Power Battery Management System Global Market Growth Factors, Competitive Landscape, Future Prospects and Opportunity Assessment by Forecast 2023

Market Overview:-

Global Power battery management system market is expected to have a very broad market in coming recent. MRFR analysts has predicted that power battery management system industry is about to grow at a rapid pace. Moreover, the economic growth with emissions reduction have given the growth, a momentum. The global power battery management system market is poised to grow at an estimated CAGR of 11.86% through the forecast period.

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Environmental sustainability, increasing adoption electric or hybrid vehicles, various incentives and tax benefits to manufacture hybrid and electric vehicles, locally, act as growth drivers for the market. Moreover, off-grid renewable energy generation is expected to witness significant growth over the forecast period due to rising off-grid installations, owing to the government support and growing focus on improving living conditions. High maintenance cost and lack of technical know-how regarding installation, may restraint the growth of the global power battery management systems market.

Top Key Players:-

The major players operating in the market of global power battery management system are LG Chem Ltd (South Korea), ABB (Switzerland), Robert Bosch GmbH (Germany), AES Energy Storage (U.S.), Continental AG (Germany), Kefico Corporation (Korea ), AEG Power Solutions (Germany), Greensmith Energy (U.S.), Su-Kam Power Systems Ltd (India), Exide Industries Limited (India).

Major Points of TOC:-

1 Executive Summary

2 Introduction

2.1 Definition 16

2.2 Scope Of The Study 16

2.3 Assumptions 16

2.4 Market Structure 17


3 Research Methodology

3.1 Research Process 18

3.2 Primary Research 19

3.3 Secondary Research 19

3.4 Market Size Estimation 19

3.5 Forecast Model 21

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4 Market Dynamics4.1 Drivers 23

4.1.1 Downfall In The Technology Cost 23

4.1.2 Increasing Application Of Battery Management System In All End-User Industries 23

4.2 Restraints 23

4.2.1 High Initial Capital Investment 23

4.3 Opportunity 24

4.3.1 High Investment In Energy Storage Systems With Grid Expansion And Scope Of Development In End-User Sectors 24

Regional Analysis:-

Asia Pacific accounted for the largest market share of 47.35% in 2016, followed by North America, which is expected to grow at a CAGR of 11.85% during the forecast period. Asia-Pacific has a cumulative energy storage capacity of 73.51 GW. Open pumped hydro storage contributed about 72.6 GW and the remaining 0.91 GW capacity came through batteries and thermal, chemical & electro-chemical energy storage. The government of India has set up a target of 6-7 billion electric vehicle by end of 2020. This increase in the production of electric vehicle will drive the power battery management system. Asia Pacific has a great potential in overall energy storage capacity due to growing concern to develop renewable energy resources and carbon footprint.

North America held the largest share of the global PBMS market in 2016, owing to the rapid adoption of power battery management systems in various applications such as portable device, automotive, renewable energy storage system, and telecommunication in this region. Geographically, U.S. is one of the major revenue generators of power battery management system. However, for the manufacturer there will be ample opportunities to invest or increase the production capacity.

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