The battery management system market was valued at
USD 1.98 Billion in 2015 and is expected to reach USD 7.25 Billion by
2022, at a CAGR of 20.5% between 2016 and 2022. The growth of this
market is propelled by the rapidly growing need for battery management
system given the increasing number of vehicles that require charging
such as electric vehicles (EVs), hybrid electric vehicles (HEVs), and
plug-in hybrid vehicles (PHV). These vehicles consist of
series-connected battery packs which require extensive monitoring.
Hence, battery management systems act as a crucial component in these
vehicles for supervising and guaranteeing reliable and safe battery
operations.
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Battery management systems are used in lithium-ion
batteries as they are high-power and high-capacity batteries. BMS is
used to protect and manage the lithium-ion battery pack and is also
integrated with lithium-ion–based batteries such as lithium polymer and
lithium iron-phosphate. These lithium-ion batteries are widely used in
applications in portable devices, electric vehicles, and renewable
energy systems among others. Moreover, the current price reduction of
the li-ion battery and the growing adoption of lithium-ion batteries in
various applications are expected to drive this market significantly.
This report provides a detailed analysis of the battery management
system market on the basis of battery types, components, topologies,
applications, and geography. The growing application of battery
management systems in electric vehicles and in renewable energy systems
are a major driver for the market. Additionally, one of significant
opportunities in the future for the battery management system is its
growing applications in battery-driven public transport and datacenters.
North America held the largest market share in 2015
North America is expected to hold the largest market
share and dominate the battery management system market owing to the
high demand for battery-powered electric vehicles, e-bikes, and
automated guided vehicles in the U.S. In addition to this, the
increasing number of projects in North America related to energy storage
through renewable energy storage systems is also expected to drive the
market. Asia-Pacific offers potential growth opportunities owing to the
increasing adoption of various applications that are driving the battery
management system market.
Major players in this market include Johnson Matthey
Plc. (U.K.), Lithium Balance A/S (Denmark), Nuvation Engineering (U.S.),
Valence Technology, Inc. (U.S.), Intersil Corporation (U.S.), Linear
Technology Corp (U.S.), NXP Semiconductors N.V. (Netherlands), Texas
Instruments Inc. (U.S.), Elithion, Inc. (U.S.), Vecture Inc. (Canada),
and Ventec SAS (France).
This research report categorizes the global battery
management system market on the basis of battery types, components,
topologies, applications, and geography. This report describes the
drivers, restraints, opportunities, and challenges for the growth of the
battery management system market. The Porter’s five forces analysis has
also been included in the report with a description of each of its
forces and its respective impact on the position sensor market.
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