North America Automotive Battery Management System Market

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 Strategic Insights

Strategic insights for the North America Automotive Battery Management System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Automotive Battery Management System Report Scope

North America Automotive Battery Management System Regional Insights

The geographic scope of the North America Automotive Battery Management System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.