DUBLIN--(BUSINESS WIRE)--The "Automotive Battery Management System Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global automotive battery management system market.
The global automotive battery management system market is expected to grow from $3.53 billion in 2021 to $4.13 billion in 2022 at a compound annual growth rate (CAGR) of 16.8%. The automotive battery management system market is expected to grow to $7.81 billion in 2026 at a compound annual growth rate (CAGR) of 17.3%.
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Major players in the automotive battery management system market are Robert Bosch GmbH, Continental AG, Toshiba Corporation, Intel Corporation, NXP Semiconductors NV, Analog Devices Inc., Johnson Matthey Inc., Renesas Electronics Corporation, Texas Instruments Inc., Lithium Balance A/S, Midtronics Inc., AVL List GmbH, Preh GmbH, Denso Corporation, and Leclanche.
The automotive battery management system market consists of sales of automotive battery management system by entities (organizations, sole traders, and partnerships) that are used to monitor the temperature across the pack, and open and closes various valves to maintain the temperature of the overall battery within a narrow temperature range to ensure optimal battery performance. An automotive battery management system refers to an electronic system that manages a rechargeable battery to ensure it operates safely and efficiently.
The main types of automotive battery management systems include centralized automotive battery management systems, distributed automotive battery management systems, and modular automotive battery management systems. Centralized automotive battery management systems refer to systems, in which entire functionality is integrated into a single module, which is connected to batteries or battery cells through a series of wires.
The different vehicle types utilizing automotive battery management systems include IC engine vehicles, and electric vehicles (HEV, PHEV, and BEV). The types of vehicles adopting automotive battery management systems include passenger cars and commercial vehicles. The automotive battery management systems are sold through different sales channels, which includes OEM and aftermarket.
Asia Pacific was the largest region in the automotive battery management system market in 2021, it is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive battery management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increased adoption of electric vehicles globally is expected to propel the growth of the automotive battery management system market during the forecast period. An electronic vehicle refers to a vehicle that uses an electronic motor instead of an internal combustion engine. An automotive battery management system helps electronic vehicles by ensuring that the battery is protected and any operation out of its safety limit is prevented and by monitoring the battery pack's state of charge (SOC) along with the state of health (SOH).
For instance, according to Argonne National Laboratory, a US-based department of energy multidisciplinary science and engineering research center, in March 2021, Americans purchased 75,959 Hybrid-Electric Vehicles (HEVs). Further, according to International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric cars topped 2.1 million globally in 2019. Therefore, the increased adoption of electric vehicles globally is predicted to boost demand for automotive battery management systems during the forecast period.
Strategic partnerships are a key trend gaining popularity in the automotive battery management system market. Many companies operating in the automotive battery management system market are undergoing partnerships to strengthen their position in the automotive battery management system market.
The countries covered in the automotive battery management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
For more information about this report visit https://www.researchandmarkets.com/r/w5g9sj
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