Electric Bus Lithium-Ion Battery Management System Market Outlook – 2027
Electric buses havehada strong place in the transportation industry since the 1830s when the first steam bus was introduced in London. However, in the year 1890, U.S. introduced the first electric bus which gained a considerable amount of consumer popularity & acceptance owing to the amount of carbon emissions generated by the bus powered by an internal combustion engine (ICE). Furthermore, a lithium-ion battery (LIB) is a type of rechargeable battery, which is popularly used in the field of electric bus due to the high energy concentration, long cycle life and zero carbon emission. Thereby, guaranteeing the safety and extended service life for the electric bus. Therefore, the safety & security provided by the battery management system is expected to drive the market growth for the global electric bus lithium-ion battery management system market in the near future.
COVID-19 scenario analysis:
- The pandemic has observed a negative impact on the battery management system market size for the year 2020, an estimated of 2-3% of deviation is noticed in the growth of electric bus lithium-ion battery management system manufacturers mainly due to coronavirus.
- Automotive industries are facing adverse effects due to the lockdown, which has resulted in closure of the factories thereby a devastating decline in the demand is observed due to the disruption of all operations for the electricbus lithium-ion battery management system manufacturers.
- Electric bus lithium-ion battery management system market is an evolving industry, which is majorly hampered due to coronavirus; all production and installation process across the affected countries had been shut down & disrupted owing to the government declared lockdown.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Growth in trend of electric vehicles, need for effective electric grid management, and increase in vehicle distance range for electric buses aredriving the growth of the global market. However, lack of standardized regulations for developing lithium-ion battery management systems and high manufacturing & maintenance cost are expected to hamper the growth of the market. Contrarily, increase in adoption of battery-operated public transport, government initiatives encouraging the use of electric vehicles and setting up of e-charging stations creates a favourable condition for the adoption of electric vehicles, which are anticipated to provide lucrative opportunity for the market growth.
The electric bus lithium-ion battery management system market trends are as follows:
Increase in vehicle distance range for electric buses
Due to major developments in the electrification of public transportation segments, a tremendous enhancement is experienced in the vehicle travelling distance which has increased the range of the public transport on a single charge. For instance, Ebusco has developed an electric bus for Germany’s public transportation which can travel a distance up to 500 km in a single charge without a requirement for further charging. Furthermore, developed countries such as Germany, U.K. and U.S. are offering electric fast charging designed for the buses at the stations for added convenience. Rapid expansion of electric bus charging infrastructure, battery technology enhancements and rise in vehicle emission norms & the subsidies provided by the government drive the adoption of electric buses worldwide. Therefore, the increase in vehicle distance range for the electric busesis anticipated to boost the market growth for the electric bus lithium-ion battery management system.
Key benefits of the report:
- This study presents the analytical depiction of the electric bus lithium-ion battery management system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the electric bus lithium-ion battery management system market.
- The current market is quantitatively analyzed to highlight the electric bus lithium-ion battery management system market growth scenario.
- We can also determine lithium-ion battery management system will remain a significant revenue shareholder in the global electric bus lithium-ion battery management system market through the predictable future.
Questions answered in the global electric bus lithium-ion battery management system market research report:
- Which are the leading market players active in electric bus lithium-ion battery management system market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Electric Bus Lithium-Ion Battery Management System Market Report Highlights
By Battery Type
Key Market Players
Hitachi Chemical, BYD Company Ltd., Ecobalt Solutions, A123 Systems Llc, Toshiba Corp, Samsung SDI, Tesla Inc., GS Yuasa Corp, Panasonic Corp, LG Chem Ltd.