Battery Management System Market By Topology (Centralized, Distributed, Modular), By Component (Hardware (Battery Control Unit, Power Management ICs, Communication Channel) & Software), By Application (Energy Harvesting & Nano Power Solutions, Electric Bicycle Solutions, Wireless Power Devices, Handheld Consumer Medical Equipment, Portable Industrial Solutions, Automotive Power Solutions & Others), By End Use Industry (Automotive, Telecom, Power Systems, Medical, Industrial, Consumer Electronics, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: ESR 0032 Report Format: PDF + Excel

Battery Management System Market Overview

The Battery Management System Market is estimated to grow from $7.6 billion in 2021 at a robust CAGR of 17.4% during the forecast period 2022-2027. Battery management system refers to an electronic system that helps in monitoring and maintaining the health of the batteries. Battery management systems manage and protect the cells in a battery pack ranging from advanced lead acid batteries to lithium ion batteries, primarily nickel metal hydride based. These manage the rechargeable batteries by monitoring the state of the device and data thus ensuring long life battery pack and protecting the battery from damage. These comprise of functional blocks that include cell voltage monitor, real time clock, temperature monitors, microcontroller and others.  Advantages such as prevention of batteries from voltage fluctuations and over charging, optimizing and monitoring real time condition of battery thus enabling prolonged life of batteries will result for the market growth. The key drivers attributed to the growing demand for battery management systems market include increasing demand for electric vehicles, energy storage systems and growing consumption of rechargeable batteries in consumer electronics coupled with technological advancements. The transportation sector is also responsible for global warming to a greater extent. The emissions from the vehicle after the combustion of fuel is required to be controlled. The electric vehicles and battery-powered vehicles are now being developed as a substitute to the fuel engine vehicles that reduces the intensity of emission of toxic gases along with utilization of regenerative braking. In 2019 global car sales, electric cars constituted 2.6% of market share. In particular, China at 4.9% and Europe at 3.5% achieved new records in electric vehicle market share in 2019 before a slowdown due to Covid-19.  Increasing demand for electric vehicles has significantly elevated the growth of Battery Management System Market.

Report Coverage

The report: “Battery Management System Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Battery Management System Market Report.

By Topology – Centralized, Distributed, Modular
By Component – Hardware (Battery Control Unit, Power Management ICs, Communication Channel) and Software
By Application – Energy Harvesting and Nano Power Solutions, Electric Bicycle Solutions, Wireless Power Devices, Handheld Consumer Medical Equipment, Portable Industrial Solutions, Automotive Power Solutions and Others
By End Use Industry – Automotive, Telecom, Power Systems, Medical, Industrial, Consumer Electronics, Others
By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Australia and Others), South America (Brazil, Argentina and others) and RoW (Middle East and Africa).

Key Takeaways

  • Flow batteries' high capacity and ability to withstand extreme temperatures offer suitable for applications such as renewable energy systems and UPS.
  • Nickel-metal batteries have high energy density although they are secondary batteries in which environmentally friendly metals are used. These batteries find applications in electric vehicles, portable devices, smart grids, UPS, and others.
  • Solid-state batteries are better than conventional batteries as they are non-flammable, have a long shelf life, are safe, and release high energy.

Battery Management System Market, By Region, 2021 (%)

 Battery Management System Market

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Battery Management System Market Segment Analysis- By Industry

Automotive Battery Management market value was $2.9 Billion in 2021, with a CAGR of 16.6% during the forecast period. The initiative taken by the OEMs to develop electric versions of the passenger cars and other vehicles are being backed by government and research institutions and industrial programs. The Electronic Vehicle sector have witnessed huge investments by the government and industry programs. The investments on the EV sector are likely to accelerate the subsidy programs formulated for EVs dispersion across USA and European nations. The high adoption of advanced technology in these regions has triggered hefty spending by the government institutions to support EVs market as a part of national economic stimulus program. Today, a large portion of the European nations have introduced CO2 based car taxes, thus opening up new opportunity market for EVs. Therefore, increasing opportunities for electric vehicles has triggered the growth of Automotive Battery Management market during the forecast period. For electric vehicles or battery powered vehicles, batteries are developed such that failure of a cell among all the cells available does not lead to failure of the entire battery system. The battery sensors help to know the status of the batteries.

Battery Management System Market Segment Analysis- By Topology

Modular segment of Automotive Battery Management Market generated a revenue of $1.3 billion in 2021 and is projected to grow at a CAGR of 13.2% during 2022-2027. In the modular structure, several slave controllers are used to consolidate the data to a master controller. Over here, no printed circuits boards are necessary to connect the individual cells. Moreover, a modular BMS aims at improving the performance of BMS to provide a safe, reliable and cost-efficient solution for smart-grid and electric vehicles which in turn is set to propel its market growth. Besides, the major advantage of modular BMS is the improved manageability. The modules are placed close to the batteries, which avoids long cables. To improve, functional safety, the function of the BMS can be easily replicated on the individual modules. The scalability is also increased compared centralized BMS.

Battery Management System Market Segment Analysis- By Geography

The Automotive Battery Management market value is projected to grow with CAGR of 12.69% during 2021-2026. This growth is attributed to the increasing demand for automobiles and stringent emission standards. APAC will be the leading region for automotive battery management market mainly due to growing automobile demand in APAC and the shift of auto manufacturers to APAC for production in order to capture the untapped potential. The presence of automotive companies such as Tesla, Hyundai, General Motors, Ford will positively impact the Automotive Battery Management market. Apart from this, companies such as General Motors, Ford, Chrysler has incorporated Li-ion batteries in its electric vehicles models which in turn is driving its market growth. California is the largest plug-in car regional market in the U.S, with over 223,000 plug-in electric vehicles registered through June 2016, representing 47.6% of all plug-in cars sold in the American market.

Battery Management System Market Drivers

Increasing Demand for Intelligent Battery Management Systems

The battery's power load has been improved by features such as start/stop, electric power steering, and electronic braking systems. As a result, a major problem in a vehicle's electrical system has been prioritizing all of these electrical loads on a scale from comfort to safety. The demand for an intelligent battery management system (IBMS) is growing among automakers, and it is now being widely adopted across all regions. In a vehicle battery pack, IBMS is made up of advanced electronics like battery sensors that calculate the state of charge (SOC), state of health (SOH), and temperature across a cell and are linked in a series and parallel array. IBMS took all three measurements at the same time to ensure reliable results, even though the vehicle's conditions were rapidly changing. The use of IBMS assists in logically shutting down these electric vehicle systems and advising drivers about impending battery problems, effectively keeping them away from battery explosions. Continental AG, Hella, and Bosch are among the leading manufacturers of intelligent battery sensors. Technological advances have aided the automotive industry's rapid expansion. Automobiles are outfitted with sophisticated technologies, and automakers are constantly introducing new ones in the form of product enhancements and technical advancements. Electric cars are growing in popularity due to the need to reduce carbon emissions and provide energy-efficient batteries, which is propelling the growth of automotive batteries. The adoption of these powerful batteries has resulted from technological advancements that have overhauled the automotive product lifecycles.

Need for lower operational and administration expenditure

The lithium-ion battery recycling market is influenced by rising demand for electric as well as hybrid electric vehicles, where lithium-ion batteries are used extensively. The adoption of these vehicles results in a price hike of battery materials such as cobalt and lithium, thus making recycling of lithium-ion battery industries more profitable. The world's number of electric vehicles has seen a dramatic rise in recent years, pegging the world's current number of EVs at around 4 million. According to International Energy Agency, the number will increase up to 125 million by 2030 and more eclectic vehicles will come with Li-ion batteries. With such volumes of Li-ion batteries driving towards their end of useful life, there is a pressing need to ensure efficient lifecycle management of the batteries. In India the National Electric Mobility Mission Plan 2020, will boost the growth of lithium-ion battery and lithium-ion recycled battery industry, as the goal of the project is to bring 6-7 million electric vehicles on roads by 2020, and 175 GW of renewable energy production by 2022. Regulations in Europe and China hold the automaker responsible for battery recycling. Companies manufacturing electric vehicles such as BMW, Nissan, BYD, Renault and Rivian are exploring the use of recycled batteries. OEMs plan to buy back and repurpose used batteries for storage systems. The old batteries of Nissan Leaf are repurposed in Fukushima for use on other EVs and forklifts. Japan is another country where truck fuel efficiency requirements have been updated, and the country's automotive policy aims to cut 80 percent of its automotive greenhouse gas emissions by 2050.During the forecast period of 2022 to 2027, such favorable policies are expected to fuel the adoption of heavy-duty electric vehicles, such as trucks, and thus accelerate the adoption of battery management systems. As part of its Advanced Battery Storage Project, Renault collaborates with energy companies to build large scale storage units in Europe as well. These factors are supporting lithium-ion batteries recycling market.

Battery Management System Market Challenges

High Initial Cost of Integration

Battery Management producers have a range of costs to manage with a particular focus on raw material and production costs, i.e., labour and machinery. Other important costs include regulatory compliance costs, logistics costs, general overheads such as utilities and marketing. Costs of production continue to be a challenge for companies and a large proportion of Automotive Battery Management producers have outsourced their production totally or partially to subcontractors. Continuous fluctuations in the cost of raw materials namely lead and nickel over the past few years is one of the challenges to the increasing growth of automotive batteries ` A BMS can easily range from $300 to $10,000 depending on the nominal voltage of the battery stack and quantity of parallel stacks.

Battery Management System Market Landscape

Acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Battery Management System Market. Battery Management System top 10 companies include

  1. Johnson Matthey
  2. Leclanche
  3. Panasonic
  4. Storage Battery Systems
  5. STMicroelectronics
  6. Texas Instruments
  7. Eberspaecher Vecture
  8. Nuvation Engineering
  9. Lithium Balance
  10. Hitachi

Recent Developments

  • In August 2020, Johnson Matthey received funding for construction of new battery-material plant in Poland. Moreover, Johnson Matthey will use the factory in Konin to produce cathode materials for electric car batteries. The plant will become the world’s first production site of the company’s branded eLNO, a portfolio of ultra-high energy density next generation cathode battery materials.
  • In February 2021, Leclanche SA, one of the worlds leading energy storage companies, has developed a modular, all-in-one, high performance battery system optimized for powering new and retrofit hybrid and fully electric commercial vehicles.
  • In December 2020, Panasonic Corporation offered a new, cloud-based battery management service, known as the UBMC (Universal Battery Management Cloud) service, utilizing a proprietary AI-based technology that incorporates its battery expertise. The technology can ascertain the state of various types of batteries installed in electric mobility (e-mobility)*1 vehicles in real time to ensure they can be used with peace of mind.

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1. Battery Management System Market - Overview
    1.1 Definitions and Scope
2. Battery Management System Market - Executive summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by type of Application
    2.3 Key Trends segmented by Geography
3. Battery Management System Market 
    3.1 Comparative analysis
        3.1.1 Product Benchmarking - Top 10 companies
        3.1.2 Top 5 Financials Analysis
        3.1.3 Market Value split by Top 10 companies
        3.1.4 Patent Analysis - Top 10 companies
        3.1.5 Pricing Analysis 
4. Battery Management System Market – Startup companies Scenario Premium Premium
    4.1 Top 10 startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Battery Management System Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis – Top 10 companies
6. Battery Management System Market Forces
    6.1 Drivers
    6.2 Constraints
    6.3 Challenges
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Battery Management System Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product life cycle
    7.4 Suppliers and distributors Market Share
8. Battery Management System Market – By Component (Market Size -$Million / $Billion)
    8.1 Market Size and Market Share Analysis 
    8.2 Application Revenue and Trend Research
    8.3 Product Segment Analysis
        8.3.1 Hardware
            8.3.1.1 Battery Control Unit
            8.3.1.2 Power Management ICs
            8.3.1.3 Communication Channel
            8.3.1.4 Others
        8.3.2 Software
9. Battery Management System Market – By Topology (Market Size -$Million / $Billion)
    9.1 Centralized
    9.2 Modular
    9.3 Distributed
10. Battery Management System Market – By Applications (Market Size -$Million / $Billion)
    10.1 Energy Harvesting and Nano Power Solutions
    10.2 Electric Bicycle Solutions
    10.3 Wireless Power Devices
    10.4 Handheld Consumer Medical Equipment
    10.5 Portable Industrial Solutions
    10.6 Automotive Power Solutions
    10.7 Others
11. Battery Management System – By End Use Industry(Market Size -$Million / $Billion)
    11.1 Segment type Size and Market Share Analysis 
    11.2 Application Revenue and Trends by type of Application
    11.3 Application Segment Analysis by Type
        11.3.1 Automotive
        11.3.2 Telecom
        11.3.3 Power Systems
        11.3.4 Medical
        11.3.5 Industrial
        11.3.6 Consumer Electronics
        11.3.7 Others
12. Battery Management System Market - By Geography (Market Size -$Million / $Billion)
    12.1. Battery Management System Market - North America Segment Research
    12.2. North America Market Research (Million / $Billion)
        12.2.1. Segment type Size and Market Size Analysis 
        12.2.2. Revenue and Trends
        12.2.3. Application Revenue and Trends by type of Application
        12.2.4. Company Revenue and Product Analysis
        12.2.5. North America Product type and Application Market Size
            12.2.5.1. U.S.
            12.2.5.2. Canada 
            12.2.5.3. Mexico 
    12.3. Battery Management Systems - South America Segment Research
    12.4. South America Market Research (Market Size -$Million / $Billion)
        12.4.1. Segment type Size and Market Size Analysis 
        12.4.2. Revenue and Trends
        12.4.3. Application Revenue and Trends by type of Application
        12.4.4. Company Revenue and Product Analysis
        12.4.5. South America Product type and Application Market Size
            12.4.5.1. Brazil  
            12.4.5.2. Venezuela
            12.4.5.3. Argentina
            12.4.5.4. Ecuador
            12.4.5.5. Peru
            12.4.5.6. Colombia 
            12.4.5.7. Costa Rica
            12.4.5.8. Rest of South America
    12.5. Battery Management Systems - Europe Segment Research
    12.6. Europe Market Research (Market Size -$Million / $Billion)
        12.6.1. Segment type Size and Market Size Analysis 
        12.6.2. Revenue and Trends
        12.6.3. Application Revenue and Trends by type of Application
        12.6.4. Company Revenue and Product Analysis
        12.6.5. Europe Segment Product type and Application Market Size
            12.6.5.1. U.K  
            12.6.5.2. Germany 
            12.6.5.3. Italy 
            12.6.5.4. France
            12.6.5.5. Netherlands
            12.6.5.6. Belgium
            12.6.5.7. Spain
            12.6.5.8. Denmark
            12.6.5.10. Rest of Europe
    12.7. Battery Management Systems – APAC Segment Research
    12.8. APAC Market Research (Market Size -$Million / $Billion)
        12.8.1. Segment type Size and Market Size Analysis 
        12.8.2. Revenue and Trends
        12.8.3. Application Revenue and Trends by type of Application
        12.8.4. Company Revenue and Product Analysis
        12.8.5. APAC Segment – Product type and Application Market Size
            12.8.5.1. China 
            12.8.5.2. Australia
            12.8.5.3. Japan 
            12.8.5.4. South Korea
            12.8.5.5. India
            12.8.5.6. Taiwan
            12.8.5.7. Malaysia
            12.8.5.7. Others
    12.10. Battery Management Systems – RoW Segment Research
    12.10. RoW Market Research (Market Size -$Million / $Billion)
        12.10.1. Segment type Size and Market Size Analysis 
        12.10.2. Revenue and Trends
        12.10.3. Application Revenue and Trends by type of Application
        12.10.4. Company Revenue and Product Analysis
        12.10.5. RoW Segment – Product type and Application Market Size
            12.10.5.1. Middle East 
            12.10.5.2. Africa
13. Battery Management System Market - Entropy
    13.1. New product launches
    13.2. M&A's, collaborations, JVs and partnerships
13. Battery Management System Market – Industry / Segment Competition landscape Premium Premium
    14.1. Market Share Analysis
        14.1.1. Market Share by Country- Top companies
        14.1.2. Market Share by Region- Top 10 companies
        14.1.3. Market Share by type of Application – Top 10 companies
        14.1.4. Market Share by type of Product / Product category- Top 10 companies
        14.1.5. Market Share at global level- Top 10 companies
        14.1.6. Best Practises for companies
15. Battery Management System Market – Key Company List by Country Premium Premium
16. Battery Management System Market Company Analysis
    16.1. Market Share, Company Revenue, Products, M&A, Developments
    16.2. Larsen & Toubro Limited (India),
    16.3. Lithium Balance Corporation (Denmark)
    16.4. Toshiba Corporation (Japan)
    16.5. Merlin Equipment Ltd. (U.K)
    16.6. Johnson Matthey Battery Systems (U.K)
    16.7. Company 6
    16.8. Company 7
    16.10. Company 8
    16.10. Company 10
    16.11. Company 10
LIST OF TABLES
Table 1. Global Battery Management Systems Market – Pricing Analysis ($)
Table 2. Global Market Revenue, By Component, 2014-2020($Million)
Table 3. Global Market Volume, By Component, 2014-2020(Units)
Table 4. Global Market Revenue, By Application, 2014-2020($Million)
Table 5. Global Market Volume, By Application, 2014-2020(Units)
Table 6. Global Market Revenue, By End-User Industry, 2014-2020($Million)
Table 7. Global Market Volume, By End-User Industry, 2014-2020(Units)
Table 8. Global Market Revenue, By Topology, 2014-2020($Million)
Table 9. Global Market Volume, By Topology, 2014-2020(Units)
Table 10. Global Market Revenue, By Geography, 2014-2020($Million)
Table 11. Global Market Volume, By Geography, 2014-2020(Units)
Table 12. Global Energy Harvesting And Nano Power Solutions Battery Management Systems Market Revenue, By Geography, 2014-2020($Million)
Table 13. Global Energy Harvesting And Nano Power Solutions Market Volume, By Geography, 2014-2020(Units)
Table 14. Global Electric Bicycle Solutions Market Revenue, By Geography, 2014-2020($Million)
Table 15. Global Electric Bicycle Solutions Market Volume, By Geography, 2014-2020(Units)
Table 16. Global Wireless Power Devices Market Revenue, By Geography, 2014-2020($Million)
Table 17. Global Wireless Power Devices Market Volume, By Geography, 2014-2020(Units)
Table 18. Global Handheld Consumer Medical Equipment Market Revenue, By Geography, 2014-2020($Million)
Table 19. Global Handheld Consumer Medical Equipment Battery Management Systems Market Volume, By Geography, 2014-2020(Units)
Table 20. Global Portable Industrial Solutions Market Revenue, By Geography, 2014-2020($Million)
Table 21. Global Portable Industrial Solutions Market Volume, By Geography, 2014-2020(Units)
Table 22. Global Automotive Power Solutions Market Revenue, By Geography, 2014-2020($Million)
Table 23. Global Automotive Power Solutions Market Volume, By Geography, 2014-2020(Units)
Table 24. Global Other Market Revenue, By Geography, 2014-2020($Million)
Table 25. Global Other Market Volume, By Geography,2014-2020(Units)
Table 26. Americas Market Revenue, By End-User Industry, 2014-2020($Million)
Table 27. Americas Market Volume, By End-User Industry, 2014-2020(Units)
Table 28. Americas Market Revenue, By Application, 2014-2020($Million)
Table 29. Americas Market Volume, By Application, 2014-2020(Units)
Table 30. Americas Market Revenue, By Country, 2014-2020($Million)
Table 31. Americas Market Volume, By Country, 2014-2020(Units)
Table 32. APAC Market Revenue, By End-User Industry, 2014-2020($Million)
Table 33. APAC Market Volume, By End-User Industry, 2014-2020(Units)
Table 34. APAC Market Revenue, By Application, 2014-2020($Million)
Table 35. APAC Market Volume, By Application, 2014-2020(Units)
Table 36. APAC Market Revenue, By Country, 2014-2020($Million)
Table 37. APAC Battery Management Systems Market Volume, By Country, 2014-2020(Units)
Table 38. Europe Market Revenue, By End-User Industry, 2014-2020($Million)
Table 39. Europe Market Volume, By End-User Industry, 2014-2020(Units)
Table 40. Europe Market Revenue, By Application, 2014-2020($Million)
Table 41. Europe Market Volume, By Application, 2014-2020(Units)
Table 42. Europe Market Revenue, By Country, 2014-2020($Million)
Table 43. Europe Market Volume, By Country, 2014-2020(Units)
Table 44. RoW Market Revenue, By End-User Industry, 2014-2020($Million)
Table 45. RoW Market Volume, By End-User Industry, 2014-2020(Units)
Table 46. RoW Market Revenue, By Application, 2014-2020($Million)
Table 47. RoW Market Volume, By Application, 2014-2020(Units)
Table 48. RoW Market Revenue, By Country, 2014-2020($Million)
Table 49. RoW Market Volume, By Country, 2014-2020(Units)
Table 50. Global Automotive Battery Management System Market Revenue, By Geography, 2014-2020($Million)
Table 51. Global Automotive Battery Management System Market Volume, By Geography, 2014-2020(Units)
Table 52. Global Telecom Battery Management System Market Revenue, By Geography, 2014-2020($Million)
Table 53. Global Telecom Battery Management System Market Volume, By Geography, 2014-2020(Units)
Table 54. Global Power Grid Battery Management System Market Revenue, By Geography, 2014-2020($Million)
Table 55. Global Power Grid Battery Management System Market Volume, By Geography, 2014-2020(Units)
Table 56. Global Wind Market Revenue, By Geography, 2014-2020($Million)
Table 57. Global Wind Market Volume, By Geography, 2014-2020(Units)
Table 58. Global Solar Market Revenue, By Geography, 2014-2020($Million)
Table 59. Global Solar Market Volume, By Geography, 2014-2020(Units)
Table 60. Global Other Market Revenue, By Geography, 2014-2020($Million)
Table 61. Global Other Battery Management Systems Market Volume, By Geography, 2014-2020(Units)
Table 62. M&A, Product Launches, 2014-2015

LIST OF FIGURES
Figure 1. Global Battery management systems Market, By Geography, 2014 - 2020 ($Million)
Figure 2. Segmentation of Global Market
Figure 3. Global Market Competitive Share Analysis, 2014(%)
Figure 4. Global Market Share, By End-User Industry, 2014 (%)
Figure 5. Global Market Share, By Component, 2014 (%)
Figure 6. Global Market Share, By Application, 2014 (%)
Figure 7. Global Market Share, By Geography, 2014 (%)
Figure 8. Global Market Share, By Topology, 2014 (%)
Figure 9. Americas Market Share, By Country, 2014 (%)
Figure 10. Europe Market Share, By Country, 2014 (%)
Figure 11. APAC Market Share, By Country, 2014 (%)
Figure 12. RoW Market Share, By Country, 2014 (%)
Figure 13. Battery management systems Market Recent Developments, By Year, 2010-2014