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: Aug, 2020
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The global automotive battery management system market size was valued at US$ 5.8 billion in 2021, and anticipated to grow at a CAGR of 16.2% over the forecast period. In order to ensure the safety of electric vehicles, a Battery Management System (BMS), which controls the electronics of a rechargeable battery, whether a cell or a battery pack, becomes necessary. By ensuring that the cell runs within its safe operating limitations, it protects both the user and the battery. BMS tracks the battery's State of Health (SOH), gathers data, regulates environmental elements that affect the cell, and balances them to maintain uniform voltage across cells.
A smart battery pack is a battery pack that has a BMS connected to a data bus or an external communication data transmission system. In order to provide details about the battery's power status, it may also include additional features and functions like fuel gauge integration, smart bus communication protocols, General Purpose Input Output (GPIO) options, wireless charging, embedded battery chargers, cell balancing, and protection circuitry. The device can use this information to intelligently conserve power.
Increased adoption of electric and hybrid vehicles, rising partnerships and collaboration for the development and integration of BMS, and increased government efforts to build out the infrastructure for electric mobility charging will all contribute to the market's growth during the forecast period. Additionally, surge in demand for intelligent battery management systems in advanced electric vehicles will also lead to the adoption of automotive BMS.
Due to the high cost of components, the integration of BMS into the vehicle raises the overall cost of vehicles. Therefore, it is anticipated that during the forecast period, such factors will restrain market expansion. Leading market companies are, therefore, constantly concentrating on the most recent developments to reduce the overall cost and design complexity of such battery control systems.
Battery Type Insights
By battery type, the global automotive battery management system market is classified into Lithium-ion, Lead-acid, Nickel, and Flow Battery. The Lithium-ion segment accounted for the major share in 2021 and will further expand at a steady CAGR during the projected period. Due to their high energy density, low self-discharge, light weight, and low maintenance requirements, lithium-ion batteries are frequently utilised in EVs. Owing to its high density, quick recharge times, and high discharge power, lithium-ion batteries are currently the only technology capable of achieving OEM specifications for vehicle driving range and charging time. Lead-based traction batteries are not competitive for use in full hybrid electric vehicles or electric vehicles due to their lower specific energy and heavier weight.
Connection Topology Insights
In terms of connection topology, the global automotive battery management system market is segmented into centralized, distributed, and modular. The modular connection topology segment of the automotive battery management system market is expected to grow at the highest rate during the forecast period. Various identical modules that are connected to numerous batteries or battery cells define modularized BMSs. In order to increase BMS functionality and provide a secure, dependable, and cost-effective solution for smart grids and electric vehicles, a modularized BMS is recommended. The electric vehicle's modularized BMS is described in and focuses on effective single-cell monitoring and balancing for a number of battery cells with a simple structure.
Propulsion Type Insights
In terms of propulsion type, the market is segmented into BEV, PHEV, and HEV. The BEV segment dominated the market share in 2021 and is expected to continue its dominance during the forecast period. Government policy favouring the purchase of battery-electric vehicles, increased deployment of battery charging stations in tourist and public areas, and declining BEV costs as a result of technology improvement are some of the factors fostering the segment's growth. In addition, the segment growth is probably being fuelled by the significant penetration of battery electric vehicles in important regions including the U.S., Europe, China, and others.
Regional Insights
In terms of region, ? Asia Pacific region accounted for the largest share in 2021 and is anticipated to continue to lead the global market over the forecast period. The market expansion in the region has been fostered by China's widespread use of electric vehicles. Additionally, rising commercial electric vehicle penetration in APAC's developing nations, such as India, South Korea, Japan, and others, is also anticipated to fuel market expansion in the coming years. For instance, the China Passenger Car Association reports that the country's total sales of passenger electric vehicles climbed by 169.1% from 2020 to around 2.99 million in 2021.
Furthermore, North America is expected to grow at a steady CAGR during the forecast period. The market is expanding significantly as a result of the U.S. sales of electric commercial and passenger vehicles. Additionally, the growing emphasis on the creation and adoption of electric autonomous vehicles and Robo-taxis is anticipated to contribute to a profitable growth rate during the projection period.
Key Companies Insights
Some of the major companies studied under the market scope are as follows: Robert Bosch GmbH, Continental AG, Toshiba Corporation, NXP Semiconductors, Denso Corporation, Intel Corporation, Analog Devices, Johnson Matthey, LG Chem, Midtronics, and Others. Major players operating in the ecosystem experiences strong competition owing to the presence of large number of players on global and regional scale. Further, the various strategies are adopted by these players such as merger and acquisition, new product launch, geographic expansion, research & development for expanding their product portfolio, and others.
In 2021, Texas Instruments (TI) announced a significant development in battery management systems (BMS) for electric vehicles (EVs), the industry's highest-performing wireless BMS solution with the first independently assessed functional safety concept.
Segments
By Battery Type
Lithium-ion
Lead-acid
Nickel
Flow Battery
By Connection Topology
Centralized
Distributed
Modular
By Vehicle Type
Passenger cars
Commercial Vehicles
By Propulsion Type
BEV
PHEV
HEV
