Automotive Battery Management System Market: Industry Analysis and Forecast (2022-2029)

Automotive Battery Management System Market size was valued at US$ 8.9 Bn. in 2021 and the total revenue is expected to grow at 19.6% of CAGR through 2022 to 2029, reaching nearly US$ 37.26 Bn.
Automotive Battery Management System Market Overview:
Electronic control circuits known as battery management systems (BMS) are used to monitor and manage the charging and discharging of batteries. The detection of battery type, voltages, temperatures, capacities, charge states, power consumption, remaining running time, charging cycles, and other characteristics are among the battery variables that need to be tracked. Enhancements in wireless and connected devices and technology have led to greater interest in the battery management system market. The use of electric and hybrid vehicles has increased globally due to the implementation of strict laws and regulations like the Kyoto protocol for reducing greenhouse gas (GHG) emissions. Additionally, the market is expected to benefit from an increase in the usage of rechargeable batteries across a variety of industry sectors, as well as from the growing demand for communications backup systems and efficient electric grid management systems to boost the automotive battery management system market.

Many automobile and telecom manufacturers are using battery management systems thanks to multiple tax benefits associated with the use of environmentally friendly and renewable energy sources. Furthermore, technologically enhanced battery management systems improve output, boost reliability, and simplify operations. The integration of techniques like the Internet of Things (IoT), machine learning (ML), artificial intelligence (AL), and others helps to further the growth of the automotive battery management system market.To know about the Research Methodology :- Request Free Sample Report
Automotive Battery Management System Market Dynamics:
Electric vehicles demand drive BMS market

Electric vehicles have developed as one of the finest alternatives for environmental sustainability. The popularity of electric vehicles is growing as environmental protection becomes more of a priority. R&D efforts are being prioritized by automakers to enhance the performance of electric vehicles. Due to their higher flexibility, lower cost, and less complexity, wireless Electric Vehicle (EV) battery management systems are becoming more and more popular than conventional battery management systems.

An electronic circuit known as the battery management system is specifically created for electric vehicles (EVs) to secure the stability and safety of their battery packs. Several elements, including cell voltage, battery life and health, safety, and charging-discharging rates, have an impact on how well EVs operate. The vehicle battery management system connects rechargeable batteries in EVs to all of these metrics in some fashion. As a result, numerous battery properties must be monitored and adjusted in order to produce an efficient output from these batteries. The EV battery management system is critical for proper tracking of every function performed by the battery. As a result, the increased use of EVs is increasing the size of the global battery management system market. According to the United States Energy Information Administration, 2022, demand for EVs is expanding rapidly in the United States, with EVs accounting for 3.4% of all light-duty vehicles sold in the country.

Increasing Demand for Intelligent Battery Management System

Features like as start/stop, electric power steering, and electronic braking systems have increased the power strain on the battery. As a result, addressing all of these electrical loads on a scale from comfort to safety has been a top focus in the electrical system of a car. Intelligent battery management systems (IBMSs) are gaining popularity among automakers and are being widely implemented in all regions. IBMS is made up of advanced electronics such as battery sensors that measure the state of charge (SOC), state of health (SOH), and temperature across a cell in a vehicle battery pack.

IBMS took all three measurements at the same time to ensure accurate measurements, even in quickly changing vehicle conditions. The use of IBMS aids in shutting down these electric car systems in a logical order and alerting drivers to an expected battery failure, keeping them safe from battery explosions. Continental AG, Hella, and Bosch are among the leading manufacturers of intelligent battery sensors.

Sales of automotive battery monitoring systems hit by high costs

High costs are hurting sales of advanced vehicle battery monitoring systems, which have several sensors and technologies installed, which raises the price and serves as a barrier. The need for intelligent battery management systems for electric vehicles is growing, which is encouraging the development of expensive BMS for automobile batteries using cutting-edge sensors and technology. As a result, there is a high demand for expensive automotive BMS, but at the same time, rising costs are limiting sales.
Automotive Battery Management System Market Segment Analysis:
By Battery type, Lithium-ion batteries are commonly used in EVs because they have a high energy density, low self-discharge, are light, and require little maintenance. The lead-based battery is widely employed in ICE vehicles and is projected to be the only viable mass-market battery solution for the foreseeable future. Lithium-ion batteries still require significant cost reductions for usage in SLI applications before they can be regarded a viable mass-market alternative to lead-based batteries. The plug-in hybrid and electric vehicles are driven by lithium-ion battery systems. Lithium-ion batteries are the only available technology capable of meeting OEM standards for vehicle driving range and charging time due to their high energy density, fast recharge capabilities, and high discharge power. Because of their lower specific energy and heavier weight, lead-based traction batteries are not competitive for use in full hybrid electric vehicles or electric vehicles.The Asia-Pacific region dominated the production of batteries for electric vehicles, with Chinese, Japanese, and South Korean corporations leading the field and developing factories in Europe to maintain their dominance.

In 2020, China was the global leader in lithium-ion manufacturing with about 77% of all lithium-ion batteries manufactured in China. According to BNEF data, China's success may be attributed to the country's high domestic battery demand, which stands at 72 GWh, and its control over 80% of the world's raw material refining, 77% of the world's cell capacity, and 60% of the world's component manufacturing.

While China is expected to maintain its position as the world's top manufacturer of lithium-ion batteries in 2025, Europe is expected to dramatically increase its production capabilities. With planned investments in manufacturing facilities, Europe is likely supply about 25% of the world's lithium-ion battery capacity by 2025, making it the second-largest producer in the world.

by Topology, based on topology, the modular topology segment of the battery management system market is expected to grow at the highest rate during the forecast period. modularized BMSs are characterized by a number of identical modules that are wired to the various batteries or battery cells. The BMS modules offer communication interfaces and data acquisition interfaces (single cell voltage, current, and temperature). Frequently, one of the modules or a different module is designated as the master. The other modules automatically record the measured data and transfer it to the master module, which manages the entire battery pack and interacts with the rest of the system. A modularized BMS is recommended with the goal of enhancing BMS functionality to offer a safe, dependable, and affordable solution for smart grids and electric automobiles. The modularized BMS for electric vehicles described in focuses on efficient single-cell monitoring and balancing for several battery cells of relatively simple design. The enhanced manageability of modularized BMSs is a benefit. Long cables are avoided by placing the modules close to the batteries. The BMS's functionality can be readily copied on the various modules to increase functional safety. In comparison to centralized BMSs, the scalability is also improved. When adding more cells to the battery pack, a new BMS module is simply attached.

By Application, the market for EV battery management systems is classified into segments based on the kind of vehicle, including electric automobiles, light commercial vehicles, heavy commercial vehicles, electric scooters and motorcycles, and e-bikes. The market for electric vehicle battery management systems is anticipated to be dominated by the electric car segment in 2022. This segment has a sizable market share, which may be ascribed to the rising use of electric vehicles in developing countries like India, the proactive involvement of well-known automotive OEMs in the development of electric vehicles, and the growth of new electric vehicle makers. However, it is expected that during the forecast period, the segment for light commercial vehicles will experience the highest CAGR. Due to increased demand for electric vehicles to reduce fleet emissions and strict government rules and regulations regarding vehicle emissions, the market for electric vehicles is expected to rise quickly in the coming years.The global EV battery management systems market is divided based on configuration into four groups: up to 36 cells, 48 cells to 84 cells, 96 cells to 132 cells, 144 cells to 180 cells, and more than 180 cells. The segment with 96 to 132 cells is expected to hold the largest market share for electric car battery management systems in 2022. Texas Instruments (TI) announced the release of an innovative wireless battery management solution for EVs in January 2021. This method enables wireless control, eliminating the need for cumbersome cabling and conserving weight. The TI CC2662R-Q1 SimpleLink Wireless BMS MCU connects with 100 battery cells over 2.4 GHz with latencies of 2 ms per node.
Automotive Battery Management System Market Regional Insights:
North America held a 29.90% share of the global market for battery management systems in 2021. Due to the presence of large competitors, considerable investment in R&D efforts to improve BMS capabilities, and increase in financing for the development of hybrid electric vehicles (HEVs) and electric vehicles (EVs), the market in the region has grown. Increased interest in the battery management system market is a result of advancements in wireless and connected technology.

The adoption of electric and hybrid vehicles has increased globally due to the implementation of stringent policies and regulations like the Kyoto protocol for reducing greenhouse gas (GHG) emissions. This is encouraging for the intended market. Additionally, the market is expected to benefit from an increase in the adoption of rechargeable batteries across a variety of industry verticals, as well as from the growing demand for telecommunication backup systems and efficient electric grid management systems. Again, the market for battery management systems is impacted by developments in the automotive industry. Battery management systems improve security and dependability, prolong battery life, and reduce the possibility of damage. These benefits of using a battery management system induce original equipment manufacturers (OEMs) to invest more in the research and development of the target product. Besides, strict regulations against CO2 emissions and rising fuel costs further propel market growth for battery management system.

The key market participants for battery management systems are covered in detail in the report's full version, including Vecture Inc., Toshiba Corporation, L&T Technology Services, Navitas System, LLC, Merlin Equipment Ltd., Ashwoods Energy Limited, Lithium Balance Corporation, Nuvation Engineering, The Ventec Company, and Johnson Matthey Battery Systems.

To obtain a competitive edge, major firms are focusing on introducing cutting-edge technologies to the market. To create new technologies and solutions, these companies are also using strategies including strategic partnerships and collaborations with other technology suppliers, automobile OEMs, and other stakeholders.

Battery management systems are very popular in Europe and Asia Pacific. In 2021, these regions had a value share of 28.77% and 25.29%, respectively. The presence of major car manufacturers in Europe and Asia Pacific's fast expanding consumer electronics industry are factors driving the market in their respective regions. Battery management solutions have a larger market in the Middle East and Africa than in South America. During the forecast period, the Middle East and Africa market is expected to increase at a rate of 17.2%.

The objective of the report is to present a comprehensive analysis of the Automotive Battery Management System Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
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Automotive Battery Management System Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 8.9 Bn.


Forecast Period 2022 to 2029 CAGR:
19.6%
Market Size in 2029:
US $ 37.26 Bn.


 Segments Covered:
by Battery
• Lithium-ion
• Lead-acid
• Nickel
• Flow Battery


by Topology
• Centralized
• Distributed
• Modular


by Application
• Electric Vehicle
• Military
• Telecommunication
• Renewable Energy System
• Other



Automotive Battery Management System Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina, Columbia and Rest of South America)
Automotive Battery Management System Market Key Players Are:
• Denso Corporation (Japan)
• Panasonic Corporation (Japan)
• Toshiba Corporation (Japan)
• Calsonic Kansei Corporation (Japan)
• NXP Semiconductors NV (Netherlands)
• AVL LIST GmbH (Austria)
• Texas Instruments Inc.(US)
• Intel Corporation(US)
• Analog Devices Inc. (US)
• Continental AG (Germany)
• Robert Bosch GmbH (Germany)
• HORIBA MIRA Ltd.(UK)
• Johnson Matthey PLC(UK)

Frequently Asked Questions:

1. What is the forecast period considered for the Automotive Battery Management System Market report?
Ans. The forecast period for the Automotive Battery Management System Market is 2021-2029.

2. Which key factors are hindering the growth of the Automotive Battery Management System Market?
Ans. High cost battery hampering the market growth.

3. What is the compound annual growth rate (CAGR) of the Automotive Battery Management System Market for the forecast period?
Ans. 19.6 % of CAGR is the annual growth rate of the automotive battery management system market.

4. What are the key factors driving the growth of the Automotive Battery Management System Market?
Ans. Electric vehicle driving the market.

5. Which are the worldwide major key players covered for the Automotive Battery Management System Market report?
Ans. Robert Bosch GmbH, Denso Corporation, Panasonic Corporation, Calsonic Kansei Corporation are some of the major key players.