Overview and Scope
An automotive battery management system refers to an electronic system that manages a rechargeable battery to ensure it operates safely and efficiently. The automotive battery management system is used to monitor the temperature across the pack, and open and closes various valves to maintain the temperature of the overall battery within a narrow temperature range to ensure optimal battery performance.
Sizing and Forecast
The automotive battery management system market size has grown rapidly in recent years. It will grow from $4.93 billion in 2023 to $5.81 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to increasing demand for electric vehicles, stringent emission regulations, advancements in battery technology, increasing adoption of renewable energy sources, growing demand for fuel-efficient vehicles.
The automotive battery management system market size is expected to see rapid growth in the next few years. It will grow to $10.73 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to growing demand for electric vehicles, increasing adoption of autonomous and connected vehicles, rising demand for lightweight materials in vehicle manufacturing, growing focus on reducing carbon footprint in transportation
increasing government support for electric vehicles. Major trends in the forecast period include development of intelligent battery monitoring systems, integration of machine learning for predictive analytics, focus on thermal management in battery systems, standardization of battery interfaces and protocols, growth in energy storage applications beyond vehicles.
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Segmentation & Regional Insights
The automotive battery management system market covered in this report is segmented –
1) By Connection Topology: Centralised Automotive Battery Management Systems, Distributed Automotive Battery Management Systems, Modular Automotive Battery Management Systems
2) By Propulsion Type: IC Engine Vehicle, Electric Vehicle (HEV, PHEV, and BEV)
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
4) By Sales Channel: OEM Automotive Battery Management Systems, Aftermarket Automotive Battery Management Systems
Asia-Pacific was the largest region in the automotive battery management system market in 2023, it is also expected to be the fastest-growing region in the automotive battery management system market during the forecast period. The regions covered in the automotive battery management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased adoption of electric vehicles globally is expected to propel the growth of the automotive battery management system market during the forecast period. An electronic vehicle refers to a vehicle that uses an electronic motor instead of an internal combustion engine. An automotive battery management system helps electronic vehicles by ensuring that the battery is protected and any operation out of its safety limit is prevented, and by monitoring the battery pack’s state of charge (SOC) along with the state of health (SOH). For instance, according to Argonne National Laboratory, a US-based department of energy multidisciplinary science and engineering research center, in March 2021, Americans purchased 75,959 Hybrid-Electric Vehicles (HEVs). Further, according to International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric cars topped 6.6 million globally in 2021. Therefore, the increased adoption of electric vehicles globally is predicted to boost demand for automotive battery management systems during the forecast period.
Key Industry Players
Major companies operating in the automotive battery management system market report are Robert Bosch GmbH, Continental AG, Toshiba Corporation, Intel Corporation, NXP Semiconductors NV, LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., A123 Systems LLC, Denso Corporation, Build Your Dream Company Limited, Johnson Controls International plc, Eberspächer, Calsonic Kansei Corporation, Delphi Technologies, Lear Corporation, Hitachi Automotive Systems, NEC Energy Solutions, AVL List GmbH, Texas Instruments Incorporated, Infineon Technologies AG, ON Semiconductor Corporation, Analog Devices Inc., STMicroelectronics NV, Elithion Inc., Preh GmbH, Nuvation Energy, Tianneng Power International Ltd., Battery management system PowerSafe, Aeristech Limited
The automotive battery management system market report table of contents includes:
1. Executive Summary
2. Automotive Battery Management System Market Characteristics
3. Automotive Battery Management System Market Trends And Strategies
4. Automotive Battery Management System Market – Macro Economic Scenario
5. Global Automotive Battery Management System Market Size and Growth
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26. South America Automotive Battery Management System Market
27. Brazil Automotive Battery Management System Market
28. Middle East Automotive Battery Management System Market
29. Africa Automotive Battery Management System Market
30. Automotive Battery Management System Market Competitive Landscape And Company Profiles
Top Major Players:
- Robert Bosch GmbH
- Continental AG
- Toshiba Corporation
- Intel Corporation
- NXP Semiconductors NV
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