concession trucks, military trucks and others.

About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Report:https://www.futuremarketinsights.com/reports/automotive-battery-management-system-market

https://www.globenewswire.com/news-release/2022/03/14/2402281/0/en/Automotive-Battery-Management-System-Market-to-be-worth-US-15-31-Billion-by-the-year-2029-Comprehensive-Research-Report-by-FMI.html

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