MESSAGES FROM THE MANAGEMENT:
WHY MRFR?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 22
2 MARKET INTRODUCTION 25
2.1 DEFINITION 25
2.2 SCOPE OF THE STUDY 25
2.3 RESEARCH OBJECTIVE 25
2.4 MARKET STRUCTURE 26
3 RESEARCH METHODOLOGY 27
3.1 OVERVIEW 27
3.2 DATA FLOW 29
3.2.1 DATA MINING PROCESS 29
3.3 PURCHASED DATABASE: 30
3.4 SECONDARY SOURCES: 31
3.4.1 SECONDARY RESEARCH DATA FLOW: 33
3.5 PRIMARY RESEARCH: 34
3.5.1 PRIMARY RESEARCH DATA FLOW: 35
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED 36
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 36
3.6.1 REVENUE ANALYSIS APPROACH 36
3.7 DATA FORECASTING 37
3.7.1 DATA FORECASTING TECHNIQUE 37
3.8 DATA MODELING 38
3.8.1 MICROECONOMIC FACTOR ANALYSIS: 38
3.8.2 DATA MODELING: 39
3.9 TEAMS AND ANALYST CONTRIBUTION 40
4 MARKET DYNAMICS 42
4.1 INTRODUCTION 42
4.2 DRIVERS 43
4.2.1 GROWING DEMAND FOR ELECTRIC VEHICLES (EVS) 43
4.2.2 INCREASING GOVERNMENT SUPPORT FOR EVS 43
4.2.3 EMERGING BATTERY CHEMISTRIES AND THEIR INFLUENCE ON BMS DEMAND 45
4.2.4 INTRODUCTION TO PREDICTIVE ALGORITHMS IN BMS 46
4.2.5 EFFORTS BY MARKET PLAYERS TO DRIVE THE MARKET GROWTH 47
4.3 RESTRAINTS 49
4.3.1 HIGH COST OF BMS 49
4.3.2 LACK OF STANDARDIZATION IN BMS 49
4.3.3 IMPACT OF SUPPLY CHAIN ON THE GROWTH OF BMS FOR EVS IN INDIA 49
4.4 OPPORTUNITY 51
4.4.1 DEVELOPMENT OF NEW BMS TECHNOLOGIES, SUCH AS CLOUD BASED BMS AND WIRELESS BMS 51
4.4.2 OPTIMIZATION THROUGH ADVANCED ALGORITHMS AND MACHINE LEARNING 51
4.4.3 SMART EMBEDDED SENSING TECHNOLOGY 52
4.5 CHALLENGES 52
4.5.1 COMPLEXITY OF BMS DESIGN AND INTEGRATION 52
4.5.2 GROWING SOLID-STATE BATTERIES GROWTH TO CHALLENGE BMS GROWTH 53
4.6 MARKET & TECHNOLOGY TRENDS 53
4.6.1 GROWING DEMAND FOR HIGH-VOLTAGE BMS 53
4.6.2 INNOVATIONS IN BMS AND DEMAND FOR WIRELESS BMS 54
4.6.3 INTEGRATION OF ONBOARD CHARGERS AND DC-DC CONVERTERS 55
4.6.4 ROLE OF IOT IN BATTERY MANAGEMENT SYSTEMS 55
4.6.5 FAVORABLE MARKET CONDITIONS FOR NEW ENTRANTS 55
4.7 COVID-19 IMPACT ANALYSIS 56
4.7.1 IMPACT ON THE OVERALL AUTOMOTIVE INDUSTRY 56
4.7.2 IMPACT ON THE OVERALL ELECTRIC VEHICLE INDUSTRY 57
4.7.3 IMPACT ON OVERALL BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES INDUSTRY 58
4.7.4 IMPACT ON SUPPLY CHAIN OF BATTERY MANAGEMENT SYSTEM FOR ELECTRIC VEHICLES 58
4.7.4.1 PRICE VARIATION OF KEY RAW MATERIAL 59
4.7.4.2 PRODUCTION SHUTDOWN 59
4.7.4.3 CASH FLOW CONSTRAINTS 60
4.7.4.4 IMPACT ON IMPORT/EXPORT 60
4.7.5 IMPACT ON MARKET DEMAND OF BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES 60
4.7.5.1 IMPACT DUE TO RESTRICTION/LOCKDOWN 61
4.7.5.2 CONSUMER SENTIMENTS 61
4.7.6 IMPACT ON PRICING OF BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES 61
4.8 IMPACT OF SEMICONDUCTOR SHORTAGE ON BMS MARKET 63
5 MARKET FACTOR ANALYSIS 64
5.1 VALUE CHAIN ANALYSIS 64
5.1.1 RAW MATERIAL 64
5.1.2 COMPONENT MANUFACTURING 64
5.1.3 BMS ASSEMBLY 65
5.1.4 OEMS 65
5.1.5 END-USERS 65
5.2 PORTER'S FIVE FORCES MODEL 66
5.2.1 THREAT OF NEW ENTRANTS 66
5.2.2 BARGAINING POWER OF SUPPLIERS 66
5.2.3 THREAT OF SUBSTITUTES 67
5.2.4 BARGAINING POWER OF BUYERS 67
5.2.5 INTENSITY OF RIVALRY 67
5.3 MARKET SWOT ANALYSIS 68
5.4 MARKET PESTEL ANALYSIS 68
5.4.1 POLITICAL 68
5.4.2 ECONOMIC 68
5.4.3 SOCIAL 69
5.4.4 TECHNOLOGICAL 69
5.4.5 ENVIRONMENTAL 69
5.4.6 LEGAL 69
5.5 REGULATORY/CERTIFICATIONS/LICENSES/STANDARDS OUTLOOK 69
5.6 PATENT OUTLOOK 72
5.7 PRICING TREND ANALYSIS, ($/UNIT) 80
5.8 FUTURE TECHNOLOGICAL ADVANCEMENTS 80
5.9 ESSENTIAL BMS FEATURES/REQUIREMENTS AND BUYING FACTOR FOR OEMS & BATTERY MANUFACTURERS 84
5.9.1 INTRODUCTION 84
5.9.2 SYSTEM REQUIREMENTS 84
5.9.2.1 APPLICATION-SPECIFIC REQUIREMENTS 84
5.9.2.1.1 PASSENGER CARS 84
5.9.2.1.2 COMMERCIAL VEHICLES 85
5.9.2.1.2.1 LIGHT COMMERCIAL VEHICLES (LCVS)- 85
5.9.2.1.2.2 TRUCKS- 85
5.9.2.1.2.3 BUSES- 85
5.9.2.1.3 TWO & THREE-WHEELERS 86
5.9.2.2 REGULATORY AND STANDARDS COMPLIANCE 86
5.9.3 BATTERY SPECIFICATIONS AND OPERATING CONDITIONS 87
5.9.3.1 BATTERY CHEMISTRY 87
5.9.3.2 OPERATING TEMPERATURE RANGE 89
5.9.3.3 CHARGE/DISCHARGE RATES 90
5.9.4 PERFORMANCE REQUIREMENTS 91
5.9.4.1 ACCURACY 91
5.9.4.2 RESPONSE TIME 92
5.9.4.3 ROBUSTNESS 92
5.9.5 BUYING FACTOR 92
5.9.5.1 COST-EFFECTIVENESS 92
5.9.5.2 TECHNICAL CAPABILITIES 92
5.9.5.3 TECHNICAL SUPPORT AND CUSTOMER SERVICE 93
5.9.5.4 OTHERS 93
5.10 UPCOMING REGULATORY DEVELOPMENTS OR POLICY CHANGES AND ITS POTENTIAL IMPACT ON THE ADOPTION OF BMS SOLUTIONS IN THE INDIAN MARKET 93
5.11 OPTIMAL BMS CONFIGURATIONS AND FEATURES FOR THE INDIAN EV MARKET 94
5.11.1 PASSENGER CAR 94
5.11.2 COMMERCIAL VEHICLE 94
5.11.2.1 LIGHT COMMERCIAL VEHICLES (LCVS) 94
5.11.2.2 TRUCKS 95
5.11.2.3 BUSES 95
5.11.3 TWO & THREE-WHEELERS 96
5.11.4 OTHERS 96
5.12 POTENTIAL AREAS FOR PRODUCT INNOVATION OR CUSTOMIZATION TO ADDRESS SPECIFIC MARKET NEEDS OR REGULATORY REQUIREMENTS 97
5.13 ASSESSMENT OF THE CURRENT REGULATORY LANDSCAPE GOVERNING BMS SOLUTIONS IN INDIA 97
5.13.1 STANDARDS 97
5.13.2 CERTIFICATIONS 98
5.13.3 GOVERNMENT INCENTIVES OR MANDATES 98
5.14 USAGE OF DATA COMING FROM BMS SYSTEMS 99
5.14.1 STORAGE SOLUTIONS FOR BMS SYSTEMS DATA 99
5.14.1.1 SD CARD 99
5.14.1.2 CLOUD SOLUTIONS 99
5.14.1.3 OTHER SOLUTIONS 99
5.14.2 BMS SYSTEMS DATA END USERS AND APPLICATIONS 99
5.14.3 BMS SYSTEMS DATA POTENTIAL MONETIZATION MODELS 99
5.14.4 STRATEGY 100
5.14.5 PRODUCT INNOVATION 100
5.14.6 POV OF BATTERY MANUFACTURERS AND OEMS 100
5.15 HARDWARE OF BMS - COST STRUCTURE ($/UNIT) ANALYSIS 101
5.15.1 BATTERY MANAGEMENT SYSTEM (BMS) TOTAL HARDWARE COST 101
5.15.2 BATTERY MANAGEMENT SYSTEM (BMS) HARDWARE COST BREAKDOWN BY COMPONENTS/SUBCOMPONENTS 101
5.15.2.1 BATTERY MANAGEMENT UNIT (BMU) 101
5.15.2.2 BATTERY DISCONNECT UNIT (BDU) AND POWER ELECTRONICS 101
5.15.2.3 INTERFACES BETWEEN ELECTRONIC SYSTEM 102
5.15.2.4 MODULE ELECTRONICS 102
5.16 RAW MATERIAL - HISTORIC PRICE AND FUTURE EVOLUTION 102
5.17 NUMBER OF BMS SYSTEM REQUIREMENTS BY EV TYPE 103
5.18 SOFTWARE AND HARDWARE UPGRADABILITY OF EV BMS 103
5.18.1 SOFTWARE UPGRADABILITY 103
5.18.2 HARDWARE UPGRADABILITY 104
5.18.3 BMS UPGRADABILITY BY APPLICATION 104
5.18.4 COST AND COMPLEXITY ASSOCIATED WITH BMS UPGRADABILITY 105
5.18.5 MARKET SIZING OUTLOOK (USD MILLION) & (UNITS) (2018-2032) 106
5.19 STANDARD BMS SYSTEMS AND NEEDS OF CURRENT COMPANIES 106
5.19.1 OFF-THE-SHELF BMS SYSTEMS 106
5.19.2 BMS CUSTOMIZATION NEEDS OF CURRENT COMPANIES 107
5.19.3 QUALITY AND PRICE REQUIREMENTS 107
5.19.4 SMART VS NON-SMART BMS 108
5.19.5 VOLTAGE SYSTEM NEEDS 109
5.19.6 BATTERY CHEMISTRY AND VARIATIONS 109
5.19.7 NUMBER OF CELLS 109
5.19.8 COMMUNICATION PROTOCOLS 110
5.19.9 OTHER FACTORS 110
5.20 MARKET READINESS FOR THE PRODUCT (BMS SYSTEMS) 110
5.20.1 EV PRODUCTION AND BMS REQUIREMENTS 110
5.20.2 STANDARDIZATION AND REGULATIONS 111
5.20.3 COST SENSITIVITY 111
5.20.4 TECHNICAL EXPERTISE AND REQUIREMENTS 111
5.20.5 OEMS AND BATTERY MANUFACTURERS POV 111
5.20.6 OTHER FACTORS 112
5.21 TYPES OF BATTERY MANAGEMENT SYSTEMS 112
5.22 EXISTING EV PRODUCTION LOCATIONS IN INDIA 113
5.23 IMPORTANCE OF BMS IN ELECTRIC VEHICLES 114
5.24 PRIMARY CHALLENGES OEMS FACE WITH EXISTING BATTERY MANAGEMENT SYSTEMS 114
5.25 IMPORTANCE OF BATTERY PERFORMANCE OPTIMIZATION 115
5.26 INTEGRATION OF IOT IN BMS AND ITS DEMAND 115
5.27 BATTERY MANAGEMENT SYSTEM THAT WITH PREDICTIVE MAINTENANCE CAPABILITIES 116
5.28 GOVERNMENT REGULATIONS AND POLICIES FOR BMS 116
5.29 PREDOMINATING BATTERY CHEMISTRIES 117
5.30 BATTERY CAPACITIES RANGE BASED ON APPLICATIONS 118
5.31 ARRANGEMENT OF CELLS IN BMS 118
5.32 BMS POWER SWITCHING SOLUTIONS 119
5.33 POTENTIAL FOR SWAPPABLE BATTERIES IN INDIA 120
5.34 POTENTIAL FOR HOT SWAP TECHNOLOGY 121
5.35 BMS WITH A COMMON PORT FOR BOTH CHARGING AND DISCHARGING 121
5.36 SWITCHING SUPPLIERS FOR BATTERY MANAGEMENT SYSTEMS 122
6 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TYPE 124
6.1 OVERVIEW 124
6.2 WIRED BMS 125
6.3 WIRELESS BMS 125
7 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY CATEGORY 126
7.1 INTRODUCTION 126
7.2 HIGH VOLTAGE 128
7.2.1 CLASS 2 (≤ 600 VAC AND ≤ 900) 128
7.2.2 CLASS 3 (≤ 1000 VAC AND ≤ 1500 VDC) 129
7.3 LOW VOLTAGE CLASS 1 (≤ 30 VAC AND ≤ 60 VDC) 129
8 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TOPOLOGY 131
8.1 INTRODUCTION 131
8.2 CENTRALIZED 133
8.3 DECENTRALIZED 133
8.3.1 MODULAR 133
8.3.2 MASTER-SLAVE 133
8.3.3 DISTRIBUTED 133
9 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY BATTERY CHEMISTRY 135
9.1 INTRODUCTION 135
9.2 LEAD-ACID BATTERY 136
9.3 LITHIUM-ION BATTERY 137
9.4 NICKEL METAL HYDRIDE 137
9.5 OTHERS 137
10 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY APPLICATION 138
10.1 INTRODUCTION 138
10.2 BATTERY ELECTRIC VEHICLES 139
10.3 HYBRID ELECTRIC VEHICLES 140
10.4 PLUG-IN HYBRID ELECTRIC VEHICLES 140
11 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE 141
11.1 INTRODUCTION 141
11.2 PASSENGER CAR 143
11.3 COMMERCIAL VEHICLE 143
11.3.1 LIGHT COMMERCIAL VEHICLES (LCVS) 143
11.3.2 TRUCKS 144
11.3.3 BUSES 144
11.4 TWO & THREE-WHEELERS 144
11.5 OTHERS 144
12 COMPETITIVE LANDSCAPE (OEMS) 145
12.1 INTRODUCTION 145
12.2 KEY PLAYERS MARKET SHARE ANALYSIS, 2023 (%) BY VALUE (USD MILLION) & VOLUME (UNITS) 146
12.2.1 PASSENGER AND CV SEGMENT 146
12.2.2 TWO AND THREE-WHEELER SEGMENT 147
12.3 KEY PLAYERS YEARLY PRODUCTION CAPACITY AND PRODUCTION 148
12.3.1 KEY PLAYERS YEARLY PRODUCTION CAPACITY AND PRODUCTION 148
12.4 COMPETITOR DASHBOARD 150
12.5 KEY DEVELOPMENTS & GROWTH STRATEGIES 151
12.5.1 PRODUCT LAUNCH & ANNOUNCEMENTS 151
12.5.2 EXPANSION & INVESTMENT 152
13 COMPETITIVE LANDSCAPE (BMS MANUFACTURERS) 153
13.1 INTRODUCTION 153
13.2 COMPETITIVE ADVANTAGE BY KEY BMS PLAYERS 153
13.3 COMPETITOR DASHBOARD 154
13.4 KEY PLAYERS MARKET SHARE ANALYSIS, 2023 (%) BY VALUE (USD MILLION) & VOLUME (UNITS) 155
13.4.1 KEY PLAYERS MARKET SHARE ANALYSIS, 2023 (%) BY VALUE (USD MILLION) 155
13.5 DOMESTIC AND INTERNATIONAL BMS SYSTEMS COMPANIES SUPPLYING TO INDIAN EV MARKET 156
13.5.1 DOMESTIC AND INTERNATIONAL BMS SYSTEMS COMPANIES SUPPLYING TO INDIAN EV MARKET 156
13.6 KEY PLAYERS YEARLY PRODUCTION 157
13.6.1 KEY PLAYERS YEARLY PRODUCTION 157
13.7 KEY DEVELOPMENTS & GROWTH STRATEGIES 158
13.7.1 PARTNERSHIP 158
13.7.2 PRODUCT LAUNCH 158
14 COMPANY PROFILE 160
14.1 MAXWELL INC. 160
14.1.1 COMPANY OVERVIEW 160
14.1.2 FINANCIAL OVERVIEW 161
14.1.3 PRODUCTS OFFERED 161
14.1.4 IMAGE 163
14.1.5 KEY DEVELOPMENTS 164
14.1.6 SWOT ANALYSIS 164
14.1.7 KEY CUSTOMERS 165
14.1.8 KEY STRATEGIES 165
14.2 RENON INDIA PVT LTD. 166
14.2.1 COMPANY OVERVIEW 166
14.2.2 FINANCIAL OVERVIEW 167
14.2.3 PRODUCTS OFFERED 167
14.2.4 IMAGE 167
14.2.5 KEY DEVELOPMENTS 168
14.2.6 SWOT ANALYSIS 169
14.2.7 KEY CUSTOMERS 169
14.2.8 KEY STRATEGIES 169
14.3 AUTOVEN PRIVATE LIMITED 170
14.3.1 COMPANY OVERVIEW 170
14.3.2 FINANCIAL OVERVIEW 170
14.3.3 PRODUCTS OFFERED 171
14.3.4 IMAGE 171
14.3.5 KEY DEVELOPMENTS 171
14.3.6 SWOT ANALYSIS 172
14.3.7 KEY CUSTOMERS 172
14.3.8 KEY STRATEGIES 172
14.4 LITHION POWER 173
14.4.1 COMPANY OVERVIEW 173
14.4.2 FINANCIAL OVERVIEW 174
14.4.3 PRODUCTS OFFERED 174
14.4.4 KEY DEVELOPMENTS 175
14.4.5 SWOT ANALYSIS 175
14.4.6 KEY CUSTOMERS 175
14.4.7 KEY STRATEGIES 175
14.5 ARGUS 176
14.5.1 COMPANY OVERVIEW 176
14.5.2 FINANCIAL OVERVIEW 177
14.5.3 PRODUCTS OFFERED 177
14.5.4 KEY DEVELOPMENTS 177
14.5.5 SWOT ANALYSIS 177
14.5.6 KEY CUSTOMERS 178
14.5.7 KEY STRATEGIES 178
14.6 EVOLUTE 179
14.6.1 COMPANY OVERVIEW 179
14.6.2 FINANCIAL OVERVIEW 180
14.6.3 PRODUCTS OFFERED 180
14.6.4 IMAGE 180
14.6.5 KEY DEVELOPMENTS 181
14.6.6 SWOT ANALYSIS 182
14.6.7 KEY CUSTOMERS 182
14.6.8 KEY STRATEGIES 182
14.7 INVERTED ENERGY PVT LTD 183
14.7.1 COMPANY OVERVIEW 183
14.7.2 FINANCIAL OVERVIEW 183
14.7.3 PRODUCTS OFFERED 184
14.7.4 IMAGE 184
14.7.5 KEY DEVELOPMENTS 185
14.7.6 SWOT ANALYSIS 185
14.7.7 KEY CUSTOMERS 185
14.7.8 KEY STRATEGIES 185
14.8 BATTRIXX 186
14.8.1 COMPANY OVERVIEW 186
14.8.2 FINANCIAL OVERVIEW 186
14.8.3 PRODUCTS OFFERED 187
14.8.4 IMAGE 187
14.8.5 KEY DEVELOPMENTS 188
14.8.6 SWOT ANALYSIS 188
14.8.7 KEY CUSTOMERS 189
14.8.8 KEY STRATEGIES 189
14.9 BACANCY 190
14.9.1 COMPANY OVERVIEW 190
14.9.2 FINANCIAL OVERVIEW 191
14.9.3 PRODUCTS OFFERED 191
14.9.4 IMAGE 191
14.9.5 KEY DEVELOPMENTS 192
14.9.6 SWOT ANALYSIS 193
14.9.7 KEY CUSTOMERS 193
14.9.8 KEY STRATEGIES 193
14.10 REVOGREEN 194
14.10.1 COMPANY OVERVIEW 194
14.10.2 FINANCIAL OVERVIEW 194
14.10.3 PRODUCTS OFFERED 195
14.10.4 IMAGE 195
14.10.5 KEY DEVELOPMENTS 196
14.10.6 SWOT ANALYSIS 196
14.10.7 KEY CUSTOMERS 197
14.10.8 KEY STRATEGIES 197
14.11 DALY BMS 198
14.11.1 COMPANY OVERVIEW 198
14.11.2 FINANCIAL OVERVIEW 198
14.11.3 PRODUCTS OFFERED 198
14.11.4 IMAGE 202
14.11.5 KEY DEVELOPMENTS 203
14.11.6 SWOT ANALYSIS 203
14.11.7 KEY CUSTOMERS 204
14.11.8 KEY STRATEGIES 204
14.12 SENSATA TECHNOLOGIES 205
14.12.1 COMPANY OVERVIEW 205
14.12.2 FINANCIAL OVERVIEW 206
14.12.3 PRODUCTS OFFERED 206
14.12.4 IMAGE 209
14.12.5 KEY DEVELOPMENTS 210
14.12.6 SWOT ANALYSIS 211
14.12.7 KEY CUSTOMERS 211
14.12.8 KEY STRATEGIES 211
14.13 ROBERT BOSCH 212
14.13.1 COMPANY OVERVIEW 212
14.13.2 FINANCIAL OVERVIEW 213
14.13.3 PRODUCTS OFFERED 213
14.13.4 IMAGE 214
14.13.5 KEY DEVELOPMENTS 214
14.13.6 SWOT ANALYSIS 214
14.13.7 KEY CUSTOMERS 215
14.13.8 KEY STRATEGIES 215
14.14 AEIDTH TECHNOLOGIES 216
14.14.1 COMPANY OVERVIEW 216
14.14.2 FINANCIAL OVERVIEW 216
14.14.3 PRODUCTS OFFERED 216
14.14.4 IMAGE 218
14.14.5 KEY DEVELOPMENTS 219
14.14.6 SWOT ANALYSIS 219
14.14.7 KEY CUSTOMERS 219
14.14.8 KEY STRATEGIES 219
14.15 WEBBER ELECTROCORP 220
14.15.1 COMPANY OVERVIEW 220
14.15.2 FINANCIAL OVERVIEW 220
14.15.3 PRODUCTS OFFERED 220
14.15.4 IMAGE 221
14.15.5 KEY DEVELOPMENTS 221
14.15.6 SWOT ANALYSIS 221
14.15.7 KEY CUSTOMERS 222
14.15.8 KEY STRATEGIES 222
15 MRFR ANALYST RECOMMENDATIONS 223
15.1 EXPANSION STRATEGIES 223
15.2 PRICING STRATEGIES 223
15.3 MARKET POSITIONING STRATEGIES 223
15.4 INVESTMENT STRATEGIES 224
15.5 EV AND BATTERY MANUFACTURERS NEEDS AND PAIN POINTS 224
15.6 TOP PERFORMING MARKET SEGMENTS AND MARKET ENTRY OR EXPANSION EFFORTS 224
15.7 TECHNOLOGY REQUIREMENTS/DEMAND 225
15.8 MARKET POTENTIAL 225
15.9 MARKET COMPETITION 225
15.10 MANUFACTURING & INNOVATION 226
15.11 CHANNELS & PARTNERSHIPS 226
15.12 REGULATORY LANDSCAPE 226
15.13 ADJACENT MARKETS 227
15.14 MARKETING & BRANDING 227
15.15 PROFITABILITY 228
LIST OF TABLES
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 39
TABLE 2 STATE-WISE POLICIES 44
TABLE 3 COMPARISON OF LFP WITH NMC IN THE INDIAN MARKET 46
TABLE 4 THE TABLE BELOW ILLUSTRATES THE SPECIFIC EFFORTS MADE BY EV OEMS: 47
TABLE 5 OEMS STEEP DECLINE IN MARCH SALES 2019 VS 2020 56
TABLE 6 REGULATORY/CERTIFICATIONS/LICENSES/STANDARDS OUTLOOK 69
TABLE 7 PATENT OUTLOOK 72
TABLE 8 PRICING TREND ANALYSIS, ($/UNIT) 80
TABLE 9 PERMISSIBLE CHARGE AND DISCHARGE TEMPERATURES OF COMMON RECHARGEABLE BATTERIES. THE TABLE EXCLUDES SPECIALTY BATTERIES THAT ARE DESIGNED TO CHARGE OUTSIDE THESE PARAMETERS 90
TABLE 10 MARKET SIZING OUTLOOK (USD MILLION) (UNITS) (2018-2032) 106
TABLE 11 TYPES OF BATTERY MANAGEMENT SYSTEMS IN A TABLE: 112
TABLE 12 EXISTING EV PRODUCTION LOCATIONS IN INDIA 113
TABLE 13 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TYPE, 2018-2032 (USD MILLION) 124
TABLE 14 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TYPE, 2018-2032 (UNITS) 124
TABLE 15 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY CATEGORY, 2018-2032 (USD MILLION) 126
TABLE 16 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY CATEGORY, 2018-2032 (UNITS) 127
TABLE 17 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY HIGH VOLTAGE, 2018-2032 (USD MILLION) 127
TABLE 18 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY HIGH VOLTAGE, 2018-2032 (UNITS) 127
TABLE 19 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TOPOLOGY, 2018-2032 (USD MILLION) 131
TABLE 20 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TOPOLOGY, 2018-2032 (UNITS) 131
TABLE 21 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY DECENTRALIZED, 2018-2032 (USD MILLION) 132
TABLE 22 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY DECENTRALIZED, 2018-2032 (UNITS) 132
TABLE 23 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY BATTERY CHEMISTRY, 2018-2032 (USD MILLION) 135
TABLE 24 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY BATTERY CHEMISTRY, 2018-2032 (UNITS) 136
TABLE 25 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 138
TABLE 26 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY APPLICATION, 2018-2032 (UNITS) 139
TABLE 27 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, 2018-2032 (USD MILLION) 141
TABLE 28 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, 2018-2032 (UNITS) 141
TABLE 29 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY COMMERCIAL VEHICLE, 2018-2032 (USD MILLION) 142
TABLE 30 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY COMMERCIAL VEHICLE, 2018-2032 (UNITS) 142
TABLE 31 PASSENGER VEHICLE SEGMENT (VALUE) 146
TABLE 32 PASSENGER VEHICLE SEGMENT (VOLUME) 146
TABLE 33 COMMERICAL VEHICLE SEGMENT (VALUE) 146
TABLE 34 COMMERICAL VEHICLE SEGMENT (VOLUME) 147
TABLE 35 TWO-WHEELER SEGMENT (VALUE) 147
TABLE 36 TWO-WHEELER SEGMENT (VOLUME) 147
TABLE 37 THREE-WHEELER SEGMENT (VALUE) 148
TABLE 38 THREE-WHEELER SEGMENT (VOLUME) 148
TABLE 39 KEY PLAYERS YEARLY PRODUCTION CAPACITY 148
TABLE 40 KEY PLAYERS YEARLY PRODUCTION 149
TABLE 41 PRODUCT LAUNCH & ANNONCEMENTS 151
TABLE 42 EXPANSION & INVESTMENT 152
TABLE 43 KEY PLAYERS MARKET SHARE ANALYSIS, 2023 (%) BY VALUE (USD MILLION) 155
TABLE 44 KEY PLAYERS MARKET SHARE ANALYSIS, 2023 (%) BY VOLUME (UNITS) 155
TABLE 45 DOMESTIC AND INTERNATIONAL BMS SYSTEMS COMPANIES SUPPLYING TO INDIAN EV MARKET 156
TABLE 46 KEY PLAYERS YEARLY PRODUCTION CAPACITY AND PRODUCTION 157
TABLE 47 PARTNERSHIP 158
TABLE 48 PRODUCT LAUNCH 158
TABLE 49 MAXWELL INC.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 161
TABLE 50 MAXWELL INC.: KEY DEVELOPMENTS 164
TABLE 51 RENON INDIA PVT LTD.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 167
TABLE 52 AUTOVEN PRIVATE LIMITED: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 171
TABLE 53 LITHION POWER: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 174
TABLE 54 ARGUS: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 177
TABLE 55 EVOLUTE: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 180
TABLE 56 INVERTED ENERGY PVT LTD: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 184
TABLE 57 BATTRIXX: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 187
TABLE 58 BACANCY: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 191
TABLE 59 REVOGREEN: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 195
TABLE 60 DALY BMS: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 198
TABLE 61 DALY BMS: KEY DEVELOPMENTS 203
TABLE 62 SENSATA TECHNOLOGIES: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 206
TABLE 63 SENSATA TECHNOLOGIES: KEY DEVELOPMENTS 210
TABLE 64 ROBERT BOSCH: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 213
TABLE 65 AEIDTH TECHNOLOGIES: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 216
TABLE 66 WEBBER ELECTROCORP: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 220
LIST OF FIGURES
FIGURE 1 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET: STRUCTURE 26
FIGURE 2 INDIA BATTERY MANAGEMENT SYSTEM (BMS) MARKET: MARKET GROWTH FACTOR ANALYSIS (2018-2032) 42
FIGURE 3 DRIVER IMPACT ANALYSIS (2022-2032) 48
FIGURE 4 RESTRAINT IMPACT ANALYSIS (2022-2032) 50
FIGURE 5 Y-O-Y ELECTRIC VEHICLE SALES TREND 62
FIGURE 6 SALES TREND BY VEHICLE CATEGORY 62
FIGURE 7 VALUE CHAIN: INDIA BATTERY MANAGEMENT SYSTEM (BMS) MARKET 64
FIGURE 8 PORTER'S FIVE FORCES ANALYSIS OF THE INDIA BATTERY MANAGEMENT SYSTEM (BMS) MARKET 66
FIGURE 9 BATTERY MANAGEMENT SYSTEM (BMS): SWOT ANALYSIS 68
FIGURE 10 BATTERY CHEMISTRIES & THEIR PERFORMANCE 88
FIGURE 11 EXISTING CAPACITIES OF KEY LIB BATTERY PACK MANUFACTURERS 89
FIGURE 12 MCU MARKET HISTORY & FORECAST 102
FIGURE 13 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TYPE, 2023 & 2032 (USD MILLION) 124
FIGURE 14 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TYPE, 2023 (% SHARE) 125
FIGURE 15 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY CATEGORY, 2023 & 2032 (USD MILLION) 126
FIGURE 16 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY CATEGORY, 2023 (% SHARE) 128
FIGURE 17 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TOPOLOGY, 2023 & 2032 (USD MILLION) 131
FIGURE 18 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TOPOLOGY, 2023 (% SHARE) 132
FIGURE 19 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY BATTERY CHEMISTRY, 2023 & 2032 (USD MILLION) 135
FIGURE 20 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY BATTERY CHEMISTRY, 2023 (% SHARE) 136
FIGURE 21 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY APPLICATION, 2023 & 2032 (USD MILLION) 138
FIGURE 22 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY APPLICATION, 2023 (% SHARE) 139
FIGURE 23 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, 2023 & 2032 (USD MILLION) 141
FIGURE 24 INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, 2023 (% SHARE) 143
FIGURE 25 COMPETITOR DASHBOARD: INDIA BATTERY MANAGEMENT SYSTEM (BMS) MARKET 150
FIGURE 26 COMPETITOR DASHBOARD: INDIA BATTERY MANAGEMENT SYSTEM (BMS) MARKET 154
THIS IS A PRIVATELY HELD COMPANY. THUS, FINANCIAL REPORTS ARE NOT AVAILABLE ON PUBLIC DOMAIN. 161
FIGURE 27 MAXWELL INC.: BMS IMAGE 163
FIGURE 28 MAXWELL INC.: SWOT ANALYSIS 164
THIS IS A PRIVATELY HELD COMPANY. THUS, FINANCIAL REPORTS ARE NOT AVAILABLE ON PUBLIC DOMAIN. 167
FIGURE 29 RENON INDIA PVT LTD.: BMS IMAGE 167
FIGURE 30 RENON INDIA PVT LTD.: SWOT ANALYSIS 169
FIGURE 31 AUTOVEN PRIVATE LIMITED: BMS IMAGE 171
FIGURE 32 AUTOVEN PRIVATE LIMITED: SWOT ANALYSIS 172
FIGURE 33 LITHION POWER: SWOT ANALYSIS 175
FIGURE 34 ARGUS: SWOT ANALYSIS 177
FIGURE 35 EVOLUTE: BMS IMAGE 180
FIGURE 36 EVOLUTE: SWOT ANALYSIS 182
FIGURE 37 INVERTED ENERGY PVT LTD: BMS IMAGE 184
FIGURE 38 INVERTED ENERGY PVT LTD: SWOT ANALYSIS 185
FIGURE 39 BATTRIXX: BMS IMAGE 187
FIGURE 40 BATTRIXX: SWOT ANALYSIS 188
FIGURE 41 BACANCY: BMS IMAGE 191
FIGURE 42 BACANCY: SWOT ANALYSIS 193
FIGURE 43 REVOGREEN: BMS IMAGE 195
FIGURE 44 REVOGREEN: SWOT ANALYSIS 196
THIS IS A PRIVATELY HELD COMPANY. THUS, FINANCIAL REPORTS ARE NOT AVAILABLE ON PUBLIC DOMAIN. 198
FIGURE 45 DALY BMS: BMS IMAGE 202
FIGURE 46 DALY BMS: SWOT ANALYSIS 203
FIGURE 47 SENSATA TECHNOLOGIES: FINANCIAL OVERVIEW SNAPSHOT 206
FIGURE 48 SENSATA TECHNOLOGIES: BMS IMAGE 209
FIGURE 49 SENSATA TECHNOLOGIES: SWOT ANALYSIS 211
FIGURE 50 ROBERT BOSCH: FINANCIAL OVERVIEW SNAPSHOT 213
FIGURE 51 ROBERT BOSCH: BMS IMAGE 214
FIGURE 52 ROBERT BOSCH: SWOT ANALYSIS 214
FIGURE 53 AEIDTH TECHNOLOGIES: BMS IMAGE 218
FIGURE 54 AEIDTH TECHNOLOGIES: SWOT ANALYSIS 219
FIGURE 55 WEBBER ELECTROCORP: BMS IMAGE 221
FIGURE 56 WEBBER ELECTROCORP: SWOT ANALYSIS 221
