The Latin America, Middle East and Africa Automotive Battery Management System Market would witness market growth of 20.8% CAGR during the forecast period (2023-2030).
The battery's power burden has been augmented by electric power steering, electronic braking, and start/stop capabilities. As a result, determining the order of importance for each of these electrical loads in terms of safety and convenience has been a significant concern for the electrical system of vehicles. Intelligent battery management systems (IBMSs) are becoming increasingly prevalent in the region and are attracting the interest of manufacturers. IBMS comprises sophisticated electronics, including battery sensors connected in series and parallel arrays within a vehicle battery pack to monitor the state of charge (SOC), state of health (SOH), and temperature across a cell.
All three measurements were acquired concurrently by IBMS to guarantee precise measurements, even in situations involving swiftly varying vehicle conditions. By employing IBMS, these electric vehicle systems are systematically deactivated, and drivers are alerted to the imminent battery problem to prevent explosions. Intelligent battery sensors are primarily supplied by Continental AG, Hella, and Bosch, among others.
The LAMEA region is witnessing a gradual but continuous growth in the adoption of electric vehicles and the deployment of energy storage systems, particularly in the Middle East and some parts of Africa. The market is in its early stages but has substantial growth potential. Various governments in the LAMEA region are introducing policies and incentives to promote electric mobility and renewable energy. These initiatives aim to lower greenhouse gas emissions and combat air pollution. The aforementioned factors will drive the market growth in this region.
The Brazil market dominated the LAMEA Automotive Battery Management System Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $305.2 million by 2030. The Argentina market would experience a CAGR of 21.5% during (2023 - 2030). Additionally, The UAE market is showcasing a CAGR of 20.1% during (2023 - 2030).
Based on Component, the market is segmented into Hardware, and Software. Based on Battery Type, the market is segmented into Lithium-ion, Lead-acid, and Others. Based on Application, the market is segmented into Passenger Vehicles, Commercial Vehicles, and Others. Based on Topology, the market is segmented into Modular, Centralized, and Distributed. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Automotive Battery Management System Market is Projected to reach USD 16.6 Billion by 2030, at a CAGR of 19.8%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Eberspächer Gruppe GmbH & Co. KG, Sensata Technologies Holding PLC, AVL List Gmbh, LG Energy Solution Ltd., Ficosa International S.A, Leclanché S.A, Nuvation Energy, Futavis Gmbh (Deutz AG), Toshiba Corporation, Elithion, Inc.
By Component
By Battery Type
By Application
By Topology
By Country
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