Summary: Global Automotive Battery Management System Market to 2027 – Analysis and Forecasts by Vehicle Type (Bus, Truck, Off-highway Vehicle) and Geography.
Description: The global automated material handling equipment market accounted US$ 28.64 Billion in 2017 and is expected to grow at a CAGR of 7.6% during the forecast period 2018 – 2025, to account to US$ 51.22 Billion by 2025.
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.
Global automotive battery management system market is expected to grow from US$ 18.62 Million in 2018 to US$ 83.66 Million by the year 2027. This represents a CAGR of 18.3% from the year 2019 to 2027. Asia Pacific accounted to be the leading region in automotive battery management system market, and is foreseen to continue contributing maximum revenues during the forecast period.
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Exhibit: Lucrative Regional Markets
Globally, the electric vehicle industry is heavily dominated by China. The country’s commercial vehicle segment has observed significant growth in production as well as adoption of the zero-emission vehicles, which has boosted the demand for BMS. This factor has had a positive impact on the rise of automotive battery management system market. China’s enthusiasm for electric transportation or electro mobility has been unparalleled to any other country across the globe. Shenzhen has turned all of its city buses to electric buses from ICE vehicles. And also continues to induct a large number of e-buses frequently. Chinese electric commercial vehicle manufacturers such as BYD, Yutong, and Zhongtong are the forerunners in the electro mobility segment. Similar to China, Japan, India, and South Korea among others are making noteworthy strides in development and deployment of electric buses. These factors are propelling the growth of automotive battery management system market in Asia Pacific region.
By Vehicle Type Insights
The global automotive battery management system market by vehicle type was led by bus segment. Also, the automotive battery management system market is projected to experience escalation in demand from bus segment during the period from 2019 – 2027.
Exhibit: Global Automotive Battery Management System Market by Vehicle Type
The market players present in the automotive battery management system market takes steps to strengthen their services portfolio in order to have high clientele. To accomplish this goal, companies take initiatives with respect to merger & acquisitions of other players, which would eventually help to increase their business revenue, geographical imprints throughout the globe. Few of the recent developments are listed below;
2019: Dana Incorporated Secures Electric Powertrain Programs with Two Leading Medium-Duty Truck Manufacturers
2019: Renesas Electronics’ 14-Cell Li-ion Battery Management IC Maximizes Battery Cell Life
2018: Gentherm Incorporated debuts automotive industry’s first thermoelectric battery thermal management solution for 48-volt Lithium-Ion batteries.
GLOBAL AUTOMOTIVE BATTERY MANAGEMENT SYSTEMS MARKET – MARKET SEGMENTATION
- School Bus
- Transit Bus
- Coach/Motor Coach
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Off-highway Vehicle
- Dump Trucks
- Global Automotive Battery Management System Market – By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Rest of World (RoW)
- Middle East
- South America
Companies Mentioned in Global Automotive Battery Management System Market
- Continental AG
- Dana Limited
- Gentherm Incorporated
- Hanon Systems
- Mahle GmbH
- Magnetti Marelli S.p.A
- NXP Semiconductor N.V.
- Renesas Electronics Corporation
- Robert Bosch GmbH
- Valeo SA
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