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Automotive Battery Management System Market Report 2023-2032: Future Dynamics, Global Trends, Growth Insights And Major Players | Robert Bosch GmbH, Continental AG, Toshiba Corporation, Intel Corporation, NXP Semiconductors NV
Automotive Battery Management System Market
The Business Research Company's Automotive Battery Management System Global Market Report 2023 identifies Increased adoption of electric vehicles as the major driver for the Automotive Battery Management System Market's growth in the forecast period. An electronic vehicle refers to a vehicle that uses an electronic motor instead of an internal combustion engine. An automotive battery management system helps electronic vehicles by ensuring that the battery is protected and any operation out of its safety limit is prevented, and by monitoring the battery pack's state of charge (SOC) along with the state of health (SOH).
The global automotive battery management system market size grew from $4.19 billion in 2022 to $4.99 billion in 2023 at a compound annual growth rate (CAGR) of 19.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive battery management system market size is expected to grow to $9.8 billion in 2027 at a CAGR of 18.4%.
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Major competitors in the automotive battery management system Market are Robert Bosch GmbH, Continental AG, Toshiba Corporation, Intel Corporation, NXP Semiconductors NV, Analog Devices Inc., Johnson Matthey Inc., Renesas Electronics Corporation, Texas Instruments Inc., Lithium Balance A/S, Midtronics Inc., AVL List GmbH, Preh GmbH, Denso Corporation, and Leclanche.
A key trend in the Automotive Battery Management System Market includes Strategic partnerships. Many companies operating in the automotive battery management system market are undergoing partnerships to strengthen their position in the automotive battery management system market. For example, in 2021, Hella Company, a German automotive battery management company, partnered with Evergrande Group, a Chinese real-estate company. This partnership aims to develop and produce battery management systems, particularly for the Chinese market, as part of their new joint ventures. Further, in June 2021, Sharda Motor Industries Limited (SMIL), an Indian -based company manufacturing automotive battery management systems, and Kinetic Green Energy and Power Solutions Limited, an Indian -based automotive company entered into a joint venture (JV). This partnership aims to develop battery packs with battery management systems (BMS) for electric vehicles and stationary applications.
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The Automotive Battery Management System Market is segmented -
By Connection Topology: Centralised Automotive Battery Management Systems, Distributed Automotive Battery Management Systems, Modular Automotive Battery Management Systems
By Propulsion Type: IC Engine Vehicle, Electric Vehicle (HEV, PHEV, and BEV)
By Vehicle Type: Passenger Cars, Commercial Vehicles
By Sales Channel: OEM Automotive Battery Management Systems, Aftermarket Automotive Battery Management Systems
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Battery Management System Market.
The Business Research Company's "Global Automotive Battery Management System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Battery Management System Market Include:
1. Executive Summary
2. Automotive Battery Management System Market Characteristics
3. Automotive Battery Management System Market Trends And Strategies
4. Automotive Battery Management System Market - Macro Economic Scenario
5. Automotive Battery Management System Market Size And Growth
……
26. Africa Automotive Battery Management System Market
27. Automotive Battery Management System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Battery Management System Market
29. Automotive Battery Management System Market Future Outlook and Potential Analysis
30. Appendix
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