Fact.MR’s Report on Global Battery Management System Market
In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global battery management system market considering 2013-2017 as the historic year and 2018–2027 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
10,500 thousand battery management systems are likely to be sold in 2019, which will nearly 20% increase over 2018, according to Fact.MR’s latest study. The optimistic growth of the battery management system market can be attributed to,
- Electrification of the automotive industry that heavily relies on batteries
- Development of high power batteries and increasing demand for improved battery management system
- Significant investments by OEMs to develop efficient and reliable battery management systems
The study foresees that centralized topology in the battery management system market will continue to hold a larger market share. In 2019, volume sales of centralized topology are expected to account for over four-fifth share of battery management system market.
The battery management system market study outlines the key regions – North America, Latin America, APEJ, Japan, MEA – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are 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.
The battery management system market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing battery management system market?
- How does the global battery management system market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2027?
- What innovative products are being introduced by the players in the global battery management system market?
- Which regions are showing the fastest market growth?
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On the basis of topology, the battery management system market study consists of
- Centralized
- Modular
- Distributed
According to the Fact.MR study, battery management unit component is projected to account for over 73% volume sales in 2019. However, the communication unit component witnessed a significant y-o-y growth of 21% in 2018 against the backdrop of increasing demand for electric vehicles and consumer handheld appliances—the status-quo is likely to continue in 2019.
In a bid to meet the demand for lightweight and fuel efficient vehicles, automotive industry’s reliance on electronic components has increased significantly. Additionally, emergence of electric vehicles and consistent innovations to introduce improved battery performance are likely to increase demand for battery management systems in the future.
Fact.MR estimates that automotive industry continues to register a significant demand for battery management system and accounted for over two-fifth volume sales in 2018. Demand for battery management system in the energy-related applications is projected to register the second highest demand for battery management systems.
Battery management system provides an efficient energy storage system loading control strategy with improved energy utilization efficiency and optimized energy load characteristics. Further, increased emphasis on the installation of renewable energy sources across the world and development of lithium batteries with enhanced performance and lifecycle have necessitated the installation of battery management system in the power-related applications.
On the basis of components, the battery management system market study incorporates:
- Battery
- Communication Unit
Crucial insights in the battery management system market research:
- Underlying macro- and microeconomic factors impacting the growth of the battery management system market.
- Basic overview of the battery management system market, including market definition, classification, and applications.
- Scrutinization of each battery management system market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of battery management system market across various industries.
- Important regions and countries offering lucrative opportunities to battery management system market stakeholders.
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