Global Battery Management System Market, By Components (Hardware, Software), Type (Stationary Battery, Motive Battery), Topology (Centralized, Modular, Distributed), Battery Type (Lithium-Ion Battery, Lead-acid-based, Flow Batteries, Advanced Lead-Acid Battery, Others), Application (Automotive, Uninterrupted Power Supply, Telecommunications, Renewable Energy Systems, Military, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa)- Industry Trends and Forecast to 2029
Market Analysis and Insights of Battery Management System Market
Battery management system market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the battery management system market to exhibit a CAGR of 19.25% for the forecast period of 2022 to 2029.
Battery management systems (BMS) are electronic systems that can protect rechargeable batteries (cells or battery packs) from operating outside of their safe operating area, monitor their area, calculate a set of secondary data, control their environment data, and authenticate and balance the latter.
The rising demand for battery-operated vehicles and growing demand for effective electric grid management will emerge as the major factor driving market growth. Rising popularity of electric vehicles, rising prevalence for battery monitoring in renewable energy system and growing demand for energy storage systems is estimated to boost the overall growth of the market for the forecast period of 2022 to 2029. Furthermore, increasing government initiatives to enhance the usage of electric vehicles will further aggravate the market value for the forecast period of 2022 to 2029. The dearth of standardized regulations for battery management system is expected to bolster the market’s growth for the forecast period of 2022 to 2029. On the other hand, the complexity associated with the typical structure of battery management system act as a restraint for the market.
In addition to this, the rise in the investment from the major key players in the region to provide electric scooters for shorter distances are estimated to create new opportunities for growing the market within the forecast period. However, the lack of proper infrastructure for EV result as a challenge for the market for the forecast period of 2022 to 2029.
This battery management system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on battery management system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Battery Management System Market Scope and Market Size
The battery management system market is segmented on the basis of component, type, topology, battery type, and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the battery management system market is divided into hardware and software. Hardware is further divided into battery control unit, power management component and communication channel.
- The type segment of the battery management system market is divided into stationary battery and motive battery.
- On the basis of topology, the battery management system market is segmented into centralised, modular and distributed.
- On the basis of battery type, the battery management system market is segmented into lithium-ion battery, lead-acid-based, flow batteries, advanced lead-acid battery and others such as solid state battery, and nickel based batteries.
- Application segment of the battery management system market is divided into automotive, uninterrupted power supply, telecommunications, renewable energy systems, military and others. Automotive is sub-segmented into automotive electric vehicles, e-bikes and automated guided vehicles.
Battery Management System Market Country Level Analysis
The battery management system market is analyzed and market size, volume information is provided by component, type, topology, battery type, and application as referenced above.
The countries covered in the battery management system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region dominates the battery management system market due to rising penetration of EVs coupled with favorable government policies and the implementation of several supportive government monetary policies for developing HEVs coupled with rising automotive sales in the region for the forecast period of 2022 to 2029. Asia-Pacific region is projected to undergo substantial during the forecast period owing to the presence of various automotive manufacturers in the region which will enhance the market growth within the region.
The country section of the battery management system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Battery Management System Market Share Analysis
The battery management system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to battery management system market.
Some of the major players operating in the battery management system market report are Leclanché SA, Sensata Technologies, Inc, Eberspächer, Renesas Electronics Corporation., Johnson Matthey, Elithion, Inc., BMS PowerSafe, Navitas System, LLC Corporate., Nidec Motor Corporation, Epec, LLC., ANSYS, Inc., SEDEMAC., AVID Technology Limited, Analog Devices, Inc., and Texas Instruments Incorporated, among others.
Recent Developments
- In October 2021, Brill Power has announced the release of a new 'intelligent' battery management system (BMS) that can extend battery life by up to 60%. The BrillMS B62 Premium battery management system can boost storage capacity by up to 129 percent, allowing systems to run longer. It has the ability to support both passive and active balancing options.
- In January 2021, Wireless Battery Management System for Electric Vehicles has been released by Texas Instruments, Inc. The new battery management system (BMS) allows for wireless control and monitoring of better cells, resulting in weight savings and the elimination of cabling.
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