Bizizz Market Research has recently published a research report, “Automotive Battery Management System Market by Battery Type (Nickel Based, Lithium-ion Based, Advanced Lead Acid Based, and Flow Batteries), Vehicle Type (E-Bike, Electric Vehicle, and Golf Cart), Connection Topology (Centralized, Modular, and Distributed), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2024”.
As per the report, Global Automotive Battery Management System Market was valued at US$ 5.1 Bn in 2018 and it is anticipated to reach at market value of US$ 12.3 Bn by 2024, witnessing a CAGR of 19.4% during the forecast period. Key drivers of the market are increasing demand for electric bikes as well as electric vehicles.
Electric vehicles are expected to play an important role in the next era of the Automobile industry. Automotive battery management systems are used in Electric vehicles to maintain optimum health of rechargeable vehicles. Automotive battery management system manages the batteries of vehicles by monitoring the state of the vehicle battery, exercising the control on load environment and consequently balances the charging.
The Automotive Battery Management System market is anticipated to register a CAGR of over 19.4% during the forecast period.
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By Battery Type,Lithium-ion Battery Segment held a Prominent share in Global Automotive Battery Management System Market in 2018.
The lithium-ion batteries are gaining traction due to its unique features such as lower cost and higher power density. Lithium-Ion battery segment is expected to hold a maximum share of XX% during the forecast period. Prior Lead-acid batteries were significantly used, which did not have enough storage capacity per unit of mass. In any case, Lithium-ion batteries are difficult to manage due to its non-linear charge or discharge curve. The battery management system thus assists with notification of battery shut down or safety measure action. The Lithium-ion battery is significantly used in hybrid electric vehicles. The hybrid electric vehicle category is expected to reach an estimate of more than US$ 2.5 Billion by the end of the year of assessment (2027).
By Connection Topology, the Modular Topology Segment of Global Automotive Battery Management System Market Is Anticipated To Witness the Fastest CAGR during the Forecast Period
The Modular topology segment of the Battery management system market is expected to grow at the highest rate in the forecast period. Modular topology is also suitable for a variety of applications, for example in energy storage systems, industrial UPS, medical mobility vehicles, electric vehicle parts, and drones. Most manufacturers prefer modular topology as it offers significant computational power and is also safe as it does not require extensive wire harnesses. In addition, the increasing demand from these applications for modular topology is expected to drive the market at the highest rate between 2020 and 2025.
Asia Pacificis Anticipated to Dominate the Global Automotive Battery Management System Market during the Forecast Period
APAC region is expected to hold a maximum share of xx% during the forecast period. Most Asian countries’ Government plans to put an end to gasoline and diesel vehicle production and sales in the coming years. In 2017, APAC, led by China, posted the highest volume of sales on the market for automotive battery management. It is expected that the region will continue to hold the largest market share in the coming years, mainly due to Chinese government policies and initiatives in the favor of automotive production, particularly electric vehicles. This move is expected to improve the region’s electric vehicle industry, supporting market growth over the forecast period.
Global Automotive Battery Management System market was moderately consolidated with key players accounting for significant share in 2018. Prominent players operating in the Global Automotive Battery Management System Market are: Robert Bosch, Toshiba Corporation, NXP Semiconductors NV, Renesas Electronics Corporation, LG Chem Ltd., Midtronics Inc, Continental AG, Intel Corporation, Analog Devices Inc.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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