Battery Management System Market Segmentation and Analysis by Recent Trends and Development 2025

Posted on 2021-04-09 by researchinsights in Energy // 0 Comments

Felton, California , USA, Apr 09, 2021 — /EPR Network/ —

The global Battery Management System Market size is expected to value at USD 11.17 billion by 2025. The battery management system industry is subject to witness a substantial growth due to the growing industrialization, mainly in manufacturing industry, and rise in need for high performance electronic devices. Additionally, current trend of renewable energy generation & management, which is driven by the rising concerns related to climate change around the globe, is expected to positively affect market growth over the next seven years.

Reduction in the cost of solar photovoltaic cells coupled with favorable government incentives and decline in cost of batteries are likely to increase the renewable energy generation, thus propelling market demand for smart battery management system. Globally, the battery management system (BMS) market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the battery management system.

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BMS Battery Type Outlook (Revenue, USD Million, 2014 – 2025)

Lithium-ion based
Nickel based
Lead-acid based
Flow batteries

BMS Topology Outlook (Revenue, USD Million, 2014 – 2025)

Centralized
Distributed
Modular

BMS Application Outlook (Revenue, USD Million, 2014 – 2025)

Automotive
Consumer electronics
Energy
Defense

The key players in the battery management systems industry are Johnson Matthey plc, Nuvation Engineering Co., Valence Technology, Inc., and Linear Technology Co.

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The battery management system (BMS) industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the automotive sector, consumer electronics, and energy & power industry, increase in the number of research & development activities in the region, and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the battery management system market with massive growth in forecast period.

Countries such as India, China and Singapore are leading the Asia-Pacific market with shifting trends towards adoption of renewable energy generation, strong economic growth in the region, rapid growth of automotive industry, favorable laws & regulations, and significant investment by leading industry players considering potential growth opportunities in the region.

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