The latest market report published by Credence Research, Inc. “Global Battery Management Systems Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028″. The Global Battery Management Systems Market generated around USD 7419.7 million in 2021 and is anticipated to grow a CAGR of over 18.70 % during the forecast period from 2022 to 2028 to reach around USD 20753.467 million in 2028. While cumulative growth opportunity presented by the global Battery Management Systems is around USD 13333.7670 million from 2022 to 2028.
The brain behind battery packs is known as a battery management system. It is an electrical system that regulates and keeps track of battery charging and discharging and notifies users of battery packs’ status and health. One of the primary roles of a battery management system is to provide essential safeguards to prevent batteries from harm. Lithium-ion battery design involves two major design problems. The first problem is that if they are overcharged, they might get damaged and cause an overheating fire or other issues. Additionally, a lithium-ion battery can suffer harm if it is drained below a certain level, which is around 5% of its overall capacity. Batteries might sustain long-term damage if they are allowed to drain below this point. The primary drivers of market expansion will likely be the increased demand for battery-powered automobiles and efficient electric grid management. It is anticipated that the rising need for energy storage systems, the popularity of electric vehicles, and the pervasiveness of battery monitoring in renewable energy systems will all propel market expansion.
The global Battery Management Systems market is bifurcated into Battery type, Type, Topology, Application, and Geography. Based on Battery type, the market is classified into Advanced Lead-Acid, Lithium-ion, and others. Based on type, the market is split into Stationary and Motive batteries. Based on topology, the market is classified into Modular, Centralized, and Distributed. By verticals, the market is segmented into Military, Telecommunications, Automotive, Renewable Energy Systems, UPS (Uninterrupted Power Supply), and Others. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Demand of Battery Management Systems Market
The market for battery management systems is growing as the demand for electric vehicles and other electrically powered devices increases. Battery management systems help to extend the life of batteries and improve their performance. When coupled with renewable energy sources, such as solar or wind power, battery management systems can help to create a more sustainable and environmentally friendly power system.
Geography Insights of Battery Management Systems Market
The Battery Management Systems (BMS) market is classified into four major geographies, North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW). Of these, APAC is projected to grow at the highest CAGR during the forecast period. The rising demand for electric vehicles in the region is one of the key factors driving the growth of the BMS market in APAC. China is a major contributor to the growth of the BMS market in APAC. In China, the government is providing incentives and subsidies to promote electric vehicles. This is leading to an increase in the adoption of electric vehicles in the country. Moreover, China is a leading manufacturer of electric vehicles. The presence of a large number of Original Equipment Manufacturers (OEMs) in China is also driving the growth of the BMS market in APAC.
Europe is another major market for BMS. The growing demand for electric vehicles in Europe is one of the key factors driving the growth of the BMS market in this region. Germany and France are among the major markets for electric vehicles in Europe. The government policies and regulations regarding emissions from vehicles are very stringent in these countries. This has led to an increase
Why to Buy This Report-
· This report represents an analytical review of the global market for battery management systems together with current trends and forecasts for the future to show potential investment areas.
· By comprehending the profitable trends to establish a better footing, it is possible to estimate the whole market opportunity.
· With a thorough impact analysis, the study provides information on the significant market drivers, inhibitors, and opportunities.
· The existing battery management system market is statistically examined to assess financial competency from 2022 to 2028.
· The study includes information about the market’s competitive environment, including how the significant competitors operate on a global, regional, and national basis.
Table OF Content:
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Battery Management System Market
3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Battery Management System Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Battery Type
3.3.2. Type
3.3.3. Topology
3.3.4. Applications
3.3.5. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis
4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Competitive Benchmarking
4.3. Geographical Presence Analysis
4.4. Major Strategies Adopted by Key Players
4.4.1. Key Strategies Analysis
4.4.2. Mergers and Acquisitions
4.4.3. Partnerships
4.4.4. Product Launch
4.4.5. Geographical Expansion
4.4.6. Others
5. COVID 19 Impact Analysis
5.1. Global Battery Management System Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply
6. North America
6.1. North America Battery Management System Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Battery Management System Market, by Battery Type, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Lithium Ion
6.2.3. Advanced Lead-Acid
6.2.4. Others
6.3. North America Battery Management System Market, by Type, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Motive Battery
6.3.3. Stationary Battery
6.4. North America Battery Management System Market, by Topology, 2016-2028(US$ Bn)
6.4.1. Overview
6.4.2. Centralized
6.4.3. Modular
6.4.4. Distributed
6.5. North America Battery Management System Market, by Applications, 2016-2028(US$ Bn)
6.5.1. Overview
6.5.2. Automotive
6.5.3. Military
6.5.4. Telecommunications
6.5.5. Renewable Energy Systems
6.5.6. UPS (Uninterrupted Power Supply)
6.5.7. Others
7. Europe
……….
8. Asia Pacific
………
9. Latin America
……..
10. Middle East
……..
11. Africa
……….
12. Global
12.1. Global Battery Management System Market, by Battery Type, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Lithium Ion
12.1.3. Advanced Lead-Acid
12.1.4. Others
12.2. Global Battery Management System Market, by Type, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Motive Battery
12.2.3. Stationary Battery
12.3. Global Battery Management System Market, by Topology, 2016-2028(US$ Bn)
12.3.1. Overview
12.3.2. Centralized
12.3.3. Modular
12.3.4. Distributed
12.4. Global Battery Management System Market, by Applications, 2016-2028(US$ Bn)
12.4.1. Overview
12.4.2. Automotive
12.4.3. Military
12.4.4. Telecommunications
12.4.5. Renewable Energy Systems
12.4.6. UPS (Uninterrupted Power Supply)
12.4.7. Others
13. Company Profiles
13.1. Lithium Balance (Denmark)
13.2. Leclanche (Switzerland)
13.3. Nuvation Engineering (U.S.)
13.4. Storage Battery Systems (U.S.)
13.5. Eberspaecher Venture (Canada)
13.6. Johnson Matthey (U.K.)
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