6 November 2019 - Global Battery
Management System (BMS) Market is
anticipated to expand at a significant CAGR of 11.6% in the upcoming period as
the scope, product types, and its applications are increasing across the globe.
A battery management system is an electronic system that manages a rechargeable
battery, such as by monitoring its state, by protecting the battery from
operating outside its safe operating area, calculating secondary data,
controlling its environment, authenticating it, and/or balancing it and
reporting that data.
The
factors that propel the growth of the market include increasing combination of
battery management systems in consumer renewable and electronics energy systems
among the other applications, growing adoption of electric vehicles (EVs),
increasing use of renewable energy storage systems, increasing integration of BMS
in consumer electronics, and hybrid electric vehicles PHEVs, and (HEVs). On the
other hand, a factor may hamper the growth of the market including the lack of
standards for developing battery management systems.
The
market could be explored by type, component, topology, application, and
geography. Market could be explored by type as Flow batteries, Nickel based,
Lithium-ion based, and Lead-acid based. The “Lithium-ion based” segment led the
battery management system market in 2016 and will continue to lead in the
forecast period. The key factors that may be attributed to the growth of the
market includes lightweight, & low standby losses and high energy and power
density.
The
market could be explored by component as Hardware (Power Management IC, Battery
Control Unit, CAN Bus, and Communication Channel), and Software. Based on
topology, the market could span Modular, Centralized and Distributed. The
“Modular” segment led the battery management system market in 2016 and will
continue to lead in the forecast period. The key factor that could be
attributed to the growth of the market includes rising demand for modular
topology from various applications.
The
key applications that could be explored in the market include Energy,
Automotive, Defense, and Consumer electronics. The “Automotive” segment led the
market in 2016 and will continue to lead in the forecast period. The key
factors that may be attributed to the growth of market includes an increasing
number of vehicles requiring rechargeable batteries including hybrid electric
vehicles, EVs, and plug-in hybrid vehicles and increasing environmental
concerns.
Asia-Pacific
accounted for the major share of the battery management system (BMS) market in
2017 and will continue to lead in the forecast period. The factors that could
be attributed to the growth include increasing acceptance of electric vehicles
in these countries and demand for battery management from countries such as
Japan and China. Asia-Pacific is followed by the North American region.
Some
of the key players that fuel the growth of the battery management system (BMS)
market comprise Novation, Vantec S.A.S., Tw’s, Ashwood’s Energy Limited,
Vesture Inc., Lithium Balance, LARSEN & TOUBRO LIMITED, Toshiba America,
Inc., AVL, Merlin Equipment Ltd., Navitas System, Johnson Matthey and LLC
Corporate. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
Market Segment:
Report contents include
•
Analysis of the battery management system market including revenues, future
growth, market outlook
•
Historical data and forecast
•
Regional analysis including growth estimates
•
Analyzes the end user markets including growth estimates.
•
Profiles on battery management system including products, sales/revenues, and
market position
•
Market structure, market drivers and restraints.
Key regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
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