Global Automotive Battery System Assembly (BSA) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Automotive Battery System Assembly (BSA) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Automotive Battery System Assembly (BSA) is mainly composed of battery unit, battery management system (BMS), cooling fan and power-off device. The Automotive Battery System Assembly (BSA) is responsible for stably supplying electrical energy to the drive motor while storing the generated electrical energy as regenerative energy when the vehicle decelerates. The Automotive Battery System Assembly (BSA) operates separately for energy supply/disconnect, state-of-charge diagnostics, battery life prediction, and optimal temperature composition. Automotive Battery System Assembly (BSA) enhances the stability and drivability of electric vehicle batteries.

Market Overview:

The latest research study on the global Automotive Battery System Assembly (BSA) market finds that the global Automotive Battery System Assembly (BSA) market reached a value of USD 4930.49 million in 2022. It’s expected that the market will achieve USD 41179.6 million by 2028, exhibiting a CAGR of 42.44% during the forecast period.

Rising demand for electric passenger cars

In recent years, the explosive growth of new energy vehicles, the penetration rate has increased significantly. In the face of unfavorable circumstances such as the lack of cores of global car companies, rising raw material prices, and the new crown pneumonia epidemic, electric passenger vehicles have shown an unprecedented trend of popularity.

On the one hand, for consumers of electric passenger vehicles, measures such as new energy subsidies, purchase tax reduction and exemption policy support, local governments providing convenient policies such as road rights and license plates, and some car companies providing charging fee discounts are all constantly stimulating purchasing power.

On the other hand, electric passenger car manufacturers continued to make efforts, including the intensive release of new models, to meet the needs of C-end consumers. There are more options for electric passenger vehicles, and the products are more technological and safer. At the same time, long-range products are continuously launched to solve customers' mileage anxiety. In addition, more and more young people are willing to choose new energy vehicles as their first cars, and the demand for replacement and replacement of social backbones increases, and their willingness to buy new energy vehicles as their second car is also higher.

Electric passenger vehicles will also continue to drive the Automotive Battery System Assembly (BSA) industry during the forecast period.

Brand Barriers

The Automotive Battery System Assembly (BSA) industry has high brand barriers. On the one hand, the safety performance, stable performance, uniformity, and quick response capability of Automotive Battery System Assembly (BSA) products are the main principles for customers to select manufacturers. It usually takes a long time for a product to gain market inspection and customer acceptance. Only Automotive Battery System Assembly (BSA) manufacturers with strong overall strength and good brand advantages can gain the trust of customers.

On the other hand, most car companies choose the mode of fixed-point procurement from qualified suppliers. The whole car company will establish a fixed-point supply relationship with the supplier after confirming that its production line equipment, production process, management level, product quality, etc. can meet the requirements after certification and evaluation of the supplier. For example, Hyundai Mobis focuses on supporting group companies Hyundai and Kia.

Region Overview:

In 2022, the share of the Automotive Battery System Assembly (BSA) market in Asia-Pacific stood at 61.62%.

Company Overview:

Hyundai Mobis Co., Ltd is one of the major players operating in the Automotive Battery System Assembly (BSA) market, holding a share of 100% in 2022.

Hyundai Mobis Co., Ltd

As a global auto parts supplier, Hyundai Mobis focuses on autonomous driving, connectivity and electrification, and has become a leader in the era of smart travel. Based on three modular vehicle components (i.e., chassis, cockpit and front end), Hyundai Mobis strives to make driving safer and easier, and provides service parts that are best suited for the purpose. In addition, Hyundai Mobis is the first supplier in the world to adopt a high-flow production line for key components of hydrogen fuel vehicles, and has played a leading role in the development of this technology to full-scale mass production.

Sungwoo Hitech

Since 1977, SUNGWOO HITECH has continuously devoted all its energy and efforts to the development of new technologies in spite of multiple external and internal troubles. Sungwoo Hitech have established lightweighting technology, using new materials such as aluminum, CFRP, magnesium and giga steel. Sungwoo Hitech are committed to maintain and develop the essence of automobiles and keep pursuing our innovation for new technologies such as battery system assembly (BSA), hydrogen storage apparatus, thermal imaging camera and LiDAR.

Segmentation Overview:

As for product types, the greater or equal to 50 kWh segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Passenger Cars, with a market share of 83.17% in 2022.

Key Companies in the global Automotive Battery System Assembly (BSA) market covered in Chapter 3:

Hyundai Mobis Co., Ltd
SL
Sungwoo Hitech

In Chapter 4 and Chapter 14.2, on the basis of types, the Automotive Battery System Assembly (BSA) market from 2018 to 2029 is primarily split into:

greater or equal to 50 kWh
less than 50 kWh

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Automotive Battery System Assembly (BSA) market from 2018 to 2029 covers:

Passenger Cars
Commercial Vehicles

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)