Europe Electric Vehicle Battery Management System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 30.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Electric Vehicle Battery Management System Market Analysis
Currently, the European electric vehicle battery management system market is valued at USD 0.83 billion and is expected to reach USD 4.44 billion over the next five years, registering a CAGR of more than 30 % during the forecast period.
- The COVID-19 pandemic severely slowed down the market growth of electric vehicle battery management systems. With the global automotive industry just beginning to transition towards electric mobility, the global halt of automotive production and sales severely affected the growth trajectory of the market. As a result of the pandemic, a major economic crisis was witnessed in the industry. As a result of the pandemic, a major economic crisis was witnessed in the industry.
- However, stringent emission targets for different countries around the world are anticipated to significantly drive investments in electric mobility. Similarly, the high number of national government initiatives and purchase incentives for electric vehicles is expected to drive demand for electric vehicles and, consequently, electric vehicle battery management systems over the coming years.
- In vehicles, the battery management system is primarily used for managing and protecting the cells in a battery pack. Safe and optimum use of the energy stored is highly essential in a vehicle battery pack due to the growing electrification of vehicles. Factors such as the increasing demand for electric vehicles and energy storage systems and growing consumption of rechargeable batteries in consumer electronics, coupled with technical advancements, are aiding the market's growth significantly.
- Features like start/stop, electric power steering, and electric braking systems have increased the power load on the battery. Therefore, prioritizing all these electrical loads on a scale from comfort to safety level has been a major issue in the vehicle electric system. Therefore, the intelligent battery management system (IBMS) has been gaining attention among automobile manufacturers, which aided its adoption across the world.
Europe Electric Vehicle Battery Management System Market Trends
The Passenger Cars Segment is Driving the Demand for Battery Management Systems
- The increasingly stringent emission targets set for both passenger cars and commercial vehicles have significantly driven investments into the electric mobility of the European region. Additionally, rising buyer awareness and environmental concerns have driven an exponential number of electric vehicle purchases in the region over the past few years.
- As a result of this rise in the need for electric mobility, the number of electric passenger cars to be sold is further anticipated to rise, leading to high demand for electric vehicle battery management systems, especially concerned with passenger cars operating across the European region.
- As a result of this, multiple technological investments and original equipment manufacturer (OEM) partnerships in developing and producing advanced battery management systems have been witnessed over the years. The ongoing rapid research and development programs are also viewed as noteworthy growth opportunities for different players and stakeholders operating currently in the electric vehicle battery management systems market. For instance,
- In May 2023, Webasto SE announced its various electromobility products at the Battery Show Europe. The presented products include a battery for hybrid vehicles produced at Webasto's plant in Jianxing - the first battery for fully electric passenger cars produced at its battery plant in Dangjin. Webasto also showcased its new battery management system along with thermal management solutions for electromobility.
- In March 2023, Audi AG announced that it is currently testing its production-oriented Q6 e-tron prototype under strict safety regulations. This futuristic model series is the first to be built on the new premium platform electric (PPE) technology platform. With its 800-volt electrical system, powerful and efficient electric motors, an innovative battery and charging management system, and a newly developed electronics architecture, the production-oriented Q6 e-tron prototype marks the next major step in the electrification and digitalization of Audi's model range.
- Similarly, in February 2023, NIRA Dynamics of Sweden announced their new software services for the battery safety of electric vehicles. Their new safety garage will focus on supporting electric vehicle manufacturers by supporting a comprehensive suite of services that are tailored to meet the needs of electric vehicle manufacturers, including battery regeneration, battery management, and sustainability.
Norway is Anticipated to Lead the European Market During the Forecast Period
- Norway is a leader in the deployment of electric cars. The country's electric cars run almost exclusively off the country's copious hydropower resources. The Norwegian parliament has set a target that all new cars must have zero emissions by 2025.
- However, such enthusiastic embracing of electric vehicles by ordinary Norwegians is not only down to ecological benefits but a significant economic benefit. Meanwhile, motorists are typically subject to punitive levels of taxation; those who buy a purely electric vehicle are rewarded with a string of incentives worth thousands of pounds. Buyers escape heavy import or purchase taxes and are also exempted from a 25% value-added tax (VAT).
- Owing to the high number of growth opportunities across Norway, significant technological advancements and international partnerships are being witnessed across the country. These technological partnerships are poised to offer a better product fit for the market by investing jointly to develop the products, thereby catering to the demand for battery management systems in the country. For instance,
- In June 2022, Marquardt announced that it would present its innovations at the 35th International Electric Vehicle Symposium & Exhibition (EVS35). It will also present its diverse portfolio for electromobility ranging from high-performance power solutions such as onboard chargers, high-voltage (HV) sensors, and DC/DC converters to battery management systems and intelligent charging systems.
- Due to significant such partnerships and market developments, Norway is anticipated to lead the European region during the forecast period.
Europe Electric Vehicle Battery Management System Industry Overview
The European electric vehicle battery management system market is highly consolidated, with major players, like Denso, Bosch, Hella, Continental, and Panasonic Corporation. HeIla, in March 2023, won several series of orders in the field of electromobility from various customers. To achieve the aforementioned market share, the company is eyeing on Europe electric vehicle business and is trying to expand the battery management system division. Other players in the market studied include Hitachi Automotive system, Calsonic Kansei Corporation, etc.
Europe Electric Vehicle Battery Management System Market Leaders
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Denso Corporation
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Robert Bosch GmbH
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Panasonic Corporation
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LG Chem Ltd
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Calsonic Kansei Corporation
*Disclaimer: Major Players sorted in no particular order
Europe Electric Vehicle Battery Management System Market News
- May 2023: Bramble Energy partnered with Equipmake, Aerstech, and the University of Cranfield to collaboratively develop an innovative hydrogen double-deck bus. The project will leverage the expertise of each entity: Aeristech will provide its high-efficiency air compressor, and Equipmake will contribute to motor power electronics and a cutting-edge battery management system. The University of Bath will optimize the powertrain through advanced vehicle simulations.
- March 2023: Airways, a Chinese company, announced an expansion of its European Tech Center in Munich. The expansion will focus on enhancing IT tech services and optimizing load management for the 12V onboard battery. Moreover, Airways will introduce improved language versions of all operating systems to cater to the growing market demand for advanced battery management systems across Europe.
- March 2023: Switzerland's Designwerk Technologies AG unveiled an impressive new generation of batteries with enhanced capacity options: 125 kilowatts and 250-kilowatt hours. These advanced batteries are tailored for use in trucks and various commercial vehicles, both for on- and off-road applications. As with all battery systems from Designwerk, the newly launched batteries come equipped with a specially developed battery management system (BMS) that diligently monitors all crucial system parameters.
Europe Electric Vehicle Battery Management System Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 The Passenger Cars Segment is Driving the Demand for Battery Management Systems
- 4.1.2 Others
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4.2 Market Restraints
- 4.2.1 Disturbances in Supply Chain
- 4.2.2
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Propulsion Type
- 5.1.1 Plug-in Hybrid Electric Vehicle
- 5.1.2 Battery Electric Vehicle
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5.2 Vehicle Type
- 5.2.1 Passenger Cars
- 5.2.2 Commercial Vehicle
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5.3 By Geography
- 5.3.1 United Kingdom
- 5.3.2 Germany
- 5.3.3 France
- 5.3.4 Italy
- 5.3.5 Norway
- 5.3.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles*
- 6.2.1 Denso Corporation
- 6.2.2 Robert Bosch GmbH
- 6.2.3 Panasonic Corporation
- 6.2.4 LG Chem Ltd
- 6.2.5 Calsonic Kansei Corporation
- 6.2.6 Hitachi Automotive Systems Ltd
- 6.2.7 Mitsubishi Electric Corporation
- 6.2.8 Continental AG
- 6.2.9 Lithium Balance
- 6.2.10 Preh GmbH
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityEurope Electric Vehicle Battery Management System Industry Segmentation
An electric vehicle battery management system (BMS) is a crucial component that monitors and controls the performance of the battery pack in an electric vehicle. It ensures the optimal charging, discharging, and overall health of the battery, enhancing the safety, efficiency, and longevity of the electric vehicle's energy storage system.
The Europe electric vehicle battery management system market is segmented by propulsion type (plug-in hybrid electric vehicle and battery electric vehicle), vehicle type (passenger car and commercial vehicle), and country (Germany, United Kingdom, France, Norway, and the rest of Europe).
The report offers market size and forecasts for the Europe electric vehicle battery management system for all the above segments in value (USD).
| Propulsion Type | Plug-in Hybrid Electric Vehicle |
| Battery Electric Vehicle | |
| Vehicle Type | Passenger Cars |
| Commercial Vehicle | |
| By Geography | United Kingdom |
| Germany | |
| France | |
| Italy | |
| Norway | |
| Rest of Europe |
Europe Electric Vehicle Battery Management System Market Research FAQs
What is the current Europe Electric Vehicle Battery Management System Market size?
The Europe Electric Vehicle Battery Management System Market is projected to register a CAGR of greater than 30% during the forecast period (2024-2029)
Who are the key players in Europe Electric Vehicle Battery Management System Market?
Denso Corporation, Robert Bosch GmbH, Panasonic Corporation, LG Chem Ltd and Calsonic Kansei Corporation are the major companies operating in the Europe Electric Vehicle Battery Management System Market.
What years does this Europe Electric Vehicle Battery Management System Market cover?
The report covers the Europe Electric Vehicle Battery Management System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Electric Vehicle Battery Management System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Electric Vehicle Battery Management System Industry Report
Statistics for the 2024 Europe Electric Vehicle Battery Management System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Electric Vehicle Battery Management System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
