In the near future, electric vehicles will dominate the clean vehicle market, and necessitate demand for revolutionary battery management
systems. Steadily growing demand for battery management systems in
e-bikes as well as electric cars will squarely surge market growth.
According to a new research report published by Future Market Insights (FMI), the automotive battery management system market is estimated to reach US$ 15.31 Bn by the end of 2029.
“In the foreseeable future, advancements in battery management systems will
contribute towards extending vehicle range, while simultaneously
improving battery life and safety. All major OEMs are ambitiously
planning to boost electric vehicle production, which is projected to
create significant opportunities for the global automotive battery
management system market.”
Key Takeaways of Automotive Battery Management System Market Study
- Consumer demand across the globe is beginning to bend in favor of electric
vehicles, and has strong disruption potential with governments providing
purchasing incentives and subsidiaries. - With the dawn of electro-mobility and the resulting increase in EV production, automakers
are offering tailored electric vehicles with modification in battery
management systems. - APEJ is anticipated to remain the fastest-growing region in the automotive battery management system
market during the forecast years, owing to several countries encouraging
the usage of EVs. China leads the global fleet of electric vehicles. - Hybrid electric vehicles hold more than two-third of the global EV fleet.
Increasing sales of HEVs are foreseen to fuel the demand for battery
management systems in the future. - Electric vehicle fleet is significantly low as compared to ICE vehicles. As a result, the OEM
sales channel is projected to retain its prominence throughout the
forecast period. - Although centralized BMS account for a lion’s share in the global market, modular BMS are expected to witness high
growth due to its superior functional benefits over its counterparts.
AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET TAXONOMY
The global automotive battery management system market is segmented in
detail to cover every aspect of the market and present complete market
intelligence to the reader.
Vehicle Type
- Electric Vehicles
- Passenger Cars
- HEVs
- PHEVs
- BEVs
- Commercial Vehicles
- HEVs
- PHEVs
- BEVs
- Golf Carts
- E-Bikes
Connection Topology
- Centralized
- Distributed
- Modular
Sales Channel
- OEMs
- Aftermarket
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Middle East & Africa
- Japan
