Battery Sensor Market Size, Share & Trends Analysis Report By Voltage, By Communication, By Vehicle Category, By Vehicle Type, By Region, And Segment Forecasts, 2024 - 2030

Battery Sensor Market Size, Share & Trends Analysis Report By Voltage, By Communication, By Vehicle Category, By Vehicle Type, By Region, And Segment Forecasts, 2024 - 2030

Battery Sensor Market Size & Trends

The global battery sensor market size was estimated at USD 3.46 billion in 2023 and is expected to grow at a CAGR of 11.0% from 2024 to 2030. The market consists of battery sensors that are used for monitoring the electric vehicle battery in the automotive industry. These sensors monitor and measure battery performance in order to help protect the vehicle and its components. Focus on battery safety and efficiency, evolving battery technology, and increasing adoption of electric vehicles are some of the key factors driving the battery sensor market’s growth.

Battery sensors enhance safety and efficiency by precisely measuring current, voltage, temperature, and calculate the battery's state of charge and function. They prevent issues like deep discharge, support CO2-saving technologies, and ensure a reliable power supply to critical vehicle systems. By maximizing battery life and supporting advanced vehicle features like predictive diagnostics, these sensors are crucial for vehicle electrification and automation. This functionality drives the growing adoption of battery sensors, contributing significantly to the market's growth.

In November 2023, United Safety & Survivability Corporation, an advanced safety solution provider, announced the launch of its latest innovation, a Lithium-Ion Battery Failure Detection System. This solution has the capability to detect battery failure at an early stage, which significantly increases battery safety. Such innovations are crucial for the growing adoption of electric vehicles, which rely on precise monitoring for optimal performance. With these technological advances, the demand for advanced battery sensors is rising, thus fueling the battery sensor market's growth.

The surging demand for electric vehicles (EVs) is fueling the need for advanced battery sensors, which are vital for ensuring optimal performance and longevity. These sensors offer real-time insights into vital metrics, ensuring efficient battery management and early detection of potential issues. The necessity for reliable battery management systems grows as EV adoption accelerates due to environmental and economic benefits. This heightened demand for efficient and safe battery operations is driving significant growth in the battery sensor market.

Despite the market's promising growth, one factor restraining the battery sensor market's growth is the high cost of advanced battery sensors, which can deter widespread adoption, especially in cost-sensitive markets. However, to overcome this challenge, industry players are investing in research and development to innovate and reduce production costs. Moreover, companies are also forming strategic partnerships to leverage shared resources and expertise, aiming to make advanced battery sensors more affordable. These efforts are expected to enhance market accessibility and support the continued growth of the battery sensor market.

Global Battery Sensor Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global battery sensor market report based on voltage, communication, vehicle category, vehicle type, and region.

• Voltage Outlook (Revenue, USD Million, 2018 - 2030)
• 12V
• 24V
• 48V
• Communication Outlook (Revenue, USD Million, 2018 - 2030)
• Local Interconnect Network (LIN)
• Controller Area Network (CAN)
• Vehicle Category Outlook (Revenue, USD Million, 2018 - 2030)
• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Vehicle Type Outlook (Revenue, USD Million, 2018 - 2030)
• BEV
• HEV
• PHEV
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Middle East & Africa (MEA)
• UAE
• Kingdom of Saudi Arabia (KSA)
• South Africa

Please note The report will be delivered in 4-8 business days upon order notification.