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Battery management system (BMS) is an electronic system that monitors the performance of the battery, balances the charge of battery cells present in series, helps in detecting faults in individual cells present in a battery pack consisting of multiple cells, and protects the battery from operating outside the Safe Operating Area (SOA) & damage. Hence, the BMS market is correlated with the battery market, as most battery applications need BMS to monitor and optimize the performance of a system. The increasing use of renewable energy storage systems, growing adoption of electric vehicles (EVs), hybrid electric vehicles (HEVs), and PHEVs, and increasing integration of BMS in consumer electronics is expected to drive the BMS market growth during the forecast period.
Increasing Adoption of Electric Vehicles - Driving the Market
The growing environmental concerns and reducing fossil fuels have led to the innovation and development of electric vehicles. Battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) are two main types of electric vehicles. BEV uses batteries for energy storage and the battery has to be plugged-in to recharge. Whereas, PHEV uses both batteries and liquid-fuel storage & refueling systems. Lithium-ion properties, such as high energy & current density, makes it highly suitable for application in electric vehicles. But, these batteries can be dangerous if they are not operated within their SOA. For this purpose, BMS is required in every lithium-ion battery, especially when used in electric vehicles. Hence, BMS finds wide application in electric vehicles, owing to the safety concerns related to lithium-ion batteries. The EV market has witnessed considerable growth over the past five years, and the trend is likely to remain the same in the coming years. Hence, the growth of EV market is likely to add to the demand for BMS market considerably in the coming years.
Asia-Pacific BMS Market to Witness Fastest Growth
Asia-Pacific is likely to witness fastest growth during the forecast period. In Asia-Pacific, China is expected to witness strong growth, owing to the rapid growth of EV market. The rising demand for consumer electronics is likely to further add to the demand for BMS, owing to the increasing integration of BMS in consumer electronics for safety purpose. North America is also expected to witness considerable growth in the demand for BMS, owing to the increasing sale of electric vehicles in the region. After China, the United States witnessed the second highest sale of electric vehicles in 2016. Along with this, the US government’s emphasis on shifting the automotive production base back to the country from Mexico is likely to add to the existing EVs production in the country. In Europe, the increasing renewable energy infrastructure and increasing production of electric vehicles are likely to drive the demand for BMS during the forecast period.
China to Lead the Asia-Pacific BMS Market
China is expected to lead the BMS market in the Asia-Pacific region in the coming years. China is the biggest market for EVs, globally. In 2016, the country witnessed about 75% increase in the sales of BEV and about 30% increase in the sales of PHEV, compared to the sales in 2015. In 2016, around 351,000 electric passenger cars were delivered in China, thus, making it the largest market for electric cars (or new energy vehicles, NEV, as they are called in China). The government subsidies for the purchase of new energy vehicles, and to support industries, as well as investments in energy storage power plants are the factors that are likely to drive the demand for BMS in China in the coming years.
Key Developments in the Market
• January 2018: Nissan launched an all-in-one home energy solution, including solar panels, a battery and an energy management system.
• January 2018: Maxim launched an advanced battery management system for developing smarter car in the future. Automotive OEMs can enhance the safety of their lithium-ion battery packs with robust communications, comprehensive diagnostics, and lower system costs with the company’s MAX17843 12-channel, high-voltage smart sensor data-acquisition device.
MAJOR PLAYERS: EBERSPAECHER VECTURE Inc., ELITHION, Inc., RENESAS ELECTRONICS CORPORATION, JOHNSON MATTHEY PLC, LITHIUM BALANCE., NAVITAS SYSTEM, LLC CORPORATE, NUVATION ENGINEERING, amongst others
Reasons to Purchase This Report
• Identify the drivers, restraints, and opportunities possessed by the global battery management system market, with in-depth analysis.
• Analyze the various perspectives of the market with the help of Porter’s five forces analysis.
• Identify the most dominating type of battery with forecasted market estimate in the global battery management system market.
• Identify the largest, fastest-growing, and significant regions during the forecast period, with in-depth analysis.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Increasing Adoption of Electric Vehicles - Driving the Market
The growing environmental concerns and reducing fossil fuels have led to the innovation and development of electric vehicles. Battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) are two main types of electric vehicles. BEV uses batteries for energy storage and the battery has to be plugged-in to recharge. Whereas, PHEV uses both batteries and liquid-fuel storage & refueling systems. Lithium-ion properties, such as high energy & current density, makes it highly suitable for application in electric vehicles. But, these batteries can be dangerous if they are not operated within their SOA. For this purpose, BMS is required in every lithium-ion battery, especially when used in electric vehicles. Hence, BMS finds wide application in electric vehicles, owing to the safety concerns related to lithium-ion batteries. The EV market has witnessed considerable growth over the past five years, and the trend is likely to remain the same in the coming years. Hence, the growth of EV market is likely to add to the demand for BMS market considerably in the coming years.
Asia-Pacific BMS Market to Witness Fastest Growth
Asia-Pacific is likely to witness fastest growth during the forecast period. In Asia-Pacific, China is expected to witness strong growth, owing to the rapid growth of EV market. The rising demand for consumer electronics is likely to further add to the demand for BMS, owing to the increasing integration of BMS in consumer electronics for safety purpose. North America is also expected to witness considerable growth in the demand for BMS, owing to the increasing sale of electric vehicles in the region. After China, the United States witnessed the second highest sale of electric vehicles in 2016. Along with this, the US government’s emphasis on shifting the automotive production base back to the country from Mexico is likely to add to the existing EVs production in the country. In Europe, the increasing renewable energy infrastructure and increasing production of electric vehicles are likely to drive the demand for BMS during the forecast period.
China to Lead the Asia-Pacific BMS Market
China is expected to lead the BMS market in the Asia-Pacific region in the coming years. China is the biggest market for EVs, globally. In 2016, the country witnessed about 75% increase in the sales of BEV and about 30% increase in the sales of PHEV, compared to the sales in 2015. In 2016, around 351,000 electric passenger cars were delivered in China, thus, making it the largest market for electric cars (or new energy vehicles, NEV, as they are called in China). The government subsidies for the purchase of new energy vehicles, and to support industries, as well as investments in energy storage power plants are the factors that are likely to drive the demand for BMS in China in the coming years.
Key Developments in the Market
• January 2018: Nissan launched an all-in-one home energy solution, including solar panels, a battery and an energy management system.
• January 2018: Maxim launched an advanced battery management system for developing smarter car in the future. Automotive OEMs can enhance the safety of their lithium-ion battery packs with robust communications, comprehensive diagnostics, and lower system costs with the company’s MAX17843 12-channel, high-voltage smart sensor data-acquisition device.
MAJOR PLAYERS: EBERSPAECHER VECTURE Inc., ELITHION, Inc., RENESAS ELECTRONICS CORPORATION, JOHNSON MATTHEY PLC, LITHIUM BALANCE., NAVITAS SYSTEM, LLC CORPORATE, NUVATION ENGINEERING, amongst others
Reasons to Purchase This Report
• Identify the drivers, restraints, and opportunities possessed by the global battery management system market, with in-depth analysis.
• Analyze the various perspectives of the market with the help of Porter’s five forces analysis.
• Identify the most dominating type of battery with forecasted market estimate in the global battery management system market.
• Identify the largest, fastest-growing, and significant regions during the forecast period, with in-depth analysis.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
