Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) — 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. 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.
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. The market has been divided into modular, centralized, and distributed topology segments. Furthermore, the application segment includes passenger vehicles, commercial vehicles, and other vehicles. The study also forecasts the market size in four key regions – North America, Europe, Asia Pacific, and RoW.
The key players are 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), and AMP (US).
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.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 211 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $4.7 Billion |
| Forecasted Market Value (USD) by 2028 | $11.7 Billion |
| Compound Annual Growth Rate | 19.8% |
| Regions Covered | Global |
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
Technology Analysis
- AB Battery System
- Sodium-Ion Battery
- Solid-State Battery
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
Companies Mentioned
- AMP
- Analog Devices, Inc.
- AVL
- BMS Powersafe
- Dukosi Limited
- Eberspacher
- Elithion, Inc.
- Ewert Energy Systems, Inc.
- Ficosa Internacional SA
- Futavis GmbH
- Infineon Technologies AG
- Leclanche SA
- LG Energy Solution
- Nuvation Energy
- NXP Semiconductors
- Panasonic Holdings Corporation
- Powertech Systems
- Renesas Electronics Corporation
- Roboteq
- Sensata Technologies, Inc.
- STMicroelectronics
- Texas Instruments Incorporated
- Xing Mobility
For more information about this report visit https://www.researchandmarkets.com/r/u8qa4
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- Global Automotive Battery Management System Market
