Market Definition
A Battery Management System (BMS) ensures the safety of the battery pack by continuously monitoring & controlling parameters like temperature & voltage. The system facilitates the battery with protection & durability through a charging regime & maintenance.
Market Insights
According to a new study by MarkNtel Advisors, the Global Battery Management System Market is projected to grow at a CAGR of around 21.1% during the forecast period, i.e., 2021-26. The market growth primarily attributes to the rapid advancements in the efficiency of batteries, coupled with the rising adoption of Electric Vehicles (EVs) across the world.
The alarming environmental concerns, owing to the massive consumption of fossil fuels and increasing Green House Gas (GHG) emissions, are compelling the governments across different regions like Asia-Pacific, Europe, & North America to promote using fuel alternatives like batteries.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 21.1% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Russia | |
| Asia-Pacific: China, India, Japan, South Korea, Australia | |
| South America: Brazil, Argentina, Colombia | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | Elithion Inc., Linear Technologies, Johnson Matthey, Ventec SAS, Venture Inc., NXP Semiconductor, Nuvation Engineering |
| Unit Denominations | USD Million/Billion |
Besides, with the increasing installation of off-grid renewable energy generation plants to deliver electrical services in households, public services, and commercial & industrial areas, the need for power flow measurement, controlled power production, and distribution & monitoring information on electricity usage is escalating the demand for battery management systems globally.
Moreover, consumer electronics like smartphones, tablets, laptops, cameras, etc., are other crucial areas observing an increasing utilization of rechargeable batteries. Hence, the aspects cited above create an immense need for a battery management system to protect battery cells from damage through adequate voltage management & controlled charging, further states the research report, “Global Battery Management System Market Analysis, 2021.”
Severe Impact of Covid-19 on the Global Battery Management System Market
Market Segmentation
Based on Battery Type, the Global Battery Management System Market segments into:
Of them all, the demand for BMS for Lithium-Ion Batteries is projected to witness the fastest growth in the forecast period. It owes to the complete discharging & overcharging of lithium-ion batteries, consequently reducing their life cycle. Hence, it is propelling manufacturers to incorporate battery management systems in their various product offerings.
Besides, other batteries like the Lead-Acid battery have less efficiency than Lithium-Ion batteries in terms of their environmental impacts, mileage, & charging duration. Hence, it is another crucial aspect expected to fuel the demand for Lithium-Ion batteries among Electric Vehicles and, in turn, augment the overall market growth.
Automotive Sector to Witness the Fastest Market Growth During 2021-26
Of them all, the Automotive sector is expected to demonstrate rapid growth in the forecast period. It owes principally to The growing adoption of EVs due to their low operating costs is the prime aspect likely to lead to the fastest growing demand for BMS across the automotive sector through 2026. Additionally, burgeoning EV sales, particularly across Asia-Pacific, Europe, & North America, are attracting several EV manufacturers to adopt BMS for EVs & ensure proper charging management, states MarkNtel Advisors in their research report, “Global Battery Management System Market Analysis, 2021.”
Regional Landscape
Asia-Pacific to Dominate the Global Battery Management System Market with the Largest Share
The mounting adoption of electronics, particularly across countries like China & India, and the growing R&D activities by governments to emphasize renewable power generation are the prime aspects likely to lead Asia-Pacific to dominate the market in the coming years. Additionally, increasing private investments in power & utility sectors and expanding transmission lines shall also boost the regional market in the coming years.
In the region, China is projected to display the fastest market growth over the forecast years, mainly due to the rising requirements for consumer electronics, thereby surging the demand for battery management systems.
On the other hand, India is expected to become a vast market for EVs in the coming years. It would fuel the integration of battery management systems and offer growth opportunities to the market players in the forecast period.
Market Dynamics:
Key Driver
The most prominent factor expected to drive the Global Battery Management System Market during 2021-26 is the rapidly expanding automotive sector, owing to the increasing sales of EVs, especially across Asia-Pacific, Europe, & North America.
Market Restraint
The prime factor that might hinder the market growth in the forecast period is the reducing demand for BMS among cost-sensitive customers owing to the higher costs of the final product that comes with it.
Competitive Landscape
According to MarkNtel Advisors, the leading players in the Global Battery Management System Market are Elithion Inc., Linear Technologies, Johnson Matthey, Ventec SAS, Venture Inc., NXP Semiconductor, Nuvation Engineering, etc.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Battery Management System Market is projected to grow at a CAGR of around 21.1% during 2021-26.
A. Lithium-ion Battery is projected to attain the highest CAGR and emerge as an area of opportunity for the leading players in the Global Battery Management System Market during 2021-26.
A. The rapidly expanding automotive sector due to increasing EV sales across Asia-Pacific, Europe, & North America is anticipated to drive the Global Battery Management System Market through 2026.
A. The market is likely to observe potential threats or competitions from both new & existing industry players and, in turn, a slow growth pace & gradual recovery from the losses in the coming years.
1. Introduction
1.1. Research Process
1.2. Assumption
1.3. Market Segmentation
1.4. Market Definition
2. Executive Summary
3. Expert Verbatim- What our Experts Say?
4. Global Battery Management System Market Outlook, 2016-2026F
4.1. Market Potential & Outlook
4.1.1. By Revenues
4.2. Market Segmentation & Outlook
4.2.1.1. By Battery Type
4.2.1.1.1. Lithium-Ion Battery
4.2.1.1.2. Lead-Acid Battery
4.2.1.1.3. Nickel Battery
4.2.1.1.4. Flow Battery
4.2.1.1.5. Others
4.2.1.2. By Topology
4.2.1.2.1. Centralized
4.2.1.2.2. Distributed
4.2.1.2.3. Modular
4.2.1.3. By Components
4.2.1.3.1. Hardware
4.2.1.3.2. Software
4.2.2. By Application
4.2.2.1.1. Automotive
4.2.2.1.2. Military & Defense
4.2.2.1.3. Consumer Electronics
4.2.2.1.4. Medical & Healthcare
4.2.2.1.5. UPS
4.2.2.1.6. Telecommunication
4.2.2.1.7. Renewable Energy Systems
4.2.2.1.8. Others
4.2.3. By Region
4.2.3.1. North America
4.2.3.2. South America
4.2.3.3. Europe
4.2.3.4. Middle East & Africa
4.2.3.5. Asia-Pacific
4.2.4. By Company
4.2.4.1. Revenue Shares
4.2.4.2. Strategic Factorial Indexing
4.2.4.3. Competitor Placement in Markntel Quadrant
5. North America Battery Management System Market Outlook, 2016-2026F
5.1. Market Potential & Outlook
5.1.1. By Revenues
5.2. Market Segmentation & Outlook
5.2.1. By Battery Type
5.2.2. By Topology
5.2.3. By Components
5.2.4. By Application
5.2.5. By Country
5.2.5.1. US
5.2.5.2. Mexico
5.2.5.3. Canada
5.3. The US Battery Management System Market Outlook (2016-2026F)
5.3.1. Market Potential & Outlook
5.3.1.1. By Revenues
5.3.2. Market Segmentation & Outlook
5.3.2.1. By Battery Type
5.3.2.2. By Topology
5.3.2.3. By Components
5.3.2.4. By Application
5.3.2.5. By Region
5.4. Canada Battery Management System Market Outlook, 2016-2026F
5.4.1. Market Potential & Outlook
5.4.1.1. By Revenues
5.4.2. Market Segmentation & Outlook
5.4.2.1. By Battery Type
5.4.2.2. By Topology
5.4.2.3. By Components
5.4.2.4. By Application
5.4.2.5. By Region
5.5. Mexico Battery Management System Market Outlook, 2016-2026F
5.5.1. Market Potential & Outlook
5.5.1.1. By Revenues
5.5.2. Market Segmentation & Outlook
5.5.2.1. By Battery Type
5.5.2.2. By Topology
5.5.2.3. By Components
5.5.2.4. By Application
5.5.2.5. By Region
6. South America Battery Management System Market Outlook, 2016-2026F
6.1. Market Potential & Outlook
6.1.1. By Revenues
6.2. Market Segmentation & Outlook
6.2.1. By Battery Type
6.2.2. By Topology
6.2.3. By Components
6.2.4. By Application
6.2.5. By Country
6.2.5.1. Brazil
6.2.5.2. Argentina
6.2.5.3. Colombia
6.3. Brazil Battery Management System Market Outlook, 2016-2026F
6.3.1. Market Potential & Outlook
6.3.1.1. By Revenues
6.3.2. Market Segmentation & Outlook
6.3.2.1. By Battery Type
6.3.2.2. By Topology
6.3.2.3. By Components
6.3.2.4. By Application
6.3.2.5. By Region
6.4. Argentina Battery Management System Market Outlook, 2016-2026F
6.4.1. Market Potential & Outlook
6.4.1.1. By Revenues
6.4.2. Market Segmentation & Outlook
6.4.2.1. By Battery Type
6.4.2.2. By Topology
6.4.2.3. By Components
6.4.2.4. By Application
6.4.2.5. By Region
6.5. Colombia Battery Management System Market Outlook, 2016-2026F
6.5.1. Market Potential & Outlook
6.5.1.1. By Revenues
6.5.2. Market Segmentation & Outlook
6.5.2.1. By Battery Type
6.5.2.2. By Topology
6.5.2.3. By Components
6.5.2.4. By Application
6.5.2.5. By Region
7. Europe Battery Management System Market Outlook, 2016-2026F
7.1. Market Potential & Outlook
7.2. Market Potential & Outlook
7.2.1. By Revenues
7.3. Market Segmentation & Outlook
7.3.1. By Battery Type
7.3.2. By Topology
7.3.3. By Components
7.3.4. By Application
7.3.5. By Country
7.3.5.1. Germany
7.3.5.2. France
7.3.5.3. UK
7.3.5.4. Italy
7.3.5.5. Russia
7.4. Germany Battery Management System Market Outlook, 2016-2026F
7.4.1. Market Potential & Outlook
7.4.1.1. By Revenues
7.4.2. Market Segmentation & Outlook
7.4.2.1. By Battery Type
7.4.2.2. By Topology
7.4.2.3. By Components
7.4.2.4. By Application
7.4.2.5. By Region
7.5. The UK Battery Management System Market Outlook, 2016-2026F
7.5.1. Market Potential & Outlook
7.5.1.1. By Revenues
7.5.2. Market Segmentation & Outlook
7.5.2.1. By Battery Type
7.5.2.2. By Topology
7.5.2.3. By Components
7.5.2.4. By Application
7.5.2.5. By Region
7.6. France Battery Management System Market Outlook, 2016-2026F
7.6.1. Market Potential & Outlook
7.6.1.1. By Revenues
7.6.2. Market Segmentation & Outlook
7.6.2.1. By Battery Type
7.6.2.2. By Topology
7.6.2.3. By Components
7.6.2.4. By Application
7.6.2.5. By Region
7.7. Italy Battery Management System Market Outlook, 2016-2026F
7.7.1. Market Potential & Outlook
7.7.1.1. By Revenues
7.7.2. Market Segmentation & Outlook
7.7.2.1. By Battery Type
7.7.2.2. By Topology
7.7.2.3. By Components
7.7.2.4. By Application
7.7.2.5. By Region
7.8. The Spain Battery Management System Market Outlook, 2016-2026F
7.8.1. Market Potential & Outlook
7.8.1.1. By Revenues
7.8.2. Market Segmentation & Outlook
7.8.2.1. By Battery Type
7.8.2.2. By Topology
7.8.2.3. By Components
7.8.2.4. By Application
7.8.2.5. By Region
7.9. Russia Battery Management System Market Outlook, 2016-2026F
7.9.1. Market Potential & Outlook
7.9.1.1. By Revenues
7.9.2. Market Segmentation & Outlook
7.9.2.1. By Battery Type
7.9.2.2. By Topology
7.9.2.3. By Components
7.9.2.4. By Application
7.9.2.5. By Region
8. Middle East & Africa Battery Management System Market Outlook, 2016-2026F
8.1. Market Potential & Outlook
8.1.1. By Revenues
8.2. Market Segmentation & Outlook
8.2.1. By Battery Type
8.2.2. By Topology
8.2.3. By Components
8.2.4. By Application
8.2.5. By Country
8.2.5.1. Saudi Arabia
8.2.5.2. UAE
8.2.5.3. South Africa
8.3. Saudi Arabia Battery Management System Market Outlook, 2016-2026F
8.3.1. Market Potential & Outlook
8.3.1.1. By Revenues
8.3.2. Market Segmentation & Outlook
8.3.2.1. By Battery Type
8.3.2.2. By Topology
8.3.2.3. By Components
8.3.2.4. By Application
8.3.2.5. By Region
8.4. UAE Battery Management System Market Outlook, 2016-2026F
8.4.1. Market Potential & Outlook
8.4.1.1. By Revenues
8.4.2. Market Segmentation & Outlook
8.4.2.1. By Battery Type
8.4.2.2. By Topology
8.4.2.3. By Components
8.4.2.4. By Application
8.4.2.5. By Region
8.5. South Africa Battery Management System Market Outlook, 2016-2026F
8.5.1. Market Potential & Outlook
8.5.1.1. By Revenues
8.5.2. Market Segmentation & Outlook
8.5.2.1. By Battery Type
8.5.2.2. By Topology
8.5.2.3. By Components
8.5.2.4. By Application
8.5.2.5. By Region
9. Asia-Pacific Battery Management System Market Outlook, 2016-2026F
9.1. Market Potential & Outlook
9.1.1. By Revenues
9.2. Market Segmentation & Outlook
9.2.1. By Battery Type
9.2.2. By Topology
9.2.3. By Components
9.2.4. By Application
9.2.5. By Country
9.2.5.1. China
9.2.5.2. India
9.2.5.3. Australia
9.2.5.4. Japan
9.3. China Battery Management System Market Outlook, 2016-2026F
9.3.1. Market Potential & Outlook
9.3.1.1. By Revenues
9.3.2. Market Segmentation & Outlook
9.3.2.1. By Battery Type
9.3.2.2. By Topology
9.3.2.3. By Components
9.3.2.4. By Application
9.3.2.5. By Region
9.4. Japan Battery Management System Market Outlook, 2016-2026F
9.4.1. Market Potential & Outlook
9.4.1.1. By Revenues
9.4.2. Market Segmentation & Outlook
9.4.2.1. By Battery Type
9.4.2.2. By Topology
9.4.2.3. By Components
9.4.2.4. By Application
9.4.2.5. By Region
9.5. India Battery Management System Market Outlook, 2016-2026F
9.5.1. Market Potential & Outlook
9.5.1.1. By Revenues
9.5.2. Market Segmentation & Outlook
9.5.2.1. By Battery Type
9.5.2.2. By Topology
9.5.2.3. By Components
9.5.2.4. By Application
9.5.2.5. By Region
9.6. South Korea Battery Management System Market Outlook, 2016-2026F
9.6.1. Market Potential & Outlook
9.6.1.1. By Revenues
9.6.2. Market Segmentation & Outlook
9.6.2.1. By Battery Type
9.6.2.2. By Topology
9.6.2.3. By Components
9.6.2.4. By Application
9.6.2.5. By Region
9.7. Malaysia Battery Management System Market Outlook, 2016-2026F
9.7.1. Market Potential & Outlook
9.7.1.1. By Revenues
9.7.2. Market Segmentation & Outlook
9.7.2.1. By Battery Type
9.7.2.2. By Topology
9.7.2.3. By Components
9.7.2.4. By Application
9.7.2.5. By Region
9.8. Australia Battery Management System Market Outlook, 2016-2026F
9.8.1. Market Potential & Outlook
9.8.1.1. By Revenues
9.8.2. Market Segmentation & Outlook
9.8.2.1. By Battery Type
9.8.2.2. By Topology
9.8.2.3. By Components
9.8.2.4. By Application
9.8.2.5. By Region
10. Global Battery Management System Market Policies, Regulations, Product Standards
11. Global Battery Management System Market Trends & Insights
12. Global Battery Management System Market Dynamics
12.1.Growth Drivers
12.2.Challenges
12.3.Impact Analysis
13. Global Battery Management System Market Hotspot and Opportunities
14. Global Battery Management System Market Key Strategic Imperatives for Success and Growth
15. Competitive Outlook
15.1.Competition Matrix
15.1.1. Product Portfolio
15.1.2. Brand Specialization
15.1.3. Target Markets
15.1.4. Target Components
15.1.5. Research & Development
15.1.6. Strategic Alliances
15.1.7. Strategic Initiatives
15.2.Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
15.2.1. Elithion Inc.
15.2.2. Linear Technologies
15.2.3. Johnson Matthey
15.2.4. Ventec SAS
15.2.5. Venture Inc.
15.2.6. NXP Semiconductor
15.2.7. Nuvation Engineering
15.2.8. Texas Instruments
15.2.9. Vecture Inc.
15.2.10. Lithium Balance
16. Disclaimer
