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Global Battery Management System Market by Type (Motive & Stationary Batteries), Battery Type (Lithium-ion, Lead-acid, Nickel-based, Solid-state, Flow Batteries), Topology (Centralized, Distributed, & Modular), Application & Region - Forecast to 2029- Product Image
Global Battery Management System Market by Type (Motive & Stationary Batteries), Battery Type (Lithium-ion, Lead-acid, Nickel-based, Solid-state, Flow Batteries), Topology (Centralized, Distributed, & Modular), Application & Region - Forecast to 2029- Product Image
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Global Battery Management System Market by Type (Motive & Stationary Batteries), Battery Type (Lithium-ion, Lead-acid, Nickel-based, Solid-state, Flow Batteries), Topology (Centralized, Distributed, & Modular), Application & Region - Forecast to 2029

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    Report

  • 299 Pages
  • June 2024
  • Region: Global
  • Markets and Markets
  • ID: 4856409
Description Jump to:
The global battery management system (BMS) market is anticipated to experience robust growth, projected to surge from USD 9.1 billion in 2024 to a staggering USD 22 billion by 2029, boasting an impressive compound annual growth rate (CAGR) of 19.3% during the forecast period. BMS serves as a pivotal component in efficiently overseeing high-energy batteries, its functionalities adeptly tailored to suit the specific attributes and demands of the batteries it supervises.

This thriving market is categorized by battery type, encompassing lithium-ion, lead-acid, nickel-based batteries, and other variants. End users typically opt for the battery type best suited to their unique needs and application requirements. Notably, lithium-ion batteries enjoy widespread adoption across diverse sectors like automotive and renewable energy systems, owing to their favorable characteristics and reliable performance.

Renewable energy segment to hold a significant share of battery management system market in 2029

By 2029, the renewable energy sector is expected to wield substantial influence over the battery management system (BMS) market due to several key drivers. Firstly, governments worldwide are intensifying efforts to slash carbon emissions, leading to a surge in solar and wind power adoption. This necessitates robust energy storage solutions, where BMS plays an essential role in optimization and extension of battery lifespan.

As the energy landscape shifts towards decentralization, energy storage systems (ESS) gain traction, with BMS serving as indispensable components in managing battery charging and discharging processes for heightened efficiency. Technological advancements, notably in lithium-ion batteries, further bolster the feasibility of storing renewable energy. Government incentives and policies propel renewable energy adoption, alongside declining costs, which enhance competitiveness against traditional power generation. Collectively, these factors indicate the renewable energy sector's substantial presence in propelling the BMS market by 2029.

Lithium-ion battery type to hold highest CAGR in the forecast period

During the forecast period, lithium-ion (Li-ion) batteries are expected to experience the highest CAGR within the battery management system (BMS) market. This surge is underpinned by several key factors. Li-ion batteries have gained significant traction due to their superior energy density, extended lifespan, and reduced maintenance requirements compared to traditional battery technologies. As businesses increasingly prioritize energy efficiency and sustainability, Li-ion batteries emerge as the preferred choice for various applications, spanning from consumer electronics to electric vehicles and renewable energy storage solutions.

Continuous advancements in Li-ion battery technology, including enhancements in energy density, safety features, and cost-effectiveness, drive their widespread adoption across industries. Additionally, supportive governmental policies and initiatives aimed at promoting clean energy and electric transportation further fuel the demand for Li-ion batteries, thereby propelling the growth of the BMS market. The confluence of technological progress, favorable attributes, and regulatory support positions Li-ion batteries for continued dominance and expansion within the BMS market landscape.

Asia Pacific is expected to grow at the highest CAGR during the forecast period

Asia Pacific region expected to grow the highest CAGR within the battery management system (BMS) market, owing to the region's rapid industrialization and urbanization have spurred heightened demand for electric vehicles (EVs), renewable energy solutions, and consumer electronics, necessitating efficient energy storage solutions. Consequently, there is a burgeoning requirement for BMS to effectively manage and optimize battery performance.

Government initiatives promoting clean energy and electric mobility further amplify the adoption of BMS across the region. The presence of key players and the emergence of cutting-edge technologies, particularly in China, Japan, and South Korea, contribute significantly to market expansion. The flourishing manufacturing sector in countries like China enables the production of BMS components at competitive costs, driving further market growth. The Asia-Pacific region is well-positioned for substantial growth in the BMS market, buoyed by favorable market conditions, supportive governmental policies, technological advancements, and robust industrial development.

Breakdown of the profiles of primary participants:

  • By Company Type: Tier 1 - 45%, Tier 2 - 35%, and Tier 3 - 20%
  • By Designation: C-level Executives - 40%, Directors - 45%, and Others - 15%
  • By Region: North America - 29%, Europe - 27%, Asia Pacific - 36%, and RoW - 8%
  • Major players profiled in this report are: Sensata Technologies, Inc. (Japan), Eberspächer (Germany), Ficosa Internacional SA (Spain), AVL (Austria), and LG Energy Solution. (South Korea).

Research Coverage

This report covers the battery management system market in detail, with segmentation based on type, battery type, topology, application, and region. The type segment includes motive battery and stationary battery type. The battery types include lithium-ion, lead-acid, nickel-based batteries, and others. The topology segment includes centralized, modular, and distributed topologies. Further, automotive, industrial, renewable energy, telecommunications, military & defense, and other applications of battery management systems have been covered in this report. The market has also been segmented into four regions - North America, Asia Pacific, Europe, and RoW.

Reasons to buy the report:

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the BMS market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Growing electric vehicle (EV) sales, High demand for battery monitoring solutions in renewable energy industry, Rising need for effective power grid management, Increasing Demand for Portable Electronics), restraints (High Cost associated with integrating BMS into battery pack), opportunities (Electrification of public transportation, Rising demand for BMS in data centers, Supportive government initiatives for booting adoption of EVs, Advantages of wireless BMS over conventional BMS, Increased research and development (R&D) on battery technology) and challenges (Complex designing process, Impact of external factors on performance of BMS, Cybersecurity threats, Lack of standardization in BMS manufacturing).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the BMS market
  • Market Development: Comprehensive information about lucrative markets - the report analyses the BMS market across varied regions
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the BMS market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Sensata Technologies, Inc. (Japan), Eberspächer (Germany), Panasonic Holdings Corporation (Japan), and LG Energy Solution. (South Korea), AVL (Austria), FICOSA Internartional SA (Spain), Leclanché SA (Switzerland), Elithion (US), BMS PowerSafe (France), PowerTech Systems (France) among others

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Battery Management System Market Segmentation
1.3.2 Inclusions and Exclusions
1.3.3 Regional Scope
1.3.4 Years Considered
1.3.5 Currency Considered
1.3.6 Units Considered
1.4 Limitations
1.5 Stakeholders
1.6 Summary of Changes
1.7 Impact of Recession
2 Research Methodology
2.1 Research Data
Figure 2 Battery Management System: Process Flow of Market Size Estimation
Figure 3 Research Design
2.2 Secondary and Primary Research
Figure 4 Secondary and Primary Research
2.2.1 Secondary Data
2.2.1.1 Key Secondary Sources
2.2.1.2 Key Data from Secondary Sources
2.2.2 Primary Data
2.2.2.1 Participants for Primary Interviews
2.2.2.2 Breakdown of Primaries
2.2.2.3 Key Data from Primary Sources
2.2.2.4 Key Industry Insights
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.1.1 Approach to Derive Market Size Using Bottom-Up Analysis
Figure 5 Bottom-Up Approach
2.3.2 Top-Down Approach
2.3.2.1 Approach to Derive Market Size Using Top-Down Analysis
Figure 6 Top-Down Approach
Figure 7 Market Size Estimation Methodology: Supply-Side Analysis
2.4 Data Triangulation
Figure 8 Data Triangulation
2.5 Research Assumptions
Figure 9 Assumptions
2.6 Research Limitations
2.7 Parameters Considered to Analyze Impact of Recession on Battery Management System Market
2.8 Risk Assessment
3 Executive Summary
Figure 10 Motive Batteries Segment to Exhibit Higher CAGR During Forecast Period
Figure 11 Lithium-Ion Segment to Hold Largest Market Share in 2024
Figure 12 Automotive Segment to Register Highest CAGR Between 2024 and 2029
Figure 13 Asia-Pacific Held Largest Share of Battery Management System Market in 2023
4 Premium Insights
4.1 Attractive Opportunities for Players in Battery Management System Market
Figure 14 High Demand for Batteries in Renewable Energy Industry to Create Lucrative Opportunities for Market Players
4.2 Battery Management System Market, by Type
Figure 15 Motive Batteries Segment to Account for Larger Share of Battery Management System Market in 2029
4.3 Battery Management System Market, by Battery Type
Figure 16 Lithium-Ion Segment to Account for Largest Share of Battery Management System Market in 2029
4.4 Battery Management System Market, by Topology
Figure 17 Modular Segment to Account for Largest Share of Battery Management System Market in 2029
4.5 Battery Management System Market, by Application
Figure 18 Automotive Segment to Account for Largest Share of Battery Management System Market in 2029
4.6 Battery Management System Market in Asia-Pacific, by Country and Application
Figure 19 China and Automotive Segment to Hold Largest Shares of Asia-Pacific Battery Management System Market in 2029
4.7 Battery Management System Market, by Country
Figure 20 China to Exhibit Highest CAGR in Battery Management System Market Between 2024 and 2029
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 21 Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Growing Electric Vehicle (EV) Sales
Figure 22 Electric Vehicle (EV) Sales, by Country/Region, 2012-2023
5.2.1.2 High Demand for Battery Monitoring Solutions in Renewable Energy Industry
5.2.1.3 Rising Need for Effective Power Grid Management
5.2.1.4 Increasing Demand for Portable Electronics
Figure 23 Impact Analysis of Drivers
5.2.2 Restraints
5.2.2.1 High Cost Associated with Integrating Bms into Battery Pack
Figure 24 Impact Analysis of Restraints
5.2.3 Opportunities
5.2.3.1 Electrification of Public Transportation
5.2.3.2 Rising Demand for Bms in Data Centers
5.2.3.3 Government-Led Initiatives for Booting Adoption of EVs
5.2.3.4 Advantages of Wireless Bms Over Conventional Bms
5.2.3.5 Increased Research and Development (R&D) on Battery Technology
Figure 25 Impact Analysis of Opportunities
5.2.4 Challenges
5.2.4.1 Complex Designing Process
5.2.4.2 Impact of External Factors on Performance of Bms
5.2.4.3 Cybersecurity Threats
5.2.4.4 Lack of Standardization in Bms Manufacturing
Figure 26 Impact Analysis of Challenges
5.3 Value Chain Analysis
Figure 27 Value Chain Analysis
5.3.1 Recent Developments and Trends Shaping Battery Management System Value Chain
5.3.1.1 Decreasing Pricing Trend of Lithium-Ion Batteries
5.3.1.2 Increase in Raw Material Prices and Adoption of Alternative Battery Chemistries
5.3.1.3 Development of Bms by EV OEMs
5.3.1.4 Cell Management System and Impact
5.3.1.5 Battery Passport and Impact on Battery Value Chain
5.4 Key Functions of Bms
5.4.1 Mapping of Key Bms Semiconductor Providers, by Function
Table 1 Mapping of Key Bms Semiconductor Providers, by Function
5.4.1.1 Battery Management
5.4.1.2 Cell Balancing
5.4.1.3 Thermal Management
5.4.1.4 State of Charge (Soc)
5.4.1.5 State of Health (Soh)
5.5 Ecosystem Analysis
Figure 28 Battery Management System Ecosystem Analysis
Table 2 Roles of Companies in Battery Management System Ecosystem
5.6 Pricing Analysis
5.6.1 Indicative Pricing Trend of Key Players, by Application
Figure 29 Indicative Pricing Trend of Bms Offered by Key Players, by Application (USD)
Table 3 Indicative Pricing Trend of Bms Offered by Key Players, by Automotive Application (USD)
5.6.2 Average Selling Price (ASP) Trend
Figure 30 Average Selling Price (ASP) Trend of Bms, 2020-2023 (USD)
5.6.3 Average Selling Price (ASP) Trend, by Region
Table 4 Average Selling Price (ASP) of Bms, by Region (USD)
Figure 31 Average Selling Price (ASP) Trend of Bms, by Region, 2020-2023 (USD)
5.7 Investment/Funding Scenario
Figure 32 Investment/Funding Scenario, 2018-2023 (USD Billion)
5.8 Trends/Disruptions Impacting Customers’ Businesses
Figure 33 Trends/Disruptions Impacting Customers’ Businesses
5.9 Technology Analysis
5.9.1 Key Technologies
5.9.1.1 Solid-State Batteries (Ssbs)
5.9.1.2 Artificial Intelligence (AI)
5.9.1.3 Digital Twin
5.9.2 Complementary Technologies
5.9.2.1 Thermal Management Systems
5.9.2.2 Power Electronics
5.9.3 Adjacent Technologies
5.9.3.1 Vehicle-To-Grid (V2G) Technology
5.9.3.2 Cloud Computing
5.10 Porter's Five Forces Analysis
Table 5 Battery Management System Market: Porter's Five Forces Analysis
Figure 34 Porter's Five Forces Analysis
5.10.1 Threat of New Entrants
5.10.2 Threat of Substitutes
5.10.3 Bargaining Power of Suppliers
5.10.4 Bargaining Power of Buyers
5.10.5 Intensity of Competitive Rivalry
5.11 Key Stakeholders and Buying Criteria
5.11.1 Key Stakeholders in Buying Process
Figure 35 Influence of Stakeholders on Buying Process, by Application
Table 6 Influence of Stakeholders on Buying Process, by Application (%)
5.11.2 Buying Criteria
Figure 36 Key Buying Criteria, by Application
Table 7 Key Buying Criteria, by Application
5.12 Case Study Analysis
5.12.1 Tata Elxsi Collaborated with Renesas Electronics to Establish Next-Generation EV Innovation Center (Nevic)
5.12.2 Tesla Developed Distributed Bms Design by Incorporating Regional Slave Modules and Centralized Controller
5.12.3 Tesla Powerwall Exemplified Effective Residential Energy Storage with Advanced Bms
5.12.4 Nissan Undertook Strategic Initiatives to Mitigate Battery Deterioration Concerns
5.13 Trade Analysis
5.13.1 Import Scenario (HS Code 850650)
Figure 37 Import Data for HS Code 850650-Compliant Products, by Country, 2019-2023 (USD Million)
5.13.2 Export Scenario (HS Code 850650)
Figure 38 Export Data for HS Code 850650-Compliant Products, by Country, 2019-2023 (USD Million)
5.14 Patent Analysis
Figure 39 Companies with Highest Number of Patent Applications Related to Bmss
Table 8 Battery Management System Market: Top 20 Patent Owners, 2014-2023
Figure 40 Number of Patents Granted Per Year, 2014-2023
Table 9 Battery Management System Market: List of Patents, 2021-2024
5.15 Key Conferences and Events, 2024-2025
Table 10 Battery Management System Market: List of Key Conferences and Events, 2024-2025
5.16 Standards and Regulatory Landscape
5.16.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 13 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 14 RoW: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.16.2 Standards
Table 15 Standards Related to Bms
5.16.3 Regulations
5.16.3.1 North America
5.16.3.1.1 US
5.16.3.1.2 Canada
5.16.3.2 Europe
5.16.3.2.1 European Union
5.16.3.2.2 Germany
5.16.3.2.3 UK
5.16.3.3 Asia-Pacific
5.16.3.3.1 China
5.16.3.3.2 India
5.16.3.3.3 Japan
5.16.3.4 RoW
5.16.3.4.1 Brazil
5.16.3.4.2 Kenya
6 Components of Battery Management Systems
6.1 Introduction
Figure 41 Battery Management System Market, by Component
6.2 Hardware
6.2.1 Battery Control Units
6.2.2 Power Management Components
6.2.3 Cooling System Components (Fans and Pumps)
6.2.4 Communication Components
6.3 Software
7 Different Battery Management System Types
7.1 Introduction
Figure 42 Battery Management System Market, by System Type
7.2 Standalone Bms
7.3 Integrated Bms
8 Battery Management System Market, by Type
8.1 Introduction
Figure 43 Battery Management System Market, by Type
Figure 44 Motive Batteries Segment to Hold Largest Market Share in 2029
Table 16 Battery Management System Market, by Type, 2020-2023 (USD Million)
Table 17 Battery Management System Market, by Type, 2024-2029 (USD Million)
8.2 Motive Batteries
8.2.1 Increasing Demand in Automotive Sector to Drive Market
Table 18 Motive Batteries: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 19 Motive Batteries: Battery Management System Market, by Region, 2024-2029 (USD Million)
8.3 Stationary Batteries
8.3.1 High Use in Energy Storage Applications to Fuel Market Growth
Table 20 Stationary Batteries: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 21 Stationary Batteries: Battery Management System Market, by Region, 2024-2029 (USD Million)
9 Battery Management System Market, by Battery Type
9.1 Introduction
Figure 45 Battery Management System Market, by Battery Type
Figure 46 Lithium-Ion Segment to Hold Largest Market Share in 2029
Table 22 Battery Management System Market, by Battery Type, 2020-2023 (USD Million)
Table 23 Battery Management System Market, by Battery Type, 2024-2029 (USD Million)
9.2 Lithium-Ion
9.2.1 Increasing Global EV Demand to Drive Market
Table 24 Comparison Between Lithium-Ion and Lead-Acid Batteries
Table 25 Lithium-Ion: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 26 Lithium-Ion: Battery Management System Market, by Region, 2024-2029 (USD Million)
9.3 Lead-Acid
9.3.1 High Demand in Renewable Energy Industry to Drive Market
Table 27 Lead-Acid: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 28 Lead-Acid: Battery Management System Market, by Region, 2024-2029 (USD Million)
9.4 Nickel-based
9.4.1 Extensive Use in Automotive Sector to Fuel Market Growth
Table 29 Nickel-based: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 30 Nickel-based: Battery Management System Market, by Region, 2024-2029 (USD Million)
9.5 Other Battery Types
9.5.1 Solid-State Batteries
9.5.2 Flow Batteries
Table 31 Other Battery Types: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 32 Other Battery Types: Battery Management System Market, by Region, 2024-2029 (USD Million)
10 Battery Management System Market, by Topology
10.1 Introduction
Figure 47 Battery Management System Market, by Topology
Figure 48 Modular Segment to Hold Largest Market Share in 2029
Table 33 Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 34 Battery Management System Market, by Topology, 2024-2029 (USD Million)
10.2 Modular
10.2.1 High Computational Power and Enhanced Safety to Drive Demand
Table 35 Modular Topology: Advantages and Disadvantages
Figure 49 Typical Structure of Modular Bms
Table 36 Modular: Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 37 Modular: Battery Management System Market, by Application, 2024-2029 (USD Million)
Table 38 Modular: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 39 Modular: Battery Management System Market, by Region, 2024-2029 (USD Million)
10.3 Centralized
10.3.1 Rising Use in Medium Power Applications to Fuel Market Growth
Table 40 Centralized Topology: Advantages and Disadvantages
Figure 50 Typical Structure of Centralized Bms
Table 41 Centralized: Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 42 Centralized: Battery Management System Market, by Application, 2024-2029 (USD Million)
Table 43 Centralized: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 44 Centralized: Battery Management System Market, by Region, 2024-2029 (USD Million)
10.4 Distributed
10.4.1 Simple Design and High Reliability to Drive Demand
Table 45 Distributed Topology: Advantages and Disadvantages
Figure 51 Typical Structure of Distributed Bms
Table 46 Distributed: Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 47 Distributed: Battery Management System Market, by Application, 2024-2029 (USD Million)
Table 48 Distributed: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 49 Distributed: Battery Management System Market, by Region, 2024-2029 (USD Million)
11 Battery Management System Market, by Application
11.1 Introduction
Figure 52 Battery Management System Market, by Application
Figure 53 Automotive Segment to Hold Largest Market Share in 2029
Table 50 Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 51 Battery Management System Market, by Application, 2024-2029 (USD Million)
11.2 Automotive
11.2.1 Growing Preference for EVs to Drive Market
11.2.1.1 Passenger Vehicles
11.2.1.1.1 Battery Electric Vehicles (BEVs)
11.2.1.1.2 Plug-In Hybrid Electric Vehicles (PHEVs)
11.2.1.2 Commercial Vehicles (Cevs)
11.2.1.3 Other Vehicles
Table 52 Automotive: Battery Management System Market, 2020-2023 (Millon Units)
Table 53 Automotive: Battery Management System Market, 2024-2029 (Million Units)
Table 54 Automotive: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 55 Automotive: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 56 Automotive: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 57 Automotive: Battery Management System Market, by Region, 2024-2029 (USD Million)
11.3 Industrial
11.3.1 Increased Demand for Electric-Powered Equipment to Fuel Market Growth
Table 58 Industrial: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 59 Industrial: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 60 Industrial: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 61 Industrial: Battery Management System Market, by Region, 2024-2029 (USD Million)
11.4 Renewable Energy
11.4.1 High Adoption of Renewable Energy Sources to Drive Market
Table 62 Renewable Energy: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 63 Renewable Energy: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 64 Renewable Energy: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 65 Renewable Energy: Battery Management System Market, by Region, 2024-2029 (USD Million)
11.5 Telecommunications
11.5.1 Increased Investments in Telecommunication Infrastructure Development to Fuel Demand
Table 66 Telecommunications: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 67 Telecommunications: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 68 Telecommunications: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 69 Telecommunications: Battery Management System Market, by Region, 2024-2029 (USD Million)
11.6 Other Applications
Table 70 Other Applications: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 71 Other Applications: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 72 Other Applications: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 73 Other Applications: Battery Management System Market, by Region, 2024-2029 (USD Million)
12 Battery Management System Market, by Region
12.1 Introduction
Figure 54 Battery Management System Market, by Region
Figure 55 Germany and China to be Major Markets for Battery Management Systems by 2029
Table 74 Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 75 Battery Management System Market, by Region, 2024-2029 (USD Million)
12.2 North America
12.2.1 Impact of Recession on Battery Management System Market in North America
Figure 56 North America: Battery Management System Market Snapshot
Table 76 North America: Battery Management System Market, by Country, 2020-2023 (USD Million)
Table 77 North America: Battery Management System Market, by Country, 2024-2029 (USD Million)
Table 78 North America: Battery Management System Market, by Type, 2020-2023 (USD Million)
Table 79 North America: Battery Management System Market, by Type, 2024-2029 (USD Million)
Table 80 North America: Battery Management System Market, by Battery Type, 2020-2023 (USD Million)
Table 81 North America: Battery Management System Market, by Battery Type, 2024-2029 (USD Million)
Table 82 North America: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 83 North America: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 84 North America: Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 85 North America: Battery Management System Market, by Application, 2024-2029 (USD Million)
12.2.2 US
12.2.2.1 Increased Investments in Battery Manufacturing to Drive Market
12.2.3 Canada
12.2.3.1 Rising Focus on Strengthening Battery Supply Chain to Fuel Market Growth
12.2.4 Mexico
12.2.4.1 Expanding Manufacturing Sector to Drive Market
12.3 Europe
12.3.1 Impact of Recession on Battery Management System Market in Europe
Figure 57 Europe: Battery Management System Market Snapshot
Table 86 Europe: Battery Management System Market, by Country, 2020-2023 (USD Million)
Table 87 Europe: Battery Management System Market, by Country, 2024-2029 (USD Million)
Table 88 Europe: Battery Management System Market, by Type, 2020-2023 (USD Million)
Table 89 Europe: Battery Management System Market, by Type, 2024-2029 (USD Million)
Table 90 Europe: Battery Management System Market, by Battery Type, 2020-2023 (USD Million)
Table 91 Europe: Battery Management System Market, by Battery Type, 2024-2029 (USD Million)
Table 92 Europe: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 93 Europe: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 94 Europe: Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 95 Europe: Battery Management System Market, by Application, 2024-2029 (USD Million)
12.3.2 Germany
12.3.2.1 Presence of Prominent Automakers to Drive Demand
12.3.3 France
12.3.3.1 Favorable Government Initiatives and Investments in Battery Research and Innovations to Drive Market
12.3.4 UK
12.3.4.1 Increasing Focus on Electrification of Transportation Services to Drive Market
12.3.5 Rest of Europe
12.4 Asia-Pacific
12.4.1 Impact of Recession on Battery Management System Market in Asia-Pacific
Figure 58 Asia-Pacific: Battery Management System Market Snapshot
Table 96 Asia-Pacific: Battery Management System Market, by Country, 2020-2023 (USD Million)
Table 97 Asia-Pacific: Battery Management System Market, by Country, 2024-2029 (USD Million)
Table 98 Asia-Pacific: Battery Management System Market, by Type, 2020-2023 (USD Million)
Table 99 Asia-Pacific: Battery Management System Market, by Type, 2024-2029 (USD Million)
Table 100 Asia-Pacific: Battery Management System Market, by Battery Type, 2020-2023 (USD Million)
Table 101 Asia-Pacific: Battery Management System Market, by Battery Type, 2024-2029 (USD Million)
Table 102 Asia-Pacific: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 103 Asia-Pacific: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 104 Asia-Pacific: Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 105 Asia-Pacific: Battery Management System Market, by Application, 2024-2029 (USD Million)
12.4.2 China
12.4.2.1 High Demand for EVs to Fuel Market Growth
12.4.3 Japan
12.4.3.1 Large-Scale Domestic Battery Production to Drive Market
12.4.4 India
12.4.4.1 Advancements in EV Industry to Propel Market
12.4.5 South Korea
12.4.5.1 Government Subsidies for EV and Battery Manufacturers to Drive Market
12.4.6 Rest of Asia-Pacific
12.5 RoW
12.5.1 Impact of Recession on Battery Management System Market in RoW
Figure 59 South America to Hold Major Share of RoW Market in 2029
Table 106 RoW: Battery Management System Market, by Country, 2020-2023 (USD Million)
Table 107 RoW: Battery Management System Market, by Country, 2024-2029 (USD Million)
Table 108 RoW: Battery Management System Market, by Type, 2020-2023 (USD Million)
Table 109 RoW: Battery Management System Market, by Type, 2024-2029 (USD Million)
Table 110 RoW: Battery Management System Market, by Battery Type, 2020-2023 (USD Million)
Table 111 RoW: Battery Management System Market, by Battery Type, 2024-2029 (USD Million)
Table 112 RoW: Battery Management System Market, by Topology, 2020-2023 (USD Million)
Table 113 RoW: Battery Management System Market, by Topology, 2024-2029 (USD Million)
Table 114 RoW: Battery Management System Market, by Application, 2020-2023 (USD Million)
Table 115 RoW: Battery Management System Market, by Application, 2024-2029 (USD Million)
12.5.2 Middle East
12.5.2.1 Increased Funding for Renewable Energy Sources to Drive Market
Table 116 Middle East: Battery Management System Market, by Region, 2020-2023 (USD Million)
Table 117 Middle East: Battery Management System Market, by Region, 2024-2029 (USD Million)
12.5.3 Africa
12.5.3.1 Large-Scale Lithium Reserves to Fuel Market Growth
12.5.4 South America
12.5.4.1 Emergence as Manufacturing Hub and Foreign Investment Destination to Drive Demand
13 Competitive Landscape
13.1 Overview
13.2 Key Strengths/Right to Win, 2020-2024
Table 118 Battery Management System Market: Strategies Adopted by Key Players, 2020-2024
13.3 Revenue Analysis, 2018-2022
Figure 60 Revenue Analysis of Five Key Players, 2018-2022
13.4 Market Share Analysis, 2023
Table 119 Battery Management System Market: Degree of Competition, 2023
Figure 61 Battery Management System Market Share Analysis, 2023
13.5 Company Valuation and Financial Metrics, 2024
Figure 62 Company Valuation, 2024 (USD Million)
13.6 Brand/Product Comparison
13.7 Company Evaluation Matrix: Key Players, 2023
13.7.1 Stars
13.7.2 Emerging Leaders
13.7.3 Pervasive Players
13.7.4 Participants
Figure 65 Battery Management System Market: Company Evaluation Matrix (Key Players), 2023
13.7.5 Company Footprint: Key Players, 2023
13.7.5.1 Company Footprint
Figure 66 Company Footprint
13.7.5.2 Application Footprint
Table 120 Battery Management System Market: Application Footprint
13.7.5.3 Battery Type Footprint
Table 121 Battery Management System Market: Battery Type Footprint
13.7.5.4 Type Footprint
Table 122 Battery Management System Market: Type Footprint
13.7.5.5 Region Footprint
Table 123 Battery Management System Market: Region Footprint
13.8 Company Evaluation Matrix: Start-Ups/SMEs, 2023
13.8.1 Progressive Companies
13.8.2 Responsive Companies
13.8.3 Dynamic Companies
13.8.4 Starting Blocks
Figure 67 Battery Management System Market: Company Evaluation Matrix (Start-Ups/SMEs), 2023
13.8.5 Competitive Benchmarking: Start-Ups/SMEs, 2023
13.8.5.1 Detailed List of Key Start-Ups/SMEs
Table 124 Battery Management System Market: Detailed List of Key Start-Ups/SMEs
13.8.5.2 Competitive Benchmarking of Key Start-Ups/SMEs
Table 125 Battery Management System Market: Competitive Benchmarking of Key Start-Ups/SMEs
13.9 Competitive Scenarios and Trends
13.9.1 Product Launches
Table 126 Battery Management System Market: Product Launches, January 2020-May 2024
13.9.2 Deals
Table 127 Battery Management System Market: Deals, January 2020-May 2024
13.10 List of Additional Bms and Related Start-Ups/SMEs
Table 128 Battery Management System Market: List of Additional Start-Ups/SMEs
14 Company Profiles
14.1 Key Players
(Business Overview, Products Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
14.1.1 Eberspächer
Table 129 Eberspächer: Company Overview
Figure 68 Eberspächer: Company Snapshot
Table 130 Eberspächer: Products/Solutions/Services Offered
Table 131 Eberspächer: Product Launches
14.1.2 Sensata Technologies, Inc.
Table 132 Sensata Technologies, Inc.: Company Overview
Figure 69 Sensata Technologies, Inc.: Company Snapshot
Table 133 Sensata Technologies, Inc.: Products/Solutions/Services Offered
Table 134 Sensata Technologies, Inc.: Product Launches
Table 135 Sensata Technologies, Inc.: Deals
Table 136 Sensata Technologies, Inc.: Expansions
14.1.3 Lg Energy Solution.
Table 137 Lg Energy Solution.: Company Overview
Figure 70 Lg Energy Solution.: Company Snapshot
Table 138 Lg Energy Solution.: Products/Solutions/Services Offered
Table 139 Lg Energy Solution.: Deals
Table 140 Lg Energy Solution.: Expansions
14.1.4 Avl
Table 141 Avl: Company Overview
Table 142 Avl: Products/Solutions/Services Offered
Table 143 Avl: Expansions
14.1.5 Ficosa Internacional SA
Table 144 Ficosa Internacional SA: Company Overview
Table 145 Ficosa Internacional SA: Products/Solutions/Services Offered
14.1.6 Panasonic Holdings Corporation
Table 146 Panasonic Holdings Corporation: Company Overview
Figure 71 Panasonic Holdings Corporation: Company Snapshot
Table 147 Panasonic Holdings Corporation: Products/Solutions/Services Offered
Table 148 Panasonic Holdings Corporation: Product Launches
14.1.7 Renesas Electronics Corporation
Table 149 Renesas Electronics Corporation: Company Overview
Figure 72 Renesas Electronics Corporation: Company Snapshot
Table 150 Renesas Electronics Corporation: Products/Solutions/Services Offered
Table 151 Renesas Electronics Corporation: Product Launches
Table 152 Renesas Electronics Corporation: Deals
14.1.8 Texas Instruments Incorporated
Table 153 Texas Instruments Incorporated: Company Overview
Figure 73 Texas Instruments Incorporated: Company Snapshot
Table 154 Texas Instruments Incorporated: Products/Solutions/Services Offered
Table 155 Texas Instruments Incorporated: Product Launches
Table 156 Texas Instruments Incorporated: Expansions
14.1.9 Analog Devices, Inc.
Table 157 Analog Devices, Inc.: Company Overview
Figure 74 Analog Devices, Inc.: Company Snapshot
Table 158 Analog Devices, Inc.: Products/Solutions/Services Offered
Table 159 Analog Devices, Inc.: Product Launches
Table 160 Analog Devices, Inc.: Deals
14.1.10 Infineon Technologies AG
Table 161 Infineon Technologies AG: Company Overview
Figure 75 Infineon Technologies AG: Company Snapshot
Table 162 Infineon Technologies AG: Products/Solutions/Services Offered
Table 163 Infineon Technologies AG: Product Launches
Table 164 Infineon Technologies AG: Deals
14.1.11 Nxp Semiconductors
Table 165 Nxp Semiconductors: Company Overview
Figure 76 Nxp Semiconductors: Company Snapshot
Table 166 Nxp Semiconductors: Products/Solutions/Services Offered
Table 167 Nxp Semiconductors: Product Launches
Table 168 Nxp Semiconductors: Deals
14.1.12 Stmicroelectronics
Table 169 Stmicroelectronics: Company Overview
Figure 77 Stmicroelectronics: Company Snapshot
Table 170 Stmicroelectronics: Products/Solutions/Services Offered
Table 171 Stmicroelectronics: Product Launches
14.2 Other Players
14.2.1 Contemporary Amperex Technology Co. Limited.
14.2.2 Byd Company Limited.
14.2.3 Sk Innovation Co. Ltd.
14.2.4 Bms Powersafe
14.2.5 Elithion, Inc.
14.2.6 Ewert Energy Systems, Inc.
14.2.7 Exponential Power
14.2.8 Futavis GmbH
14.2.9 Hangzhou Xieneng Technology Co. Ltd.
14.2.10 Leclanché SA
14.2.11 Nuvation Energy
14.2.12 Powertech Systems
14.2.13 Ricardo
14.2.14 Nidec Motor Corporation
14.2.15 Tronico
14.2.16 Xing Mobility
*Details on Business Overview, Products Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) Might Not be Captured in Case of Unlisted Companies
15 Adjacent Market
15.1 Nickel Cadmium Battery Market
15.1.1 Introduction
Table 172 Nickel Cadmium Battery Market, by Type, 2018-2021 (USD Million)
Table 173 Nickel Cadmium Battery Market, by Type, 2022-2027 (USD Million)
15.1.2 C Batteries
15.1.2.1 Rising Demand in Industrial Applications to Drive Market
Table 174 C Batteries: Nickel Cadmium Battery Market, by Region, 2018-2021 (USD Million)
Table 175 C Batteries: Nickel Cadmium Battery Market, by Region, 2022-2027 (USD Million)
15.1.3 D Batteries
15.1.3.1 High-Capacity Range of D-Type Batteries to Drive Market
Table 176 D Batteries: Nickel Cadmium Battery Market, by Region, 2018-2021 (USD Million)
Table 177 D Batteries: Nickel Cadmium Battery Market, by Region, 2022-2027 (USD Million)
15.1.4 A Batteries
15.1.4.1 Rising Usage of A-Type Batteries in Consumer Electronic Devices to Fuel Market Growth
Table 178 A Batteries: Nickel Cadmium Battery Market, by Region, 2018-2021 (USD Million)
Table 179 A Batteries: Nickel Cadmium Battery Market, by Region, 2022-2027 (USD Million)
15.1.5 Aa Batteries
15.1.5.1 Increasing Adoption of Aa Batteries in Industrial Applications to Drive Market
Table 180 Aa Batteries: Nickel Cadmium Battery Market, by Region, 2018-2021 (USD Million)
Table 181 Aa Batteries: Nickel Cadmium Battery Market, by Region, 2022-2027 (USD Million)
15.1.6 Aaa Batteries
15.1.6.1 Rising Trend of Compact and Small-Sized Electronics to Propel Market
Table 182 Aaa Batteries: Nickel Cadmium Battery Market, by Region, 2018-2021 (USD Million)
Table 183 Aaa Batteries: Nickel Cadmium Battery Market, by Region, 2022-2027 (USD Million)
15.1.7 9 V Batteries
15.1.7.1 Growing Adoption of 9V Batteries in High-Drain Devices to Drive Market
Table 184 9 V Batteries: Nickel Cadmium Battery Market, by Region, 2018-2021 (USD Million)
Table 185 9 V Batteries: Nickel Cadmium Battery Market, by Region, 2022-2027 (USD Million)
16 Appendix
16.1 Discussion Guide
16.2 Knowledgestore: The Subscription Portal
16.3 Customization Options

Companies Mentioned

  • Eberspächer
  • Sensata Technologies, Inc.
  • Lg Energy Solution.
  • Avl
  • Ficosa Internacional SA
  • Panasonic Holdings Corporation
  • Renesas Electronics Corporation
  • Texas Instruments Incorporated
  • Analog Devices, Inc.
  • Infineon Technologies AG
  • Nxp Semiconductors
  • Stmicroelectronics
  • Contemporary Amperex Technology Co. Limited.
  • Byd Company Limited.
  • Sk Innovation Co. Ltd.
  • Bms Powersafe
  • Elithion, Inc.
  • Ewert Energy Systems, Inc.
  • Exponential Power
  • Futavis GmbH
  • Hangzhou Xieneng Technology Co. Ltd.
  • Leclanché SA
  • Nuvation Energy
  • Powertech Systems
  • Ricardo
  • Nidec Motor Corporation
  • Tronico
  • Xing Mobility

Methodology

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Table Information

Report AttributeDetails
No. of Pages299
PublishedJune 2024
Forecast Period2024 - 2029
Estimated Market Value ( USD ) in 2024 $ 9.1 Billion
Forecasted Market Value ( USD ) by 2029 $ 22 Billion
Compound Annual Growth Rate19.3%
Regions CoveredGlobal
No. of Companies Mentioned28

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