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 key growth drivers for the market are continuously increasing vehicle production, rising emission concerns, and growing demand for luxury vehicles and fuel-efficient vehicles.
Leading players adopted key strategies such as supply contracts, new product developments, collaborations, joint ventures, partnerships, and agreements to gain traction in the automotive battery sensor market. For instance, in March 2018, Continental and Chinese automotive supplier and battery manufacturer CITC (Sichuan Chengfei Integration Technology Co., Ltd.) established a joint venture for the development and production of 48-volt battery systems for the automotive industry. In the JV, Continental holds 60% and CITC 40% of the total shares and are likely to operate globally and supply customers in Europe and North America, as well as China and other Asian markets.
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New product development was another strategy widely followed by major players to gain traction in the automotive battery sensor market. For instance, in August 2017, HELLA introduced new second-generation Intelligent Battery Sensors (IBS), especially for caravans, recreational vehicles, and marine sectors. These sensors are equipped with the very latest technology from the automotive industry. They would enable users to determine the state-of-charge, state-of-function, and state-of-health of the battery.
Continental (Germany) is one of the key players in the automotive battery sensor market. The company offers intelligent battery sensors under the chassis and safety segment. Intelligent Battery Sensor (IBS) from Continental provides information about key parameters such as the state-of-charge, state-of-function (power ability), and state-of-health (aging) of the battery. The automotive group operates through divisions such as Chassis & Safety, Powertrain, and Interior, while the rubber group operates through the Tires and ContiTech divisions. Continental is expanded its product line. Starting in January 2019, Continental would offer fuel filters, oil filters, passenger compartment filters, and air filters in the European automotive aftermarket. The product range would also include windshield wipers and batteries.
Another important player in the automotive battery sensor market is Bosch (Germany). It operates through 4 divisions, namely, mobility solutions, industrial technology, consumer goods & energy, and energy and building technology. In its mobility solutions segment, the company offers electronic battery sensors under body electronics. The company also offers control & monitoring systems for a vehicle’s electrical system. Bosch’s new 48-volt battery for hybrids is in demand by automakers across the globe. The innovative 48-volt battery is standardized for easy integration into new vehicle models. The installation of lithium-ion batteries would benefit not only compact cars but mini- and microcars as well. The production of these batteries is scheduled to start in late 2018.
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