Battery Management System for Electric Vehicles Market Research Report, Size, Industry Forecast Analysis | Valuates Reports

Batteries such as lead-acid and lithium-ion have been widely used in electric vehicles as energy storage source due to their high-power density and long lifespan. A battery management system (BMS) is used in vehicles to monitor and regulate overall performance of batteries in operations. The battery management system is comprised of several components, such as battery monitoring integrated circuit (BMIC), cell management controller (CMC), battery management controllers (BMC), and intelligent controllers or embedded processors placed at strategic locations in the architecture to manage various aspects of the power system. A BMC provides voltage information by monitoring multiple battery cells. Furthermore, a BMC calculates state-of-charge (SOC) of the battery, which is used to determine the charge remaining in the battery and another calculation, including state-of-health (SOH), which provides essential insights on operating conditions of the battery.

The global Battery Management System for Electric Vehicles market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.

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Global EV sales continued strong. A total of 10,5 million new BEVs and PHEVs were delivered during 2022, an increase of +55 % compared to 2021. China and Europe emerged as the main drivers of strong growth in global EV sales. In 2022, the production and sales of new energy vehicles in China reach 7.0 million and 6.8 million respectively, a year-on-year increase of 96.9% and 93.4%, with a market share of 25.6%. The production and sales of new energy vehicles have ranked first in the world for eight consecutive years. Among them, the sales volume of pure electric vehicles was 5.365 million, a year-on-year increase of 81.6%. In 2022, sales of pure electric vehicles in Europe will increase by 29% year-on-year to 1.58 million.

This report aims to provide a comprehensive presentation of the global market for Battery Management System for Electric Vehicles, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Battery Management System for Electric Vehicles.

By Type
Centralized BMS
Distributed BMS
Modular BMS

By Application
Passenger Car
Commercial Vehicle
Key Companies

Robert Bosch, Denso Corporation, Continental, LG Innotek, HELLA, BYD Company, NXP Semiconductors, Texas Instruments Incorporated, Desay Corporation, Sunwoda Electronic, Infineon Technologies, Analog Devices, LIGOO Reserved ICP, Panasonic Corporation, Eberspächer, Renesas Electronics Corporation

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This release was published on openPR.