Vancouver, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The global Battery Management System (BMS) market size was USD 7.43 Billion in 2021 and is expected to register a revenue CAGR of 20.4% during the forecast period, according to the latest analysis by Emergen Research. Growing advancements in battery management system technologies and rising demand for Electric Vehicles (EVs) are major factors projected to support market revenue growth between 2021 and 2030. A battery pack is an assembly of battery cells under the control of BMS, which monitors battery, provides battery protection, estimates battery’s operational state, optimizes battery performance, and reports operational status to external devices. Rechargeable batteries are controlled by BMS, which makes sure they function effectively and securely. The circuit board of a BMS, which contains a number of electronic components, helps to raise e battery pack's ambient temperature. Heat management is a crucial component for maintaining vehicle safety because entire mechanism operates in a small space.
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Rising initiatives from governments of various countries for adoption of EVs are increasing demand for battery management systems. For example, Chile aims to set energy efficiency requirements for new cars sold by automakers or importers, taking into account electric and hybrid vehicles' multipliers when determining sales average automobile efficiency.
However, stringent laws governing import taxes on battery management components and systems and technological deficiencies and complexity in the battery structure are factors expected to hamper revenue growth of the market.
Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 7.43 Billion |
| CAGR (2021–2030) | 20.4% |
| Revenue Forecast to 2030 | USD 38.97 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2021 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Battery type, topology, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Leclanché SA, Nuvation, Eberspächer, Analog Devices, Inc., BMS PowerSafe, Johnson Matthey, Epec, LLC., Elithion, Inc., NXP Semiconductors, Exponential Power, Renesas Electronics Corporation, and Texas Instruments Incorporated |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global battery management system market is consolidated with a few companies accounting for majority market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective battery management systems. Some major companies included in the global battery management system market report are:
- Leclanché SA
- Nuvation
- Eberspächer
- Analog Devices, Inc.
- BMS PowerSafe
- Johnson Matthey
- Epec, LLC.
- Elithion, Inc.
- NXP Semiconductors
- Exponential Power
- Renesas Electronics Corporation
- Texas Instruments Incorporated
Strategic Development
- On 20 January 2022, Bird Global, Inc., a pioneer in environmentally friendly electric transportation released fresh information on its ground-breaking Battery Management System (BMS), which powers millions of micro-EV trips worldwide. By creating and incorporating IP68-rated lithium-ion battery cell packs in its most recent vehicles, the business is also lifting bar for micro-EV battery safety and technology. IP68 protects battery from dust and other liquids such as water. This cutting-edge battery management technology offers real-time monitoring and analysis to keep cars ready to transport riders from point A to point B and lessen reliance on gas-powered automobile trips.
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Some Key Highlights From the Report
- The nickel battery segment is expected to register a significant revenue CAGR during the forecast period. Nickel battery produces high peak power, has greater specific energy with less hazardous metals, less impact on memory, is eco-friendly, and has a nice deep discharge.
- The Uninterrupted Power Supply (UPS) segment is expected to register a rapid growth rate during the forecast period. Battery systems are used in grid power to provide backup and protect against grid power fluctuations. These systems have applications in cell phone towers, A/C power substations, internet infrastructure tools, aviation ground support systems, tower communications, weather stations, and distributed energy resources.
- The Europe market accounted for second-largest revenue share in 2021 due to rising demand for advanced BMS for electric cars and bikes, which is driving revenue growth of the market in this region.
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Emergen Research has segmented the global battery management system market based on battery type, topology, end-use, and region:
- Battery Type Outlook (Revenue, USD Billion; 2019–2030)
- Lead-Acid Battery
- Lithium-ion Battery
- Nickel Battery
- Others
- Topology Outlook (Revenue, USD Billion; 2019–2030)
- Centralized
- Distributed
- Modular
- End-use Outlook (Revenue, USD Billion; 2019–2030)
- Automotive
- E-Bikes
- Electric Vehicles
- Autonomous Guided Vehicles
- Telecommunications
- Military
- Renewable Energy Systems
- Uninterrupted Power Supply (UPS)
- Others
- Automotive
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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