DUBLIN, Dec. 29, 2023 /PRNewswire/ — The “Automotive Battery Management System Market by Battery Type (Lithium-ion, Lead-acid, Nickel-based, Solid-state), Topology (Modular, Centralized, Distributed), Application (Passenger Vehicles, Commercial Vehicles) and Region – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global automotive battery management system (BMS) market size is expected to grow from USD 4.7 billion in 2023 to USD 11.7 billion in 2028, at a CAGR of 19.8% from 2023 to 2028
The automotive BMS market has been classified by component, system type, battery type, topology, application, and region. The market by components has been classified into hardware and software. By system type, the market has been segmented into standalone BMS and integrated BMS. The battery type segment market is divided into lithium-ion batteries, lead-acid batteries, and others.
Battery management systems are critical for monitoring multiple battery-related measures such as voltage, current, charge, power, health, and safety. Within the automotive industry, battery-powered vehicles are divided into three categories: passenger, commercial, and other vehicles, which cover a wide range of applications such as passenger cars, buses, trucks, e-bikes, two-wheelers, and three-wheelers.
Several factors are propelling the popularity of EVs which include environmental concerns, advancements in battery technology, an expanding charging infrastructure, and others. Hence as the adoption of electric vehicles rise globally, demand for automotive BMS is anticipated to grow in the forecast period.
Major players profiled in this report are as follows: Eberspacher (Germany), Sensata Technologies, Inc. (US), AVL (Austria), LG Energy Solution (South Korea), Ficosa Internacional SA (Spain), Leclanche SA (Switzerland), Nuvation Energy (US), Futavis GmbH (Germany), AMP (US) and others.
Modular topology segment is projected to grow at highest CAGR during the forecast period
A modular arrangement is also called decentralized, star, or master and slave’s topology. Each cell board handles a specific number of cells in the modular structure. Communication interfaces are employed to connect the master control board with the slave board that helps control the operations of the system.
The modular architecture in an automotive BMS consists of two topologies – master-slave and peer-to-peer. The modular BMS architecture offers a trade-off between the advantages and drawbacks of centralized and distributed topologies. Most manufacturers prefer modular topology as it offers good computational power and is safe as it does not require extensive wire harnesses.
The market in North America is expected to grow at a significant CAGR during the forecast period
The North American automotive BMS market is further segmented into the US, Canada, and Mexico. With the implementation of many clean energy initiatives such as net zero emissions, across the region, the demand for electric vehicles, plug-in hybrid, and hybrid vehicles is rising.
The governments of major countries in the region are taking initiatives such as providing incentives and subsidies to propel the adoption of EVs in their countries. Battery-powered vehicles such as electric vehicles, e-bikes, and automated guided vehicles are currently in high demand in the US.
Premium Insights
- Rising Demand for Electric Vehicles to Fuel Market Growth During Forecast Period
- Lithium-Ion Segment to Account for Largest Market Share During Forecast Period
- Modular Segment to Register Highest CAGR During Forecast Period
- Passenger Vehicles Segment to Capture Largest Market Share During Forecast Period
- Passenger Vehicles and US to be Largest Shareholders of North American Automotive BMS Market in 2028
- China to Exhibit Highest CAGR in Automotive BMS Market from 2023 to 2028
Case Study Analysis
- Case Study 1: Abu Dhabi’s Masdar City to Introduce Autonomous Prt System with Lithium-Ion Batteries
- Case Study 2: Sensata Technologies Collaborates with Chinese Oem to Enhance S-BMS for Fast-Charging Ev Buses
- Case Study 3: Sensata’s S-BMS Integration with Qev Arcfox Gt Ensures Unmatched Safety Standards and Performance
Market Dynamics
Drivers
- Remarkable Growth of Electric Vehicles Industry
- Strong Focus on Electrification of Public Transportation
- Government-Led Initiatives to Boost Adoption of Evs
Restraints
- Developing Universal Battery Management System Standards for Various Applications
Opportunities
- Emergence of Novel Battery Technologies
- Advantages of Wireless Battery Management Systems Over Traditional Systems
- Development of Cell Management System (Cms) Technology
Challenges
- Impact of External Factors on Performance of Battery Management Systems
- Complexities of Modern Battery Technologies Impeding Development of Reliable Battery Management Systems
Key Functions of BMS
- Battery Management
- Cell Balancing
- Thermal Management
- State of Charge
- State of Health
Technology Analysis
- Ab Battery System
- Sodium-Ion Battery
- Solid-State Battery
Company Profiles
Key Players
- Eberspacher
- Sensata Technologies, Inc.
- Avl
- Lg Energy Solution
- Ficosa Internacional Sa
- Amp
- Ewert Energy Systems, Inc.
- Futavis GmbH
- Leclanche Sa
- Nuvation Energy
- Other Important Players
- Analog Devices, Inc.
- Infineon Technologies AG
- Nxp Semiconductors
- Panasonic Holdings Corporation
- Renesas Electronics Corporation
- Stmicroelectronics
- Texas Instruments Incorporated
Other Players
- BMS Powersafe
- Dukosi Limited
- Elithion, Inc.
- Powertech Systems
- Roboteq
- Xing Mobility
For more information about this report visit https://www.researchandmarkets.com/r/mwufot
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