Battery Management System Market Research Insights with Upcoming Trends Segmentation, Opportunities & Forecast to 2030

CHICAGO, UNITED STATES, February 27, 2023 /EINPresswire.com/ — The global battery management system market is estimated to witness a CAGR of more than 20.2% during the forecast period 2023-2030.

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The battery management system is a multicell battery, which manages and observes the string’s health and charge. Under various climatic and charge-discharge situations, the system is in charge of ensuring safe operation, performance, and battery life. The procedure entails gathering information and sharing it with the components that maintain or regulate its surroundings.

Factors Leading the Growth of the Global Market

Rising Demand for E-Vehicles

The adoption of electric vehicles is rising as environmental protection becomes a bigger priority. Automakers are prioritizing R&D efforts to enhance the performance of electric vehicles. Due to their higher flexibility, lower cost, and less complexity, wireless Electric Vehicle battery management systems are increasingly preferred over traditional battery management systems, according to recent developments in the field.
Additionally, the battery management system for electric vehicles is crucial in providing precise tracking of each task carried out by the battery. As a result, the market size for battery management systems worldwide is growing due to the increase in EV adoption. The U.S. Energy Information Administration estimates that by 2022, there will be a sharp increase in the demand for electric vehicles in the United States, where they will make up 3.4% of all light-duty vehicle sales.

Favorable Government Rules

Across the world, governments are working to achieve their climate change objectives and creating laws to switch their primary energy source to renewable sources. For example, the European Union has the Horizon Europe funding program, EU Hydrogen Strategy, and the European Green Deal. The Nationally Determined Contribution (or “NDC”) and the CARES Act 2020 plan that the United States submitted to the UNFCCC contain elements that describe the working towards net-zero emissions within a predetermined time frame. Thus, the market for battery management systems will grow as a result of policies that support renewable energy and subsidies for various renewable energy tools and technologies.

Increased Renewable Energy

Globally, there has been a quick and significant rise in the demand for and usage of renewable energy in accordance with the Montreal, Kyoto, and Paris Climate Agreement UN Protocols. As per Eurostat, 2% more than the target set in 2004, the gross energy consumption from renewable sources was 22% in 2020. As per the US Energy Information Administration, about 21% of the nation’s energy consumption came from renewable sources. Thus, the demand for energy and battery management systems to store and distribute energy would expand as the use of renewable energy sources increased.

Despite these advantages, the price of installing and keeping battery management systems at a large scale may influence the industry’s growth.

Segmentation Summary

By Battery Segment

In 2019, the lithium-ion segment maintained the leading position in the global battery management system industry. Due to their mobility and extended operational lives, lead-acid battery management systems are widely employed in transportation and consumer electronics applications. The segment is expanding as a result of rising consumer electronics demand.

There are disposal problems owing to the quick usage of Li-ion batteries in electric vehicles and other devices. Batteries that are disposed of improperly harm the environment. Automakers are being prompted by this to reexamine their usage and invest in the R&D of environmentally friendly battery options.

By Connectivity Segment

The distributed segment is likely to record the maximum growth rate during 2020-2025 due to the carefully managed energy flow inside and outside the EV’s battery pack. The rise in installed capacity and the production of electricity from renewable sources are two further factors driving the greater use of distributed BMS. BMSs are also very dependable and easy to install.

BMS is used to streamline daily operations in e-bikes, power tools, mobile battery packs, portable medical equipment, and home appliances. The second fastest-growing market over the projected period is anticipated to be modular BMS. Due to their adaptable software and hardware features, these systems are employed for high-quality electrical components and are simple to implement in battery packs.

By End-User Segment

In 2019, the automotive segment dominated the global battery management system industry, and the segment will remain dominant in the coming years because more vehicles, such as EVs, Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Vehicles, are demanding rechargeable batteries (PHEVs). In the aforementioned cars, BMS is crucial for monitoring and ensuring dependable and secure battery operations.

Regional Analysis

In the base year 2019, Europe acquired a lion’s share of the global battery management system industry, due to the existence of significant battery producers in the area, like FIAMM (Italy) and Saft (France). The presence of significant automakers like Daimler (Germany), the BMW Group (Germany), and Volkswagen is another factor contributing to the demand for battery management systems (Germany). As a result of encouraging government measures like subsidies for EV manufacturers and the exemption of registration fees and road charges, there has also been an increase in the penetration of EVs in the Netherlands. Additionally, by 2025, the nation intends to phase out conventional internal combustion engines powered by diesel or other fossil fuels. Similar plans exist in a number of other nations in the region, and they will probably phase out diesel cars over the next few years. Such bans will have a huge effect on global market growth.

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Prominent Competitors
Some of the well-established in the global battery management system market are:
Johnson Matthey PLC
Eberspaecher Vecture
Valence Technology, Inc.
Nuvation Engineering
Leclanche
Linear Technology Corporation
Storage Battery Systems
Lithium Balance
Other Prominent Players

Segmentation Outline
The global battery management system market segmentation focuses on Battery, Connectivity, Type, End-User, and Region.
By Battery
Lithium-Ion
Lead Acid
Nickel
Flow Batteries
Others

By Connectivity
Centralized
Automotive
Modular
Distributed

By Type
Motive Battery
Stationery Battery

By End-User
Automotive
o Electric Vehicles
o Automated Guided Vehicles
Military
Telecommunications
Renewable Energy Systems
Uninterrupted Power Supply (UPS)
Others

By Region
North America
The U.S.
Canada
Mexico

Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific

Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Argentina
Brazil
Rest of South America

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