Battery Management System for Electric Vehicles Market is projected to witness 21% CAGR by 2028

Pune, India, September 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Battery Management System for Electric Vehicles Market.

Market Highlights

Rising demand for hybrid, semi-hybrid and fully electric vehicles will drive the global battery management system market. Moreover, the adoption rate of these batteries in passenger vehicles such as electric truck and bus is increasing, which is expected to drive the growth of this market. However, growing awareness of driver comfort is expected to provide promising opportunities for market players.

The safety issues related to battery uses, failure of battery due to excess heat, and underdeveloped infrastructure for electric vehicles are considered as the key factors restraining the growth of this market. However, growing population, rapid expansion in the automotive industry in emerging economies such as China, India, Thailand, Mexico, Indonesia, and Vietnam, and increasing demand for smart batteries for electric vehicles are providing growth opportunities for the players operating in the global market.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Battery Management System Electric Vehicles Market Research Report

Drivers: Global Battery Management System for Electric Vehicles
 

Market Research Analysis

The global battery management system for electric vehicles market is segmented based on system, application, vehicle type, and region. Based on the system, the global market has been segmented into hardware and software. Based on application, the global market has been segmented into passenger car and commercial vehicle. Based on vehicle type, the global market has been segmented into battery, hybrid, and plug-in hybrid electric vehicle.

In terms of region, the global market for the battery management system for electric vehicles is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the largest market share during the forecast period owing to growing production of electric vehicles, establishing manufacturing facilities of automotive battery management system, and increasing investment by manufacturers such as Desay Corporation, BYD Co Ltd., and Denso Corporation for the development of the manufacturing facilities to meet the high demand for battery management systems in the region. Moreover, a growing population, increasing disposable income, and rising purchasing power of people are expected to boost the demand for battery management system for electric vehicles market in this region. Furthermore, in Asia-Pacific, China is projected to grow at a rapid pace over the forecast period due to the increasing per capita disposable income, large consumer base, and developing economy is expected to witness a rapid growth rate over the forecast period.

Europe is estimated to grow at a significant rate in battery management system for electric vehicles market during the forecast period owing to the presence of major players such as Robert Bosch GmbH (Germany), HELLA GmbH & Co. KGaA (Germany), and Infineon Technologies AG (Germany) are contributing to the growth of this market. The market in Europe is dominated by Germany and is projected to grow at a substantial rate over the forecast period due to the rising demand for e-bus from the municipality and educational institutions.

The market in North America is projected to witness significant growth over the forecast period. The growing electric vehicle infrastructure in the US and Canada is expected to support the growth of the market during the forecast period. In North America, the US is anticipated to grow at a faster rate than Canada over the forecast period due to stable economy, advanced technology, and the presence of major players like Texas Instruments Incorporated and Analog Devices, Inc. in the US.

The growing investing for the development of advanced battery management systems for the electric vehicles used in public transport such as cars and buses across MEA and South America is expected to fuel the market growth.

Scope of the Report

This study provides an overview of the global battery management system for electric vehicles market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global battery management system for electric vehicles market by system, component type, technology, application, vehicle type, and region.

• By System
  
  
  
  • Hardware
  
  
  • Software
  
  
  
  

• By Application
  
  
  
  • Passenger Car
  
  
  • Commercial Vehicle
  
  
  
  

• By Vehicle Type
  
  
  
  • Battery Electric Vehicle (BEV)
  
  
  • Hybrid Electric Vehicle (HEV)
  
  
  • Plug-in Hybrid Electric Vehicles (PHEV)
  
  
  
  

• By Regions
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • Rest of the World  
  
  
  
  

Key Players

The prominent players operating in the global battery management system for electric vehicles market are Panasonic Corporation (Japan), Amperex Technology Limited (China) Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), LG Innotek (South Korea), HELLA GmbH & Co. KGaA (Germany), BYD Co Ltd. (China), Texas Instruments Incorporated (US), Desay Corporation (China), Sunwoda Electronic Co. (China), Infineon Technologies AG (Germany), Analog Devices, Inc. (US), and LIGOO Reserved ICP (China).