Automotive Battery Management System Market Size in 2023 To 2029 | Eberspächer (Germany), Sensata Technologies, Inc. (US), AVL (Austria), LG Energy Solution (South Korea), Ficosa Internacional SA (Spain), Leclanché SA (Switzerland), Nuvation Energy (US)

The Automotive Battery Management System research report provides comprehensive information about the evolving trade markets and studies the vision across well-known segments of the markets. It highlights a multitude of constantly changing market situations as well as future evaluations of various factors that significantly affect the market. This report also offers complete data regarding profitable developing markets and examines insights across established parts of the markets. Segmented by application, region, type, and end-user, this report divides the global Automotive Battery Management System market and delivers a comprehensive approach to profits for the overall market and sub-segments across different verticals and regions. Stakeholders can use this report to understand the pulse of the Automotive Battery Management System market, providing key insights into market drivers, limitations, challenges, and opportunities.

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Major players profiled in this report are as follows: Eberspächer (Germany), Sensata Technologies, Inc. (US), AVL (Austria), LG Energy Solution (South Korea), Ficosa Internacional SA (Spain), Leclanché SA (Switzerland), Nuvation Energy (US), Futavis GmbH (Germany), AMP (US) and others.

Furthermore, this Automotive Battery Management System market research report surveys all the new enhancements and revolutions in the market, covering market activities like drivers, new possibilities, discrimination, and obstacles. It also presents data regarding obstacles while establishing businesses and provides guidance to overcome future challenges. Moreover, stakeholders can better understand competitors and gain insights to improve their position in their industries. The report evaluates patterns in the parent market along with common factors and market share across countless segments.

Given the impact of the COVID-19 pandemic on businesses worldwide, this report includes an in-depth breakdown of the COVID-19 crisis's impact on the Automotive Battery Management System market in specific regions. Tracking recent developments and innovations in the market, the growth of the Automotive Battery Management System market was primarily driven by increasing R&D spending across the world. Providing market insights, this research report offers comprehensive information on the market offered by key market players.

"Automotive battery management system market to grow at an impressive rate from 2023 to 2028"

The global automotive battery management system (BMS) market size is expected to grow from USD 4.7 billion in 2023 to USD 11.7 billion in 2028, at a CAGR of 19.8% from 2023 to 2028.Battery management systems are critical for monitoring multiple battery-related measures such as voltage, current, charge, power, health, and safety. Within the automotive industry, battery-powered vehicles are divided into three categories: passenger, commercial, and other vehicles, which cover a wide range of applications such as passenger cars, buses, trucks, e-bikes, two-wheelers, and three-wheelers. Several factors are propelling the popularity of EVs which include environmental concerns, advancements in battery technology, an expanding charging infrastructure, and others. Hence as the adoption of electric vehicles rise globally, demand for automotive BMS is anticipated to grow in the forecast period.

"Modular topology segment is projected to grow at highest CAGR during the forecast period"

A modular arrangement is also called decentralized, star, or master and topology. Each cell board handles a specific number of cells in the modular structure. Communication interfaces are employed to connect the master control board with the board that helps control the operations of the system. The modular architecture in an automotive BMS consists of two topologies-master- and peer-to-peer. The modular BMS architecture offers a trade-off between the advantages and drawbacks of centralized and distributed topologies. Most manufacturers prefer modular topology as it offers good computational power and is safe as it does not require extensive wire harnesses.

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Research Coverage

The automotive BMS market has been classified by component, system type, battery type, topology, application, and region. The market by components has been classified into hardware and software. By system type, the market has been segmented into standalone BMS and integrated BMS. The battery type segment market is divided into lithium-ion batteries, lead-acid batteries, and others. The market has been divided into modular, centralized, and distributed topology segments. Furthermore, the application segment includes passenger vehicles, commercial vehicles, and other vehicles. The study also forecasts the market size in four key regions-North America, Europe, Asia Pacific, and RoW.

Key Benefits of Buying the Report:

The report provides insights on the following pointers:

Analysis of key drivers (Growing penetration of electric vehicles, Increasing electrification of public transportation), restraints (Lack of standardization in battery management solutions, Complexity of various battery technologies), opportunities (Rising government initiatives globally for adoption of electric vehicles, Advantages of wireless battery management systems over conventional), and challenges (Complex designing process, Impact of external factors on performance) influencing the growth of the automotive BMS market

This release was published on openPR.