Press release
Battery Management Modules Market to 2025: Worldwide Manufacturing Analysis, Applications, Opportunities and Trends
Battery management systems are particularly designed to meet the requirements of managing and protecting Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicle (PHEV) and battery packs used in Electric Vehicles (EV) with automotive grade quality. The growing applications of batteries that can be recharged in telecom, military and healthcare, and developing market for hybrid and electric vehicles are factors propelling the global market growth.Browse market data tables and in-depth TOC of the Battery Management Modules Market to 2025 @http://www.theinsightpartners.com/reports/battery-management-modules-market
The progress of battery management systems in power grids and automotive industry are representing the strong adoption of BMS globally. Automotive sector holds the largest market share and then comes consumer/handheld and energy. Possibility of fire accidents of electric vehicles (mostly battery electric vehicles) resulted in consumers’ concerns regarding the safety of electric vehicles. AS compared to HEV, both BEV and PHEV have more compound battery system assembly that needs more efficient battery strength and safety; thus, BEV and PHEV require more developed and dependable BMS. The BMS market is anticipated to propagate the growth of the EV market.
The electronics manufacturers are concentrating on producing small versions of electronic products, resulting in reduced size of BMS. Rising demand for reducing fuel costs and maximizing vehicle competence has led to technological progressions in EV and HEV. To upsurge utilization of battery storage ability and evade hazardous incidents caused by battery overheating, Original Equipment Manufacturers (OEM) of e-bikes and e-vehicles are integrating BMS systems in these vehicles. The global market for BEM is experiencing complex competition due to existence of huge number of manufacturer.
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The global battery management system market is segmented by topology into distributed, centralized and modular. Further, the market is segmented by component that includes battery, DC/DC converter, power module and communication channel. Also, the global battery management market is bifurcated on the basis of end-user into automotive, consumer/handheld and energy. This market is also bisected by regions i.e. Europe, APAC, North America, South America and Middle East & Africa.
The global market for battery management system is dominated by Asia Pacific owing to existence of major automotive manufacturers and increasing usage of hybrid and electric vehicles in China. Europe and North America covers the second largest share in the market. L&T Technology Services, Electric Vehicle Innovative Systems, Valence Technology, Inc., Panacis Inc., Johnson Matthey PLC, Merlin Equipment Ltd., Ashwoods Energy Limited, Vecture Inc., Toshiba Corporation, Lithium Balance Corporation, SK Continental E-motion, Nuvation Engineering, TWS are some of the key market players in the global battery management system market among others.
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