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% during the forecast period. The base year used
for this study is 2015 and the forecast period is between 2016 and 2022.
The battery management system for lithium-ion–based
battery leads the battery management system market since
lithium-ion–based battery is popular in various application industries
owing to its high energy and power density, light weight, and low
standby losses. The high energy density lithium-ion battery requires
battery management systems for its efficient operation and management in
these applications. Moreover, the current price reduction of the li-ion
battery and its growing adoption in applications such as electric
vehicle, UPS, telecommunication, renewable energy system, and other
applications is expected to drive the market in the near future.
The battery management system market for modular
topology is expected to grow at a high CAGR during the forecast period.
Most of the manufactures prefer modular topology as it offers a good
computational power and is also safe as it does not require extensive
wire harnesses. The modular topology is also suitable for a range of
applications such as in energy storage systems, industrial UPS, medical
mobility vehicle, parts of electric vehicles, and drones among others.
The increasing demand for modular topology from these applications is
expected to drive the market at the highest rate during the forecast
period.
North America held the largest share of the battery
management system market in 2015, while the market in Asia-Pacific is
expected to grow at a high rate during the forecast period and lead the
BMS market by 2022. The high growth of the Asia-Pacific region is
attributed to the presence of a number of leading portable devices
manufacturers and the demand for battery management from countries such
as China and Japan owing to the increasing adoption of electric vehicles
in these countries.
One of the key restraining factors for companies
operating in this industry is the lack of standards for developing
battery management systems as most of the products available in the
market vary in terms of technical specifications, functions, and
applications. This makes difficult to compare the performance of two
battery management systems, which creates a demand for concrete
standards to be developed.
In the battery management system market, Johnson
Matthey Plc. (U.K.) is a major player which holds a leading position in
sustainable technologies as well as specialty chemical technology. The
company has a strong presence in the battery management system market
and offers battery management system with modular architecture, using
its own battery management electronics. The company’s BMS is designed
for application in electric vehicles as well as hybrid electric
vehicles.
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).
Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234498189
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234498189
About MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide
companies’ revenues. Currently servicing 7500 customers worldwide
including 80% of global Fortune 1000 companies as clients. Almost 75,000
top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our
850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global
high growth markets following the "Growth Engagement Model – GEM". The
GEM aims at proactive collaboration with the clients to identify new
opportunities, identify most important customers, write "Attack, avoid
and defend" strategies, identify sources of incremental revenues for
both the company and its competitors. MarketsandMarkets™ now coming up
with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high
growth emerging segments. MarketsandMarkets™ is determined to benefit
more than 10,000 companies this year for their revenue planning and help
them take their innovations/disruptions early to the market by
providing them research ahead of the curve.
MarketsandMarkets’s
flagship competitive intelligence and market research platform,
"Knowledgestore" connects over 200,000 markets and entire value chains
for deeper understanding of the unmet insights along with market sizing
and forecasts of niche markets.
Contact:Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment