Automotive Battery Management System Market 2019 Global Trend, Segmentation And Opportunities Forecast To 2024

automotive battery management system market should reach $6.9 billion by 2023 at a compound annual growth rate (CAGR) of 14.7% for the period of 2018-2023.

PUNE, MAHARASHTRA, INDIA, December 4, 2019 /EINPresswire.com/ -- Automotive Battery Management System Industry

Description

Automotive battery management systems have become an inseparable part of the hybrid and battery electric vehicles. All these battery driven vehicle types depend partially or completely on the power support from battery packs. Modern day battery packs mostly use lithium ion battery chemistry apart from NiMH, and advanced lead acid batteries. Over the last decade the miles covered per charge for hybrid and electric vehicles has grown continuously in proportion to the energy density of the batteries they utilize. While at the same time the prices of battery packs have been declining continuously.

Hybrid and electric vehicles are becoming well established as an alternative to conventional IC engines. Current worldwide sales figures support this trend and suggest that the hybrid and electric vehicle market will grow strongly during the coming years. Forecasts of actual market volumes predict sales of more than REDACTED hybrid and electric vehicles combined by 2023. In 2017, Toyota sold more than one million hybrid vehicles worldwide. Hybrid technology has been most successful in Japan and the U.S. but is likely to gain popularity in Europe and China, among others. Electric vehicles have seen maximum growth in China and Europe along with the U.S.

Hybrid and electric vehicles can be divided into four major types of vehicles: mild hybrid, full hybrid, plug-in hybrid electric and battery electric that runs on battery alone. The differences are dictated by the performance of the electric motor, the size of the battery, the charging of the battery and presence or absence of the IC engine. In a mild hybrid system, the electric motor can provide support from 5 kWh to up to 20 kWh and is primarily used to start or accelerate at low engine speeds. The full hybrid system has a much stronger electric engine of 20 kWh to 60 kWh and can function at high speeds for short periods of time. Plug-in hybrid vehicles are similar to full hybrids but differ in their battery packs. A plugin hybrid has a much stronger engine of 60 kWh to 100 kWh and has larger batteries to support longer distance travel. The battery electric vehicle too uses a battery output from 22 kWh in smaller cars to more than 100 kWh in the largest battery used in Tesla cars. Unlike on-board charging for mild and full hybrids, a plug-in hybrid vehicle and electric vehicle can be charged externally and can act as a pure electric vehicle. In full hybrids and plug-in hybrids, the electric motor can be used to drive the vehicle without the aid of a conventional IC engine for a limited distance.

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Report Scope:

The scope of the report includes sizing of the automotive battery management system market and an analysis of global market trends, with market data for 2017, considering as the base year, 2018 as the estimate year and forecast for 2023 with projection of CAGR during 2018 to 2023. Market data is provided in terms of number of units and value at global and regional levels as well as select countries for battery management systems by major battery types and type of automobile. Estimated units are number of battery management systems installed by automotive manufacturers in a particular year; estimated values are values of installed units calculated from estimated number of units and price. Projected and forecasted values are in constant United States dollars, unadjusted for inflation.

The report focuses on assessment of automotive battery management systems and a detailed analysis of original equipment manufacturers and the related system providers. Market dynamics such as drivers, restraints, opportunities and challenges are also discussed in the report. The study forecasts the market value of the automotive battery management system market for key battery types like lithium ion, nickel metal hydride and other battery types including types of lead acid battery. The report also forecasts the market value of the automotive battery management system market for major automobile types like hybrid electric vehicles, plug-in hybrid electric vehicles and battery electric vehicles. With this report, automakers, tier-one suppliers, battery management solution providers, battery management system integrators and existing established suppliers will be guided when adopting suitable business strategies to retain their market positions. This data will also prove useful when planning actions to take advantage of opportunities to increase revenues and profitability by capitalizing on the growing automotive battery management system market. Values presented in the forecast tables represent the values of automotive battery management systems as purchased from suppliers by OEM companies, excluding the cost of marketing, assembling and distribution. In this report, the term “revenue” is equivalent to and is used interchangeably with purchase, demand and sales.

Report Includes:

- 60 data tables and 45 additional tables
- An overview of the global market and technologies for automotive battery management system
- Analyses of market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Description of properties of battery management system such as battery status supervision, battery operating parameter control, cell balancing in battery pack and damage protection
- Insights of advancements in battery technology and government targets to include green vehicles in state fleets and public transport
- Information on stringent safety norms for battery management system
- Comprehensive company profiles of major market players of the industry, including A123 Systems LLC, Analog Devices, Inc. (Linear Technology Corp.), Continental AG, Denso Corp., and Infineon Technologies AG

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