Europe EV Battery Management System Industry Overview
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Europe |
| Largest Market: | Europe |
| CAGR: | > 30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe EV Battery Management System Market Analysis
The European electric vehicle battery management system market is valued at USD 834 Million in 2020 and is expected to reach USD 4.44 billion registering a CAGR of more than 30 % during the forecast period (2021 – 2026).
- In vehicles, the battery management system is primarily used for managing and protecting the cells in a battery pack. Safe and optimum use of the energy stored is highly essential in a vehicle battery pack, due to the growing electrification in vehicles. Factors, such as the increasing demand for electric vehicles and energy storage systems and growing consumption of rechargeable batteries in consumer electronics, coupled with technical advancements, are aiding the market’s growth significantly.
- 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 the vehicle electric system. Therefore, the intelligent battery management system (IBMS) has been gaining attention among the automobile manufacturers, which aided its adoption across the world.
- Companies are primarily focused on entering into international deals, as well as are heavily investing in R&D projects. For instance, Ficosa, a Spain-based company, signed five important contracts for the battery management system. The orders placed by Tier II companies are valued at USD 233.35 million, and are expected to be deployed in electric and plug-in hybrid vehicles.
Europe EV Battery Management System Industry Segments
The ongoing demand for incorporation of electric components in vehicles across the world, latest R&D investment in energy-saving projects, growing demand for electric vehicles particularly in developing countries, and growing stringent emission regulation are expected to increase the demand in the market studied.
The Europe Electric Vehicle Battery Management System Market is segmented by Propulsion Type, Vehicle Type, and Country
By Propulsion Type, the market is segmented as Hybrid and Electric.
By Vehicle Type, the market is segmented as Passenger Cars and Commercial Vehicles.
and Country, the market is observed in Germany, United Kingdom, France, Norway, and the Rest of Europe
| Propulsion Type | |
| Hybrid | |
| Electric |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicle |
| Geography | |||||||
|
Europe EV Battery Management System Market Trends
This section covers the major market trends shaping the Europe EV Battery Management System Market according to our research experts:
The Passenger Cars Segment is Driving the Demand for Battery Management System
Europe is one of the largest market for electric vehicles across the world, where the demand for electric cars is growing rapidly in every country, which is fueling the demand for battery management system in the region.
In 2017, Europe noticed more than 279 thousand unit sales of plug-in hybrid and battery electric cars, with an increase of 40% from 2016.
- Plug-in hybrid car sales recorded nearly 144 thousand units in 2017, with an increase of 33% from 2016.
- Battery electric car sales recorded nearly 135 thousand units in 2017, with an increase of 49% from 2016.
The countries, like Germany, Norway, the United Kingdom, and France captured nearly 70% of the market share in European hybrid and electric car sales in 2017.
- Germany experienced approximately 117% increase in the hybrid and electric car registrations, with 54 thousand units in 2017 from 2016.
- Norway documented the highest hybrid and electric car registrations, reaching 62 thousand units in 2017, with an increase of 40% from 2016.
- In 2017, the United Kingdom witnessed 47 thousand unit sales of hybrid and electric cars, an increase of 28% from previous year.
Owing to the growing sales of hybrid and electric passenger cars, automobile manufacturers plan to extend their battery management system production capacities over the forecast period.
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Norway is Expected to Continue to Dominate the Europe Electric Vehicle Battery Management System Market
Norway is a leader in the deployment of electric cars. The country's electric cars run almost exclusively off the country’s copious hydropower resource. Nearly a third of all new cars sold in the country in 2018 was expected to be a plug-in model either fully electric or a hybrid, and experts expect the share to rise to as much as 40% in 2019.
The Norwegian parliament has set a target that all new cars must have zero emissions by 2025. However, such enthusiastic embracing of electric vehicles by ordinary Norwegians is not all down to ecological benefits but something more simple, money. Meanwhile motorists are typically subject to punitive levels of taxation, those who buy a purely electric vehicle are rewarded with a string of incentives worth thousands of pounds. Buyers escape heavy import or purchase taxes and are also exempted from 25% VAT.
Apart from Norway, Germany is also witnessing increased demand for electric vehicles, which in turn, is expected to drive the growth of the market studied. The government launched a USD 350 million program in 2017, to install DC fast chargers around the country, and Tesla has begun rapidly building out its Supercharger network. The German government has funded for the development of a nationwide fast-charging network long ago, the results of the funding are now being used by thousands of new electric-car drivers each month.
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Europe EV Battery Management System Market Competitor Analysis
The European electric vehicle battery management system market is highly consolidated, with major players, like Denso, Bosch, Continental, and Panasonic Corporation. Denso Corporation had dominated the market studied. The powertrain division of Denso in 2017 was worth JPY 1,260.6 million. The company is planning to capture nearly 30% of global electrification market share by 2025. In order to achieve the aforementioned market share, the company is eyeing on Europe electric vehicle business and is trying to expand the battery management system division. Other players in the market studied include Hitachi Automotive system, Calsonic Kansei Corporation, etc.
Europe EV Battery Management System Market Top Players
Denso Corporation
Robert Bosch GmbH
Panasonic Corporation
LG Chem Ltd
Calsonic Kansei Corporation
*Disclaimer: Major Players sorted in no particular order
Europe EV Battery Management System Market Recent Developments
- In May 2021, Denso Corporation announced that it will exhibit solution technologies and related products that contribute to the reduction of CO2 emissions of electric vehicles (EVs), hybrid vehicles (HVs), and fuel cell vehicles (FCVs) at the Automotive Engineering Exposition 2021. The company will exhibit its energy management system, a technology that extends the range of EVs, shortens the recharging time, and extends battery life, as well as fuel cell-related products.
- In December 2020, Panasonic Corporation began offering a new, cloud-based battery management service, known as the UBMC (Universal Battery Management Cloud) service, utilizing a proprietary AI-based technology that incorporates its battery expertise.
- In February 2020, Human Horizons,dedicated to innovative mobility technologies, announced that it signed an agreement with Bosch Connected Mobility Solutions at the Bosch Connected World 2020 (BCW) conference in Berlin, Germany. The companies will work together to facilitate their cooperation in the field of next-generation cloud management systems for power batteries (Battery in the Cloud). They will also jointly develop the “Battery in the Cloud” models and algorithms exclusively for the HiPhi 1, an intelligent battery electric vehicle developed by Human Horizons.
Europe EV Battery Management System Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Propulsion Type
5.1.1 Hybrid
5.1.2 Electric
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicle
5.3 Geography
5.3.1 Europe
5.3.1.1 Germany
5.3.1.2 United Kingdom
5.3.1.3 France
5.3.1.4 Norway
5.3.1.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Denso Corporation
6.2.2 Robert Bosch GmbH
6.2.3 Panasonic Corporation
6.2.4 LG Chem Ltd
6.2.5 Calsonic Kansei Corporation
6.2.6 Hitachi Automotive Systems Ltd
6.2.7 Mitsubishi Electric Corporation
6.2.8 Continental AG
6.2.9 Lithium Balance
6.2.10 Preh GmbH
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe EV Battery Management System Market Research FAQs
What is the study period of this market?
The Europe Electric Vehicle Battery Management System Market is studied from 2018 - 2028.
What is the growth rate of Europe Electric Vehicle Battery Management System Market?
The Europe Electric Vehicle Battery Management System Market is growing at a CAGR of >30% over the next 5 years.
What is Europe Electric Vehicle Battery Management System Market size in 2018?
The Europe Electric Vehicle Battery Management System Market is valued at 834 Million USD in 2018.
What is Europe Electric Vehicle Battery Management System Market size in 2028?
The Europe Electric Vehicle Battery Management System Market is valued at 4 Billion USD in 2028.
Which region has highest growth rate in Europe Electric Vehicle Battery Management System Market?
Europe is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Europe Electric Vehicle Battery Management System Market?
Europe holds highest share in 2021.
Who are the key players in Europe Electric Vehicle Battery Management System Market?
Denso Corporation, Robert Bosch GmbH, Panasonic Corporation, LG Chem Ltd, Calsonic Kansei Corporation are the major companies operating in Europe Electric Vehicle Battery Management System Market.
Europe Electric Vehicle Battery Management System Industry Reports
In-depth industry statistics and market share insights of the Europe Electric Vehicle Battery Management System sector for 2020, 2021, and 2022. The Europe Electric Vehicle Battery Management System research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Europe Electric Vehicle Battery Management System report PDF.
