03-20-2017 02:05 PM CET - Advertising, Media Consulting, Marketing Research
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battery management system market revenue is expected to increase at a CAGR of 19.9% during the forecast period 2015–2025

Press release from: Future Market Insights

Global Battery Management System Market Overview

The global battery management system market is projected to reach US$ 11,730.0 Mn by 2025, expanding at an estimated CAGR of 19.9% during the forecast period. Battery management system is an electronic system that helps maintain optimal health of rechargeable batteries. The BMS manages batteries by controlling load environment, monitoring battery state and accordingly balancing charging the battery. Battery management system is useful for ensuring prolonged life of batteries, preventing battery damage due to overcharging and voltage fluctuations, managing optimal state of charging of the battery and facilitating BMS interfaces with host application to provide real-time information regarding battery health. BMS follows three types of topologies, which are distributed, centralised and modular.

Battery Management Systems

Vertical Overview

The global battery management system market is segmented on the basis of verticals into automotive, energy, telecom and drones. Among the automotive verticals, demand for BMS in e-vehicles is significant, and the segment is estimated to account for 14.2% revenue share of the global battery management system market by the end of 2015. As per FMI estimates, this segment is projected to expand at a CAGR of 21.1% during the forecast period. In 2015, the automotive vertical is estimated to dominate the global market, accounting for 39.5% share in terms of revenue, followed by the energy and consumer/handheld verticals with shares of 26.3% and 17.4%, respectively. Automotive vertical dominated the market in 2014 and is expected to expand at a CAGR of 20.8% during forecast period.

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Regional Overview

By the end of 2015, APEJ is estimated to dominate the market and account for around 29.1% share of the global market, followed by North America and Western Europe. By the end of 2015, the North America and Western Europe regions are estimated to be the other major contributors to the global market, collectively accounting for 40.8% share of the overall market, respectively.

Drivers

Apart from the other sectors, consumption of rechargeable batteries is growing in the consumer electronics sector as well. Rechargeable batteries are used in products such as power tools and vacuum pumps, and rise in demand for these products is driving the growth of the global battery management system market currently. It has been witnessed that the acceptance of electronic gadgets such as power tools, garden tools, portable medical tools, portable battery packs and various other technological goods in emerging regions has been increasing over the last few years, particularly in Asia.

Trends

The electronics manufacturers are focusing on manufacturing miniature versions of electronic products, due to which size of BMS is being reduced by the manufacturers. Increasing demand for minimising fuel costs and maximising vehicle efficiency has led to technological advancements in electric and hybrid electric vehicles. To increase utilisation of battery storage capacity and avoid hazardous incidents caused due to battery overheating, OEMs of e-vehicles and E-bikes are integrating BMS systems in vehicles. The global battery management system market is experiencing high level of competition due to presence of large number of manufacturers.

Competition Landscape

Key players across the supply chain of the global battery management system market include OEMs/suppliers of BMS, BMU integrators and electronic devices manufacturers that manufacture BMSs. The companies that have been analysedin the report include The Ventec Company, Nuvation Engineering, Ashwoods Energy Limited, TWS, Lithium Balance Corporation, Vecture Inc., Toshiba Corporation, L&T Technology Services Ltd., Merlin Equipment Ltd., AVL, Navitas System LLC and Johnson Matthey PLC.

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About Us – Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

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