Market Research Report
Automotive Battery Management System Market to 2027 - Global Analysis and Forecasts by Vehicle Type (Bus, Truck, Off-highway Vehicle)
|Published by||The Insight Partners||Product code||918661|
|Published||Content info||200 Pages
Delivery time: 1-2 business days
|Automotive Battery Management System Market to 2027 - Global Analysis and Forecasts by Vehicle Type (Bus, Truck, Off-highway Vehicle)|
|Published: November 25, 2019||Content info: 200 Pages||
The global automotive battery management system market market accounted for US$ 18.62 Mn in 2018 and is expected to grow at a CAGR of 8.3% over the forecast period 2019-2027, to account for US$ 83.66 Mn by 2027. The automotive battery management system market outlook is positive, as the electric vehicles or fuel cell vehicles are gaining popularity among the end-users. Increasing adoption of these vehicles would enable the manufacturers to increase their production lines, thereby, requiring increased quantity of BMS. This factor is expected to drive the automotive battery management system market. Additionally, the presence of large number of well-established and automotive industry recognized players in the market is allowing the end-users to rely on the BMS products, which is also a key driving force of automotive battery management market.
the US, and several European countries are also gaining momentum in developing and deploying electric buses, electric LCV, and electric HCVs. The e-commerce industry has flourished in the US and various European countries, and also the consciousness related to environmental hazards caused by diesel powered vehicles has led the countries to witness growth in electric trucks. Rising production of electric trucks is driving the automotive battery management system market in the US and Europe. Moreover, the governmental regulations to transform public transportation system to electric or hybrid vehicles or fuel cell vehicles from ICE vehicles have positively impacted on the electric bus manufacturers. This in turn has multiplied the automotive battery management system market size. The US and European governmental initiatives to switch to electric vehicles is expected boost the automotive battery management system market in the coming years.
It was identified that vehicular emissions were the largest contributors to the pollution caused. As a result, Governments of different countries implemented a proposal wherein they would incentivise the company costs on the production of electric vehicles which reduces the emission considerably. The government is offering generous incentives to scale up EV production and sales. More importantly, China has offered generous terms to international automakers looking to establish their manufacturing plants in the country. Currently, as per few estimates, Chinas holds approximately 40% of the global market share in the EV production S. The alarming rate of pollution particularly in the major urban cities of China has propelled the car automakers in China to go completely electric. Chinese automakers manufactured close to 680,000 electric vehicles that includes cars, buses as well as trucks. This has driven the automotive BMS market growth at a rapid pace in the region.
The automotive battery management system market has been segmented on the basis of vehicle type and geography. On the basis of vehicle type which is sub segmented trucks, buses, and off-highway vehicles. Trucks are further bifurcated into light commercial vehicle (LCV) and medium & heavy commercial vehicle (M&HCV). Buses are sub segmented into school bus, transit bus, mini bus, and coach/motor coach. Off-highway vehicles are fragmented into dump trucks, loader, excavator, tractors, and others.
The market participants operating in the automotive battery management system market are Magneti Marelli S.p.A, Continental AG, Dana Incorporated, Gentherm Incorporated, Hanon Systems, Renesas Electronics Corporation, MAHLE GmBH, Robert Bosch GmBH, NXP Semiconductors N.V., and Valeo SA, among others.
The overall global automotive battery management system market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global automotive battery management system market. It also provides an overview and forecast for the automotive battery management system market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive battery management system market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the automotive battery management system market, thereby allowing players to develop effective long term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to vehicle type.