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The automotive battery management system market share is expected to increase by USD 714.41 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.73%.
This automotive battery management system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive battery management system market segmentations by type (lithium-ion and others), application (hybrid electric vehicles, battery electric vehicles, and other vehicles), and geography (APAC, Europe, North America, South America, MEA, APAC, Europe, North America, South America, and MEA). The automotive battery management system market report also offers information on several market vendors, including Contemporary Amperex Technology Co. Ltd., Continental AG, DENSO Corp., HELLA GmbH & Co. KGaA, Infineon Technologies AG, Johnson Matthey Plc, JTT Electronics Ltd., LG Chem Ltd., Lithium Balance AS, and Marelli Holdings Co. Ltd. among others.
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Based on our research output, there has been a NEGATIVE impact on the market growth during and post COVID-19 era. The increasing demand for electric and hybrid vehicles is notably driving the automotive battery management system market growth, although factors such as non-uniformity in standards may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive battery management system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Battery Management System Market Driver
Use of communication protocols and smart sensors is the major driver influencing the automotive battery management system market growth. Automotive battery management systems are increasingly being upgraded with advanced technologies to increase the battery life of electric vehicles. The power retaining capacity of an electric vehicle battery is a major factor determining the effective life cycle of an electric vehicle. Hence, OEMs are employing the use of advanced local interconnect network (LIN) and intelligent battery sensors to increase the efficiency of battery management systems in vehicles. Intelligent battery sensors will precisely gauge the amount of current needed on demand along with accurate readings of temperature and voltage of the battery. They use a LIN communication protocol to send inputs regarding the health of the battery and power discharge to the electronic control unit (ECU) of the vehicle. The use of intelligent sensors that communicate using LIN protocols increases the technological effectiveness of automotive battery management systems.
Key Automotive Battery Management System Market Trend
The increasing adoption of intelligent automotive battery management systems is the major trend influencing the automotive battery management system market growth. The emergence of intelligent automotive battery management systems is one of the key automotive battery management system market trends. The power efficiency of electric vehicles depends on the amount of load the vehicle is required to carry at a point of time.Carrying increased amounts of load depletes the battery life cycle and increases the number of charging cycles.Automotive battery management system players are developing systems that offer a balance between the power supplied for a vehicle's operation based on the load.Players in the market are developing a type of automotive battery management system for high-performance electric or hybrid cars to alter the flow of current for improving the life of the battery during frequent charging cycles.Intelligent automotive battery management systems can monitor the condition of individual battery cells and take actions to enhance the power retaining the capacity of the vehicle battery.
Key Automotive Battery Management System Market Challenge
Complexity in designing automotive battery management systems is the major challenge hindering the automotive battery management system market growth. Automotive battery management system is a highly complex technology that measures all factors of individual battery cells and transmits the information to the control unit of the vehicle using a communication protocol. Hence, the design of an automotive battery management system becomes highly complicated with the advances in electric vehicle technology. Automotive battery management systems should be designed to work at a wide range of temperatures. They should sense low and high cell temperatures to detect the health of each battery cell. These systems also take logs in real-time for diagnostics and determine the best course of action for extending the life of a battery. Vendors generally use parallel and series-connected battery cell structures to increase the effectiveness of automotive battery management systems. However, the complexity in designing an automotive battery management system for balancing multiple battery cells may pose a major technical challenge to the growth and adoption of advanced automotive battery management systems during the forecast period.
This automotive battery management system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive battery management system market as a part of the global auto parts and equipment market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive battery management system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive battery management system market encompasses successful business strategies deployed by the key vendors. The automotive battery management system market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive battery management system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive battery management system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global auto parts and equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Type
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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