The Automotive Battery Sensor Market is projected to grow at a CAGR of 11.09% during the forecast period, to reach USD 4.92 billion by 2025. The rising demand for fuel-efficient vehicles and light commercial vehicles has led to an increase in the demand for automotive battery sensors.
Automotive battery sensors help to increase the battery life by up to 20% which leads to better fuel efficiency in vehicles. The automotive battery sensor market includes Intelligent Battery Sensors (IBSs). IBS is a shunt-type sensor that analyzes the battery pack and provides information about voltage, current, and temperature. It is directly mounted on the negative terminal of the battery in a vehicle. IBS monitors the battery continuously and provides information about 3 main parameters. These 3 parameters are state-of-charge, state-of-function (power ability), and state-of-health (aging) of the battery. The monitoring of the battery helps to identify defects and provides this information to the driver. Hence, vehicle breakdowns due to battery issues can be minimized with the help of IBS.
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The growth of the automotive battery sensor market can be attributed to the increasing stringency of emission norms worldwide, rising adoption of electrical & electronic components, increasing vehicle production, and rising demand for luxury vehicles.
Asia Pacific is estimated to be the fastest growing market for automotive battery sensors. The market growth in the region can be attributed to the production expansions made by automobile manufacturers to meet the rising consumer demand for luxury vehicles and fuel-efficient vehicles in Japan, India, China, and South Korea. Also, emission norms to curb CO2 are becoming stringent. Thus, the use of IBS for batteries is likely to drive the automotive battery sensor market in the region. Moreover, China & India are planning to implement China VI and Bharat Stage VI which is equivalent to Euro VI for combatting against rising emissions. This move is likely to fuel the overall market in the region.
The automotive battery sensor market for the 12V battery segment is also expected to grow due to its low-cost benefit. Also, 12V batteries are used in regenerative brake technology, start/stop system, and others. Moreover, the continuous rise in the production of vehicles and stringent emission norms to curb CO2 would prosper the overall growth. Also, several companies have developed a 12V IBS, which can help increase the battery life. For instance, Continental has developed an intelligent battery sensor for a 12V battery, which can increase the battery life by up to 20%.
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The market growth in the passenger car segment can be attributed to growing production of passenger cars, rising demand for fuel-efficient vehicles, increasingly stringent emission norms, and increasing use of advanced technologies and electronic components. High demand for personal mobility, increasing per capita income, and improved lifestyle are driving the sales of passenger cars. Also, OEMs are focusing on curbing CO2 emissions by adopting the IBS technology.
The market for CAN is the fastest growing due to its light-weight network and high-speed transmission. CAN uses simple wiring harness in-vehicle networks, decreases wiring cost, complexity, and weight. CAN is a peer-to-peer network, that is, every individual node has permission to read and write data on the CAN bus. The CAN system gives bus access to the top priority node if multiple nodes try to send message onto the CAN bus. When CAN bus becomes available, the low priority node automatically gets the bus access. The CAN technology is used for a large number of applications in a vehicle. IBS also uses CAN interface along with LIN if the communication has to be faster and lengthier.
The market for PHEVs is growing at a faster rate. PHEVs are popular in the large vehicle segment owing to the increased complexity and rising development costs of dual powertrain systems used in smaller cars. Moreover, the increasing sales of PHEVs can also be attributed to government incentives. The rising demand for PHEVs would increase the demand for the automotive battery sensor market.
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