Battery Sensor Market Size, Share & Trends Analysis Report By Voltage, By Communication, By Vehicle Category, By Vehicle Type, By Region, And Segment Forecasts, 2024 - 2030

Battery Sensor Market Size & Trends

The global battery sensor market size was estimated at USD 3.46 billion in 2023 and is expected to grow at a CAGR of 11.0% from 2024 to 2030. The market consists of battery sensors that are used for monitoring the electric vehicle battery in the automotive industry. These sensors monitor and measure battery performance in order to help protect the vehicle and its components. Focus on battery safety and efficiency, evolving battery technology, and increasing adoption of electric vehicles are some of the key factors driving the battery sensor market’s growth.

Battery sensors enhance safety and efficiency by precisely measuring current, voltage, temperature, and calculate the battery's state of charge and function. They prevent issues like deep discharge, support CO2-saving technologies, and ensure a reliable power supply to critical vehicle systems. By maximizing battery life and supporting advanced vehicle features like predictive diagnostics, these sensors are crucial for vehicle electrification and automation. This functionality drives the growing adoption of battery sensors, contributing significantly to the market's growth.

In November 2023, United Safety & Survivability Corporation, an advanced safety solution provider, announced the launch of its latest innovation, a Lithium-Ion Battery Failure Detection System. This solution has the capability to detect battery failure at an early stage, which significantly increases battery safety. Such innovations are crucial for the growing adoption of electric vehicles, which rely on precise monitoring for optimal performance. With these technological advances, the demand for advanced battery sensors is rising, thus fueling the battery sensor market's growth.

The surging demand for electric vehicles (EVs) is fueling the need for advanced battery sensors, which are vital for ensuring optimal performance and longevity. These sensors offer real-time insights into vital metrics, ensuring efficient battery management and early detection of potential issues. The necessity for reliable battery management systems grows as EV adoption accelerates due to environmental and economic benefits. This heightened demand for efficient and safe battery operations is driving significant growth in the battery sensor market.

Despite the market's promising growth, one factor restraining the battery sensor market's growth is the high cost of advanced battery sensors, which can deter widespread adoption, especially in cost-sensitive markets. However, to overcome this challenge, industry players are investing in research and development to innovate and reduce production costs. Moreover, companies are also forming strategic partnerships to leverage shared resources and expertise, aiming to make advanced battery sensors more affordable. These efforts are expected to enhance market accessibility and support the continued growth of the battery sensor market.

Voltage Insights

Based on voltage, the 12V segment led the market and accounted for 45.6% of the global revenue in 2023 and is expected to retain its dominance over the forecast period. The 12V battery sensor segment is experiencing growth due to its low cost and essential role in technologies like regenerative braking and start/stop systems. The continuous rise in vehicle production and stringent emission norms aimed at reducing CO2 emissions are further driving demand. As automotive manufacturers focus on enhancing fuel efficiency and meeting regulatory standards, the adoption of 12V battery sensors is increasing, thus significantly contributing to the 12V segment’s growth.

The 24V segment is expected to register significant growth from 2024 to 2030. This growth is driven by the increasing adoption of electric commercial vehicles and buses, which typically use 24V electrical systems. These vehicles require robust battery sensors to monitor and optimize performance, ensuring reliable operation over extended periods. As cities and governments worldwide prioritize sustainable transport solutions, the demand for electric buses and commercial vehicles is rising, further boosting the need for advanced 24V battery sensors, thus contributing to the segment’s growth.

Communication Insights

The Controller Area Network (CAN) segment accounted for the largest market revenue share in 2023. The segment’s growth is driven by its ability to support high-speed communication and robust data transmission capabilities. CAN technology facilitates real-time monitoring of critical battery parameters such as voltage, current, and temperature in electric vehicles (EVs), ensuring efficient operation and safety. As automakers increasingly integrate advanced electronic control systems in vehicles, the demand for CAN-based battery sensors is expanding.

The Local Interconnect Network (LIN) segment is expected to grow significantly from 2024 to 2030. The LIN segment is witnessing growth primarily due to its cost-effectiveness and suitability for less demanding communication tasks within automotive systems. LIN technology provides reliable communication for monitoring secondary battery parameters and supporting basic functionalities in EVs, such as peripheral device control. As vehicle manufacturers seek to optimize costs while ensuring reliable performance, the demand for LIN-based batteries is expected to grow.

Vehicle Category Insights

The passenger car segment accounted for the largest market revenue share in 2023. The growing consumer preference for hybrid and electric passenger cars is driving the demand for battery sensors within this segment. Battery sensors are crucial for managing power efficiently and ensuring optimal battery health. As automakers focus on extending driving ranges and improving charging times for passenger cars, the demand for advanced sensors capable of real-time monitoring and predictive maintenance is expected to rise further, driving the adoption of battery sensors in passenger cars.

The light commercial vehicle segment is expected to register the highest CAGR from 2024 to 2030. Light commercial vehicles are used in various applications such as urban delivery fleets, small-scale logistics, and school transport, among others. In light commercial vehicles, battery sensors are used to maintain fleet uptime and optimize energy consumption in these vehicles. Key market players are focusing on developing scalable sensor solutions that cater to the unique requirements of these light commercial vehicles, including integration capabilities and cost-effectiveness.

Vehicle Type Insights

The BEV segment accounted for a significant market revenue share in 2023. The segment is experiencing rapid growth within the battery sensor market, driven by increasing global adoption of fully electric vehicles. BEVs rely heavily on advanced battery sensors to optimize performance, monitor health metrics, and ensure safety. As consumers and governments prioritize zero-emission transportation solutions, the demand for precise and reliable battery monitoring systems is escalating, thereby contributing to the BEV segment’s growth.

The HEV segment is expected to register significant growth from 2024 to 2030. The growing popularity of vehicles combining internal combustion engines with electric propulsion is driving the demand for battery sensors in HEV vehicles. HEVs require sophisticated battery sensors to efficiently manage energy flows between the engine, battery, and electric motor. As automotive manufacturers continue to enhance hybrid technology for improved fuel efficiency and reduced emissions, the demand for advanced battery sensors that can optimize hybrid system performance is increasing.

Regional Insights

North America battery sensor market is poised for significant growth from 2024 to 2030. The North America battery sensor market is expanding due to increasing investments in electric vehicle (EV) infrastructure and stringent emission regulations. With the U.S. and Canada at the forefront, the region sees rising demand for advanced battery sensors to support EV adoption.

U.S. Battery Sensor Market Trends

Battery sensor market in the U.S. is anticipated to register significant growth from 2024 to 2030. The market is growing amidst rapid EV adoption and supportive federal policies incentivizing clean energy initiatives. With growing technological advancements in battery sensors, the U.S. is poised for significant growth over the forecast period.

Europe Battery Sensor Market Trends

Battery sensor market in Europeis poised for significant growth from 2024 to 2030. The market is witnessing substantial growth propelled by ambitious CO2 reduction targets. Countries such as Germany, France, and Norway lead in EV adoption, creating a strong demand for high-performance battery sensors in the region.

Asia Pacific Battery Sensor Market Trends

Battery sensor market in APAC dominated the global market and accounted for 45.4% in 2023. The regional market is experiencing rapid expansion driven by the region's dominance in electric vehicle production and increasing investments in sustainable mobility solutions. Manufacturers in the region are focusing on developing cost-effective and reliable battery sensor technologies to cater to diverse market needs and capitalize on the accelerating shift toward electric mobility.

Key Battery Sensor Company Insights

The battery sensor market is characterized by a few key players striving to innovate and capture market share. Major companies are focusing on developing and launching advanced sensor technologies in order to enhance their product portfolio offerings.

One such example is the launch of new sensors by Continental AG to protect the battery of electrified vehicles. In May 2022, Continental AG announced the launch of its two new sensors for electrified vehicles, namely the Battery Impact Detection (BID) system and the Current Sensor Module (CSM). Both of these solutions are aimed at focusing on protecting the battery and/or battery parameter retention. Such initiatives are harnessing innovation in the battery sensor market.

Battery Sensor Market Report Scope

Global Battery Sensor Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global battery sensor market report based on voltage, communication, vehicle category, vehicle type, and region.

• Voltage Outlook (Revenue, USD Million, 2018 - 2030)

  • 12V

  • 24V

  • 48V

• Communication Outlook (Revenue, USD Million, 2018 - 2030)

  • Local Interconnect Network (LIN)

  • Controller Area Network (CAN)

• Vehicle Category Outlook (Revenue, USD Million, 2018 - 2030)

  • Passenger Car

  • Light Commercial Vehicle

  • Heavy Commercial Vehicle

• Vehicle Type Outlook (Revenue, USD Million, 2018 - 2030)

  • BEV

  • HEV

  • PHEV

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)

    • UAE

    • Kingdom of Saudi Arabia (KSA)

    • South Africa