Global Electric Vehicle Battery Management System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Electric Vehicle Battery Management System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Currently, lithium-ion batteries have proven to be the most ideal power source for pure electric vehicles due to their high charge density and low weight. Due to the large size of lithium-ion batteries, their working properties are very unstable. In addition, it is a combination of single cells, it is very difficult to monitor its voltage and current working conditions under any circumstances. In order to solve this difficulty, a special dedicated system is needed, called the battery management system (BMS). Also in order to obtain maximum efficiency from the battery pack, all batteries should be fully charged and discharged at the same voltage at the same time, which again requires the participation of BMS.

Market Overview:

The latest research study on the global Electric Vehicle Battery Management System market finds that the global Electric Vehicle Battery Management System market reached a value of USD 4682.33 million in 2022. It’s expected that the market will achieve USD 13828.23 million by 2028, exhibiting a CAGR of 19.78% during the forecast period.

Tight supply of raw materials

Affected by COVID-19, logistics will be suspended, and the supply of raw materials for Electric Vehicle Battery Management System will be tight. Production was stagnant, the company's inventory increased, and the production of related enterprises in the severely affected areas was greatly affected. The short-term epidemic has less impact on the supply of raw materials for enterprises, mainly consuming stock materials, and the long-term epidemic will cause incalculable losses. If the epidemic develops further and logistics is always unsatisfactory, small and medium-sized Electric Vehicle Battery Management System enterprises are likely to be shut down due to insufficient raw material supply, and even large enterprises will face the same problem. SMEs in crisis COVID-19 has a huge impact on the operation of the industry, of which the impact on

SMEs is more obvious.

The company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency. Some small and medium-sized enterprises are in trouble or even bankrupt.

Wireless Technology

The wireless battery management system integrates a radio frequency antenna on the circuit board, which can transmit data through a 2.4 GHz wireless protocol. For example, collect information from battery modules and send voltage and other measurement data to users. This transmission method is similar to Bluetooth, but with lower power consumption. If relevant problems are found, users can also communicate with the car company through the cloud. With the support of the wireless battery management system, users and cars can learn about the battery's operating conditions faster and better, including real-time driving data in extreme weather or usage conditions, and even data before these batteries are assembled in the car. In addition to acquiring and transmitting data, the wireless battery management system can also balance the charge in a single battery pack of an electric vehicle for optimal performance. In addition, the software system and battery nodes can be reprogrammed via OTA. Since there is no need to overhaul the management system, and there is no need to tamper with difficult-to-recycle wiring, the reuse of batteries becomes more convenient.

Internet of Things and Data Analysis Technology

The Internet of Things (IoT) and data analysis can help battery management systems achieve a wide range of system diagnostics, such as battery voltage, charging status, temperature monitoring, etc., and help end users gain health insights, continuous monitoring, and improve battery performance. By combining advanced electronics with IoT and data science for machine learning, BMS can predict its battery life and identify potential degradation/faults that cause it, and even fix them before delays/errors occur.

Region Overview:

In 2022, the share of the Electric Vehicle Battery Management System market in Europe stood at 43.81%.

Company Overview:

Tesla Motors is one of the major players operating in the Electric Vehicle Battery Management System market, holding a share of 19.66% in 2023.

Tesla Motors

Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla's current products include electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, as well as other related products and services.

CATL

Contemporary Amperex Technology Co. Limited, abbreviated as CATL, is a Chinese battery manufacturer and technology company founded in 2011 that specializes in the manufacturing of lithium-ion batteries for electric vehicles and energy storage systems, as well as battery management systems (BMS).

Segmentation Overview:

By type, Distributed segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Hybrid Electric Vehicles (HEVs) segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Electric Vehicle Battery Management System market covered in Chapter 3:

Tesla Motors
Ficosa
G-Pulse
Preh
Topband
LG Chem
Sunwoda
Denso
Continental
CATL
Joyson Electronics
BYD

In Chapter 4 and Chapter 14.2, on the basis of types, the Electric Vehicle Battery Management System market from 2018 to 2029 is primarily split into:

Distributed
Modular
Centralized

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electric Vehicle Battery Management System market from 2018 to 2029 covers:

Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)

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)