Automotive Battery Management System Market Overview
The global automotive battery management system market is forecasted to witness significant growth in the coming years, owing to increasing demand for hybrid electric and battery electric vehicles. The increase in the demand for these vehicles is a result of the implementation of stringent government regulations with respect to environment degradation and government incentives in the form of subsidies, grants, and tax rebates to encourage the use of eco-friendly modes of transportation.
Based on application, the automotive battery management system market is categorized into passenger cars, commercial vehicles, golf carts, and e-bikes. Of these, passenger cars held the largest share in the market in 2017, recording the highest sales volume. Besides, the category is expected to continue leading the market in the coming years, owing to increasing urbanization and rising disposable income of people in developing economies of the world.
On the basis of end use, the automotive battery management system market is categorized into OEMs and aftermarket. The OEM category registered higher sales volume in the market in 2017. Moreover, the market growth of this category is predominantly driven by the increase in the production of vehicles meant for personal use on account of the rising standard of living in developing countries.
APAC, led by China, recorded the highest sales volume in the automotive battery management system market in 2017. The region is expected to continue holding the largest market share in the coming years, mainly on account of China’s government policies and initiatives favoring the production of automobiles, particularly electric vehicles. India and Japan are also expected to play an important role in the growth of the APAC market in the near future. The government of many Asian countries has plan to end the production and sales of gasoline and diesel vehicles in coming years. This move is expected to increase the market of electric vehicles in the region, benefiting the growth of the market during the forecast period.
Automotive Battery Management System Market Dynamics
Drivers
Various environmental policies and regulations coupled with governments’ support in the form of subsidies, grants, and tax rebates are the key factors driving the growth of the automotive battery management system market. This is because the sales of hybrid electric and pure electric vehicles directly affect the market demand for automotive battery management systems. Governments, across the world, are working toward reducing carbon emission levels through the complete electrification of both public and private vehicles. In addition, environmental protection and awareness agencies are encouraging the adoption of eco-friendly vehicles, globally.
Restraint
Automotive battery management systems are used in electric passenger cars, electric commercial vehicles, and electric unmanned defense vehicles. The growth of the automotive battery management system industry primarily depends upon the growth of the electric vehicles industry; however, the lack of proper charging infrastructure for these vehicles is limiting their sales, which, in turn, is restraining the growth of the market. In addition, design complexities in components used for battery management system is another restraint affecting growth of the market.
Automotive Battery Management System Market Competitive Landscape
The global automotive battery management system market is witnessing a number of partnerships, collaborations, and mergers and acquisitions among major players. Apart from this, many automotive electronics providers have added battery management systems as one of their verticals to their business. Besides, the competition in the market is expected to increase in the near future. The market primarily comprises component vendors and battery management system manufacturers. Some of the key players in the market are Analog Devices Inc., NXP Semiconductors NV, AVL LIST GmbH, Texas Instruments Inc., Continental AG, HORIBA MIRA Ltd., Intel Corporation, Johnson Matthey PLC, Robert Bosch GmbH, and Toshiba Corporation.
