Dublin, May 28, 2019 (GLOBE NEWSWIRE) -- The "Europe Electric Vehicle Battery Management System Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

Europe is one of the largest markets for electric vehicles across the world, where the demand for electric cars is growing rapidly in every country, which is in turn fueling the demand for battery management systems in the region.

In 2017, Europe noticed more than 279 thousand unit sales of plug-in hybrid and battery electric cars, with an increase of 40% from 2016.

• Plug-in hybrid car sales recorded nearly 144 thousand units in 2017, with an increase of 33% from 2016.

• Battery electric car sales recorded nearly 135 thousand units in 2017, with an increase of 49% from 2016.

The countries, like Germany, Norway, the United Kingdom, and France captured nearly 70% of the market share in European hybrid and electric car sales in 2017.

• Germany experienced approximately 117% increase in the hybrid and electric car registrations, with 54 thousand units in 2017 from 2016.

• Norway documented the highest hybrid and electric car registrations, reaching 62 thousand units in 2017, with an increase of 40% from 2016.

• In 2017, the United Kingdom witnessed 47 thousand unit sales of hybrid and electric cars, an increase of 28% from previous year.

Owing to the growing sales of hybrid and electric passenger cars, automobile manufacturers plan to extend their battery management system production capacities over the forecast period.

Norway is Expected to Continue to Dominate the Europe Electric Vehicle Battery Management System Market

Norway is a leader in the deployment of electric cars. The country's electric cars run almost exclusively off the country's copious hydropower resource. Nearly a third of all new cars sold in the country in 2018 was expected to be a plug-in model either fully electric or a hybrid, and experts expect the share to rise to as much as 40% in 2019.

The Norwegian parliament has set a target that all new cars must have zero emissions by 2025. However, such enthusiastic embracing of electric vehicles by ordinary Norwegians is not all down to ecological benefits but something more simple, money. Meanwhile motorists are typically subject to punitive levels of taxation, those who buy a purely electric vehicle are rewarded with a string of incentives worth thousands of pounds. Buyers escape heavy import or purchase taxes and are also exempted from 25% VAT.

Apart from Norway, Germany is also witnessing increased demand for electric vehicles, which in turn, is expected to drive the growth of the market studied. The government launched a USD 350 million program in 2017, to install DC fast chargers around the country, and Tesla has begun rapidly building out its Supercharger network. The German government has funded for the development of a nationwide fast-charging network long ago, the results of the funding are now being used by thousands of new electric-car drivers each month.

Competitive Landscape

The European electric vehicle battery management system market is highly consolidated, with major players, like Denso, Bosch, Continental, and Panasonic Corporation. Denso Corporation had dominated the market studied. The powertrain division of Denso in 2017 was worth JPY 1,260.6 million. The company is planning to capture nearly 30% of global electrification market share by 2025. In order to achieve the aforementioned market share, the company is eyeing on Europe electric vehicle business and is trying to expand the battery management system division. Other players in the market studied include Hitachi Automotive system, Calsonic Kansei Corporation, etc.

Key Topics Covered:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Propulsion Type
5.1.1 Hybrid
5.1.2 Electric
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicle
5.3 Geography

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Denso Corporation
6.3.2 Robert Bosch GmbH
6.3.3 Panasonic Corporation
6.3.4 LG Chem Ltd
6.3.5 Calsonic Kansei Corporation
6.3.6 Hitachi Automotive Systems Ltd
6.3.7 Mitsubishi Electric Corporation
6.3.8 Continental AG
6.3.9 Lithium Balance
6.3.10 Preh GmbH

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/wc2lh1

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Related Topics: Automotive Batteries, Electric and Hybrid Vehicles

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