Electric Two-Wheeler Lithium-Ion Battery Management System Market : Centralized, Distributed, Modular 2021-2031

The electric two-wheeler lithium-ion battery management system market was valued at $0.5 billion in 2021, and is estimated to reach $2.8 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.

Centralized battery management system is one of the most compact and straightforward topologies available in the electric two-wheeler lithium-ion battery management system market. In this type of architecture, the pack management unit (PMU), module management unit (MMU), and cell monitoring unit (CMU) are coupled in a single entity on a printed circuit board (PCB). Centralized battery management system has lower design cost, as all necessary components of battery management system, such as pack management unit, and module management unit are coupled on printed circuit board, which, in turn, drives the growth of centralized segment. In addition, replacement and troubleshooting in this topology is significantly easy as compared to other types of topologies.

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Factors, such as increase in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), and rise in industry preference for use of lithium-ion batteries drive the growth of the electric two-wheeler lithium-ion battery management system market. However, increase in overall price of the products with addition of battery management system hinders the growth of the market. Further, increase in adoption of cloud-connected battery management systems, growth in demand for renewable energy, and growth in demand for e-bikes and e-scooters provide remarkable growth opportunities for players operating in the market.

COVID-19 Impact Analysis

Owing to the COVID-19 pandemic, commuters are mostly avoiding the use of public transportation, and e-bikes are considered a safe, convenient, and affordable alternative to public transportation. According to industry experts and e-bike manufacturers, such as Rad Power Bike, VanMoof, and Lectric e-bike, e-bikes are increasingly considered an ideal transportation mode. According to the Ministry of Industry and Information Technology, China registered a surge in demand for electric bike and reached the production at 25.48 million during the first 10 months of the 2020, a year-on-year increase of 33.4%.

In addition, according to Taiwan External Trade Development Council (TAITRA), Taiwan recorded 21% increase in electric bike exports. Thus, according to International Nederlanden group (ING) report, the number of people opting for electric bikes has gained momentum during the global health crisis and people are depending on electric mobility for emergencies such as food supplies or medicines.

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The e-bike market observed a huge boost in sales post COVID-19 in 2021. However, post 2021, the market would return to normalcy. The demand for e-bikes would grow at a moderate rate, considering the continuation of safer public and private transportation systems, such as metros, buses, and cab/ride-sharing platforms.

KEY FINDINGS OF THE STUDY

By vehicle type, the motorcycle segment is anticipated to exhibit significant growth in the near future.

By topology, the centralized segment is anticipated to exhibit significant growth in the near future.

By region, LAMEA is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global electric two-wheeler lithium-ion battery management system market include Elithion Inc, Jiangsu Xinri e-vehicle Co., Ltd., Leclanche SA, Lithium Balance, Mahindra & Mahindra Ltd., Navitas System LLC, Nuvation Energy, NXP Semiconductors, Renesas Electronics Corporation, Shenzhen Litongwei Electronic Technology Co., Ltd, Texas Instruments Incorporated, and Yamaha Motor Co., Ltd.

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