Battery Management System Market Size, BMS Sector / Industry Report & Analysis, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Battery Management System Market


The global Battery Management System market size is projected to reach US$ 14.52 billion by 2026, from US$ 5.11 billion in 2020, at a CAGR of 19% during 2021-2026. This growth is attributed to the increasing adoption of Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) across the globe owing to stringent policies, such as Kyoto protocol, implemented to curb Greenhouse Gas (GHG) emissions. EVs use lithium-ion technology, which has higher energy densities, less mass, and longer life than traditional batteries.

However, lithium-ion batteries fail if they are operated outside their safe temperature window, overcharged, or completely discharged. Thus, to ensure safety and prolonged life, they need special care and use of reliable BMS, especially in high-voltage battery packs used in commercial applications, such as EVs. For effectively controlling the several functions critical to the safe and proper operation of batteries, BMSs monitor batteries against functions, such as voltages and currents, temperatures, battery performance, and maintenance scheduling, to check whether the battery is overcharged or undercharged. In addition, BMS also monitors the conditions of individual cells in a battery pack.

Some of the other primary functions of a BMS include protecting the battery from damage, protecting cells from out of tolerance conditions, and monitoring the charge and discharge state of every cell. All these factors are boosting the demand for BMS in automotive applications.

Use of BMSs can lead to a notable rise in the final cost of a product or application, which may result in reduced demand for a large, cost-sensitive consumers due to its high cost, discouraging product manufacturers from using BMSs despite their proven benefits. Moreover, the lack of skilled labor capable of implementing or testing battery management systems in several emerging economies could act as a restraint for the battery management system market. Additionally, incentives for manufacturing HEVs are expected to increase investments from public and private investors, which, in turn, is anticipated to increase the penetration of HEVs.

Market Segmentation, Outlook & Viewpoint: Global Battery Management System Market

Battery Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Lithium-ion-based
  
Lead-acid-based
  
Nickel-based
  
Flow batteries
  
Others

Topology Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Centralized
  
Distributed
  
Modular

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Automotive
  
Consumer Electronics
  
Medical & Healthcare
  
Military & Defense
  
Renewable Energy Systems
  
UPS
  
Telecommunication
  
Others

Key Players, Recent Developments & Regional Insights: Global Battery Management System Market

Based on application, the market has been segmented into automotive, consumer electronics, medical and healthcare, military and defense, renewable energy systems, and UPS and telecommunications. The automotive segment is expected to witness the highest CAGR over the forecast period owing to rising number of vehicles requiring rechargeable batteries including EVs, Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Vehicles (PHEVs). BMS plays a major role in the aforementioned vehicles for supervising and guaranteeing reliable and safe battery operations.

Consumer electronics is also estimated to exhibit a strong growth owing to increasing number of consumer applications and usage of portable electronics devices, which require long hours of battery charge. Rising environmental concerns, coupled with the growing need for electricity generation, are expected to increase the demand for BMSs in the energy sector. Product demand in off-grid renewable energy generation sector is expected to witness significant rise in future. This growth in demand can be attributed to the increased off-grid installations by end-use industries owing to government support and focus on improving living conditions in rural areas.

Regional Insights

North America is expected to witness significant growth over the forecast period due to increasing penetration of EVs coupled with supportive government initiatives. The U.S. American Recovery and Reinvestment Act grants funds to private and government entities to develop HEVs, which is further expected to positively impact the market growth in near future. Europe is also likely to register a healthy growth on account of increased penetration of EVs in Netherlands as a result of encouraging government initiatives, such as incentives to the EV manufacturers and exemption of registration fees and road taxes. Furthermore, the country plans to phase out conventional, internal combustion engine vehicles running on diesel or other forms of fossil fuel by 2025. Several other countries in the region have similar plans and are likely to phase out diesel vehicles in the coming years. Such bans will have a major impact on the growth of the BMS market.

Battery Management System Market Share Insights

Some of the major market participants include Johnson Matthey PLC (U.K.); Nuvation Engineering (U.S.); Valence Technology, Inc. (U.S.); and Linear Technology Corporation (U.S.). Companies are aiming for a greater share in the market through differentiated product offerings, brand loyalty programs, and increased focus on R&D activities. They also focus on opportunities to expand their geographic reach across emerging economies.

Key Insights Covered: Global Battery Management System Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Battery Management System industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Battery Management System industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Battery Management System industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Battery Management System industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Battery Management System industry.

Research Methodology: Global Battery Management System Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other