Press release
Automotive Battery Management System Market is Anticipated to Expand upto $11.94 Billion in 2029
Automotive Battery Management System Market Size
What Is the Forecasted Market Growth Rate of the Automotive Battery Management System Industry?
The market for automotive battery management systems has seen swift expansion recently. The market value is forecasted to rise from $5.74 billion in 2024 to $6.65 billion in 2025, displaying a compound annual growth rate (CAGR) of 15.9%. This surge in the historical phase can be linked to growing requirements for electric cars, strict emission rules, advancements in battery technology, rise in the use of renewable energy sources, and an increased demand for vehicles that are fuel-efficient.
How Will the Automotive Battery Management System Market Size Evolve From 2025 to 2029?
Predictions suggest a swift expansion of the automotive battery management system market in the forthcoming years, with an expectation of reaching a value of $11.94 billion in 2029, and a compound annual growth rate (CAGR) of 15.7%. The noteworthy growth in the prediction period can be linked to factors such as the rising demand for electric vehicles, the increase in the adoption of connected and autonomous vehicles, a surge in requests for lightweight materials in vehicle manufacturing, a heightened focus on lessening the carbon footprint from transportation, and the amplified government backing for electric vehicles. Key trends anticipated for the forecasting period include the creation of intelligent battery monitoring systems, the incorporation of machine learning for predictive analytics, concentrate on thermal management in battery systems, standardizing battery interfaces and protocols, along with a surge in energy storage applications beyond vehicles.
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What Are the Main Growth Drivers in the Automotive Battery Management System Market Today?
The rising global usage of electric vehicles is anticipated to fuel the expansion of the automotive battery management system market in the predicted timeline. Electric vehicles, which employ an electric motor rather than an internal combustion engine, make use of these automotive battery management systems. These systems are beneficial in ensuring the safety of the battery, preventing any unsafe operations, and keeping track of the battery pack's state of charge (SOC) and state of health (SOH). For example, the International Council on Clean Transportation, a non-profit public policy research group based in the U.S, reported a surge in the sales of new electric light-duty vehicles in the U.S. in 2023 to roughly 1.4 million, which is a considerable increase from almost 1 million in 2022. As a result, it is expected global uptake of electric vehicles will drive the demand for automotive battery management systems during the projected period.
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Which Automotive Battery Management System Market Segment Is Expected to Lead Through 2029?
The automotive battery management system market covered in this report is segmented -
1) By Connection Topology: Centralized Automotive Battery Management Systems, Distributed Automotive Battery Management Systems, Modular Automotive Battery Management Systems
2) By Propulsion Type: IC Engine Vehicle, Electric Vehicle (HEV, PHEV, and BEV)
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
Subsegments:
1) By Centralized Automotive Battery Management Systems: Single Point Control Architecture, Integrated Battery Management Units
2) By Distributed Automotive Battery Management Systems: Multiple Battery Management Units, Decentralized Communication Protocols
3) By Modular Automotive Battery Management Systems: Configurable Modules, Scalable System Design
Which Market Trends Are Expected to Dominate Automotive Battery Management System Industry Growth?
Numerous businesses in the car battery management system market are concentrating on creating unique solutions, such as small battery management systems (BMS), to boost energy efficiency, lessen space usage, and improve vehicle performance. The term compact battery management system (BMS) refers to a slimmed-down and smaller form of the standard BMS, designed with a specific focus on optimizing space and weight, especially in electric (EVs) and hybrid vehicles. For instance, in October 2022, a product named c-BMS24X, a compact battery management system (BMS), was launched by Sensata Technologies Holding CO U.S. B.V., a firm based in the US that produces and sells sensors and solutions rich in sensors. This product, tailored for industrial uses, lower-voltage electric vehicles (EVs), and energy storage systems, can accommodate parallel pack configurations of up to 10 battery packs. It simplifies battery swapping, allowing for reduced downtime. It is equipped with advanced software algorithms for precise tracking of battery conditions, such as state of charge (SOC) and state of health (SOH), and can manage up to 24 cells in series with continuous currents exceeding 2000 amps.
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Which Companies Hold the Largest Market Share in the Automotive Battery Management System Sector?
Major companies operating in the automotive battery management system market include Robert Bosch GmbH, Continental AG, Toshiba Corporation, Intel Corporation, NXP Semiconductors NV, LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., A123 Systems LLC, Denso Corporation, Build Your Dream Company Limited, Johnson Controls International plc, Eberspächer, Calsonic Kansei Corporation, Delphi Technologies, Lear Corporation, Hitachi Automotive Systems, NEC Energy Solutions, AVL List GmbH, Texas Instruments Incorporated, Infineon Technologies AG, ON Semiconductor Corporation, Analog Devices Inc., STMicroelectronics NV, Elithion Inc., Preh GmbH, Nuvation Energy, Tianneng Power International Ltd., Battery management system PowerSafe
Where Is the Automotive Battery Management System Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the automotive battery management system market in 2024, it is also expected to be the fastest-growing region in the automotive battery management system market during the forecast period. The regions covered in the automotive battery management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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