New York, United States, Aug. 24, 2022 (GLOBE NEWSWIRE) — A BMS/Battery Management System is an electrically monitored regulator that adequately monitors & controls the discharging and charging facilities of the rechargeable batteries. A steep surge in demand for renewable energies, Evs, and a rise in usage of rechargeable batteries are accelerating the market growth forward.
Key pointers of the Battery Management System Market:
- The Lithium Ion battery segment held the highest percentage of around 78.31% of the market’s entire share for Battery Type.
- The centralized type segment of the Topology section dominated with a share value of 43.31%.
- The Automotive sector of the Application segment led the market growth with a 34.17% share.
- For the Regional segment is concerned, Asia-Pacific led the market with a share percentage of 52.38%.
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Some prominent factors driving the Battery Management Market growth:
(Rise in the usage of renewable energies, increase in need for Evs worldwide, demand for rechargeable batteries, etc.)
- Since the last decade, there has been robust growth in the rate of usage of renewable sources of energy. Eurostat has reported that in Europe, renewable energy usage has surged up to 22%, which is around 2% higher than the desired target of 2020. In the European transportation sector, the energy share from renewable sources surpassed a landmark of 10.21% in 2020. It also stated that in Deutschland, renewable energies provided around 41.13% of the total energy demand in 2021.
- Further, the growing demand for the Evs and rechargeable batteries are efficiently fostering the growth rate of the market. SMR’s research study deciphered that the worldwide E.V. sales rate surged by 43.21% in 2020 compared to the previous year. Also, it was discovered that in 2021, there were around 6.75 million Evs sold worldwide.
Battery Management Market: Segment Analytics
The worldwide Battery Management Market is segregated into Battery Type, Application, Topology, & Geography.
- Flow batteries
- Consumer Electronics
- Military & Defence
- Medical & Healthcare
- Renewable Energy Systems
- United States
- Rest of North America
Territory of Asia-Pacific
- South Korea
- New Zealand
- Rest of Asia-Pacific
Continent of Europe
- United Kingdom
- Rest of Europe
The Middle-East, & African territory
- South Africa
- Saudi Arabia
- The rest continental landmass of LAMEA
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|Forecast Period 2021 to 2028 CAGR||21.2%|
|2030 Value Projection||USD 35.79 Billion|
|Market Size in 2021||USD 6.41 Billion|
|Historical Data for||2015-2019|
|No. of Pages||135|
|Companies||Leclanche (Switzerland),Toshiba Corporation (Japan),Robert Bosch GmbH (Germany),Panasonic Corporation (Japan),Midtronics Inc. (US),ST Microelectronics,Deutz AG ( Germany),Nuvation (US),Eberspächer (Germany),Texas Instruments Inc (USA),ElithionInc (USA)|
|Leading Segment Based By Battery Type||
Lithium – Ion, Advanced Lead – Acid, Nickel based, Flow Batteries
‘Lithium Ion battery’ segment held the highest percentage of around 78.31% of the market’s entire share for Battery Type owing to a substantial rise in usage of portable devices, like tablets, mobile phones, Bluetooth devices, etc.Research conducted by SMR figured out that in mobiles, tablets, etc. Li-ion batteries can be discharged to 20% SoC. After operating through a certain no of life cycles, the battery will automatically start to operate above 60% of its original capacity.
‘Centralized’ type segment of the Topology section dominated with a share value of 43.31%. The Centralized type of BMS is a much compact and less complicated solution compared to other types of topology. Moreover, this solution is the most economical type as it consists of a single BMS.
The Automotive sector of the Application segment led the market growth with a 34.17% share as the requirement for rechargeable batteries is increasing continuously due to the rise in the number of Electric Vehicles.
For the Regional segment, Asia-Pacific led the market with a share percentage of 52.38%, followed by North-America (nearly 22.31%) & Europe (approx. 18.73%).
China produces the most number of Li-Ion batteries in the entire world. In 2021, China produced nearly 79.21% of the total Li-ion batteries worldwide. Moreover, Australia held the second-highest position in Li-Ion battery reserves worldwide in 2021 (i.e., around 2.7 million tonnes).
List of prominent organizations in the BMS/Battery Management System Market:
- Leclanche (Switzerland)
- Toshiba Corp. (Japan)
- Robert Bosch (Germany)
- Midtronics (U.S.)
- S.T. Microelectronics
- Deutz A.G. ( Germany)
- Eberspächer (Germany)
- Texas Instruments (USA)
- Elithion (USA)
- Panasonic Corp. (Japan)
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- On 23rd August 2022, Zitara, a San-Francisco-based organization, raised a fund of around USD 12 Million for developing some highly-advanced technologies to ensure the safety and security of its Li-Ion batteries. Zitara is planning to build a cloud-embedded software for the improvisation of reliability, safety, and lifespan of the batteries. Moreover, the Zitara Li-Ion batteries inculcate a vast range of applications like Evs, micro-mobility, consumer electronics, etc.
- On 23rd August 2022, American-Battery Solutions launched TeraStor, a new large-scale ESS platform. It is a highly-advanced Li-Ion battery storage system integrated with the EMS software that will be used for the optimization of the performance of lithium-ion batteries. TeraStor has an energy storage capacity of nearly 7.2 Megawatt hours and an inverter capacity range of approximately 3.50 Megawatts.
- On 2nd August 2022, Nikola announced that it is planning to acquire Romeo Power for enhancing the work of in-house production of batteries. Nikola also elucidated that this acquisition will improve the operational efficacy of the battery-pack production and will also reduce the costs of these packs extensively. This initiative will, in turn, provide some adequate solutions for some complicated applications of the commercial Evs.
- On 1st August 2022, LHP, a U.S.-based organization, introduced a new BMS training program for efficiently operating the technologically advanced Evs and energy storage systems in the future. The aim of introducing this new BMS training program is to ensure that the industry people are thoroughly equipped with the adequate skills that are required for commercializing next-generation ESS (Energy-Storage System) and Electric Vehicles.
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