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The global battery management system market reached a value of US$ 5.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 19% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
The battery management system (BMS) refers to an electronic regulator that monitors the usage and performance of the battery. It ensures that the battery does not operate above maximum voltage and current levels and collects and analyzes operational data from individual cells in the battery pack. It is also used for protecting the battery pack from getting over-charged or discharged, calculating the amount of energy remaining in the battery and continuously checking for shorts, loose connections or breakdowns in wire insulation. As a result, BMS finds extensive applications across various industries, such as automotive, telecommunications, healthcare, consumer electronics, and renewable energy systems.
The significant increase in the demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) across the globe, due to growing environmental consciousness, is one of the key factors creating a positive outlook for the market. In line with this, widespread adoption of battery-operated vehicles in the public transport fleet is also stimulating the growth of the market. EVs, HEVs and electric bikes use BMS to manage lithium-ion batteries for higher energy densities and longer operational life than traditional batteries. This, in turn, is facilitating the demand for BMS in the automotive sector. Moreover, with the increasing installations and modernization of off-grid renewable energy generation plants, there is an escalating requirement for efficient BMS solutions for power flow measurement, controlled power production and distribution and monitoring information on electricity usage. Other factors, including the growing utilization of rechargeable batteries in consumer electronics, along with the development of innovative cloud-based battery management systems, are anticipated to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global battery management system market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, battery type, type, topology and application.
Breakup by Battery Type:
Breakup by Type:
Breakup by Topology:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Eberspaecher Vecture, Elithion Inc., Johnson Matthey, Leclanche, Lithium Balance, Navitas Systems LLC (East Penn Manufacturing Company), Nuvation Engineering, NXP Semiconductor N.V., Storage Battery Systems LLC and Valence Technology Inc. (Lithium Werks B.V.).
|Base Year of the Analysis||2020|
|Segment Coverage||Battery Type, Type, Topology, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Eberspaecher Vecture, Elithion Inc., Johnson Matthey, Leclanche, Lithium Balance, Navitas Systems LLC (East Penn Manufacturing Company), Nuvation Engineering, NXP Semiconductor N.V., Storage Battery Systems LLC and Valence Technology Inc. (Lithium Werks B.V.)|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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