Automotive Battery Management System Market Expansion

The global automotive battery management system (BMS) market is projected to grow from USD 4.7 billion in 2023 to USD 11.7 billion in 2028, with a CAGR of 19.8%. The increasing adoption of electric vehicles, driven by environmental awareness and government incentives, is fueling this growth. The distributed BMS topology is expected to gain market share, particularly in high-power applications like electric vehicles. The commercial vehicles segment, including electric buses and trucks, is forecasted to grow significantly, aligning with global net zero emissions goals. Europe is highlighted as a key region for the automotive BMS market, with major players like Eberspächer, Sensata Technologies, and LG Energy Solution.