The automotive battery management system helps monitor battery usage and its performance. The system manages a rechargeable battery by controlling its operating area, balancing it, and protecting the battery. Also, the system controls the recharging of the battery in an electric vehicle. Various factors, such as improving battery longevity, temperature management, and data recording, are increasing automotive battery management systems globally. These BMS systems attract consumers and are gaining immense popularity.
Electric vehicles are gaining extreme traction worldwide owing to their various favorable aspects, such as the best solutions for a sustainable environment. The sales of EVs are expanding at a fast pace with the help of favorable government policies and subsidies. According to PWC, the global sales of battery electric vehicles (BEVs) rose by 121% in 2021 than 2020, among which China led the market with approximately about 3 million BEVs by 127% from 2020. These increased EV sales show consumers’ interest in BEVs over conventional ICE vehicles.
Furthermore, the increase in lithium-ion batteries is fueling the demand for battery management systems. Li-ion batteries provide high power density and low self-discharge. Also, they are available at a reduced cost. Improper disposal of batteries negatively impacts the environment. This encourages automotive manufacturers to reevaluate their use and invest in R&D of sustainable battery solutions. The rising consumer demand for more fuel-efficient automobiles has resulted in consistent technological advancements in electric and hybrid electric vehicles.
Government Initiatives in Adopting Battery Management Systems
Of late, notable initiatives have been promoted by government bodies for the adoption of cleaner transportation. A few countries, such as China, Japan, India, European Union, are taking steps to upsurge the adoption of EVs, particularly trucks and buses. In European Union, the ‘Energy Performance Buildings Directive’ is formed, which sets minimum standards for setting up charging infrastructure in buildings. Also, the ‘Clean Vehicles Directive’ is an initiative focused on the government’s procurement of electric buses. Japan has revised its fuel economy standards for trucks, and by this, the country can reduce 80% of its automotive greenhouse gas emissions by 2050.
The automotive battery management system advancements contribute to expanding vehicle range while constantly enhancing battery life and safety. All the significant Original Equipment Manufacturers (OEMs) are planning to boost electric vehicle production, which is estimated to create ample opportunities for the global automotive battery management system market. Increased demand for intelligent battery management systems has been observed among consumers. Advancements such as start/stop, electric power steering, and electronic braking systems have improved the battery’s power load. Thus, prioritizing all these electrical loads on a scale from comfort to safety level has been a significant problem in a vehicle’s electrical system. Intelligent battery management systems (IBMSs) have been gaining attention among automotive manufacturers and are widely adopted across the world. IBMS include advanced electronics such as battery sensors that measure the state of charge (SOC), state of health (SOH), and temperature across a cell, connected in series and parallel arrays in a vehicle battery pack.
A recent trend in battery management systems is wireless battery management systems, which benefit in limiting the complexities associated with wiring methods presently being used in multi-cell battery packs. Wireless connectivity provides many advantages, such as low costs, high reliability, and less weight. Continuous technology advancements in battery chemistry and expanding production capacity of electric vehicle manufacturing plants are leading to cost cuts and thus increasing the growth of EVs.
Various technological advancements in this market are given below:
- In January 2022, Bird Global, Inc. developed an innovative battery management system that helps power millions of micro-electric vehicle (EVs) trips worldwide.
- In February 2022, Innovation Labs launched the BaMoS battery management system, which employs ultra-thin printable temperature and pressure sensors to put up comprehensive battery information at the individual cell level, which can be utilized to enhance battery lifespan by up to 40%.
- In May 2022, Mareli Holdings Co., Ltd. expanded its EV battery management technologies by launching Wireless Distributed Battery Management System (wBMS).
- In February 2022, FlexGen, a US-based energy storage firm, introduced the launch of its new EV charging stations equipped with integrated battery energy management systems.
Potential Players Continental AG, Dana Limited, Hanon Systems, Mahle Gmbh, Renesas Electronics Corporation, and Valeo SA are among the potential players leading the global automotive battery management system market. They are simultaneously improving the BMS to expand the consumer base and grab their attention. Also, automotive manufacturers are focusing on R&D to enhance the performance of electric vehicles. Rising partnerships and collaborations between the players are bolstering market growth. For example, in September 2022, Castrol and Sprint Power collaborated on a project to launch modules of ultra-fast charging battery for electric and hybrid vehicles. In November 2019, Volkswagen used the Continental in-car application server in ID electric vehicles. Also, in March 2022, Aston Martin and Britishvolt announced a collaboration to create next-generation battery technology for high-performance cars. Moreover, various startups are also emerging in this potential market.
Nibha Jain is an experienced content writer with skills in writing in several domains. She has good knowledge of writing content related to market research reports and has also worked in the field of digital marketing and business. Presently, she is a content writer @The Insight Partners.