Electric Vehicle Battery Management System Segmentation
Type (Lithium Ion, Redox Flow, Lead-Acid)
The lithium-ion segment is estimated to hold a 45% share of the global electric vehicle battery management system market in the year 2037. According to the International Energy Agency, in 2022, the demand for automotive lithium-ion (Li-ion) batteries shot up by 65% reaching 550 GWh, which is significantly higher than 330 GWh in 2021. The growth is mainly driven by the surging popularity of EVs in the world. Batteries made of lithium-ion batteries employ BMS to maintain their temperature range since they have high sensitivity to high temperatures, further boosting the market growth.
Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle)
The battery electric vehicle segment is expected to account for 60% of the global electric vehicle battery management system market in the year 2037. This is majorly due to the consumer demand for zero-emission vehicles. Furthermore, longer driving ranges, faster charging solutions, and declining battery costs make BEVs more attractive than hybrids or fuel cell vehicles. Automakers are prioritizing BEV production while expanding charging infrastructure further accelerates adoption.
Our in-depth analysis of the global electric vehicle battery management system market includes the following segments:
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