Report Brief
The report covers forecast and analysis for the battery management systems market on a global and regional level
The report includes the positive and the negative factors that are influencing the growth of the market
Detailed information about the market opportunities are discussed
The key target audience for the market has been determined in the report
The revenue generated by the prominent industry players has been analyzed in the report
The market numbers have been calculated using top-down and the bottom-up approaches
The battery management systems market has been analyzed using Porters Five Forces Analysis
The market is segmented on the basis of battery type, battery type, topology and application, which in turn bifurcated on regional level as well
All the segments have been evaluated based on the present and the future trends
The report deals with the in-depth quantitative and qualitative analyses of the battery management systems market
The report includes the detailed company profiles of the prominent market players
Market Summary
Overview
Battery Management Systems are the brains behind battery packs. A battery management system (BMS) is an electronic controller that controls and monitors the charging and discharging of rechargeable batteries. They also provide notification of battery pack, and critical safeguards to protect the batteries from damage.
Value
The global battery management systems market was valued at around USD 2,200 million in the year 2016 and it is expected to reach approximately USD 10,500 million by 2024. The global battery management systems market is expected to grow at a CAGR of over 21.2% between 2017 and 2024.
Drivers and Restraints
The major factor driving the growth of battery management systems market is the rising demand for ups system. The UPS systems are used as an essential power backup device. The accelerating shift toward the Internet of Things (IoT), digitization, and Hardware computing is increasing the adoption of uninterruptible power supply (UPS) systems across different applications globally. The UPS systems use computers to smoothen their workflows. E-Commerce, servers, data centers, and medical electronic equipment need a high level of uninterrupted power supply and thus generating significant demand for a high power range of UPS systems in globally.
Moreover, increasing use of battery operated devices is also expected to propel the growth of battery management systems market globally.
However, lack of policies and infrastructure in developing economies for development of battery vehicles may affect the growth of battery management system market. The lack of domestic technical capabilities to develop and produce energy vehicle battery types is one of the most important obstacles in emerging regions.
Segmentation
Lithium-ionbased battery is mostly used battery type in the battery management systems. The lithium-ion batteries are widely used in applications in electric vehicles, portable devices, and renewable energy systems among others. The rising adoption of lithium-ion batteries in various applications and price reduction of Li-ion battery is expected to boost the growth of segment over the forecast period.
The battery management system consists of two battery types, hardware, and software. The hardware segment of global battery management system market includes battery control unit, power management IC, and communication channel. The hardware segment accounted major share in the global battery management system market by battery type. However, the rising adoption of the sophisticated softwares in battery management system is expected to drive the growth of softwares over the forecast period.
The centralized topology is dominating the battery management systems market in 2016. Centralized is a single controller is connected to the battery cells through a multitude of wires. Centralized battery management systems are least expandable, most economical, and are plagued by a multitude of wires. This has further cemented the dominance of centralized topology in battery management systems market.
The battery management system is widely used in automotive, military, medical, portable device, telecommunication, renewable energy system, and uninterrupted power supply (ups). Among them, the portable device accounted major share in the global battery management systems market by application. The rising use of battery management systems to maintain and control the battery used in portable devices such as power tools, consumer electronics etc. is expected to boost the growth of segment over the forecast period.
There is a rising demand in North America regarding energy storage through renewable energy storage systems is expected to drive the growth of battery management system market over the forecast period. Asia Pacific is expected to register high CAGR over the forecast period in the global battery management system market.
Industry Players
The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report is Ashwoods Electric Motors, Atmel Corporation, Elithion, Inc. AVL, Eberspcher, Ewert Energy Systems, Inc., Johnson Matthey, Linear Technology, Lithium Balance, Larsen Toubro Limited, Midtronics, Mastervolt, Merlin, Nuvation Engineering, NXP Semiconductors, Navitas System, LLC Corporate, Panasonic Corporation, Texas Instruments Incorporated., TOSHIBA CORPORATION, Valence Technology, Inc., and VENTEC, and much more.
The prominent market players maintain the competitive edge in the global market by making focusing on a new product launch. For instance, in 2013 the Midtronics has launched CELLTRON Advantage, a new portable battery analysis system.
