Press release
Automotive Battery Management System Market Outlook, Opportunities, Challenges, Trends, Size and Growth and Competitive Analysis
Based on application, the automotive battery management system market is categorized into passenger cars, commercial vehicles, golf carts, and e-bikes. Of these, passenger cars held the largest share in the market in 2017, recording the highest sales volume. Besides, the category is expected to continue leading the market in the coming years, owing to increasing urbanization and rising disposable income of people in developing economies of the world.
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On the basis of end use, the automotive battery management system market is categorized into OEMs and aftermarket. The OEM category registered higher sales volume in the market in 2017. Moreover, the market growth of this category is predominantly driven by the increase in the production of vehicles meant for personal use on account of the rising standard of living in developing countries.
APAC, led by China, recorded the highest sales volume in the automotive battery management system market in 2017. The region is expected to continue holding the largest market share in the coming years, mainly on account of China’s government policies and initiatives favoring the production of automobiles, particularly electric vehicles. India and Japan are also expected to play an important role in the growth of the APAC market in the near future. The government of many Asian countries has plan to end the production and sales of gasoline and diesel vehicles in coming years. This move is expected to increase the market of electric vehicles in the region, benefiting the growth of the market during the forecast period.
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Various environmental policies and regulations coupled with governments’ support in the form of subsidies, grants, and tax rebates are the key factors driving the growth of the automotive battery management system market. This is because the sales of hybrid electric and pure electric vehicles directly affect the market demand for automotive battery management systems. Governments, across the world, are working toward reducing carbon emission levels through the complete electrification of both public and private vehicles. In addition, environmental protection and awareness agencies are encouraging the adoption of eco-friendly vehicles, globally.
Some of the key players in the market are Analog Devices Inc., NXP Semiconductors NV, AVL LIST GmbH, Texas Instruments Inc., Continental AG, HORIBA MIRA Ltd., Intel Corporation, Johnson Matthey PLC, Robert Bosch GmbH, and Toshiba Corporation.
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