The global automotive battery management system market market accounted for US$ 18.62 Mn in 2018 and is expected to grow at a CAGR of 8.3% over the forecast period 2019-2027, to account for US$ 83.66 Mn by 2027. The automotive battery management system market outlook is positive, as the electric vehicles or fuel cell vehicles are gaining popularity among the end-users. Increasing adoption of these vehicles would enable the manufacturers to increase their production lines, thereby, requiring increased quantity of BMS. This factor is expected to drive the automotive battery management system market. Additionally, the presence of large number of well-established and automotive industry recognized players in the market is allowing the end-users to rely on the BMS products, which is also a key driving force of automotive battery management market.
the US, and several European countries are also gaining momentum in developing and deploying electric buses, electric LCV, and electric HCVs. The e-commerce industry has flourished in the US and various European countries, and also the consciousness related to environmental hazards caused by diesel powered vehicles has led the countries to witness growth in electric trucks. Rising production of electric trucks is driving the automotive battery management system market in the US and Europe. Moreover, the governmental regulations to transform public transportation system to electric or hybrid vehicles or fuel cell vehicles from ICE vehicles have positively impacted on the electric bus manufacturers. This in turn has multiplied the automotive battery management system market size. The US and European governmental initiatives to switch to electric vehicles is expected boost the automotive battery management system market in the coming years.
It was identified that vehicular emissions were the largest contributors to the pollution caused.As a result, Governments of different countries implemented a proposal wherein they would incentivise the company costs on the production of electric vehicles which reduces the emission considerably.
The government is offering generous incentives to scale up EV production and sales.More importantly, China has offered generous terms to international automakers looking to establish their manufacturing plants in the country.
Currently, as per few estimates, Chinas holds approximately 40% of the global market share in the EV production S.The alarming rate of pollution particularly in the major urban cities of China has propelled the car automakers in China to go completely electric.
Chinese automakers manufactured close to 680,000 electric vehicles that includes cars, buses as well as trucks. This has driven the automotive BMS market growth at a rapid pace in the region.
The automotive battery management system market has been segmented on the basis of vehicle type and geography.On the basis of vehicle type which is sub segmented trucks, buses, and off-highway vehicles.
Trucks are further bifurcated into light commercial vehicle (LCV) and medium & heavy commercial vehicle (M&HCV).Buses are sub segmented into school bus, transit bus, mini bus, and coach/motor coach.
Off-highway vehicles are fragmented into dump trucks, loader, excavator, tractors, and others.
The market participants operating in the automotive battery management system market are Magneti Marelli S.p.A, Continental AG, Dana Incorporated, Gentherm Incorporated, Hanon Systems, Renesas Electronics Corporation, MAHLE GmBH, Robert Bosch GmBH, NXP Semiconductors N.V., and Valeo SA, among others.
The overall global automotive battery management system market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global automotive battery management system market.
It also provides an overview and forecast for the automotive battery management system market based on all the segmentation provided for the global region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive battery management system market.
Our reports have been used by over 10K customers, including:
Rapid developments in technology coupled with increasing vehicle production is projected to drive the automotive wiring harness market The automotive wiring harness market, by value, is projected to grow to USD 55.4 billion by 2027 from USD 43.3 billion in 2019, at a CAGR of 3.1%. Factors such as increase in vehicle production,...
Increasing focus of countries on electrification of their public transport fleets and increasing awareness toward ecofriendly vehicles are the significant growth drivers which have led the global electric bus market The global electric bus market size is projected to grow from 137 thousand units in 2019 to reach 935 thousand...
The automotive adhesives market is projected to register a CAGR of 5.7%, in terms of value, between 2019 and 2024 The automotive adhesives market is expected to grow from USD 8.1 billion in 2019 to USD 10.7 billion by 2024, at a CAGR of 5.7%, between 2019 and 2024. APAC is the largest consumer of automotive adhesives. Low-cost...
145 pages •
By Infiniti Research Limited
• Oct 2019
Global Commercial Vehicle Transmission Market: About this market This commercial vehicle transmission market analysis considers sales from the automatic transmission, manual transmission, and automated manual transmission types. Our analysis also considers the sales of commercial vehicle transmission in APAC, Europe, North...
224 pages •
By Asia Market Information & Development Company
• Oct 2019
China’s demand for Exhaust Systems has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer consumption...
The Mexican connected truck market is highly fragmented and comprises more than 50 telematics companies and leading OEMs. The transportation start-up ecosystem is small but is beginning to grow. Since 2016, the country has faced declining commercial vehicle (CV) sales; however, a marginal recovery has been recorded this year (2019).This...
Advent of body control functions and increasing mid-size and luxury vehicle production are anticipated to trigger the growth of the body control module market. The global body control module market is projected to grow at a CAGR of 2.6% to reach USD 35.7 billion by 2027 from an estimated USD 29.2 billion in 2019. Increasing body electronic...
204 pages •
By Asia Market Information & Development Company
• Oct 2019
China’s demand for Buses has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer consumption and...
Zero road fatalities is a goal for legislators, automotive suppliers, and original equipment manufacturers.To achieve this, major automotive companies are exploring autonomous driving technologies to complement their vehicle lineups’ active safety portfolios. This research found that the advanced driver assistance systems (ADAS) market...
The increasing focus on safety and technological advancements in the automotive industry are driving the growth of the side-view camera system market. The side-view camera system market is projected to grow from USD 2 million in 2020 to USD 388 million by 2027, at a CAGR of 112.0%. The market is driven by the rising demand for the safety...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.