CONTINENTAL AG, RENESAS ELECTRONICS CORPORATION, NXP SEMICONDUCTOR NV and MAGNETTI MARELLI SPA – PROMINENT MARKET PARTICIPANTS IN THE AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET
The market outlook for car battery management systems is positive as electric vehicles or fuel cell vehicles are becoming increasingly popular with end users. Increasing acceptance of these vehicles would allow manufacturers to enlarge their production lines, which would require an increased amount of BMS. This factor is expected to drive the car battery management system market. In addition, the presence on the market of a large number of established and recognized players in the automotive industry enables end users to rely on BMS products, which are also a key driver of the automotive battery management market. The volume of BMS procurement is increasing steadily in the current scenario, as OEMs and battery manufacturers are increasingly procuring BMS in large quantities,
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Worldwide, the electric vehicle industry is strongly dominated by China. The country’s commercial vehicle segment saw significant production growth and the introduction of zero-emission vehicles, which increased demand for BMS. This factor has had a positive impact on the rise of the market for car battery management systems. China’s enthusiasm for electromobility or electromobility could not be surpassed in any other country in the world. Shenzhen has switched all of its city buses to electric buses from ICE vehicles. And continues to introduce a large number of e-buses. Chinese manufacturers of electric vehicles such as BYD, Yutong and Zhongtong are the pioneers in the electric mobility segment. Similar to China, Japan, among other things, India and South Korea have made remarkable progress in the development and use of electric buses. These factors are driving the growth of the market for automotive battery management systems in the Asia-Pacific region.
The five largest market leaders in this market include Continental AG, Renesas Electronics Corporation, NXP Semiconductor NV, Robert Bosch GmbH and Magnetti Marelli SpA. The above list of top players is based on several factors such as total sales, the current BMS portfolio for the automotive industry and the investment in technological modernization and industry activities. Companies have taken various market initiatives to expand their presence around the world and meet growing market demand. For example, Renesas Electronics’ 14-cell Li-ion battery management IC will maximize battery cell life in 2019.
The players represented on the market for automotive battery management systems are taking steps to strengthen their service portfolio and have a large customer base. To achieve this goal, companies are taking initiatives related to mergers and acquisitions of other players that would ultimately help to increase their business revenues and leave geographical traces around the world.
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