Battery Management System (BMS) Market Demand Is Dominated By Huge Demand For Electric Vehicles (EVs) And Hybrid Vehicles

"Huge demand for electric and hybrid vehicles and rising environmental concerns are expected to drive the demand for global battery management system (BMS) market for the forecast period."

According to TechSci Research report, "Global Battery Management System (BMS) Market By Battery Type (Lithium-Ion, Lead-Acid, Nickel based, Others), By Topology (Centralized, Distributed, Modular), By Type (Stationary Battery, Motive Battery), By Component (Hardware, Software), By Application (Automotive, UPS, Telecommunications, Renewable Energy Systems, Military and Others), By Company, By Region, Forecast & Opportunities, 2026", the global battery management system market is expected to witness significant growth for the next five years on account of increasing efforts of manufacturers to design battery management system miniature versions integrated with small electronic components. Battery management system offers different features such as battery charger control, cell-over voltage and under-voltage protection and it also monitors the health of battery pack, among others.

Manufacturers are integrating battery management system with e-vehicles and e-bikes to avoid incidents and ensure optimum usage of battery storage capacity. Increasing cost of fuel and government policies and regulations regarding carbon dioxide emissions is accelerating the product demand. To ensure the proper functioning and controlling of battery and monitor crucial functions such as battery performance and maintenance scheduling, to check if the battery is overcharged or undercharged, voltages and currents, temperature, among others. Increasing demand for consumer and portable electronics and presence of customer engaging applications is making the users to use the devices for long duration of time and therefore require long hours of battery usage. Growing need for electricity generation to cater to the growing needs of rising population is fueling the global battery management system market.
However, the lack of skilled labors who can implement and test the battery management system and the associated high cost may create hindrance to the market growth.

Browse XX Figures spread through XX Pages and an in-depth TOC on "Global Battery Management System (BMS) Market"
https://www.techsciresearch.com/report/battery-management-system-market/7514.html

Global battery management system market is segmented into battery type, topology, type, component, application, region, and company.

Based on battery type, market is further divided into lithium-ion, lead-acid, nickel based and others. Nickel based batteries followed closely by other battery segments is expected to dominate the battery management system market for the forecast period. Nickel metal batteries are secondary batteries having high energy density in which environment friendly materials are used. Nickel batteries find diverse applications in electric vehicles, portable devices, smart grids, and others. Flow batteries can withstand extreme temperatures which make them suitable for renewable energy resources. Solid-state batteries have higher shelf life, non-flammable, are safe and release large amounts of energy.

Based on topology, market is fragmented into centralized, distributed, and modular. Modular segment is expected to witness fastest growth for the next five years. Manufacturers prefer modular segment over its counter-parts due to its high computational power and it does not require complex wire harness, so it is considered more secure. Modular topology finds diverse application in various verticals comprising of industrial UPS, medical mobility vehicles, electric vehicles, drones, and energy storage systems, among others which is the main contributing factor for high market demand for the forecast period.

Based on application, market is segregated into automotive, UPS, telecommunications, renewable energy systems, military, and others. The automotive industry is dominating the market and is expected to maintain its dominance throughout the forecast period. Rising demand for rechargeable battery in plug-in hybrid vehicles and hybrid electric vehicles is fostering the market demand. Technological advancements in electric vehicles to minimize the fuel costs and maximize vehicle efficiency is contributing significantly to the battery management system market growth.

Major Key Players:

Linear Technology Corporation, Lithium Balance A/S, Johnson Matthey PLC, Elithion, Inc., AVL List, Toshiba, Panasonic, Texas Instruments, Inc., Valence Technology, Inc., Ventec SAS are the leading players operating in global BMS market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several battery management system manufacturers are coming up with their technologically advanced offerings.

"Stringent government policies around the world to reduce the carbon footprint and promotion of electric vehicles to reduce the carbon emissions is driving the battery management system market. Adoption of renewable energy and environment-friendly resources by automotive manufacturers and telecom operators to take the benefits of tax relaxations and subsidies is boosting the battery management market across the globe. Integration of emerging technologies such as artificial intelligence, machine learning, internet of things with battery management systems is expected to propel the market growth until 2026" said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Download Free Sample Report
https://www.techsciresearch.com/sample-report.aspx?cid=7514

"Customers can also request for 10% free customization on this report."

"Global Battery Management System (BMS) Market By Battery Type (Lithium-Ion, Lead-Acid, Nickel based, Others), By Topology (Centralized, Distributed, Modular), By Type (Stationary Battery, Motive Battery), By Component (Hardware, Software), By Application (Automotive, UPS, Telecommunications, Renewable Energy Systems, Military and Others), By Company, By Region, Forecast & Opportunities, 2026" has evaluated the future growth potential of global battery management system market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global battery management system market.

Table of Contents

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Global Battery Management System Market

5. Voice of Customer

6. Global Battery Management System Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value and Volume
6.2. Market Share & Forecast
6.2.1. By Battery Type (Lithium-Ion, Lead-Acid, Nickel based, Others)
6.2.2. By Topology (Centralized, Distributed, Modular)
6.2.3. By Type (Stationary Battery, Motive Battery)
6.2.4. By Component (Hardware, Software)
6.2.5. By Application (Automotive, UPS, Telecommunications, Renewable Energy Systems, Military and Others)
6.2.6. By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)
6.2.7. By Company (2021)
6.3. Product Market Map (By Vehicle Type, By Equipment Type, By Material, By Region) ….Conti…

Related Reports

Global Power Rental Market has valued at USD 19.03 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.93% through 2028.

For More Information:
https://www.techsciresearch.com/report/global-power-rental-market/2373.html

Global Hybrid Solar Wind Systems Market has valued at USD 871.29 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.41% through 2028.

For More Information:
https://www.techsciresearch.com/report/hybrid-solar-wind-systems-market/23349.html

Global Gas Turbines Market has valued at USD 15.68 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 3.17% through 2028.

For more information:
https://www.techsciresearch.com/report/global-gas-turbines-market/1541.html

Contact Us:

TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York, NY,
United States, 10170
Phone No.: +13322586602
Email: sales@techsciresearch.com
Website: https://www.techsciresearch.com

About Us:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends. Not bound by legacy, TechSci's cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

This release was published on openPR.