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Europe Electric Vehicle Battery Management System Market 2019 – Growth Analysis by Industry Size, Share, Latest Updates, Opportunities, Investment Cost and Forecast to 2024

Europe

The “Europe Electric Vehicle Battery Management System Market” report 2019 covers all the significant developments which are recently being adopted across the global market. The prime objective of Europe Electric Vehicle Battery Management System market report is to provides an in-depth analysis of all market dynamics including drivers and restraints, and trends and opportunities. The Europe Electric Vehicle Battery Management System market report covers both the demand and supply aspect of the market. The report also highlighted the future trends in the Europe Electric Vehicle Battery Management System market that will impact the demand during the forecast period.

Scope of the Report:

  • The ongoing demand for incorporation of electric components in vehicles across the world, latest R&D investment in energy saving projects, growing demand for electric vehicles particularly in developing countries, and growing stringent emission regulation are expected to increase the demand in the market studied. The includes propulsion type (hybrid and electric) and vehicle type.

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    Market Overview:

  • The European electric vehicle battery management system market (henceforth, referred to as the market studied) was valued at USD 791.03 million in 2018, and it is anticipated to register a CAGR of about 21.27% during the forecast period (2019 – 2024).
  • – 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 in 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 the automobile manufacturers, which aided its adoption across the world.
  • – Companies are primarily focused on entering into international deals, as well as are heavily investing in R&D projects. For instance, Ficosa, a Spain-based company, signed five important contracts for the battery management system. The orders placed by Tier II companies are valued at USD 233.35 million, and are expected to be deployed in electric and plug-in hybrid vehicles.

    Some of the Top Key Players of Europe Electric Vehicle Battery Management System Market Report Are:

  • Denso Corporation
  • Robert Bosch GmbH
  • Panasonic Corporation
  • LG Chem Ltd
  • Calsonic Kansei Corporation
  • Hitachi Automotive Systems Ltd
  • Mitsubishi Electric Corporation
  • Continental AG
  • Lithium Balance
  • Preh GmbH

    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

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    Key Market Trends:

    The Passenger Cars Segment is Driving the Demand for Battery Management System

    Europe is one of the largest market for electric vehicles across the world, where the demand for electric cars is growing rapidly in every country, which is fueling the demand for battery management system in the region.

    In 2017, Europe noticed more than 279 thousand unit sales of plug-in hybrid and battery electric cars, with an increase of 40% from 2016.

    – Plug-in hybrid car sales recorded nearly 144 thousand units in 2017, with an increase of 33% from 2016.
    – Battery electric car sales recorded nearly 135 thousand units in 2017, with an increase of 49% from 2016.

    The countries, like Germany, Norway, the United Kingdom, and France captured nearly 70% of the market share in European hybrid and electric car sales in 2017.

    – Germany experienced approximately 117% increase in the hybrid and electric car registrations, with 54 thousand units in 2017 from 2016.
    – Norway documented the highest hybrid and electric car registrations, reaching 62 thousand units in 2017, with an increase of 40% from 2016.
    – In 2017, the United Kingdom witnessed 47 thousand unit sales of hybrid and electric cars, an increase of 28% from previous year.

    Owing to the growing sales of hybrid and electric passenger cars, automobile manufacturers plan to extend their battery management system production capacities over the forecast period.

    Norway is Expected to Continue to Dominate the Europe Electric Vehicle Battery Management System Market

    Norway is a leader in the deployment of electric cars. The country’s electric cars run almost exclusively off the country’s copious hydropower resource. Nearly a third of all new cars sold in the country in 2018 was expected to be a plug-in model either fully electric or a hybrid, and experts expect the share to rise to as much as 40% in 2019.

    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 all down to ecological benefits but something more simple, money. 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 25% VAT.

    Apart from Norway, Germany is also witnessing increased demand for electric vehicles, which in turn, is expected to drive the growth of the market studied. The government launched a USD 350 million program in 2017, to install DC fast chargers around the country, and Tesla has begun rapidly building out its Supercharger network. The German government has funded for the development of a nationwide fast-charging network long ago, the results of the funding are now being used by thousands of new electric-car drivers each month.

    The Report Covers:

    • Comprehensive research methodology of Europe Electric Vehicle Battery Management System market
    • In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
    • Analysis of regional regulations and other government policies impacting the global sleep aid market
    • Insights about market determinants which are stimulating the global Europe Electric Vehicle Battery Management System market
    • Detailed and extensive market segments with regional distribution of forecasted revenues
    • Extensive profiles and recent developments of market players Companies Mentioned

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    Detailed TOC of Europe Electric Vehicle Battery Management System Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.3 Market Restraints
    4.4 Industry Attractiveness – Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Propulsion Type
    5.1.1 Hybrid
    5.1.2 Electric
    5.2 Vehicle Type
    5.2.1 Passenger Cars
    5.2.2 Commercial Vehicle
    5.3 Geography
    5.3.1 Europe
    5.3.1.1 Germany
    5.3.1.2 UK
    5.3.1.3 France
    5.3.1.4 Norway
    5.3.1.5 Netherlands
    5.3.1.6 Rest of Europe

    6 COMPETITIVE LANDSCAPE
    6.1 Vendor Market Share
    6.2 Mergers and Acquisitions
    6.3 Company Profiles
    6.3.1 Denso Corporation
    6.3.2 Robert Bosch GmbH
    6.3.3 Panasonic Corporation
    6.3.4 LG Chem Ltd
    6.3.5 Calsonic Kansei Corporation
    6.3.6 Hitachi Automotive Systems Ltd
    6.3.7 Mitsubishi Electric Corporation
    6.3.8 Continental AG
    6.3.9 Lithium Balance
    6.3.10 Preh GmbH

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

    8 DISCLAIMER

     

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