North America Automotive Battery Management System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Vehicle Type (Bus, Trucks, and Off-Highway Vehicle)
The North America automotive battery management system market is expected to grow from US$ 4.56 million in 2022 to US$ 11.45 million by 2028. It is estimated to grow at a CAGR of 16.6% from 2022 to 2028.
Increasing Sales of EVs and Expansion of EV Infrastructure is driving the North America Automotive Battery Management System Market
Electric vehicle (EV) sales are growing at a fast pace owing to increasing concerns about environmental protection and government policies favoring the adoption of low-emission and zero-emission vehicles. Subsidies and tax rebates offered by governments encourage manufacturers to scale up their processes. In June 2022, the US government proposed new standards for its action plan to build a national network of 500,000 EV charging stations by 2030. The government introduced a plan to allocate US$ 5 billion to states to fund EV chargers during the next five years. Private sectors are also encouraging the electrification of transport worldwide. Many vehicle manufacturers are making announcements about their intentions and plan to launch electric buses, trucks, and off-highway vehicles. Thus, an increase in investments in charging infrastructure and a rise in the number of favorable government policies are propelling battery manufacturing scales, thereby bolstering the demand for battery management systems. In May 2022, Hyundai Motor Group announced plans to establish its first dedicated EV plant and battery manufacturing facility in the US, with an investment of ~US$ 5.54 billion. The plant is expected to have a production capability of 300,000 units by the first half of 2025. The BMS are used in EV’s to monitor the aging, charging status of the batteries, and optimum performance of the batteries which are helping to improve the operating efficiency of the EV’s. Thus, such growing production of EVs in different countries is boosting the demand for North America automotive battery management system market.
North America Automotive Battery Management System Market Overview
As per the Organisation Internationale des Constructeurs d'Automobiles (OICA) 2021 report, the US produced 7,024,288 passenger vehicles in 2021 and 6,864,024 in 2020. Similarly, Canada produced 320,605 passenger vehicles in 2021 and 318,750 in 2020 as per the same report. Also, Mexico produced 520,112 passenger vehicles in 2021 and 532,433 in 2020, as per the report. As per OICA statistics, the US, Canada, and Mexico are leading in passenger vehicle production across the region. Thus, the continuous production of the vehicles across the region propels the need for efficient operation of battery which is emerging the need for automotive battery management systems, that supports the growth of the automotive battery management system market in North America. Governments of North American countries are taking initiatives to develop and produce electric vehicles (EVs). Automotive manufacturers in the region are also investing significantly in battery and EV manufacturing. For instance, in October 2022, Energy Storage Firm ONE planned to Invest US$ 1.6 billion in EV battery manufacturing Gigafactory in Michigan, US. The manufacturing facility is expected to operate a full annual capacity of 20 GWh, equivalent to 200,000 EV battery packs, by the end of 2027. The continuous focus on the production of EV batteries creates potential opportunities for manufacturers of automotive battery management systems, which would fuel the North America automotive battery management system market in the coming years.
North America Automotive Battery Management System Market Revenue and Forecast to 2028 (US$ Million)
North America Automotive Battery Management System Market Segmentation
The North America automotive battery management system market is segmented into vehicle type, and country.
- Based on vehicle type, the North America automotive battery management system market is segmented into bus, trucks, and off-highway vehicle. The bus segment held the largest market share in 2022.
- Based on country, the North America automotive battery management system market is segmented into the US, Canada, and Mexico. The US segment dominated the market share in 2022.
Continental AG; Dana Limited; GENTHERM; Hanon Systems; Mahle GmbH; Marelli Holdings Co., Ltd; NXP Semiconductors; Renesas Electronics Corporation; Robert Bosch GmbH and; Valeo are the leading companies operating in the North America automotive battery management system market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Automotive Battery Management System Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Automotive Battery Management System Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Sales of EVs and Expansion of EV Infrastructure
5.1.2 Government Initiatives and Policies Favouring Low-Emission Vehicles
5.2 Key Market Restraints
5.2.1 High Upfront Costs and Scalability Issues
5.3 Key Market Opportunities
5.3.1 Projected Rise in Demand for Electric Trucks and Buses
5.4 Trends
5.4.1 Wireless Battery Management Systems
5.5 Impact Analysis of Drivers and Restraints
6. North America Automotive Battery Management System Market –Market Analysis
6.1 North America Automotive Battery Management System Market Overview
6.2 North America Automotive Battery Management System Market Forecast and Analysis
6.3 North America Automotive Battery Management System Market Forecast and Analysis
7. North America Automotive Battery Management System Market Analysis by Vehicle Type
7.1 Overview
7.2 North America Automotive Battery Management System Market, By Vehicle Type (2021 and 2028)
7.3 Bus
7.3.1 Overview
7.3.2 Bus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.3.3 List of Companies
7.3.4 Insights and Trends
7.3.4.1 School Bus
7.3.4.1.1 Overview
7.3.4.1.2 School Bus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.3.4.2 Transit Bus
7.3.4.2.1 Overview
7.3.4.2.2 Transit Bus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.3.4.3 Minibus
7.3.4.3.1 Overview
7.3.4.3.2 Minibus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.3.4.4 Coach/Motor Coach
7.3.4.4.1 Overview
7.3.4.4.2 Coach/Motor Coach: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.3.4.5 Others
7.3.4.5.1 Overview
7.3.4.5.2 Others: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.4 Trucks
7.4.1 Overview
7.4.2 Trucks: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.4.3 List of Companies
7.4.4 Insights and Trends
7.4.4.1 Light Commercial Vehicle
7.4.4.1.1 Overview
7.4.4.1.2 Light Commercial Vehicle: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.4.4.2 Heavy Commercial Vehicle
7.4.4.2.1 Overview
7.4.4.2.2 Heavy Commercial Vehicle: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.5 Off-Highway Vehicle
7.5.1 Overview
7.5.2 Off-Highway Vehicle: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.5.3 List of Companies
7.5.4 Insights and Trends
7.5.4.1 Dump Trucks
7.5.4.1.1 Overview
7.5.4.1.2 Dump Trucks: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.5.4.2 Excavator
7.5.4.2.1 Overview
7.5.4.2.2 Excavator: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.5.4.3 Loaders
7.5.4.3.1 Overview
7.5.4.3.2 Loaders: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.5.4.4 Tractors
7.5.4.4.1 Overview
7.5.4.4.2 Tractors: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
7.5.4.5 Others
7.5.4.5.1 Overview
7.5.4.5.2 Others: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
8. North America Automotive Battery Management System Market – Country Analysis
8.1 Overview
8.1.1 North America Automotive Battery Management System, by Key Country – Revenue (2021) (US$ Million)
8.1.2 North America: Automotive Battery Management System, by Key Country
8.1.2.1 US : North America Automotive Battery Management System Market, Revenue and Volume Forecast to 2028
8.1.2.1.1 US : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Vehicle Type
8.1.2.1.1.1 US : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Off-highway Vehicle
8.1.2.1.1.2 US : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Trucks
8.1.2.1.1.3 US : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Bus
8.1.2.2 Canada : North America Automotive Battery Management System Market, Revenue and Volume Forecast to 2028
8.1.2.2.1 Canada : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Vehicle Type
8.1.2.2.1.1 Canada : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Off-highway Vehicle
8.1.2.2.1.2 Canada : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Trucks
8.1.2.2.1.3 Canada : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Bus
8.1.2.3 Mexico : North America Automotive Battery Management System Market, Revenue and Volume Forecast to 2028
8.1.2.3.1 Mexico : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Vehicle Type
8.1.2.3.1.1 Mexico : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Off-highway Vehicle
8.1.2.3.1.2 Mexico : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Trucks
8.1.2.3.1.3 Mexico : North America Automotive Battery Management System Market Revenue and Volume Breakdown, By Bus
9. Industry Landscape
9.1 Overview
9.2 Market Initiative
9.3 New Product Development
10. Company Profiles
10.1 Continental AG
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Dana Limited
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 GENTHERM
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Hanon Systems
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Mahle GmbH
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 NXP Semiconductors
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Renesas Electronics Corporation
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Robert Bosch GmbH
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Valeo
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Marelli Holdings Co., Ltd
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About the Insight Partners
11.2 Word Index
LIST OF TABLES
Table 1. North America Automotive Battery Management System Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Automotive Battery Management System Market Volume Forecast and Analysis (Units)
Table 3. North America: Automotive Battery Management System, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: Automotive Battery Management System, By Vehicle Type – Volume and Forecast to 2028 (Units)
Table 5. North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Bus (US$ Million)
Table 6. North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Bus (Units)
Table 7. North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Trucks (US$ Million)
Table 8. North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Trucks (Units)
Table 9. North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Off-Highway Vehicle (US$ Million)
Table 10. North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Off-Highway Vehicle (Units)
Table 11. US : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 12. US : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Vehicle Type (Units)
Table 13. US : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Off-highway Vehicle (US$ Million)
Table 14. US : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Off-highway Vehicle (Units)
Table 15. US : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Trucks (US$ Million)
Table 16. US : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Trucks (Units)
Table 17. US : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Bus (US$ Million)
Table 18. US : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Bus (Units)
Table 19. Canada : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 20. Canada : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Vehicle Type (Units)
Table 21. Canada : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Off-highway Vehicle (US$ Million)
Table 22. Canada : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Off-highway Vehicle (Units)
Table 23. Canada : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Trucks (US$ Million)
Table 24. Canada : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Trucks (Units)
Table 25. Canada : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Bus (US$ Million)
Table 26. Canada : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Bus (Units)
Table 27. Mexico : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 28. Mexico : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Vehicle Type (Units)
Table 29. Mexico : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Off-highway Vehicle (US$ Million)
Table 30. Mexico : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Off-highway Vehicle (Units)
Table 31. Mexico : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Trucks (US$ Million)
Table 32. Mexico : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Trucks (Units)
Table 33. Mexico : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 – By Bus (US$ Million)
Table 34. Mexico : North America Automotive Battery Management System Market, Volume and Forecast to 2028 – By Bus (Units)
Table 35. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Automotive Battery Management System Market Segmentation
Figure 2. North America Automotive Battery Management System Market Segmentation – By Country
Figure 3. North America Automotive Battery Management System Market Overview
Figure 4. Bus Segment held the Largest Share of North America Automotive Battery Management System Market
Figure 5. US to Show Great Traction During Forecast Period
Figure 6. North America Automotive Battery Management System Market - Porter’s Five Forces
Figure 7. Ecosystem Analysis: North America Automotive Battery Management System Market
Figure 8. Expert Opinion
Figure 9. North America Automotive Battery Management System Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Automotive Battery Management System Market Forecast and Analysis (US$ Million)
Figure 11. North America Automotive Battery Management System Market Forecast and Analysis (Units)
Figure 12. North America: Automotive Battery Management System Revenue Share, By Vehicle Type (2021 and 2028)
Figure 13. Bus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 14. School Bus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. Transit Bus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 16. Minibus: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 17. Coach/Motor Coach: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 18. Others: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 19. Trucks: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 20. Light Commercial Vehicle: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 21. Heavy Commercial Vehicle: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 22. Off-Highway Vehicle: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 23. Dump Trucks: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 24. Excavator: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 25. Loaders: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 26. Tractors: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 27. Others: North America Automotive Battery Management System Market Revenue and Forecasts to 2028 (US$ Million)
Figure 28. North America: Automotive Battery Management System Revenue Share, by Key Country (2021 and 2028)
Figure 29. US : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 (US$ Million)
Figure 30. Canada : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 (US$ Million)
Figure 31. Mexico : North America Automotive Battery Management System Market, Revenue and Forecast to 2028 (US$ Million)
- Continental AG
- Dana Limited
- GENTHERM
- Hanon Systems
- Mahle GmbH
- Marelli Holdings Co., Ltd
- NXP Semiconductors
- Renesas Electronics Corporation
- Robert Bosch GmbH
- Valeo
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America automotive battery management system market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in North America automotive battery management system market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.