Global Automotive Battery Management System Market Report and Forecast 2024-2032

Global Automotive Battery Management System Market Size

The global automotive battery management system market reached a value of approximately USD 6.94 billion in 2023. The market is further expected to grow at a CAGR of 13.60% between 2024 and 2032, reaching a value of USD 21.97 billion by 2032.

Automotive Battery Management System Market Outlook

• The integration of artificial intelligence (AI) and machine learning (ML) in ABMS is gaining traction in the market. Wipro's AI/ML-based predictive model for forecasting EV battery health has an accuracy of 96%.

• The market is witnessing advancements in battery management system technologies, such as the development of cloud based BMS and wireless BMS.

• In the United States, about 100 million auto batteries are replaced, which highlights the importance of efficient battery management systems in ensuring the safe use of batteries.

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Automotive Battery Management System Market Growth

An automotive battery management system accurately optimises, monitors, and protects the performance of the batteries of an automotive. It manages the electronics of battery packs and cells, thus ensuring the vehicle safety. It also ensures that the cell operates within the safe operating parameters, therefore safeguarding both the battery and the user.

The key drivers shaping the automotive battery management system market are the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), driven by environmental concerns, regulatory mandates, and technological advancements. Additionally, the expansion of EV charging infrastructure worldwide further accelerates market growth.

Key Trends and Developments

Rising adoption of EVs, demand for intelligent battery management systems (IBMSs), and advancements in technologies are factors fuelling the automotive battery management system market expansion

May 2024

Marquardt has developed a new Cell Module Controller (CMC) that monitors individual battery cells in real time to optimise battery performance and prevent failure. The technology is poised to revolutionise the way batteries are managed and used in various industries.

May 2024

Jaguar Land Rover (JLR) has entered into a multi-year agreement with Fortescue to integrate its advanced battery intelligence software, Elysia, into JLR's next-generation electric vehicles. This collaboration aims to enhance the performance, safety, and longevity of the batteries in JLR's luxury EVs.

May 2024

Infineon Technologies has introduced a new microcontroller, the PSoC 4 High Voltage Precision Analog (HVPA)-144K to improve automotive battery management capabilities. The highly integrated MCU manages 12 V lead-acid batteries, ensuring accurate battery health.

October 2023

Infineon Technologies and Eatron Technologies partnered to integrate advanced ML algorithms into the AURIX TC4x microcontroller (MCU). The partnership aims to improve battery management systems (BMS) for EVs by overcoming challenges such as range anxiety, charging speed, and battery health.

Integration of advanced technologies in BMS

Another factor augmenting the automotive battery management system market growth is technological advancements in automotive battery management systems. Market players are developing ABMS with higher energy density, longer life cycle, greater efficiency, and better performance at high temperatures.

Growing demand for electric vehicles in Asia-Pacific and Europe

A key trend in the market include rising adoption of electric vehicles as they generate fewer greenhouse gasses and air pollutants as compared to vehicles operating upon diesel and petrol. In May 2023, Sensata Technologies launched a compact BMS with advanced software features for low-voltage EVs.

Increasing demand for intelligent battery management systems (IBMSs)

The rising demand for intelligent automotive battery management systems is projected to influence the automotive battery management system market development. Advanced intelligent technologies include digital-twin battery pack, self-reconfigurable batteries, and battery swapping technology, among others.

Growing emphasis on vehicle electrification in emerging economies

Governments in many regions are implementing policies to promote the adoption of electric vehicles, and companies are investing in production capacity to meet the increasing demand. This growing emphasis on vehicle electrification is driving the demand for battery management systems.

Automotive Battery Management System Market Trends

The demand for intelligent battery management systems (IBMSs) has been growing significantly due to the need for advanced battery monitoring. IBMSs provide real-time monitoring of battery state of charge (SOC), state of health (SOH), and temperature, ensuring accurate measurements even during rapidly changing vehicle conditions. This trend is driven by the increasing adoption of electric vehicles and hybrid electric vehicles, driven by stringent emission regulations and consumer awareness about environmental concerns. which require efficient and advanced battery management systems to ensure optimal performance and safety.

According to automotive battery management system market report, these trends are expected to boost the growth of the market. Recently, Hella announced a joint venture with Evergrande Group to develop high-voltage battery management systems, and Sharda Motor Industries Limited (SMIL) and Kinetic Green Energy and Power Solutions Limited entered a joint venture to develop battery packs with battery management systems for EVs and stationary applications in India.

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Automotive Battery Management System Industry Segmentation

The EMR’s report titled “Automotive Battery Management System Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Battery Type

• Lithium-Ion Based

• Lead-Acid Based

• Nickel-Based

• Others

Market Breakup by Vehicle Type

• Passenger Vehicle

• Commercial Vehicle

Market Breakup by Component

• Battery IC

• Battery Sensor

• Others

Market Breakup by Propulsion Type

• IC Engine Vehicle

• Electric Vehicle

Market Breakup by End-Use

• OEM

• Aftermarket

Market Breakup by Region

• North America

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa

Automotive Battery Management System Market Share

The electric vehicle segment is contributing to market’s growth, driven by the increasing adoption of electric vehicles in all regions

Based on propulsion type, electric vehicles are expected to account for a sizable share of the market due to the rising requirement of cost-efficient vehicles for daily commutes. Adoption of electric vehicles is also rising due to the increasing fuel prices and knowledge about the harmful effects on the environment of vehicles operating on fossil fuels. Furthermore, the running and maintenance costs of EVs are significantly lower than their fossil fuel requiring counterparts.

The IC engine vehicle segment also play a significant role in the automotive battery management system market due to the ongoing demand for traditional vehicles and the need for efficient battery management systems in these vehicles. Robert Bosch GmbH has developed advanced BMS solutions for IC engine vehicles, focusing on optimising performance, reducing emissions, and improving overall vehicle efficiency.

Lithium-ion batteries dominate the market due to their widespread adoption in electric vehicles and hybrid electric vehicles

Based on battery type, the dominant segment is lithium-ion based batteries, driven by their widespread adoption in electric vehicles (EVs) and hybrid electric vehicles (HEVs). Lithium-ion batteries offer high energy density, long lifespan, and efficient charging capabilities, making them the preferred choice for electric vehicles.

Lead-acid based batteries, on the other hand, are primarily used in conventional internal combustion engine vehicles. As per automotive battery management system market analysis, they offer lower cost and simpler technology compared to lithium-ion batteries but have lower energy density and shorter lifespan. Nickel-based batteries are a smaller segment in the market, used primarily in hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs). They offer improved energy density and lifespan compared to lead-acid batteries but are more expensive than lithium-ion batteries.

Leading Companies in the Automotive Battery Management System Market

Market players are engaged in research and development activities to enhance BMS performance and strategic partnerships, collaborations, and acquisitions to expand their market presence

Robert Bosch GmbH, established in 1886 and headquartered in Gerlingen, Germany, is one of the leading suppliers of technology and services. Their specialities include industrial technology, artificial intelligence, energy and building technology, consumer goods, sustainable technologies, and mobility solutions, among others.

Continental AG is a motor vehicle manufacturing company that was founded in 1871 and is based in Hanover, Germany. They develop pioneering technologies and services offering intelligent, safe, affordable, and efficient solutions for machines, vehicles, transportation, and traffic.

Hitachi Ltd (Hitachi High-Tech Corporation) is an appliances, electricals and electronics manufacturing company that was established in 1947 and is headquartered in Tokyo, Japan. It markets electron microscopes and medical systems, industrial and IT systems, life sciences, analytical systems, and semiconductor manufacturing equipment for various industries.

Marelli Holdings Co., Ltd. was founded in 1938 and is based in Saitama, Japan. Its product portfolio includes cockpit modules and interior products, climate control systems, compressors, heat exchange products, electronic products, and exhaust systems. It also provides business revitalisation and restructuring services to support its customers and partners.

Other key players in the global automotive battery management system market include NXP Semiconductors N.V., Denso Corporation, Panasonic Holdings Corporation, Johnson Matthey, Analog Devices, Inc., and LG Chem Ltd (LG Energy Solution Ltd), among others.

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Automotive Battery Management System Market Analysis by Region

Asia-Pacific is expected to be the fastest-growing region in the market, owing to the increasing adoption of EVs and HEVs in countries like China, Japan, and India

The Asia Pacific region is anticipated to account for a significant share of the market, supported by the growing demand for electric vehicles in the region. Various initiatives are being taken by governments of countries in the Asia Pacific region to reduce the emission of air pollutants and greenhouse gasses, which are further bolstering the adoption of electric vehicles for public transportation. Additionally, the expansion of the automotive sector in countries such as India and China are also boosting the requirement for automotive battery management systems.

Meanwhile, the automotive battery management system market share in North America is driven by the increasing demand for commercial and passenger vehicles in United States. The presence of major automotive manufacturers with manufacturing facilities in the region also contributes to the growth. The region is also witnessing an increasing demand for electric vehicles as in 2022, General Motors announced plans to launch 20 new electric vehicles by 2025. This has further boosted the demand for battery management systems.

Key Highlights of the Report

Automotive Battery Management System Market Report Snapshots

Automotive Battery Management System Market Size

Automotive Battery Management System Market Growth

Automotive Battery Management System Market Trends

Automotive Battery Management System Market Share

Automotive Battery Management System Companies

Automotive Battery Management System Market Regional Analysis