Electric Vehicle Battery Management System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Battery Management System for Electric Vehicle Industry Overview

The Electric Vehicle Battery Management System Market is dominated by several key players such as Renesas Electronics Corporation, NXP Semiconductors, Keihin Corporation, TE Connectivity, Analog Devices Inc., and others. Moreover, the market tends to be highly attractive for new players, and companies operating in the market have been focusing on launching advanced technologies to gain a competitive advantage. For instance,

• In May 2022, BorgWarner Inc. announced that the company had got a deal from an undisclosed international vehicle manufacturer to supply its Battery Management System (BMS). Model years beginning in the middle of 2023 will be the first to come with the new BorgWarner BMS technology, which improves the performance, security, and lifespan of battery packs. 
• In January 2022, FPT Industrial announced presenting two e-axles and a battery pack with a Battery Management System customized to meet customer needs. It displayed an integrated e-Axle designed for the Nikola Tre. A dual-electric motor axle for GVW vehicles up to 44 tons guarantees high performance and efficiency with a maximum power of 420 kW and a maximum torque of 900 Nm for each motor.
• In October 2021, Ballard Power Systems and Forsee Power announced signing a memorandum of understanding (MOU) for a strategic partnership to develop fully integrated fuel cell and battery solutions optimized for performance, cost, and installation for heavy-duty hydrogen mobility applications.