Increasing Adoption of Electric & Hybrid Vehicles to Aid Automotive Battery Management System Suppliers

Automotive battery management systems are electronic systems that can manage a set of rechargeable batteries from a series of incidences, including monitoring, calculating & reporting secondary data, controlling the ecosystem, and authenticating & balancing the entire system. These systems are integrated with an external communication data bus. Frequently, they are recharged by a smart battery charger. They often preserve functions such as voltage, temperature, coolant flow, and in-flow and out-flow of the current. The latest system can often be connected to a laptop or Human-Machine Interface (HMI) for maintenance and other regulating purposes. According to Fortune Business Insights, the market for automotive battery management system is projected to grow from USD 5.1 billion in 2021 to USD 16.7 billion by 2028, at a CAGR of 18.4% during the 2021-2028 period.

The flourishing state of automotive battery management systems is due to the increasing adoption of electric & hybrid vehicles and rising urbanization. Additionally, growing consumer spending capacity and rising local commute requirements will increase the market's footprint during the forecast period. Shifting preference of consumers toward technologically & green mobility solutions will boost the market growth. Technological advancements in designs, leading to compactness in form will fuel the market growth. However, higher cost of the system will limit the market growth.

COVID-19 Impact: Lockdowns & Production Delays to Limit Market

The COVID-19 pandemic affected the supply & logistics sector intensely, as various lockdowns and restrictions on movement of the general population were imposed. Different supply chains were severely affected as global trade routes had to be re-routed. Only healthcare-related supplies were allowed for transportation globally, thereby triggering production delays in projects. Less commute was observed due to strict social distancing policies. Limited workforces were allowed to operate, which led to decreased output. However, with the pandemic looming, the market is expected to revive since the dominant automotive battery management system suppliers in this market register an optimistic trend in terms of revenue.

Fortune Business Insights™ Notes the Top 5 Automotive Battery Management System Suppliers Globally:

1. Bosch Corporation (Gerlingen, Germany)

Bosch Corporation is a multinational engineering & technology firm that operates within industrial technology & energy, mobility (hardware & software), and consumer goods. In 2020, the company generated a turnover of USD 50,424.12 million from its mobility solutions center, which accounted for 60% of the consolidated revenue. In 2021, it unveiled its passenger segment portfolio for electrification, which includes e-axel, advanced driving modules, battery management & thermal management system, and fuel management & cell systems. The company also announced that the production of these systems will initiate in 2022, followed by the launch of fuel-cell systems in 2023.

2. Continental AG (Hanover, Germany)

Continental AG is a Germany-based multinational manufacturing organization specializing in manufacturing interior electronics, powertrain & chassis components, brake systems, automotive safety equipment, tires, and other parts. It serves various automotive and transportation sectors. The company generated a revenue of approximately USD 9,600 million in 2020 from the vehicle networking & information sector, which marked as 21% of the total revenue. In August 2021, Continental AG and Varta announced a collaborative effort toward developing the next generation of powerful and effective batteries for two-wheelers. The development can be integrated into a two-wheeler application by combining an advanced BMS from CES.

3. Panasonic Corporation (Kadoma, Japan)

Panasonic Corporation is considered one of Japan’s superior electronic companies and currently offers electronic products and solutions. Its name until 1^st October 2008 was Matsushita Electrical Industrial, which was later changed to Panasonic Corporation. In 2020, the company generated a revenue of USD 67,436 million, which decreased by USD 4,611 million, or around 6.3% from the previous year. In 2019, Panasonic Corporation developed a battery management technology for evaluating the residual value of lithium-ion batteries. It further developed a new Battery Monitoring Integrated Circuit (BMIC).

4. Intel Corporation (California, U.S.)

Intel Corporation was ranked 45^th in the 2020 Fortune 500 list as one of the largest U.S. Corporations in revenue from 2007 to 2016. In 2019, Intel announced that it released the first Battery Management System’s (BMS) reference design & application note in collaboration with the University of Pisa. The BMS integrates an FPGA-based real-time control that manufacturers can extend over other functions such as battery health monitoring and cell balancing. The system uses a Dual Extended Kalman Filter (DEKF) algorithm to estimate the SOC values for 96 cells by using a MAX 10 development kit.

5. Denso Corporation (Aichi, Japan)

Denso Corporation is a multinational automotive component manufacturer established in 1949 as Nippon Denso Co. Ltd. After separating from Toyota, it became an individual entity, which still owns 25% of the current organization. Denso Corporation operates 200 consolidated subsidiaries in Japan, North America, Europe, Asia, and Oceania. In October 2020, Denso developed the next-generation battery monitoring integrated IC for lithium-ion batteries. The battery IC aims to increase the efficiency of EVs and hybrid vehicles by extending the range. It was also touted as the world’s first IC to detect battery voltage while monitoring multiple cells.   

Rising Trend of Intelligent Battery Management Systems to Gain Traction

This system integrates and discharges its power by operating various functions, including electric power steering, start/stop, EBS, and others. This leads to uneven power distribution over an extended duration. Dominant automotive battery management system suppliers are focused on prioritizing electrical dispensation to encompass all necessary electrical demands. The necessity for an intelligent battery system is expected to take over the sector in terms of a global perspective that govern SOCs, SOHs, and temperature across cell assays connected in series & parallel connections.