Battery Management System Market to Witness Steady Expansion During 2018 to 2027| Latest key companies are Eberspaecher Vecture Inc, Toshiba Corporation, L&T Technology Services, AVL List GmbH, Lithium Balance A/S

Fact.MR has complied a study on battery management system market and published a report titled, “Battery Management System Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027.” The battery management system market report provides actionable insights that are backed by in-depth analysis of market dynamics such as market drivers, restraints, trends and future opportunities.

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The battery management system market report covers study of the market for the historical period 2013-2017 and forecast period 2018-2027. Along with the study of battery management system market, the report also includes analysis of associated industry developments.

Battery Management System Market Remains Consolidated Among Tier 1 Players, OEMs’ Hegemony Continues

End-user preference for reliable battery management services explains dominant share of Tier 1 players who are original equipment manufacturers. Battery management systems used in healthcare devices such as heart monitor; defense radio and mobile unmanned devices are required to provide services that are critical in nature. Manufacturer of these devices prefer services of a certified providers who deliver proven and reliable battery management systems.

Further, application landscape of battery management system is expanding, thereby encouraging OEMs to broaden their product offerings of medium to high voltage battery management systems, particularly for electric vehicles as well as renewable energy and load balancing applications.

Battery Management Systems to Become the Cornerstone of Electric Vehicles

The highly embraced lithium ion battery in electric vehicles carries its own challenge of instability in case of over or under charged circumstances. As the electric vehicle momentum is picking up, auto manufacturers are vying to develop electric car technology that delivers assurance to customers. Disruptive innovations in battery technology and battery management system have bridged the initial energy gap due to which EVs failed to flourish in the beginning.

Huge investments are underway to develop battery management system with smart microcontrollers that precisely monitors vital battery parameters. While efforts are underway to increase battery capacity to meet performance demand, a need for an efficient battery monitoring device has increased investments in battery management systems in the EV landscape.

Fleet Owners Leverage Battery Management Systems to Enhance Operational Efficiency

The material handling equipment landscape has adopted multiple advanced technologies to address frequent downtimes of equipment. While predictive maintenance is being integrated in fleet management to mitigate the impacts of downtime, fleet owners are incorporating battery management systems in a bid to minimize fleet running cost and enhance operational efficiency.

As poor battery maintenance results in shorter battery life and run times, warehouse and fleet owners are embracing installations of battery management systems that deliver effective battery management, reduced downtime and significant savings that were spent on changing the malfunctioned batteries. Additional advantages of battery management system installation includes saving of warehouse space that was previously devoted to battery charging and safe charging regimes.

Well aware of these benefits, fleet owners and retailers that own warehouses are actively adopting battery management systems to optimize battery performance and increase overall operational efficiency.  

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Growing Reliance on UPS to Boost Battery Management System Application

Power consumption is rising at an exponential rate against the backdrop of urbanization, digitalization and increasing reliance of businesses on IT infrastructure. To ensure a continuous power supply, demand for an uninterrupted power source or UPS has witnessed a meteoric rise in the past decade. Further, an uninformed power cut can cause a significant monetary loss to a business, in turn underlining importance of UPS that allows shift to a standby power supply or gives time for proper shut down of critical equipment.

Lithium ion batteries have replaced traditional batteries to a greater extent in UPS and are meeting the demand for high power capacity in the electronic battery operated devices. With the rising adoption of UPS and battery-operated devices, sales of batter management services are set to rise in the coming years.

Limitations of Circuit Protection in High Power Applications – A Major Challenge for Battery Management System Manufacturers

The battery industry has witnessed development of high voltage batteries on the back of emergence of electric vehicles. In addition, increasing numbers of electric components in automobiles have generated the need for higher voltage batteries. While automotive industry is exploring lithium ion batteries for high power demand, circuit protection remains highly critical as its failure can lead to thermal incidence or contact with car’s metal framework resulting in an accident.

While designers seek to avoid these complexities, the current battery management system lacks a single solution which accommodates circuit protection need of the entire high voltage battery system. Current applications include combination approaches wherein new architectures or new voltage classes are introduced to maximize economies of scale. Lack of a standard application-specific solution in battery management system remains a major challenge wherein a significant investments are being utilized.

Battery Management System Market - Competitive Landscape

Few of the key players profiled in the battery management system market include Eberspaecher Vecture Inc., Toshiba Corporation, Larsen & Turbo Technology Services, AVL List GmbH, Lithium Balance A/S, Johnson Matthey Plc., Texas Instrument Inc., NXP Semiconductors NV, Nuvation Engineering, and Merlin Equipment Ltd.

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