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Europe Electric Vehicle Battery Management System Market: By Vehicle Type: Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV); By Battery Type: Lithium-Ion Battery, Lead-Acid Battery, Others; By Application Type; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Europe Electric Vehicle Battery Management System Market Outlook
The Europe electric vehicle battery management system market size reached approximately USD 3.88 billion in 2023. The market is estimated to grow at a CAGR of 23.0% in the forecast period of 2024-2032, reaching a value of around USD 26.57 billion by 2032.
Key Trends in the Market
A battery management system (BMS) is an electronic system which ensures the proper management of rechargeable batteries in EVs (electric vehicles) and HEVs (hybrid electric vehicles). Its primary function includes regulating current, temperature, and voltage, hence minimising safety risks and optimising the battery.
- The growing focus on enhancing the energy density of lithium-ion batteries in EVs is one of the key Europe electric vehicle battery management system market trends. BMS extends the range of EVs by optimising battery performance and ensuring the balanced charging and discharging of cells.
- Thermal management is another crucial aspect of the battery management system that regulates the operating temperature of the battery, reduces the risk of overheating, and ensures the longevity of the battery.
- Increased integration of AI and machine learning in BMS to collect real-time data, enable data analysis, and facilitate predictive maintenance to gather valuable insight for improving the battery reliability and performance also provides impetus to the Europe electric vehicle battery management system market growth.
- Stringent government initiatives to improve the domestic supply chain of EVs are expected to positively influence the market in the forecast period. For example, in Nov 2023, the UK government unveiled an EV battery strategy that aims to improve sustainable battery development as well as support the production of zero-emission vehicles.
Market Analysis
Based on vehicle type, the market is classified into hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and battery electric vehicle (BEV). On the basis of battery type, the market is divided into lithium-ion battery and lead-acid battery, among others.
The Europe electric vehicle battery management system market segmentation, based on application type, includes passenger cars and commercial vehicle. The major countries of EV battery management system in Europe include Germany, the United Kingdom, France, and Italy, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Europe electric vehicle battery management system market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Denso Corp
- Robert Bosch GmbH
- Continental AG
- Panasonic Corp.
- Mitsubishi Electric Corp.
- LG Corp.
- Hitachi Ltd.
- Preh GmbH
- Sensata Technologies, Inc. (Lithium Balance)
- Marelli Holdings Co., Ltd.
- Others
Market Share by Vehicle Type
Battery electric vehicles (BEVs) occupy a significant portion of the Europe electric vehicle battery management system market share, due to rising efforts by several governments in the EU to deploy BEVs as a primary means of transportation.
Furthermore, growing number of environmentally conscious consumers fuels the demand for battery electric vehicles. As BMS plays a critical role in monitoring the battery performance and ensuring its safe operations, the segment’s growth is likely to rise in the coming years.
Market Share by Battery Type
As per the Europe electric vehicle battery management system market analysis, lead-acid batteries account for a substantial share of the market, due to their high affordability and reliability. Their high power-to-weight ratio also makes them an attractive option for lightweight electric cars.
Europe has an established infrastructure for recycling lead-acid batteries, which makes them a preferable choice for EVs compared to lithium-ion batteries. Meanwhile, lithium-ion batteries are anticipated to foresee sizeable growth in the coming years, owing to their high energy density.
Competitive Landscape
Denso Corp, founded in 1949, is an automotive company, with its headquarters in Aichi, Japan. It offers a wide range of products and services such as air conditioning systems, power-train systems, safety and cockpit systems, and other automotive parts. The company is well known for providing automotive parts to brands such as Ford, Honda, Toyota, and Volvo, among others.
Panasonic Corp. is a global electronics company, established in 1918 and based in Osaka, Japan. Throughout the years, the company has evolved as a consumer electronics provider with a growing focus on carbon neutrality. Some of its primary products include air conditioners, refrigerators, washing machines, and other electronic components.
Mitsubishi Electric Corp., incorporated in 1921 and headquartered in Tokyo, Japan, is an electronics and electrical equipment company. The company is renowned for its automotive equipment, building systems, energy systems, transportation systems, and visual information systems. Its mobility solutions comprise communication technology, imaging technology, control, and power electronics, among others.
Other Europe electric vehicle battery management system market players include Robert Bosch GmbH, Continental AG, LG Corp., Hitachi Ltd., Preh GmbH, Sensata Technologies, Inc. (Lithium Balance), and Marelli Holdings Co., Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Vehicle Type |
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| Breakup by Battery Type |
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| Breakup by Application Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Electric Vehicle Battery Management System Market Overview
8.1 Key Industry Highlights
8.2 Global Electric Vehicle Battery Management System Historical Market (2018-2023)
8.3 Global Electric Vehicle Battery Management System Market Forecast (2024-2032)
8.4 Global Electric Vehicle Battery Management System Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Europe Electric Vehicle Battery Management System Market Overview
9.1 Key Industry Highlights
9.2 Europe Electric Vehicle Battery Management System Historical Market (2018-2023)
9.3 Europe Electric Vehicle Battery Management System Market Forecast (2024-2032)
10 Europe Electric Vehicle Battery Management System Market by Vehicle Type
10.1 Hybrid Electric Vehicle (HEV)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Plug-In Hybrid Electric Vehicle (PHEV)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Battery Electric Vehicle (BEV)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Europe Electric Vehicle Battery Management System Market by Battery Type
11.1 Lithium-Ion Battery
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Lead-Acid Battery
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Others
12 Europe Electric Vehicle Battery Management System Market by Application Type
12.1 Passenger Cars
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial Vehicle
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Europe Electric Vehicle Battery Management System Market by Country
13.1 Germany
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Kingdom
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 France
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Italy
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Denso Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Robert Bosch GmbH
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Continental AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Panasonic Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Mitsubishi Electric Corp.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 LG Corp.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Hitachi Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Preh GmbH
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Sensata Technologies, Inc. (Lithium Balance)
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Marelli Holdings Co., Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Vehicle Battery Management System Market: Key Industry Highlights, 2018 and 2032
2. Europe Electric Vehicle Battery Management System Market: Key Industry Highlights, 2018 and 2032
3. Europe Electric Vehicle Battery Management System Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
4. Europe Electric Vehicle Battery Management System Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
5. Europe Electric Vehicle Battery Management System Historical Market: Breakup by Battery Type (USD Billion), 2018-2023
6. Europe Electric Vehicle Battery Management System Market Forecast: Breakup by Battery Type (USD Billion), 2024-2032
7. Europe Electric Vehicle Battery Management System Historical Market: Breakup by Application Type (USD Billion), 2018-2023
8. Europe Electric Vehicle Battery Management System Market Forecast: Breakup by Application Type (USD Billion), 2024-2032
9. Europe Electric Vehicle Battery Management System Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Europe Electric Vehicle Battery Management System Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Europe Electric Vehicle Battery Management System Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.88 billion.
The market is projected to grow at a CAGR of 23.0% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 26.57 billion by 2032.
The major market drivers are the growing adoption of EVs across Europe, favourable government policies focused on the decarbonisation of the transportation sector, and the rising demand for sustainable transportation.
The key trends of the market include a growing focus on enhancing the energy density of lithium-ion batteries in EVs, increased adoption of AI and machine learning technology, and stringent government policies aimed at bolstering the adoption of EVs.
The major regions in the market are Germany, the United Kingdom, Italy, and France, among others.
Different vehicle types are hybrid electric vehicle (HEV), plug-in hybrid electric vehicle, and battery electric vehicle (BEV).
The key players in the market are Denso Corp, Robert Bosch GmbH, Continental AG, Panasonic Corp., Mitsubishi Electric Corp., LG Corp., Hitachi Ltd., Preh GmbH, Sensata Technologies, Inc. (Lithium Balance), and Marelli Holdings Co., Ltd., among others.
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