Growing demand for electric vehicles fuels the growth of the India Battery Management System (BMS) for electric vehicles market at a CAGR of 40.5% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global India Battery Management System (BMS) for Electric Vehicles Market”.

The Battery Management System (BMS) for electric vehicles market is estimated to register a CAGR of 40.5% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the India battery management system for electric vehicles market— Ola Electric Technologies Pvt Ltd, TVS Motor Company Ltd, Bajaj Auto Group, Ather Energy Pvt Ltd, Hero Motocorp Ltd, Greaves Electric Mobility Pvt Ltd, BGauss Auto Private Limited, Revolt Intellicorp Pvt Ltd, Wardwizard Innovations & Mobility Limited, Kinetic Green Energy & Power Solutions Ltd, Bounce Electric 1 Pvt Ltd, Quantum Energy Ltd., and Okaya EV Pvt Ltd.

Market Highlights

The India Battery Management System (BMS) for electric vehicles market is accounted for to register a CAGR of 40.5% during the forecast period and is estimated to reach USD 3,016.0 million by 2032.

A BMS for EVs is an electronic system that manages and safeguards the vehicle’s battery pack. It monitors battery health by tracking key parameters such as voltage, current, temperature, and state of charge. The BMS ensures optimal battery performance and longevity by balancing cell voltages, protecting against overcharging, over-discharging, and overheating, and providing critical data for the vehicle’s powertrain management. Additionally, it interfaces with other vehicle systems to enhance safety and efficiency, making it a crucial component in the reliable operation of EVs.

The growing India EVs market reflects the shift from fossil fuel to renewable energy for sustainable and eco-friendly commute options. Further, the market growth emphasizes the significant transformation taking place across India's e-vehicles industry, due to technological advancements, evolving market dynamics, and supportive government policies. For instance, recently, the FAME II scheme has increased EV adoption as the government offered massive funding for both users and makers, and in the Indian budget 2024-2025 government announced FAME-III. Moreover, environmental changes, as well as advancements in battery technologies that provide reliable electric mobility solutions and prevent risks are also contributing to the development of India's BMS for EVs market.

Backed by the growing electric vehicle industry the demand for BMS demand surged. BMS is a critical component for ensuring the efficient operation and safety of Electric Vehicle (EV) batteries. To meet the surging demand, well-established players like Sensata, Maxwell, and Daly BMS are investing rigorously in the R&D field to provide cost-optimization solutions with features. These innovations aim to address both high-end and cost-sensitive market segments. For instance, Sensata's focus on developing affordable, yet high-performance BMS solutions highlights the industry's effort to cater to a diverse range of EV applications while managing costs effectively.

Access full report @ https://www.marketresearchfuture.com/reports/india-electric-vehicles-battery-management-system-market-32283

Segment Analysis

The India Battery Management System (BMS) for electric vehicles market has been segmented based on Type, Category, Topology, Battery Chemistry, Application, and Vehicle Type.

Based on the type segment, the market is bifurcated into Wired BMS and Wireless BMS. Wired BMS is the largest and fastest growing sub segment in the type segment.

Based on the category segment, the market is bifurcated into High Voltage and Low Voltage Class 1 (≤ 30 VAC and ≤ 60 VDC). High voltage is further categorized into Class 2 (≤ 600 VAC and ≤ 900) and Class 3 (≤ 1000 VAC and ≤ 1500 VDC). Low Voltage Class 1 (≤ 30 VAC and ≤ 60 VDC) is the dominating segment in the category while high voltage expected to be the fasted growing segment during the forecast period.

Based on the topology segment, the market is bifurcated into Centralized and Decentralized. Decentralized is further categorized into Modular, Master-Slave, and Distributed. Decentralized would be the fastest growing segment in the India BMS market during the forecast period.

Based on the battery chemistry segment, the market is bifurcated into Lead-Acid Battery, Lithium-Ion Battery, Nickel Metal Hydride, and Others. Lithium-Ion Battery is the dominating and fastest growing segment in the India BMS market.

Based on the application segment, the market is bifurcated into Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles. Battery Electric Vehicles accounted the highest market share in 2023 and Hybrid Electric Vehicles are expected to grow with the highest CAGR during the forecast period.

Based on the vehicle type segment, the market is bifurcated into Passenger Car, Commercial Vehicle, Two & Three-Wheelers, and Others. Commercial vehicle is further sub-categorized into Light Commercial Vehicles (LCVs), Trucks, and Buses.

Key Findings of the Study

• The India Battery Management System (BMS) for electric vehicles market is expected to reach USD 3,016.0 million by 2032, at a CAGR of 8.9% during the forecast period.


• The Wired BMS accounted for the largest share in India market.


• Based on Category, the high voltage segment was attributed to holding the largest market in 2023.


• Ola Electric Technologies Pvt Ltd, TVS Motor Company Ltd, Bajaj Auto Group, Ather Energy Pvt Ltd, Hero Motocorp Ltd, Greaves Electric Mobility Pvt Ltd, BGauss Auto Private Limited, Revolt Intellicorp Pvt Ltd, Wardwizard Innovations & Mobility Limited, Kinetic Green Energy & Power Solutions Ltd, Bounce Electric 1 Pvt Ltd, Quantum Energy Ltd., and Okaya EV Pvt Ltd among others are some of the players in the market.