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Battery Management System Market By Battery Type (Lithium Ion, Advanced Lead-Acid, Others) By Type (Motive Battery, Stationary Battery) By Topology (Centralized, Modular, Distributed) By Applicationss (Automotive, Military, Telecommunications, Renewable Energy Systems, UPS (Uninterrupted, Power Supply), Others) - Growth, Size and Forecast 2016 - 2028

How is the demand for battery management systems fueled by increased e-bike sales?

The success of battery management systems in the automotive sector is primarily due to the rising demand for electric vehicles in China and other APEJ nations. Furthermore, the strong demand for four-wheeler vehicles driven by lithium-ion batteries boosted the market's commercial potential. Like China, it is anticipated that demand for electric cars would rise in India throughout the projected period, supporting the sales of battery management systems in the APEJ region. Additionally, battery management systems find extensive use in the developing electric vehicle market (passenger cars, commercial vehicles, golf carts, and e-bikes) in nations like China, South Korea, and India, supporting the market's expansion over the following years.

battery-management-system-market

What is the Market Size of Battery Management systems in terms of value?

Global Battery Management System Market is projected to increase at a significant CAGR of 18.70% in the coming years. In 2021, the global Battery Management System market was valued at USD 7419.7 Million and was projected to reach a value of USD 20753.467 million by 2028. The demand for Battery Management systems is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 13333.7670 million during the forecast period between 2022 and 2028.

How do technological developments support the adoption of a Battery Management System?

New technologies, like those used in battery charging stations for electric vehicles, are increasingly in demand. In turn, this has increased the need for battery management systems, which come with various characteristics, including the capacity to track and balance the charge of individual battery cells and the ability to identify particular cell faults, among others. The leading causes of the rising demand for BMS include benefits, including boosted corporate productivity, decreased complexity, and higher dependability. The need for battery management systems is anticipated to increase with the integration of technologies like machine learning, artificial intelligence (A.I.), the Internet of Things (IoT), and others.

Interesting Facts about Battery Management System Industry

  • Several nations worldwide are concentrating on developing and implementing electronic vehicles to reduce car pollution, and their governments are taking steps to outlaw fuel-based vehicles.
  • The top countries for battery management systems are the U.S., Canada, Mexico, China, Japan, India, and South Korea.
  • The primary drivers of the growth of the worldwide battery management system (BMS) market value are the increase in the deployment of battery management systems in electric vehicles (E.V.s) and the rising need for battery management in renewable energy systems. 
  • The Asia-Pacific dominated the worldwide Battery Management System market in 2021, and it is anticipated that this dominance will last throughout the forecast period in terms of value.
  • The growth of piece wars and shrinking profit margins brought on by more essential competitors in the industry are projected to pose a significant challenge to the worldwide battery management system market.

In terms of value, who are the top 10 participants in the Battery Management System market?

The key players in battery management systems include Lithium Balance (Denmark), Leclanche (Switzerland), Nuvation Engineering (U.S.), Storage Battery Systems (U.S.), Eberspaecher Venture (Canada), and Johnson Matthey (U.K.). In October 2021, a new "intelligent" battery management system (BMS) from Brill Power was released, and it increased the battery life by 60%. Systems may operate longer because of the BrillMS B62 Premium battery management system's ability to increase storage capacity by up to 129 percent. Both passive and active balancing options can be supported by it. In January 2021, Texas Instruments, Inc. announced its Wireless Battery Management System for Electric Vehicles. The new battery management system (BMS) reduces weight and eliminates cabling by enabling wireless control and monitoring of improved cells.

Who are the top ten producers of Battery Management systems?

The top countries for Battery Management Systems are the U.S, Canada, Mexico, Germany, China, Japan, India, and South Korea. The U.S. holds a 20–25 percent market share, making it the leading nation in the worldwide battery management system (BMS) industry. The U.S. battery management system market is anticipated to develop due to the high per capita income and strict restrictions to limit carbon emissions. It is expected that the market would benefit from rising E-bikes sales in the United States. In Germany, small and medium-sized enterprises are anticipated to embrace electric vehicle (E.V.), plug-in hybrid (PHEV), and hybrid electric vehicle (HEV) technologies at a rapid rate. Germany's auto industry is a cutting-edge sector with the most efficient methods for making cars that use water and energy best. Therefore, it is anticipated that the German market will continue to provide enticing development prospects.

What is the primary application of the Battery Management System?

Depending on the type and design of the vehicle, installing a battery management system might result in increased production costs in the automobile industry. Additionally, a suitable cooling system is necessary for the components of the battery management system to operate without interruption. A battery management system (BMS) also needs several ports to interface with all battery packages, as all batteries are to be directly connected to the BMS. Because of this, using a battery management system can significantly increase the overall cost of a product or application, reducing demand from price-conscious consumers. This high cost may deter manufacturers from using battery management systems despite their apparent advantages. 

Technology improvements in electric and hybrid cars result from growing consumer demand to reduce fuel costs and increase vehicle economy. OEMs of electric cars and motorcycles are including BMS systems to improve battery storage capacity usage and prevent dangerous situations brought on by battery overheating.

What are the Market's Primary Motives for Battery Management systems?

The worldwide battery management system market share is projected to be driven by the expansion of the automotive industry due to the rising sales of electronic vehicles. Additionally, the invention and development of electronic cars are influenced by the growing environmental concerns and the decline in the use of fossil fuels. The widespread use of battery management systems in lithium-ion batteries used in electric cars, the growth in safety issues with lithium-ion batteries, and their applicability in electronic vehicles are all factors. 

A rise in the use of electric vehicles During this time, the industry anticipates developing sophisticated car battery management systems. The market's expansion is due to the growing trend of electric cars and the corresponding rise in battery demand. The battery management system aids the successful administration of the electric grid. The mechanism aids in shielding or guarding against harm to the battery. 

 What are the main obstacles to the market for Battery Management systems?

Battery management systems may result in an increased cost for the finished product, which reduces demand from consumers that are price conscious. Furthermore, despite the numerous advantages of batteries that have been amply proved, it may deter product manufacturers from implementing battery management systems.

The worldwide battery management system (BMS) market is projected to be constrained by a shortage of skilled workers who cannot deploy battery management systems in some emerging nations. In addition, encouraging the production of Hybrid vehicles is anticipated to increase investment from public and private investors, which might ultimately present a challenge for the BMS.

Which Battery Management System battery type is the most popular?

The market is divided into lithium-ion, advanced lead-acid, and other battery types. Over the projection period, the advanced lead-acid sub-segment is anticipated to grow at a considerably higher CAGR. However, the lithium-ion sub-segment will account for most of the market share during the forecast period.   

Due to its excellent efficiency and high energy density, lithium-ion batteries are frequently used in electric and mobile cars. Small mobility vehicles (golf carts, electric motorbikes, and other similar vehicles), trucks and buses, stationary batteries for household energy management systems (HEMS), and industrial machines are just a few of the uses for these batteries.

Which Region Ruled the Global Battery Management System Market?

Due to the surge in electronic vehicle sales in emerging nations like China and Japan, Asia-Pacific dominates the market for battery management systems. The expansion of the worldwide BMS market is projected to be aided by the rising demand for battery management systems revenue to minimize greenhouse gas emissions and the disputed government policy.

The market will also be more significant in the Asia-Pacific area. Due to the presence of several car factories in these places. Europe and the United States are two such nations. The number of renewable energy installations is increasing in the residential sector. California has the most battery energy storage installations in North America.

Segmentation of Global Battery Management System Market-

Global Battery Management System Market – By Battery Type

  • Lithium Ion
  • Advanced Lead-Acid
  • Others

Global Battery Management System Market – By Type

  • Motive Battery
  • Stationary Battery 

Global Battery Management System Market – By Topology

  • Centralized
  • Modular
  • Distributed

 Global Battery Management System Market – By Applicationss

  • Automotive
  • Military
  • Telecommunications
  • Renewable Energy Systems
  • UPS (Uninterrupted Power Supply)
  • Others

Frequently asked questions about the global Battery Management System industry

Government-imposed lockdown has impacted the market for battery management systems since manufacturers worldwide have suspended production and because there is a shortage of trained personnel due to social distancing regulations. Additionally, the market for battery management systems has been considerably impacted by the supply chain disruption brought on by COVID-19.

The market is being driven by the move toward electric vehicles, which also drives up demand for batteries.

A. Eberspächer, Elithion Inc., Leclanche, Lithium Balance, Nuvation Energy, NXP Semiconductors, Navitas System LLC, Renesas Electronics Corporation, Storage Battery Systems, LLC, and Texas Instruments Incorporated are among the companies that offer services to the battery management sector.

The primary industries that require battery management systems include automotive, telecommunications, the military, renewable energy systems, and UPS.

Battery Management System Market Scope

Report Attribute Details
Market Value in 2021 USD 7419.7 Million
Market Value in 2028 USD 20753.467 million
CAGR 18.70%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Published Date:  Jul 2022
Category:  Energy
Report ID:   60590
Report Format:   PDF
Pages:   190
Rating:    4.7 (70)
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