Automotive Battery Management System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Automotive Battery Management System Market Growth and it is Segmented by Components (Battery IC, Battery Sensor, and Other Components (Electronics and Materials Used in BMS)), Propulsion Type (IC Engine Vehicle and Electric Vehicle (HEV, PHEV, and BEV)), Vehicle Type (Passenger Cars and Commercial Vehicles), and Geography.

Automotive Battery Management System Market Size

Automotive Battery Management Systems Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 12.60 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Automotive Battery Management Systems Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Automotive Battery Management System Market Analysis

The automotive battery management system market was valued at USD 5.17 billion in 2021, and it is expected to register a CAGR of over 12.7% during the forecast period (2022-2027). The market seems to be promising due to the increased adoption of electric vehicles globally. With growing electrification in vehicles, the need for safe and optimum use of the energy stored in a vehicle battery pack has increased significantly among automakers.

Demand remained muted during the FY 2020 due to COVID-19, which affected the supply chain. Government-regulated lockdowns shut down the production houses, causing a decline in annual sales during Q2 FY2020. The COVID-19 pandemic decreased consumer purchasing power and contributed to a significant drop in oil and gasoline prices. For traditional vehicles with internal combustion engines (ICEs), the drop in gasoline prices may decrease the total cost of ownership. Although EVs will still have lower total costs of ownership than traditional ICE vehicles in most segments, the advantage will not be as great, and this shift could influence sales. Moreover, the market has been recovering after Q2 2021 in terms of revenue and annual sales. The supply chain is working efficiently. Thus, the market is likely to grow significantly during the forecast period.

Thus, the demand for battery management systems from the automotive industry has been growing significantly, and it is expected to continue to grow during the forecast report. In addition, regional government policies regarding EV adoption have primarily driven the business dynamics. Companies are focusing on entering international deals and are heavily investing in R&D projects.

The anticipated increase in demand for electric vehicles may primarily drive the market during the forecast period, as most electric vehicles worldwide utilize lithium-ion batteries. The battery management system is essential for the safe and optimal performance of lithium-ion batteries.

Automakers are initiating several plans to launch a greater number of electric vehicles. They are also entering partnerships and making investments to have a competitive edge in the markets. For instance,

In April 2021, PACCAR announced a five-year supply agreement for battery power systems with Romeo Power Inc. PACCAR may purchase Romeo Power's battery packs and battery management software for heavy-duty battery-electric Peterbilt 579EV vehicles and Peterbilt 520EV refuse trucks in North America.

Mahindra & Mahindra (M&M) announced an investment of INR 30 billion in electric vehicle (EV) space over the next three years. Mahindra is exploring partnerships in the EV segment, including battery management systems. It is also planning to launch a new EV platform.

Automotive Battery Management System Market Trends

This section covers the major market trends shaping the Automotive Battery Management Systems Market according to our research experts:

Increasing Demand for Intelligent Battery Management System

Features like start/stop, electric power steering, and electronic braking systems have increased the battery's power load. Therefore, prioritizing all these electrical loads on a scale from comfort to safety level has been a significant issue in a vehicle's electrical system. Intelligent battery management systems (IBMSs) have been gaining attention among automakers and are being widely adopted across all regions. IBMS consists of advanced electronics, such as battery sensors that measure the state of charge (SOC), state of health (SOH), and temperature across a cell, connected in series and parallel arrays in a vehicle battery pack.

All three measurements by IBMS have been taken simultaneously to ensure accurate measurements, even during rapidly changing vehicle conditions. The usage of IBMS aids in shutting down these electric vehicle systems in a logical order and warning the drivers about the impending battery problem to keep them safe from battery explosions. The prominent suppliers of intelligent battery sensors include Continental AG, Hella, and Bosch.

Automotive Battery Management System Market: Revenue (%), by Components, Global, 2021

Growing Demand for Electric Vehicles in Asia-Pacific and Europe

Apart from conventional IC engine vehicles, the demand for electric vehicles is anticipated to boost the growth of the battery management system market. With stringent emission regulations across every region, the electrical vehicle demand is likely to increase during the forecast period. Global electric vehicle sales increased dramatically to more than 109% in 2021 compared to 2020.

The battery is the primary source of power for electric vehicles, which is likely to drive the demand for an efficient and advanced battery management system. The Asia-Pacific region covered a significant share of the battery management system market in 2021. For instance,

  • In June 2021, Hella announced its joint venture (JV) with Evergrande Group, HELLA Evergrande Electronics (Shenzhen) Co., to develop and produce high-voltage battery management systems. Hella is primarily contributing to the field of battery electronics and jointly developing high-class battery management systems.
  • In June 2021, Sharda Motor Industries Limited (SMIL) and Kinetic Green Energy and Power Solutions Limited, a Kinetic Group company, entered a joint venture (JV) agreement to develop battery packs with battery management systems for electric vehicles and stationary applications in India.

The market in Europe registered a faster growth rate due to its rapidly increasing electric vehicle sales in 2021-2022. The market in Europe is anticipated to grow further 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 a few European countries, like Norway and the Netherlands.

Automotive Battery Management System Market- Growth Rate by Region (2022-2027)

Automotive Battery Management System Industry Overview

The market is highly consolidated with major players, like DENSO Corporation, Robert Bosch GmbH, Hitachi Ltd, Panasonic Corporation, and Calsonic Kansei Corporation.

Automotive Battery Management System Market Leaders

  1. DENSO Corporation

  2. Panasonic Corporation (Ficosa)

  3. Calsonic Kansei Corporation

  4. Robert Bosch GmbH

  5. Hitachi Ltd

*Disclaimer: Major Players sorted in no particular order

Automotive Battery Management Systems Market Concentration
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Automotive Battery Management System Market News

  • In June 2021, STMicroelectronics announced its collaboration with Arrival to provide semiconductor technologies and products for Arrival's vehicles, including automotive microcontrollers and power and battery-management devices.
  • In March 2021, LION E Mobility AG and Sogefi announced an agreement to combine LION's technology in battery management systems and module design with Sogefi's industrial capability in engineering and manufacturing.
  • In June 2021, LeclancheSA announced the development of a new generation of lithium-ion battery modules called M3. Each M3 module is fitted with a functionally safe slave battery management system (BMS) unit, which communicates with a functionally safe master battery management system unit.
  • In March 2021, Ningbo Joyson Electronic Corporation announced its decision to continue providing new energy vehicle (NEV) product solutions for Audi's J1 platform and Volkswagen's MEB platform, including battery management systems, high-voltage fast-charge boosters, and DC/DC multifunction converters.

Automotive Battery Management System Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Components

      1. 5.1.1 Battery IC

      2. 5.1.2 Battery Sensors

      3. 5.1.3 Other Components (Electronics and Materials Used in IBMS)

    2. 5.2 Propulsion Type

      1. 5.2.1 IC Engine Vehicle

      2. 5.2.2 Electric Vehicle (HEV, PHEV, and BEV)

    3. 5.3 Vehicle Type

      1. 5.3.1 Passenger Cars

      2. 5.3.2 Commercial Vehicles

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Norway

        5. 5.4.2.5 The Netherlands

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Robert Bosch GmbH

      2. 6.2.2 Panasonic Corporation (Ficosa)

      3. 6.2.3 LG Chem

      4. 6.2.4 Calsonic Kansei Corporation

      5. 6.2.5 Hitachi Ltd

      6. 6.2.6 Mitsubishi Electric Corporation

      7. 6.2.7 Continental AG

      8. 6.2.8 LiTHIUM BALANCE

      9. 6.2.9 Preh GmbH

      10. 6.2.10 LION E Mobility AG

      11. 6.2.11 Ningbo Joyson Electronic Corporation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Automotive Battery Management System Industry Segmentation

A battery management system or battery control unit has become one of the essential power electronic modules of automobiles. It monitors and controls the charging and discharging processes of the battery pack, thereby enhancing the battery's lifespan by avoiding any damage risk due to overcharging and over-discharging situations.

The automotive battery management system market is segmented by components, propulsion type, vehicle type, and geography. By components, the market is segmented into battery IC, battery sensor, and other components (electronics and materials used in BMS). By propulsion type, the market is segmented into IC engine vehicles and electric vehicles (HEV, PHEV, and BEV).

By vehicle type, the market is segmented into passenger cars and commercial vehicles. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

Components
Battery IC
Battery Sensors
Other Components (Electronics and Materials Used in IBMS)
Propulsion Type
IC Engine Vehicle
Electric Vehicle (HEV, PHEV, and BEV)
Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Norway
The Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries
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Automotive Battery Management System Market Research FAQs

The Automotive Battery Management Systems Market is projected to register a CAGR of greater than 12.60% during the forecast period (2024-2029)

DENSO Corporation, Panasonic Corporation (Ficosa), Calsonic Kansei Corporation, Robert Bosch GmbH and Hitachi Ltd are the major companies operating in the Automotive Battery Management Systems Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Automotive Battery Management Systems Market.

The report covers the Automotive Battery Management Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Battery Management Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automotive Battery Management System Industry Report

Statistics for the 2024 Automotive Battery Management System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Battery Management System analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Automotive Battery Management System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)