Automotive Battery Management System Market ‚Äö Segmented by Components (Battery IC, Battery Sensor, Others (electronics and materials used in BMS)), Propulsion Type (IC Engine Vehicle, EV), Vehicle Type (Passenger Car, Commercial Car), and Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Automotive Battery Management System Market

The global automotive battery management system market is expected to grow at a CAGR of 21.3% during the forecast period, 2018-2023, due to the increase in the demand for electric vehicles.

With growing electrification in vehicles, the need for a safe and optimum use of the energy stored in a vehicle battery pack has increased significantly among the automakers. Thus, battery management system or battery control unit has become one of essential power electronic modules of the automobiles that monitors and controls the charging and discharging processes of the battery pack and thereby enhances the battery lifespan by avoiding any damage risk due to overcharging and over-discharging situations.

Increasing Demand for Intelligent Battery Management System

Features like start/stop, electric power steering, and electric braking systems have increased the power load on the battery. Therefore, prioritizing all these electrical loads on a scale from comfort to safety level has been a major issue in a vehicle electric system. Thus, the need for intelligent battery management system (IBMS) has been gaining attention among the automakers and has been widely adopted across all the regions. IBMS consists of advanced electronics, such as battery sensors, that measures the state of charge (SOC), state of health (SOH) and temperature across a cell which is connected in series and parallel array in a vehicle battery pack. All the three measurements by IBMS are taken simultaneously to ensure accurate measurements, even during rapidly changing conditions of the vehicle. The usage of IBMS aids in shutting down these vehicle electric systems in logical order and warning the drivers about the impending battery problem to ultimately keep them safe from battery explosions. The prominent suppliers of intelligent battery sensor include Continental AG, Hella, and Bosch among others.

Growing Demand for Electric Vehicles

Apart from conventional IC engine vehicles, the demand for battery management system and electric vehicles is anticipated to further boost the growth of battery management system market. With the employment of stringent emission regulations across every region, the electric vehicles demand is likely to increase further during the forecast period. The global electric vehicles sales have significantly increased to 56% during 2016-2017. The battery is the primary source of power for electric vehicles is likely to drive the demand for efficient and advanced battery management system. Asia-Pacific has covered a major share of the battery management system market in 2017. Since Europe has registered a faster growth rate (due to its rapid increase of electric vehicle sales in 2017), it anticipates to continue so during the forecast period with the EU government strictly monitoring the emission standards and planning to impose a ban on manufacturing IC engine vehicles by 2025 in countries like Norway and Netherlands.

Source: IEA/ Mordor Intelligence Analysis

Key Developments in the Automotive Battery Management System Market

• Mar 2018: Chinese automotive battery manufacturer CITC (Sichuan Chengfei Integration Technology) and Continental AG ( an expert in automotive battery management systems ) established a joint venture for development and productiothe of 48v battery system for automotive industry. Continental AG holds 60% share and CITC holds 40% share planning to operate globally and supply customers in Europe, North America, China and other Asian markets. The operations are expected to begin in mid-2018 with its headquarters located in Changzhou, near Shanghai.
• Feb 2018: Ficosa, a company based in Spain, closed five important contracts for battery management system for Chinese market. Orders placed by two tier on automobile manufacturers are valued at USD 233.35 million and will be deployed in electric and plug-in hybrid vehicles.

Automotive Battery Management System Market Major Players: Robert Bosch GmbH, Denso Corporation, Panasonic Corporation, and Calsonic Kansei Corporation among others.

Reasons to Purchase Automotive Battery Management System Market Report

• Latest technology trends adopted by the manufacturers in the automotive battery management market
• Various perspectives of the market with the help of Porter’s five forces analysis.
• Study on the region that is expected to dominate the market.
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