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2020
Battery Management System Market

Battery Management System Market by Battery Type (Lithium-Ion Based, Lead-Acid Based, Nickel-Based, and Others), Topology (Centralized, Distributed, and Modular), and Application (Automotive, Telecommunication, Consumer Electronics, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
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A06637
Pages: 323
Jul 2020 | 7043 Views
Author(s) : Anvay Sonpimple, Lalit Katare
Tables: 107
Charts: 65
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COVID-19

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Battery Management System Market Statistics 2020-2027:  

The global battery management system market size was valued at $5.81 billion in 2019, and is projected to reach $24.83 billion by 2027, registering a CAGR of 20.2% from 2020 to 2027. Asia-Pacific accounted for the highest share in the global battery management system market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the forecast period. 

A battery management system can be defined as the brain behind battery packs. It is an electronic system that controls and monitors charging and discharging of battery and provides notifications about the status and condition of battery packs. In addition, providing critical safeguard to protect batteries from damage is one of the primary functions of battery management system. Design of lithium-ion battery has two critical design issues. First issue is that they can be damaged if overcharged and result into overheating, flames, or others. In addition, lithium ion battery can also be damaged if discharged below certain threshold, which is around 5% of the total capacity. If the batteries are allowed to discharge below this level, the battery might get damaged permanently.

Battery-Management-System-Market-2020-2027

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COVID Impact Analysis: The rapid spread of COVID-19 has left the complete supply chain with unpredictable challenges and issues such as OEM shutdowns, insufficient labor, output reduction, and raw material, which in turn has affected the battery management system market. In addition, various suppliers operating in the supply chain are witnessing raw material shortage which in turn is impacting the market and there is a continuously growing risk of raw material shortage if the situation continues.

Factors such as rise in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), and surge in industry preference for use of lithium-ion batteries drives growth of the battery management system market. In addition, growth in adoption of rechargeable batteries across multiple end-use industries propels the market growth. However, rise in overall price of products with addition of battery management system hinders growth of the market. Further, increase in adoption of cloud-connected battery management systems, growth in demand for renewable energy, and rise in demand for e-bikes and e-scooters provide remarkable growth opportunities for players operating in the market.

The global battery management system market is segmented into mode of battery type, topology, application, and region. On the basis of battery type, the market is categorized into lithium-ion based, lead-acid based, nickel-based, and others. By topology, it is segregated into centralized, distributed, and modular. Depending on application, it is fragmented into automotive, telecommunication, consumer electronics, industrial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players profiled in the battery management system market report include Eberspächer, Elithion Inc., Leclanche, LiTHIUM BALANCE, Nuvation Energy, NXP Semiconductors, Navitas System LLC, Renesas Electronics Corporation, Storage Battery Systems, LLC, Texas Instruments Incorporated, and others.

Increase in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs)

Governments across the globe have implemented stringent regulations and policies, such as Kyoto protocol, to reduce Greenhouse Gas (GHG) emissions. In addition, rise in awareness regarding harmful effects of petrol and diesel-fuelled vehicles on the environment has led to innovations in the automotive industry in the form of electric and hybrid vehicles. Moreover, growth in consumer demand to maximize vehicle efficiency and minimize fuel costs have led to consistent technological advancements in electric and hybrid electric vehicles. The need to optimize utilization of battery storage capacity in electric vehicles and to prevent dangers caused by overheating of battery in electric and hybrid electric vehicles, manufacturers have started to integrate battery management systems in vehicles. Batteries in electric vehicles can be used only in specified conditions, therefore, battery management system (BMS) is necessary to monitor battery state and ensure safety of operations. Battery management system monitors vital operating parameters of batteries such as cell/unit voltage and current; resistance; cell/unit/ambient temperature; electrolyte levels; and more to ensure proper running and health of batteries.  In addition, increase in costs of fuel, coupled with stringent governmental regulations pertaining to carbon dioxide emissions are pushing the adoption of electric vehicles, hybrid electric vehicles, and plug-in hybrid vehicles in developed regions such as North America, Europe, and Japan. For instance, the U.S. American Recovery and Reinvestment Act grants funds to private and government entities to develop hybrid electric vehicles. Moreover, the public transportation sector is also undergoing technological transformations. Rise in air pollution caused by internal combustion engine cars and non-renewable nature of oil-based fuels has incited public bodies to encourage use of hybrid and electric vehicles. Thus, increase in adoption of electric vehicles and hybrid electric vehicles is anticipated to boost growth of the battery management system market in the future.

Battery Management System Market
By Battery type

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Lead-acid based segment is projected as the most lucrative segments

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Growing adoption of rechargeable batteries across multiple end-use industries

Governments of both developed and developing countries have implemented stringent regulations and policies to reduce carbon dioxide emissions. To maintain compliance with these regulations, end-use industries are switching from traditional fossil fuels to batteries and renewable energy sources. Industries such as automotive, telecom, and consumer electronics use rechargeable batteries extensively. The last few years have witnessed increase in adoption of electronic gadgets such as garden tools, power tools, portable battery packs, and portable medical tools across countries in emerging markets such as Asia.  Moreover, to effectively control several functions critical to safe and proper operation of batteries, battery management system monitors batteries against functions such as voltage and current, temperature, battery performance, and maintenance scheduling to check whether the battery is overcharged or undercharged. In addition, battery management system also monitors conditions of individual cells in a battery pack. Further, rechargeable batteries also find wide application in industrial products such as vacuum pumps and power tools and a rapid increase in these products boosts the battery management system market.

Battery Management System Market
By Topology

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Centralized segment is projected as the most lucrative segments

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Increase in overall price of products with addition of battery management system

In the automotive sector, installation of battery management system in vehicles face burden of additional manufacturing costs, according to vehicle type and design. In addition, it requires proper cooling system for smooth functioning of battery management system components. Moreover, as all batteries should be connected to the battery management system (BMS) directly, a battery management system needs a lot of ports to connect with all battery packages. Therefore, use of battery management system can lead to a notable rise in the final cost of a product or application, which may result in reduced demand from cost-sensitive consumers, owing to its high cost, discouraging product manufacturers from using battery management systems despite their proven benefits. Thus, end users who are cost sensitive avoid paying additional amount, which discourages product makers in taking risks to fulfill the demands of manufacturers, in terms of technological innovations and capital investments and, in turn, hinder the growth of the battery management system market.

Battery Management System Market
By Application

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Consumer electronics segment is projected as the most lucrative segments

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Growing demand for renewable energy

Rise in global warming and pollution level across the globe has led to increase in demand for renewable energy. Owing to various subsidies and incentives from governments toward adoption of renewable energy, demand for solar energy as a renewable energy source is on the rise. According to the International Energy Agency (IEA), presently renewable energy sources make almost 26% share of the world’s electricity demand and the share is expected to reach around 30% by 2024. All the renewable energy sources require lead–acid or li-ion battery-equipped systems for energy storage. Further, battery management systems are required for energy storage systems to properly monitor and control all operations. Therefore, rise in demand for renewable energy creates opportunities for growth of the battery management system market. 

Battery Management System Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

LAMEA region segment is projected as the most lucrative segments

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the global battery management system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.
  • The current battery management system market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers in the battery management system industry.

Key Market Segments

By Battery Type

  • Lithium-Ion based
  • Lead-Acid based
  • Nickel-based
  • Others

By Topology

  • Centralized
  • Distributed
  • Modular

By Application

  • Automotive
  • Telecommunication
  • Consumer electronics
  • Industrial
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • Eberspächer
  • Elithion Inc
  • Leclanche
  • LiTHIUM BALANCE
  • Nuvation Energy
  • NXP Semiconductors
  • Navitas System LLC
  • Renesas Electronics Corporation
  • Storage Battery Systems, LLC
  • Texas Instruments Incorporated

Key Market Segments

  • By Battery Type
    • Lithium-Ion based
    • Lead-Acid based
    • Nickel-based
    • Others
  • By Topology
    • Centralized
    • Distributed
    • Modular
  • By Application
    • Automotive
    • Telecommunication
    • Consumer electronics
    • Industrial
    • Others
  • By Region
    • NORTH AMERICA
      • U.S
      • Canada
      • Mexico
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa


Key Market Players

  • Eberspächer
  • Elithion Inc.
  • Leclanche
  • LiTHIUM BALANCE
  • Nuvation Energy
  • NXP Semiconductors
  • Navitas System LLC
  • Renesas Electronics Corporation
  • Storage Battery Systems, LLC
  • Texas Instruments Incorporated
 

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According to insights of CXOs of leading companies, the global battery management system market is expected to grow at a remarkable rate in the future, owing to increase in adoption of rechargeable batteries across various industries.

Factors such as rise in industry preference for use of lithium-ion batteries, growth in adoption of rechargeable batteries across multiple end-use industries, and rise in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs) drive growth of the battery management system market. However, high cost associated with battery management systems hinders the market growth. Further, growth in demand for renewable energy, rise in use of e-bikes, e-scooters, and surge in adoption of cloud-connected battery management systems provide remarkable opportunities for players operating in the battery management system market.

Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the global market during the forecast period, followed by Europe, North America, and LAMEA. Moreover, LAMEA is expected to witness the highest growth rate, owing to rise in adoption of electric vehicles. 
 

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FREQUENTLY ASKED QUESTIONS?

A. Imposed lockdown by the governments has affected the battery management system market as manufacturing companies across the globe has stopped the manufacturing process, and due to unavailability of skilled labor owing to social distancing regulation. In addition, disruption in the supply chain due to COVID-19 has significantly affected the battery management system market.

A. Based on battery type, lithium-based, lead-acid based, nickel-based, and others has the market share of 58.4%, 10.8%, 24.2%, and 6.7% respectively.

A. The sample for battery management system market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. Eberspächer, Elithion Inc., Leclanche, LiTHIUM BALANCE, Nuvation Energy, NXP Semiconductors, Navitas System LLC, Renesas Electronics Corporation, Storage Battery Systems, LLC, Texas Instruments Incorporated, and others are the leading players operating in the battery management system market

A. The company profiles of the top market players of battery management system market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry as well as their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

A. LAMEA is anticipated to provide signnificant business opportunities for the players operating in the battery management system market.

A. The service provider of the battery management industry includes Eberspächer, Elithion Inc., Leclanche, LiTHIUM BALANCE, Nuvation Energy, NXP Semiconductors, Navitas System LLC, Renesas Electronics Corporation, Storage Battery Systems, LLC, Texas Instruments Incorporated.

A. Product development, agreement, product launch, and others are the key growth strategies of battery management industry players.

A. Joint venture, product launch, product development, and others are the new competitive development adopted by the players operating in the battery management system market.

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