Battery Management System (BMS) Market, by Topologies (Distributed, Modular, and Centralized), by Components (Battery Management Unit and Communication Unit), and by Verticals (Automotive (E-Vehicles (EVs, HEVs, PHEVs, BEV, Racing vehicles and Electric He

Battery Management System (BMS) Market, by Topologies (Distributed, Modular, and Centralized), by Components (Battery Management Unit and Communication Unit), and by Verticals (Automotive (E-Vehicles (EVs, HEVs, PHEVs, BEV, Racing vehicles and Electric Heavy Vehicles), Golf Cart, Medical Mobility Vehicles, E-Recreational Vehicles and Segways), Telecom, Energy (Grid, solar, wind, portable battery packs, energy storage systems, UPS), Drones, Consumer/Handheld (Power tools, vacuum cleaners, portable medical equipment and others)), and by Region (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

A battery management system (BMS) is an electronic system that maintains the optimal health of battery. This is done by monitoring battery state, controlling load environment, and balancing and charging accordingly. Moreover, battery management system several benefits such as prolonged battery life, prevention of battery damage due to voltage fluctuation and overcharging, supervising the optimal state of charging for the battery, and interfacing with the host application to deliver real-time information regarding battery health.
Increasing demand for electric vehicles in Asia Pacific region such China and India
Increasing demand for electric vehicles in emerging economies of Asia Pacific region such as China and India is expected to drive the growth of the global battery management system market over the forecast period. The battery management system offers various advantages including prolonged battery life, prevention of battery damage due to voltage fluctuation and overcharging, As per the Electric Vehicle World Sales Database, China sold around 1.3 million plug-in electric vehicles and plug-in hybrids electric vehicles in 2021, which was 62% higher than in 2017. As EVs are continuously improving and becoming more affordable, EVs are expected to account for significant market share in China by 2025. This high growth in the number of electric vehicles will create better growth opportunities for the global battery management system market in China.
However, Lack of regulated policies for developing battery management system is expected to restrain growth of the global battery management system (BMS) market over the forecast period.
Market Taxonomy
This report segments the global battery management system market on the basis of Topologies, Components, and Verticals. On the basis of Topologies, the global battery management system market is segmented into distributed, modular, and centralized. On the basis of components, the market is segmented into battery management unit and communication unit. On the basis of verticals, the market is segmented into Automotive (E-Vehicles (EVs, HEVs, PHEVs, BEV, Racing vehicles and Electric Heavy Vehicles), Golf Cart, Medical Mobility Vehicles, E-Recreational Vehicles and Segways), Telecom, Energy (Grid, solar, wind, portable battery packs, energy storage systems, UPS), Drones, Consumer/Handheld (Power tools, vacuum cleaners, portable medical equipment and others).
Key features of the study:
This report provides an in-depth analysis of the global battery management system market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global battery management system market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered as a part of this study AVL, Cummins, Inc., Johnson Matthey Battery Systems, L&T Technology Services, Lithium Balance Corporation, Merlin Equipment Ltd., Navitas System, LLC, Nuvation Engineering, The Ventec Company, Toshiba Corporation, TWS (Technology with Spirit), and Vecture Inc.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
The global battery management system market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global battery management system
Detailed Segmentation:
Global Battery Management System Market, By Topologies:
Distributed
Modular
Centralized
Global Battery Management System Market, By Components:
Battery Management Unit
Communication Unit
Global Battery Management System Market, By Verticals:
Automotive (E-Vehicles (EVs, HEVs, PHEVs, BEV, Racing vehicles and Electric Heavy Vehicles), Golf Cart, Medical Mobility Vehicles, E-Recreational Vehicles and Segways)
Telecom
Energy (Grid, solar, wind, portable battery packs, energy storage systems, UPS)
Drones
Consumer/Handheld (Power tools, vacuum cleaners, portable medical equipment and others)
Company Profiles
AVL*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
Cummins, Inc.
Johnson Matthey Battery Systems
L&T Technology Services
Lithium Balance Corporation
Merlin Equipment Ltd.
Navitas System, LLC
Nuvation Engineering
The Ventec Company
Toshiba Corporation
TWS (Technology with Spirit)
Vecture Inc.
*Browse all the market data tables and figures on "Global Battery Management System Market - Forecast to 2027”