Albany, NY -- (SBWIRE) -- 09/13/2018 -- An automotive lithium-ion battery controller is a lithium-ion battery regulator, which monitors and prevents the lithium-ion battery from overcharging. Overcharging of a lithium-ion battery reduces lifespan and performance of the battery, which is protected by the automotive lithium-ion battery controller. The automotive lithium-ion battery controller is a part of the battery control management, which extends lithium-ion battery capacity, improves battery lifespan, and monitors the battery charging process.
Rise in demand for clean and pollution-free environment around the world has led to the increase in sales and production of electric vehicles across the globe. The battery being the heart of an electric vehicle (lithium-ion battery are widely used in vehicle) requires regular control and maintenance. This is projected to augment the automotive lithium-ion battery controller market during the forecast period. Increase in support from governments and incentives for electric vehicles have prompted users to opt for electric vehicles, thereby boosting electric vehicle sales. This is expected to be a key driver of the automotive lithium-ion battery controller market during the forecast period. A lithium-ion battery controller offers numerous benefits such as maintenance of voltage regulation, enhanced battery efficiency, reliability, affordability, and cost-effectiveness.
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This is expected to propel the automotive lithium-ion battery controller market in the near future. Currently, regulatory bodies around the world are providing various subsidies for electric vehicles, especially increase in public transport is projected to offer lucrative opportunities for electric vehicles. This, in turn, is estimated to boost the automotive lithium-ion battery controller market. However, the higher cost of electric vehicle is a major concern, which is restraint for the expansion of the electric vehicle market. A major share of the lithium-ion battery controller market is held by the electric vehicle segment. This can be prime restraint for the automotive lithium-ion battery controller market.
The automotive lithium-ion battery controller market can be segmented based on battery capacity, vehicle type, sales channel, and region. In terms of battery capacity, the automotive lithium-ion battery controller market can be divided into 5-25 Watt-hr, 48-95 Watt-hr, 4-30 KWatt-hr, 100-250 KWatt-hr, and > 300 KWatt-hr. The 4-30 KWatt-hr segment of automotive lithium-ion battery controller market is expected to witness expansion at a significant growth rate. Electric cars such as Toyota Prius, Ford Focus, and Mitsubishi MiEV are incorporated with 4-30 KWatt-hr power capacity.
Based on vehicle type, the automotive lithium-ion battery controller market can be split into passenger vehicle (PV) and commercial vehicle (CV). Rise in sales of passenger electric vehicles have led to a higher rate of adoption of automotive lithium-ion battery controller for passenger vehicle. The commercial vehicle segment is expected to witness expansion at a significant growth rate owing to the increase in fleet number of electric vehicles that are utilized for public transit, especially in developed countries.
Based on sales channel, the automotive lithium-ion battery controller market can be classified into OEMs and aftermarket. The aftermarket segment held a prominent share of the market. Rising demand for enhanced battery efficiency have led to higher sales of automotive lithium-ion battery controllers. The aftermarket segment of automotive lithium-ion battery controller market is projected to expand at a considerable growth rate during the forecast period.
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In terms of geography, the global automotive lithium-ion battery controller market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe held a prominent share of the global automotive lithium-ion battery controller market. This is primarily attributed to the increase in sales of electric vehicles in the region, especially in Germany, Norway, the U.K., France, and the Netherlands. The automotive lithium-ion battery controller market in the region is projected to expand owing to the presence of major OEMs and auto manufactures in the region. Stringent norms and standards regarding emission by the European Union are estimated to be a key factor driving the automotive lithium-ion battery controller market.
Key players operating in the global automotive lithium-ion battery controller market include Texas Instruments Incorporated., Microchip Technology Inc., NXP Semiconductors, Eternity Power Solutions Pvt. Ltd., Maxim Integrated, Schneider Electric, Infineon Technologies AG, and Honeywell International Inc.