Global Automotive Battery Management System Market was valued at US$ 3.16 Bn in 2018 and is expected to reach US$ 10.97 Bn by 2026, at a CAGR of 16.86% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Automotive Battery Management System Market, by Region
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Based on propulsion type, EV is estimated to hold the largest share of the market due to rising demand for the EV as the government is changing the rules for fuel-saving. The cost of fuels has increased the need for EVs around the globe. On the basis of vehicle types, the passenger car is expected to hold the largest share of the market during the forecast period as increasing urbanization, changing the lifestyle of the consumers, and rising disposable income of the consumers across the globe.
Growing demand for a battery management system for EV and IC engine vehicles can be attributed to its benefits such as considerable fuel savings and quick response. Various government bodies have imposed certain regulations to mandate EV adoption, instigating immense growth potential in the industry is boosting the market for BMS. BMS has features such as it protects the battery from damage, predicts battery life, and maintains the battery in an operational condition. These factors are fuelling the market of BMS. Demand for BMS is rising to improve the lifecycle of the battery is another factor for the growing market of BMS. Technological advancements are rising in EV and the automotive battery is also propelling the market. Changing lifestyles and increasing disposable income of consumers are major drivers of the BMS market.
Geographically, Asia-Pacific is expected to hold the largest share of the market during the forecast period. Production of an electric passenger car is rising in this region. China was counted among the largest automobile market in 2017 whereas India showcased a growth of the utility vehicles by almost 30% in the same year. The rising penetration of electric vehicles will further help in supporting the region’s dominance over the next eight years. Europe is estimated to generate the highest CAGR during the forecast period as the government is planning to restrict the usage of EVs and a large number of EVs are a sale in 2017 in this region.
Key player’s studies, analyzed, profiled, and benchmarked in Automotive Battery Management System Market are Robert Bosch GmbH, Denso Corporation, Panasonic Corporation, Analog Devices Inc., NXP Semiconductors NV, AVL LIST GmbH, Texas Instruments Inc., Continental AG, HORIBA MIRA Ltd., Intel Corporation, Johnson Matthey PLC, Toshiba Corporation., and Calsonic Kansei Corporation.
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Global Automotive Battery Management System Market, by Propulsion Type
• IC Engine Vehicle
• EV
Global Automotive Battery Management System Market, by Vehicle Type
• Passenger Car
• Commercial Car
Global Automotive Battery Management System Market, by Components
• Battery IC
• Battery Sensor
• Others
Global Automotive Battery Management System Market, by Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in Global Automotive Battery Management System Market
• Robert Bosch GmbH
• Denso Corporation
• Panasonic Corporation
• Calsonic Kansei Corporation
• Analog Devices Inc.
• NXP Semiconductors NV
• AVL LIST GmbH
• Texas Instruments Inc.
• Continental AG
• HORIBA MIRA Ltd.
• Intel Corporation
• Johnson Matthey PLC
• Toshiba Corporation
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