India Battery Management System (BMS) for Electric Vehicles Market Research Report: By Type (Wired BMS, and Wireless BMS), by Category (High Voltage (Class 2, and Class 3), and Low Voltage Class 1), by Topology (Centralized, Decentralized (Modular, Master-Slave, Distributed)), by Battery Chemistry (Lead-Acid Battery, Lithium-Ion Battery, Nickle Metal Hydride, and Others), By Application (Battery Electric Vehicle, Hybrid Electric Vehicles, and Plug-in Hybrid Vehicle), and by Vehicle Type (Passenger Car, Commercial Vehicle (Light Commercial V

India Battery Management System (BMS) for Electric Vehicles Market Overview

India Battery Management System (BMS) for Electric Vehicles Market Size was valued at USD 127.7 million in 2023. The Battery Management System (BMS) for Electric Vehicles Market industry is projected to grow from USD 199.0 Million in 2024 to USD 3,016.0 million by 2032, exhibiting a compound annual growth rate (CAGR) of 40.5% during the forecast period (2024- 2032).  

As cars with internal combustion engines are being phased out gradually, more complex BMS are required to manage batteries efficiently. Emerging technologies embedded in battery management systems, for instance electrical impedance spectroscopy (EIS) are improving battery management by offering real time evaluations of the battery condition, which is vital when determining SoC and RUL. In addition, innovations in battery chemistries such as LFP, NMC, and Sodium-ion batteries are changing the market of battery management. Since, these technological advancements and the changing chemistries of batteries are giving rise to complex BMS, for better battery management supporting general efficiency, safety and cost factors within India’s continuously growing market.

As per Analyst at MRFR, “The India market for Battery Management System (BMS) for Electric Vehicles is witnessing a significant growth rate driven by various factors including increasing demand for electric vehicles and supportive government initiatives globally”.

FIGURE 1: INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET SIZE 2019-2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Battery Management System (BMS) for Electric Vehicles Market Driver

GROWING DEMAND FOR ELECTRIC VEHICLES (EVS)

The burgeoning electric vehicle (EV) industry in India is significantly fueling the demand for battery management systems (BMS). According to the studies and news articles a remarkable surge in EV sales across various segments, reflecting a shift toward sustainable transportation solutions and consequently driving the need for advanced BMS technologies

In the fiscal year 2023-24, India saw a dramatic increase in EV registrations. Electric passenger vehicle sales nearly doubled, reaching 90,996 units, up from 47,551 units in FY23, representing a 91% increase. This substantial growth is led by Tata Motors, which reported a 66% rise in registrations, underscoring the expanding consumer preference for electric cars. Similarly, electric two-wheeler sales surged by 30% to 9,47,087 units, with Ola Electric and TVS Motor Company emerging as significant players. The electric three-wheeler segment also experienced a 56% growth, with notable contributions from Mahindra Group. Even electric commercial vehicles saw a three-fold increase, highlighting an overarching trend towards electrification in diverse vehicle categories.

This exponential growth in EV sales is pivotal in driving the demand for BMS. As EV adoption expands, the complexity of battery systems increases, necessitating sophisticated management solutions to ensure battery safety, efficiency, and longevity. BMS technologies are critical in monitoring battery health, managing charging cycles, and preventing issues such as overcharging or overheating. With the increasing number of EVs on the road, the demand for reliable BMS systems that can handle larger volumes of data and provide real-time analytics is growing.

Moreover, the third-quarter surge in electric two-wheeler sales, as reported by VAHAN, demonstrates a continuous upward trend in EV adoption, reinforcing the need for effective BMS solutions. VAHAN’s role in automating vehicle registration and other processes underlines the increasing integration of technology in managing the growing number of EVs, further highlighting the essential role of BMS in this expanding market. Hence, the rapid growth of the EV market in India will drive the BMS market during the assessment period. As the adoption of electric vehicles continues to rise, the need for advanced BMS technologies to ensure battery safety, performance, and efficiency becomes ever more critical.

Battery Management System (BMS) for Electric Vehicles Market Segment Insights:

Battery Management System (BMS) for Electric Vehicles Type Insights

Based on type, the India Battery Management System (BMS) for Electric Vehicles Market has been segmented into Wired BMS and Wireless BMS. Wired Battery Management Systems (BMS) remain the most widely adopted technology in electric vehicles (EVs) and continue to see high demand across the Indian market. These systems utilize physical wiring to connect battery cells, modules, and control units, enabling crucial functions such as monitoring battery health, managing charging and discharging cycles, and ensuring safety through real-time data collection and analysis. The wired BMS architecture is favored for its established reliability and robust performance in various environmental conditions. In India, where the EV market is expanding rapidly, the wired BMS's ability to provide detailed diagnostics and efficient battery management makes it an essential component for both OEMs and aftermarket solutions. Its widespread use can be attributed to its proven effectiveness in maintaining battery longevity, optimizing performance, and ensuring safety, which aligns with the needs of a diverse range of EV applications, from two-wheelers to commercial vehicles.

FIGURE 2: INDIA BATTERY MANAGEMENT SYSTEM (BMS) FOR ELECTRIC VEHICLES MARKET, BY TYPE, 2023 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Battery Management System (BMS) for Electric Vehicles Category Insights

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 systems (≤ 30 VAC and ≤ 60 VDC) are pivotal in the burgeoning electric two-wheeler market in India, particularly for electric scooters and motorcycles. These systems ensure the safety, efficiency, and cost-effectiveness of these vehicles. 

In June 2024, two-wheelers achieved a remarkable domestic sales milestone of 16,14,154 units, marking a year-on-year (YoY) growth of 21.2%. Motorcycles accounted for 10,30,906 units, up from 9,08,954 units in June 2023, while scooters registered a significant 40% growth, with 5,42,851 units sold compared to 3,87,373 units the previous year. Low Voltage Class 1 systems are integral to the functionality of electric two-wheelers, powering essential auxiliary functions like lighting, infotainment systems, sensors, and control units. These systems' voltage range ensures safety for passengers and maintenance personnel, reducing the risk of electric shock during maintenance or accidents. The Battery Management System (BMS) for Electric Vehicles is a crucial component within Low Voltage Class 1 systems, overseeing the monitoring and management of battery health, state of charge, and overall battery performance. 

The BMS ensures optimal battery usage, enhancing the efficiency and lifespan of electric two-wheeler batteries. This system also plays a vital role in balancing the charge among battery cells, preventing overcharging or deep discharge, which could damage the battery.

Battery Management System (BMS) for Electric Vehicles Topology Insights

Based on the topology segment, the market is bifurcated into Centralized and Decentralized. Decentralized is further categorized into Modular, Master-Slave, and Distributed. Centralized BMS is a prevalent choice for electric vehicles due to its simplicity and cost-effectiveness. This architecture involves a single central unit that manages and monitors the entire battery pack. 

It is responsible for measuring critical parameters such as voltage, temperature, and state of charge across all cells within the battery pack. The centralized BMS consolidates data from various cells and performs essential functions, including cell balancing, state estimation, and fault detection. By centralizing these tasks, it reduces the complexity of the system and minimizes the need for extensive wiring, making it an attractive option for cost-conscious manufacturers. Its widespread adoption in India due to its ability to efficiently handle the requirements of standard EV battery packs while providing reliable performance. The centralized approach ensures effective monitoring and management of battery health, contributing to the overall safety and longevity of electric vehicles in the Indian market.

Battery Management System (BMS) for Electric Vehicles Battery Chemistry Insights

Based on the battery chemistry segment, the market is bifurcated into Lead-Acid Battery, Lithium-Ion Battery, Nickel Metal Hydride, and Others. Lithium-ion batteries are the dominant chemistry in modern EVs due to their high energy density, long cycle life, and relatively low weight. They are used in a wide range of EVs, from passenger cars to high-performance vehicles, as they offer superior performance and efficiency compared to other chemistries. The BMS for lithium-ion batteries is critical for ensuring safe and optimal operation. 

It manages complex functions such as cell balancing, thermal management, state-of-charge estimation, and fault detection. The BMS monitors voltage, temperature, and current across individual cells to prevent issues like overcharging, overheating, or deep discharge, which could potentially lead to thermal runaway or decreased battery life. Lithium-ion BMS must be sophisticated to handle the high energy density and dynamic usage scenarios of modern EVs, ensuring both safety and longevity.

Battery Management System (BMS) for Electric Vehicles Application Insights

Based on the application segment, the market is bifurcated into Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles. In India, Battery Electric Vehicles (BEVs) are gaining traction as the country seeks to reduce carbon emissions and promote sustainable transportation. The Indian government has launched various incentives under schemes like FAME II to boost BEV adoption. Despite the push, challenges such as limited charging infrastructure and high upfront costs remain significant barriers. 

The BMS plays a crucial role in addressing these challenges by ensuring efficient energy use and extending battery life. BEVs benefit from advancements in BMS technology, which help in monitoring battery health, optimizing performance, and enhancing safety. Companies like Ola Electric are leading the charge with new models and local manufacturing, while advancements in solid-state batteries and improved BMS solutions are expected to drive future growth in the segment.

Battery Management System (BMS) for Electric Vehicles Vehicle Type Insights

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. The surge in electric two and three-wheelers highlights the increasing reliance on advanced Battery Management Systems (BMS). BMS technology is crucial for managing the energy needs of these vehicles, ensuring efficient battery use, and enhancing overall vehicle performance. As more manufacturers enter the electric market, the demand for sophisticated BMS solutions will grow, driving innovation and improvements in battery management to support the expanding electric two and three-wheeler sectors in India.

Battery Management System (BMS) for Electric Vehicles Key Market Players & Competitive Insights

The Indian electric vehicle (EV) market is witnessing a profound evolution, driven by the dynamic strategies of leading original equipment manufacturers (OEMs) like Ola Electric, Tata Motors, Bajaj Auto, and Ather Energy. These companies are not only pushing the boundaries of innovation within their product lines but are also redefining their manufacturing processes and market strategies to establish a comprehensive ecosystem for electric mobility in India. Their ambitious growth strategies are set to enhance market penetration and reshape the future trajectory of the EV industry in the country.

The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. According to MRFR analysis, the growth of the India Battery Management System (BMS) for Electric Vehicles Market is dependent on market conditions.

The growth of the vendors is dependent on market conditions, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. According to MRFR analysis, the growth of the India mountain bike market is dependent on market conditions. The key vendors in the market are 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. Major companies in the BMS market compete in terms of availability, quality, price, and technology. Regional and local players with small market shares have a significant presence.

Key Companies in the Battery Management System (BMS) for Electric Vehicles Market include.

• 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.


• Okaya EV PVT LTD


• Others

Battery Management System (BMS) for Electric Vehicles Industry Developments

• In August 2024, Ola Electric will unveil its first electric motorcycle on August 15, with pricing also announced. The teaser reveals LED headlights, DRL, and a windscreen, suggesting a street naked design. This model may feature the largest battery and motor, with more affordable variants expected in the future.


• In June 2024, Tata Motors, originally set to launch the Avinya concept electric car in 2025, now plans to introduce it as an electric car brand with multiple products. The Avinya, inspired by a catamaran, combines features of a premium hatch, SUV, and MPV, aiming to offer a new, versatile electric mobility experience.


• In May 2023, Mahindra & Mahindra reported a 24% revenue increase for FY 2023-24, totaling ₹76,156 crores. The company plans to launch 16 new SUVs by 2030, including nine combustion models and seven electric vehicles. Production capacity is set to expand to 64,000 units per month by FY 2025.

Battery Management System (BMS) for Electric Vehicles Market Segmentation:

Battery Management System (BMS) for Electric Vehicles Type Outlook

• Wired BMS


• Wireless BMS

Battery Management System (BMS) for Electric Vehicles Category Outlook

• High Voltage
  
  
  
  • Class 2 (<600 VAC and <900)
  
  
  • Class 3 (<1000 VAC and <1500 VDC)
  
  
  
  


• Low Voltage Class 1 (<30 VAC and <60 VAC)

Battery Management System (BMS) for Electric Vehicles Topology Outlook

• Centralized


• Decentralized
  
  
  
  • Modular
  
  
  • Master-Slave
  
  
  • Distributed
  
  
  
  

Battery Management System (BMS) for Electric Vehicles Battery Chemistry Outlook

• Lead-Acid Battery


• Lithium-Ion Battery


• Nickel Metal Hydride


• Others

Battery Management System (BMS) for Electric Vehicles Application Outlook

• Battery Electric Vehicles


• Hybrid Electric Vehicles


• Plug-in Hybrid Electric Vehicles

Battery Management System (BMS) for Electric Vehicles Vehicle Type Outlook

• 
  

  Passenger Car

  
  


• 
  

  Commercial Vehicle

  
  
  
  
  • Light Commercial Vehicle (LCVs)
  
  
  • Trucks
  
  
  • Buses
  
  
  
  


• 
  

  Two & Three Wheelers

  
  


• 
  

  Others