Electric Vehicle Battery Management System Market Share

North American Market Forecast

The electric vehicle battery management system market in North America is projected to be the largest with a share of about 36% by the end of 2036. The growth of the market can be attributed majorly to the increasing acceptance of electric vehicles owing to increasing development in its technology. As per the International Energy Agency, more than 750,000 new all-electric automobiles were registered in the United States in 2022, representing a 57 percent increase over 2021.

APAC Market Statistics

The Asia Pacific electric vehicle battery management system market is estimated to be the second largest, registering a share of about 27% by the end of 2036. The growth of the market can be attributed majorly to the rising production of batteries in the region. As per the data of the China Alliance for Electric Vehicles (CAEV), a total capacity of 545.9 gigatonnes (GWh) of batteries for electric vehicles, the production of battery has dramatically surpassed the number of EVs in the region.

Frequently Asked Questions (FAQ)

Rising adoption of electric vehicles and growing production of batteries are the major factors driving the market growth.

The market size of electric vehicle (EV) battery management system (BMS) is anticipated to attain a CAGR of around 30% over the forecast period, i.e., 2023 â€“ 2035.

The major players in the market are Marelli Holdings Co., Ltd., Elithion Inc., Renesas Electronics Corporation, Johnson Matthey, Texas Instruments Incorporated, Navitas System, LLC, Sensata Technologies, Inc., Storage Battery Systems, LLC, Exide Corporation, and Enersys.

The lithium-ion segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

Electric Vehicle Battery Management System Market Share