India Battery Management System for Electric 2W and 3W Vehicles Market is Anticipated to Grow up to US$ 2.32 Billion by 2032, Driven by the Demand for BMS Technology

The India Battery Management System for Electric 2W and 3W Vehicles Market was valued at US$ 112.7 million in 2022 and it is anticipated to grow up to US$ 2.32 billion by 2032, at a CAGR of 32.48% during the forecast period.

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A BMS is an electronic system that monitors and manages the performance of the battery in an electric vehicle. It is responsible for ensuring that the battery is charged and discharged safely and efficiently, preventing overcharging and over-discharging, and optimizing the performance of the battery. A BMS also provides critical information about the state of the battery, such as its state of charge, state of health, and temperature, which can help the driver optimize their driving behavior and maximize the range of the vehicle. In the context of electric two-wheelers and three-wheelers in India, a BMS is an essential component that plays a crucial role in ensuring the reliability and longevity of the battery, which is a significant determinant of the vehicle's overall performance and cost-effectiveness.

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Market Drivers and Trends

The Indian government has set ambitious targets for the electrification of the country's transport system, with a particular focus on electric two-wheelers and three-wheelers. The National Electric Mobility Mission Plan (NEMMP) 2020 aims to achieve 6-7 million sales of electric and hybrid vehicles by 2020. To achieve this goal, the government has introduced various incentives and subsidies to promote the adoption of electric vehicles. These include tax exemptions, reduced GST rates, and subsidies for manufacturers and consumers. The government has also set up the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme to provide financial support for the development and deployment of electric vehicles, including battery management systems.

As the awareness and acceptance of electric vehicles increase, more consumers are opting for them as an alternative to traditional gasoline-powered vehicles. The growing number of electric 2W and 3W vehicles on Indian roads is a testament to this trend.

By Battery Type

Lithium-ion Battery
Lead Acid Battery
Solid State Battery
By Type

BEV
PHEV
By Vehicle Type

Electric 2-Wheelers
Electric 3-Wheelers

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Major Players in the India Battery Management System for Electric 2W and 3W Vehicles Market

The key players studied in the India Battery Management System for Electric 2W and 3W Vehicles Market are Infineon Technologies AG, Silicon Laboratories, NXP Semiconductors N.V., Vitesco Technologies GmbH, TE Connectivity Corporation, Renesas Electronics Corporation, Keihin Co., Ltd., Texas Instruments Incorporated, Analog Devices, Inc., and ION Energy Inc., among others.

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