Global Automotive Battery Management System Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
“Global Automotive Battery Management System Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global automotive battery management system market report has been segmented on the basis of propulsion type, vehicle types, components and region.
Global Automotive Battery Management System Market: Overview
Battery management system (BMS) is an integral part of an any automotive device which protect battery from damage. Automotive battery management system is an electronic system that controls, monitor state of operation, calculates the data and monitor the charging and discharging activity of rechargeable batteries.
Global Automotive Battery Management System Market: Dynamics
Increasing demand of hybrid electric vehicles and battery electric vehicles is a key factor expected to boost demand for automotive battery management systems and drives growth of the global market over the forecast period.
In addition, increasing awareness about safe and optimum use of the vehicle battery pack across the globe also expected to bolster demand for the automotive battery management system during the forecast period.
Rising adoption of stringent environmental policies for battery management is also anticipated to drive growth of the global automotive battery management system market over the forecast period. In addition, government support in terms of subsidies for development of technologically advanced batteries and battery management systems, is another factor projected to fuel growth of the target market during the forecast period.
Furthermore, increasing rapid adoption of various automotive appliances across the globe is also anticipated to boost demand for the automotive battery management system in the next 10 years.
However, design complexities in components of the automotive battery management is a major factor which may hamper growth of the global market over the forecast period. Also, lack of proper charging infrastructure facilities is another factor expected to restrain growth of the target market to a certain extent.
Global Automotive Battery Management System Market: Segment Analysis
Among the vehicle type, the passenger car segment is expected to account for highest growth in the global automotive battery management system market, owing increased adoption of automotive battery management system in the various type of passenger cars such as hybrid electric vehicles, plug-in hybrid electric vehicles and battery electric vehicles.
Among the population type, the IC engine vehicle segment is expected to contribute major share in the global automotive battery management system market, owing to IC engine vehicle is safer to operate and has small engine size and high efficiency rate which helps to reduce emission and saves money.
Global Automotive Battery Management System Market: Region Analysis
The market in North America accounted for highest revenue share in the global market followed by market in Europe, owing to strong growth of sales in the automotive battery management system based passenger and commercial vehicles in countries in the region. Market in Asia Pacific is expected to register a significant growth in terms of CAGR in the global market, owing to rapidly developing automobiles and electronic battery management infrastructure in countries such as China, and India in the region. Markets in Middle East & Africa and Latin America, are expected to witness moderate growth in terms of revenue, owing to increasing adoption of electric cars among individuals in countries.
Global Automotive Battery Management System Market Segmentation:
Segmentation by Propulsion Type:
- IC Engine Vehicle
Segmentation by Vehicle Types:
- Passenger Car
- Commercial Car
Segmentation by Components:
- Battery Sensor
- Battery IC
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Robert Bosch GmbH
- Panasonic Corporation
- Denso Corporation
- Calsonic Kansei Corporation
- NXP Semiconductors NV
- Analog Devices Inc.
- AVL LIST GmbH
- Continental AG
- Texas Instruments Inc.
- HORIBA MIRA Ltd.
- Johnson Matthey PLC
- Intel Corporation
- Toshiba Corporation
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