Battery Management System Market Size, Share and Global Trend By Type (Centralized, Distributed, Modular), By Battery Type (Lithium-ion Battery, Lead-Acid Battery, Nickel Battery, Flow Battery, Others), By Application (Automotive, Energy Storage, Consumer Electronics, Renewables, Telecom, Healthcare, Military & Defence, Others) and Regional Forecast, 2024-2032

The battery management system is an electronically operated management system for rechargeable batteries. The battery management systems aid in the protection of the battery pack, calculating the state of charge and monitoring the safety and health of the battery pack among other applications.

Additionally, the battery management systems provide some specific features for batteries used in electric vehicles such as battery discharge protection, charge protection, and state of charge monitoring, among other features. The choice of the battery management system defines the life period and quality of the battery pack. For high power traction and stationary batteries, the battery management system is a must-have technology for monitoring the parameters continuously.

By type, the battery management system market is bifurcated as centralized, distributed, and modular battery management systems. The centralized battery management system contains a single controller that is connected to multiple batteries through wires.

The distributed type has a battery management system board for a particular battery that is linked to it through a single wire. In modular type, some controllers are interconnected and control a desired number of batteries. The centralized battery management system is expected to dominate the battery management system by type owing to its economical price and least expandable as compared to other battery management systems.

Based on battery type, the market is segmented as lithium-ion, lead-acid, nickel, flow and other types of batteries. The lithium-ion battery is likely to dominate the segment due to its increasing application in various end-use industries. By applications, the battery management system market is classified on the basis of the battery management systems used in automotive, energy storage, consumer electronics, renewables, telecom, healthcare, military & defense, and other industries.

Players involved in the power generation, renewable and telecom industries are focused on using batteries and other power backup sources such as UPS and generators for meeting the power demands in case of a power outage. The battery management systems have applications such as calculating peak power, maximum DoD, and average power among others.

Owing to this, the growth of the renewable, telecom, and power generation industries is likely to augment the market growth of the battery management system market in the near future. Battery management systems are used for applications such as calculating the state of charge and state of health of the battery cells of electric or hybrid vehicles. The growth in the sales of the hybrid vehicles is thus expected to boost the demand for the battery management systems over the forecast period.

Battery management systems generally have defined logics and limited control capabilities. In order to achieve and maintain the required efficiencies, the battery management systems need battery monitoring systems for generating additional required information related to different parameters which add in the cost of the battery management systems. This is expected to have a negative impact on the growth of the battery management systems in the coming years.

Key Players Covered

Some of the major companies that are present in the global battery management system market are Toshiba Electronic Devices and Storage Corporation, FICOSA, Schneider Electric, Lithium Werks, Johnson Matthey, Analog Devices, Nuvation Energy, Texas Instruments Incorporated, Renesas Electronics, Orion BMS, NXP Semiconductors, Accurate Ampere, PowerTech Systems and AVL among others.

SEGMENTATION

Regional Analysis

The global battery management system market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In order to curb the changing climatic conditions, the U.S is planning to add new renewable capacities in the coming years. For instance, Texas, Lowa, and Illinois are planning to add wind power capacities of more than 6 GW in the year 2019 as reported by U.S Energy Information Administration. Owing to the growth of the renewable industry in North America, the battery management system market is expected to grow at a decent pace in the near future. The Europe region has witnessed significant growth in the sales of electric vehicles in the recent past. Owing to this, the automotive industry in the region is expected to witness an appreciable growth in the coming years. The growth of the automotive industry in Europe is likely to drive the growth of the battery management system market in the region. Latin America region is focused on adding new renewable capacities to meet the energy demands in the region. Owing to the growth of the renewable industry in Latin America, the battery management system market is expected to grow at significant rates in the coming years. Increasing renewable solar capacities in South Africa and GCC countries is expected to boost the energy storage and renewable industry growth in the Middle East and Africa region. Owing to this, the battery management system market is expected to gain traction over the forecast period in the Middle East and Africa. Asia Pacific region is focused on increasing the electric vehicle fleet owing to the growing concern for CO₂ emissions. The Telecom industry in the region is also reported to have decent growth in the recent past. Owing to the growth of the electric vehicle market and the telecom industry, the battery management system market is expected to witness healthy growth in the region.

Key Industry Developments

• In July 2019, Vertical Partners West LLC announced a collaborative agreement with Teledyne Energy Systems Inc for expansion of the product portfolios. The companies are involved in the supply and servicing of the batteries, battery management system, drones, and fuel cells among others
• In February 2018, Lithium Werk B.V acquired Valence Technology Inc to expand its footprint and strengthen the product portfolio. The company is focused on increasing the battery management system and valence module sales by expanding the product portfolio
• In February 2018, FICOSA was awarded five contracts for supplying the battery management systems for the Chinese market