According to the new market research report by IMARC Group “Battery Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026.”
The global battery management system market reached US$ 5.3 Billion in 2020. The battery management system (BMS) refers to an electronic regulator that controls and monitors the usage and performance of the battery pack or a cell. It is used for protecting the battery pack from getting over-charged or discharged, while 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 applications across diversified industries, such as automotive, telecommunications, and healthcare.
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Industry Trends and Drivers:
The rising demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) represents one of the key factors driving the market growth. In line with this, the increasing environmental consciousness and the widespread utilization of battery-operated vehicles in the transportation sector, along with the shifting preference for e-bikes and e-scooters for daily commutation are contributing to the market growth. The increasing usage of rechargeable batteries in consumer electronics products is acting as another major growth-inducing factor. Other factors, such as rapid adoption of cloud-connected battery management systems and the modernization of off-grid renewable energy generation plants, are creating a positive outlook for the market further across the globe. Looking forward, the market is expected to reach US$ 15.4 Billion by 2026, growing at a CAGR of 19% during 2021-2026.
On the basis of type, global Battery Management System Market can be segmented as:-
On the basis of Battery, the market includes:
- Lithium-Ion Based
- Lead-Acid Based
- Nickel Based
On the basis of Type, the market includes:
- Motive Battery
- Stationary Battery
On the basis of Topology, the market includes:
On the basis of Application, the market includes:
- Electric Vehicles
- Golf Carts
- Military and Defense
- Consumer Electronics
- Renewable Energy Systems
Top Market Players in the Industry:
- Eberspaecher Vecture
- Elithion Inc.
- Johnson Matthey
- Lithium Balance
- Navitas Systems LLC (East Penn Manufacturing Company)
- Nuvation Engineering
- NXP Semiconductor N.V.
- Storage Battery Systems LLC
- Valence Technology Inc.
- Lithium Werks B.V.
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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