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.
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.
Some of the key participants in this Battery Management System Market industry include:
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.
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The Global Battery Management System Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects.
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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The report studies the impact of the COVID-19 pandemic on the Battery Management System Market .The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale.
Scope of the Global Battery Management System Market Report :
The report performs an accurate estimation of the growth prospects of the different market segments by studying the current market scenario, past performance, demand and supply ratio, production, consumption, sales, and revenue generation of the key players in the upcoming years. The market segmentation provides a 360° view of the Battery Management System Market industry, which turns out to be beneficial for readers interested in this sector.
Global Battery Management System Market Market Research Objectives:
To provide deep understanding of the Battery Management System Market industry.
To highlight the critical data of each segment at extensive level.
To determine key success factors in different segments of Battery Management System Market industry.
To highlight the trends in specific sectors.
To give insights into key segments.
To carry economic analysis, build quantitative and financial models of global Battery Management System Market industry and individual segments.
To project future performance of the global Battery Management System Market industry and identify imperatives.
To identify risks of investing in particular segments and suggest appropriate strategies to mitigate the risks.
To study what held back the Battery Management System Market industry during pandemic and forces that are driving up the global Battery Management System Market post-pandemic.
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)
Topology Outlook (Revenue, USD Billion; 2019–2030)
End-use Outlook (Revenue, USD Billion; 2019–2030)
Autonomous Guided Vehicles
Renewable Energy Systems
Uninterrupted Power Supply (UPS)
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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