Rising demand for hybrid, semi-hybrid and fully electric vehicles will drive the global battery management system market. Moreover, the adoption rate of these batteries in passenger vehicles such as electric truck and bus is increasing, which is expected to drive the growth of this market. However, growing awareness of driver comfort is expected to provide promising opportunities for market players.
The safety issues related to battery uses, failure of battery due to excess heat, and underdeveloped infrastructure for electric vehicles are considered as the key factors restraining the growth of this market. However, growing population, rapid expansion in the automotive industry in emerging economies such as China, India, Thailand, Mexico, Indonesia, and Vietnam, and increasing demand for smart batteries for electric vehicles are providing growth opportunities for the players operating in the global market.
Market Research Analysis
The global Battery Management System for Electric Vehicles Market is segmented based on system, application, vehicle type, and region. Based on the system, the global market has been segmented into hardware and software. Based on application, the global market has been segmented into passenger car and commercial vehicle. Based on vehicle type, the global market has been segmented into battery, hybrid, and plug-in hybrid electric vehicle.
In terms of region, the global market for the battery management system for electric vehicles is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the largest market share during the forecast period owing to growing production of electric vehicles, establishing manufacturing facilities of automotive battery management system, and increasing investment by manufacturers such as Desay Corporation, BYD Co Ltd., and Denso Corporation for the development of the manufacturing facilities to meet the high demand for battery management systems in the region. Moreover, a growing population, increasing disposable income, and rising purchasing power of people are expected to boost the demand for Battery Management System for Electric Vehicles Market in this region. Furthermore, in Asia-Pacific, China is projected to grow at a rapid pace over the forecast period due to the increasing per capita disposable income, large consumer base, and developing economy is expected to witness a rapid growth rate over the forecast period.
The growing investing for the development of advanced battery management systems for the electric vehicles used in public transport such as cars and buses across MEA and South America is expected to fuel the market growth.
Scope of the Report
This study provides an overview of the global Battery Management System for Electric Vehicles Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Battery Management System for Electric Vehicles Market by system, component type, technology, application, vehicle type, and region.
- Passenger Car
- Commercial Vehicle
By Vehicle Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicles (PHEV)
- North America
- Rest of the World
The prominent players operating in the global Battery Management System for Electric Vehicles Market are Panasonic Corporation (Japan), Amperex Technology Limited (China) Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), LG Innotek (South Korea), HELLA GmbH & Co. KGaA (Germany), BYD Co Ltd. (China), Texas Instruments Incorporated (US), Desay Corporation (China), Sunwoda Electronic Co. (China), Infineon Technologies AG (Germany), Analog Devices, Inc. (US), and LIGOO Reserved ICP (China).