Battery Management System Market

Battery Management System Market by Battery Type (Lithium Ion, Advanced Lead-acid), Topology (Centralized, Modular, Distributed), Type, Application (Automotive, UPS, Telecommunications, Renewable Energy Systems), and Geography - Global Forecast to 2024

Report Code: SE 4338 Nov, 2019, by marketsandmarkets.com

The global battery management system market size is estimated to grow from USD 5.2 billion in 2019 to USD 12.6 billion by 2024, at a CAGR of 19.5%. The growth of this market is expected to be driven by the growing trend of electric vehicles, increasing requirement of battery monitoring in renewable energy systems, and need for effective electric grid management. The report covers the market segmented into battery type, type, topology, application, and geography.

Battery Management System Market

Market for other battery segment to grow at highest rate during forecast period

Based on battery type, the other battery segment is expected to grow at the highest rate during the forecast period. The high capacity and ability of flow batteries to withstand extreme temperatures make them suitable for applications such as renewable energy systems and UPS. Nickel-metal batteries have high energy density although they are secondary batteries in which environmentally friendly metals are used. These batteries find applications in electric vehicles, portable devices, smart grids, UPS, and others. Solid-state batteries are better than conventional batteries as they are non-flammable, have a long shelf life, are safe, and release high energy.

Modular topology to witness highest CAGR during forecast period

Based on topology, the modular topology segment of the battery management system market is expected to grow at the highest rate during the forecast period. Most of the manufacturers prefer modular topology as it offers significant computational power and is also safe as it does not require extensive wire harnesses. Modular topology is also suitable for a range of applications such as in energy storage systems, industrial UPS, medical mobility vehicles, parts of electric vehicles, and drones. Moreover, the increasing demand for modular topology from these applications is expected to drive the market at the highest rate from 2019 to 2024.

Battery Management System Market

Europe to dominate battery management system market during forecast period

Europe dominated the battery management system market in 2018. Europe is home to a few major battery manufacturers such as Saft (France) and FIAMM (Italy). The automobile industry of Europe is an advanced industry with the leanest production processes where the use of water and energy is optimized. The demand for battery management systems is attributed to the presence of manufacturing facilities of major automotive manufacturers such as the BMW Group (Germany), Daimler (Germany), and Volkswagen (Germany).

Key Market Players

Leclanche (Switzerland), Lithium Balance (Denmark), Nuvation Engineering (US), Eberspaecher Vecture (Canada), Storage Battery Systems (US), and Johnson Matthey (UK), among others, are the major players operating in battery management system market.

Leclanche (Switzerland) is largely involved in offering energy storage solutions, mainly dealing with lithium-ion cell technology aiming for cleaner energy. The company offers specialty battery systems, stationary solutions, e-transport solutions and battery, and energy management systems. The company offers in-house battery management systems by partnering with a hardware company. The company is substantially involved in offering BMS technologies and suites of BMS software. The products offered by the company are either high voltage or low voltage battery management systems. These BMS are manufactured by the company as per the industry standards. All the BMS delivered by the company are either single board or master–slave architecture. These BMSs typically provide safety against conditions such as exceeding the voltage, current or temperature level, or short circuit issues that can affect the performance of battery as well as its life. The communication of these BMSs can occur through RS485 and CAN ports.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

Battery type, Topology, Type, Application, and Region

Geographies covered

North America, Europe, APAC, and RoW

Companies covered

Leclanche (Switzerland), Lithium Balance (Denmark), Nuvation Engineering (US), Eberspaecher Vecture (Canada), Storage Battery Systems (US), and Johnson Matthey (UK), among other players. A total of 25 major players covered.

In this report, the battery management system market has been segmented into the following categories:

By Battery Type:

  • Lithium Ion
  • Advanced Lead-Acid
  • Others

By Type

  • Motive Battery
  • Stationary Battery

By Topology

  • Centralized
  • Modular
  • Distributed

By Application

  • Automotive
    • Electric Vehicles
    • E-Bikes
    • Automated Guided Vehicles
  • Military
  • Telecommunications
  • Renewable Energy Systems
  • UPS (Uninterrupted Power Supply)
  • Others
    • Marine
    • Medical Devices

Geographic Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of  Europe
  • APAC
    • China
    • Japan
    • India
    • Rest of APAC
  • RoW
    • South America
    • Middle East
    • Africa

Critical questions would be:

  • Which battery type would have the highest demand for battery management systems in the near future?
  • Which industries prefer battery management systems?
  • What are the opportunities and challenges for the BMS market?
  • What are the key industry trends in the market?
  • Which specific region has the highest adoption of battery management systems?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Study Objectives
    1.2 Market Definition and Scope
           1.2.1 Inclusions and Exclusions
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Arriving at the Market Share By Bottom-Up Approach (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Arriving at the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Growth Opportunities in Battery Management System Market
    4.2 Market, By Battery Type
    4.3 Market, By Type
    4.4 Market in North America, By Country and Application
    4.5 Market, By Application
    4.6 Market, By Country, 2018

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Trend of Electric Vehicles
                    5.2.1.2 Increasing Requirement for Battery Monitoring in Renewable Energy Systems
                    5.2.1.3 Need for Effective Electric Grid Management
           5.2.2 Restraints
                    5.2.2.1 Lack of Standardized Regulations for Developing Battery Management System
           5.2.3 Opportunities
                    5.2.3.1 Increasing Adoption of Battery-Operated Vehicles in Public Transport
                    5.2.3.2 Growing Demand From Data Centers Due to Large Storage Requirements
                    5.2.3.3 Government Initiatives Encourage Use of Electric Vehicles and Setting Up of E-Charging Stations
           5.2.4 Challenges
                    5.2.4.1 Complex Architecture of Battery Management Systems
                    5.2.4.2 Meeting High Level of Accuracy in Real-Time Applications
    5.3 Value Chain Analysis

6 Components of Battery Management System (Page No. - 46)
    6.1 Introduction
    6.2 Hardware
           6.2.1 Battery Control Unit
                    6.2.1.1 Battery Control Unit – A Preliminary Element in Battery Management Systems
           6.2.2 Power Management Components
                    6.2.2.1 Power Management Components are Building Blocks of Battery Management Systems
           6.2.3 Communication Channels
                    6.2.3.1 Can Bus is A Major Communication Protocol Used Significantly in Automotive Applications
    6.3 Software
           6.3.1 BMS Software Supports in Monitoring Key Control Actions of Battery Management Systems

7 Battery Management System Market, By Type (Page No. - 49)
    7.1 Introduction
    7.2 Stationary Battery
           7.2.1 Usage of Li-Ion Battery in Stationary Applications to Grow at Significant Rate During Forecast Period
    7.3 Motive Battery
           7.3.1 Battery Management System Monitors and Controls Battery Current and Voltage of Motive Battery

8 Battery Management System, By Topology (Page No. - 52)
    8.1 Introduction
    8.2 Centralized
           8.2.1 Centralized Battery Management Systems are Appropriate for Small Battery Packs
    8.3 Modular
           8.3.1 Modular BMS Architecture Balances Benefits and Pitfalls of Centralized and Distributed Types
    8.4 Distributed
           8.4.1 Distributed Battery Management System Preferred Due to Simple Design and High Reliability

9 Battery Management System Market, By Battery Type (Page No. - 58)
    9.1 Introduction
    9.2 Lithium-Ion Battery
    9.3 Advanced Lead-Acid Battery
           9.3.1 Use of Battery Management Systems in Advanced Lead-Acid Batteries to Extend Battery Life
    9.4 Others
           9.4.1 Solid-State Battery
                    9.4.1.1 Solid-State Batteries Play Crucial Role in Electric Vehicles
           9.4.2 Flow Battery
                    9.4.2.1 Flow Batteries are Appropriate for High-Energy Storage Applications
           9.4.3 Nickel-Based Battery
                    9.4.3.1 Nickel-Metal Hydride Battery is Most Commonly Used Nickel-Based Battery

10 Battery Management System Market, By Application (Page No. - 72)
     10.1 Introduction
     10.2 Automotive
             10.2.1 Electric Vehicles
                        10.2.1.1 Growing Demand for Electric Vehicles to Boost Market
             10.2.2 E-Bikes
                        10.2.2.1 Battery Management Systems for E-Bikes Enhance Adoption
             10.2.3 Automated Guided Vehicles
                        10.2.3.1 Efficient and Cheap Battery Management Systems Leading to Wider Adoption for Agvs
     10.3 Uninterrupted Power Supply (UPS)
             10.3.1 Battery Management Systems Support Monitoring of Critical Parameters in UPS
     10.4 Telecommunications
             10.4.1 Battery Management Systems for Telecommunications Application to Enhance Battery Efficiency
     10.5 Renewable Energy Systems
             10.5.1 Renewable Energy Systems to Encourage Use of Battery Management Systems
     10.6 Military
             10.6.1 Battery Management System to Help in Precise Management of Batteries Used in Military Devices
     10.7 Others
             10.7.1 Marine
             10.7.2 Medical Devices

11 Geographic Analysis (Page No. - 96)
     11.1 Introduction
     11.2 North America
             11.2.1 US
                        11.2.1.1 US to Be Largest Market for Battery Management System in 2019
             11.2.2 Canada
                        11.2.2.1 Canada is Fastest-Growing Market in North America
             11.2.3 Mexico
                        11.2.3.1 Growing Manufacturing Infrastructure in Mexico to Propel Demand for Battery Management Systems
     11.3 Europe
             11.3.1 Germany
                        11.3.1.1 Germany Held Largest Share of European Market in 2018
             11.3.2 France
                        11.3.2.1 France has Significant Potential for Development of Market
             11.3.3 UK
                        11.3.3.1 UK is Significant Market for Battery Management Systems
             11.3.4 Rest of Europe
     11.4 APAC
             11.4.1 China
                        11.4.1.1 Rising Automotive Production to Empower Battery Management System in China
             11.4.2 Japan
                        11.4.2.1 Existence of Key Players Offering BMS to Drive the Market in Japan
             11.4.3 India
                        11.4.3.1 India has Significant Potential for Development of Battery Management System
             11.4.4 South Korea
                        11.4.4.1 South Korea has Presence of Major Lithium Battery Manufacturers
             11.4.5 Rest of APAC
     11.5 RoW
             11.5.1 Middle East & Africa
                        11.5.1.1 Growth in Infrastructure Development and Renewable Energy Systems Empowering the Market in Middle East
             11.5.2 South America
                        11.5.2.1 Developing Economies Such as Brazil and Argentina to Drive Future Growth

12 Competitive Landscape (Page No. - 125)
     12.1 Overview
     12.2 Competitive Analysis
             12.2.1 Market Ranking Analysis: Market, 2018
     12.3 Competitive Leadership Mapping, 2018
             12.3.1 Visionary Leaders
             12.3.2 Dynamic Differentiators
             12.3.3 Innovators
             12.3.4 Emerging Companies
     12.4 Competitive Situation and Trends
             12.4.1 Joint Ventures, Acquisitions, Expansions
             12.4.2 Product Developments

13 Company Profiles (Page No. - 130)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     13.1 Key Players
             13.1.1 Leclanche
             13.1.2 Lithium Balance
             13.1.3 Nuvation Engineering
             13.1.4 Eberspaecher Vecture
             13.1.5 Storage Battery Systems
             13.1.6 Renesas Electronics
             13.1.7 Johnson Matthey
             13.1.8 Elithion
             13.1.9 BMS Powersafe
             13.1.10 Navitas Systems
     13.2 Other Players
             13.2.1 AVL List
             13.2.2 Roboteq
             13.2.3 EPEC
             13.2.4 Ansys
             13.2.5 Sedemac
             13.2.6 AVID Technology
             13.2.7 Analog Devices
             13.2.8 Texas Instruments
             13.2.9 Ewert Energy Systems
             13.2.10 Maxim Integrated
             13.2.11 Toshiba
             13.2.12 Panasonic
             13.2.13 Lion Smart
             13.2.14 Technology With Spirit
             13.2.15 Tronico

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 155)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (112 Tables)

Table 1 Market, in Terms of Value and Volume, 2017–2024
Table 2 Market, By Type, 2017–2024 (USD Billion)
Table 3 Market, By Topology, 2017–2024 (USD Billion)
Table 4 Centralized Battery Management System, By Application, 2017–2024 (USD Million)
Table 5 Modular Battery Management System, By Application, 2017–2024 (USD Million)
Table 6 Distributed Market, By Application, 2017–2024 (USD Million)
Table 7 Market, By Battery Type, 2017–2024 (USD Million)
Table 8 Market for Lithium-Ion Batteries, By Application, 2017–2024 (USD Million)
Table 9 Market for Lithium-Ion Batteries, By Region, 2017–2024 (USD Million)
Table 10 Market in North America for Lithium-Ion Batteries, By Country, 2017–2024 (USD Million)
Table 11 Market in Europe for Lithium-Ion Batteries, By Country, 2017–2024 (USD Million)
Table 12 Market in APAC for Lithium-Ion Batteries, By Country, 2017–2024 (USD Million)
Table 13 Market in RoW for Lithium-Ion Batteries, By Region, 2017–2024 (USD Million)
Table 14 Market for Advanced Lead-Acid Batteries, By Application, 2017–2024 (USD Million)
Table 15 Market for Advanced Lead-Acid Batteries, By Region, 2017–2024 (USD Million)
Table 16 Market in North America for Advanced Lead-Acid Batteries, By Country, 2017–2024 (USD Million)
Table 17 Market in Europe for Advanced Lead-Acid Batteries, By Country, 2017–2024 (USD Million)
Table 18 Market in APAC for Advanced Lead-Acid Batteries, By Country, 2017–2024 (USD Million)
Table 19 Market in RoW for Advanced Lead-Acid Batteries, By Region, 2017–2024 (USD Million)
Table 20 Market for Other Batteries, By Application, 2017–2024 (USD Million)
Table 21 Market for Other Batteries, By Region, 2017–2024 (USD Million)
Table 22 Market in North America for Other Batteries, By Country, 2017–2024 (USD Million)
Table 23 Market in Europe for Other Batteries, By Country, 2017–2024 (USD Million)
Table 24 Market in APAC for Other Batteries, By Country, 2017–2024 (USD Million)
Table 25 Market in RoW for Other Batteries, By Region, 2017–2024 (USD Million)
Table 26 Market, By Application, 2017–2024 (USD Million)
Table 27 Market for Automotive Application, By Battery Type, 2017–2024 (USD Million)
Table 28 Market for Automotive Application, By Topology, 2017–2024 (USD Million)
Table 29 Market for Automotive Application, By Region, 2017–2024 (USD Million)
Table 30 Market for Automotive Application in North America, By Country, 2017–2024 (USD Million)
Table 31 Market for Automotive Application in Europe, By Country, 2017–2024 (USD Million)
Table 32 Market for Automotive Application in APAC, By Country, 2017–2024 (USD Million)
Table 33 Market for Automotive Application in RoW, By Region, 2017–2024 (USD Million)
Table 34 Market for UPS Application, By Battery Type, 2017–2024 (USD Million)
Table 35 Market for UPS Application, By Topology, 2017–2024 (USD Million)
Table 36 Market for UPS Application, By Region, 2017–2024 (USD Million)
Table 37 Market for UPS Application in North America, By Country, 2017–2024 (USD Million)
Table 38 Market for UPS Application in Europe, By Country, 2017–2024 (USD Million)
Table 39 Market for UPS Application in APAC, By Country, 2017–2024 (USD Million)
Table 40 Market for UPS Application in RoW, By Region, 2017–2024 (USD Million)
Table 41 Market for Telecommunications Application, By Battery Type, 2017–2024 (USD Million)
Table 42 Market for Telecommunications Application, By Topology, 2017–2024 (USD Million)
Table 43 Market for Telecommunications Application, By Region, 2017–2024 (USD Million)
Table 44 Market for Telecommunications Application in North America, 2017–2024 (USD Million)
Table 45 Market for Telecommunications Application in Europe, By Country, 2017–2024 (USD Million)
Table 46 Market for Telecommunications Application in APAC, By Country, 2017–2024 (USD Million)
Table 47 Market for Telecommunications Application in RoW, By Region, 2017–2024 (USD Million)
Table 48 Market for Renewable Energy Systems Application, By Battery Type, 2017–2024 (USD Million)
Table 49 Market for Renewable Energy Systems Application, By Topology, 2017–2024 (USD Million)
Table 50 Market for Renewable Energy Systems Application, By Region, 2017–2024 (USD Million)
Table 51 Market for Renewable Energy Systems Application in North America, By Country, 2017–2024 (USD Million)
Table 52 Market for Renewable Energy Systems Application in Europe, By Country, 2017–2024 (USD Million)
Table 53 Market for Renewable Energy Systems Application in APAC, By Country, 2017–2024 (USD Million)
Table 54 Market for Renewable Energy Systems Application in RoW, By Region, 2017–2024 (USD Million)
Table 55 Market for Military Application, By Battery Type, 2017–2024 (USD Million)
Table 56 Market for Military Application, By Topology, 2017–2024 (USD Million)
Table 57 Market for Military Application, By Region, 2017–2024 (USD Million)
Table 58 Market for Military Application in North America, By Country, 2017–2024 (USD Million)
Table 59 Market for Military Application in Europe, By Country, 2017–2024 (USD Million)
Table 60 Market for Military Application in APAC, By Country, 2017–2024 (USD Million)
Table 61 Market for Military Application in RoW, By Region, 2017–2024 (USD Million)
Table 62 Market for Other Applications, By Battery Type, 2017–2024 (USD Million)
Table 63 Market for Other Applications, By Topology, 2017–2024 (USD Million)
Table 64 Market for Other Applications, By Region, 2017–2024 (USD Million)
Table 65 Market for Other Applications in North America, By Country, 2017–2024 (USD Million)
Table 66 Market for Other Applications in Europe, By Country, 2017–2024 (USD Million)
Table 67 Market for Other Applications in APAC, By Country, 2017–2024 (USD Million)
Table 68 Market for Other Applications in RoW, By Region, 2017–2024 (USD Million)
Table 69 Market, By Region, 2017–2024 (USD Million)
Table 70 Market in North America, By Country, 2017–2024 (USD Million)
Table 71 Market in North America, By Battery Type, 2017–2024 (USD Million)
Table 72 Market in North America, By Application, 2017–2024 (USD Million)
Table 73 Market in US, By Battery Type, 2017–2024 (USD Million)
Table 74 Market in US, By Application, 2017–2024 (USD Million)
Table 75 Market in Canada, By Battery Type, 2017–2024 (USD Million)
Table 76 Market in Canada, By Application, 2017–2024 (USD Million)
Table 77 Market in Mexico, By Battery Type, 2017–2024 (USD Million)
Table 78 Market in Mexico, By Application, 2017–2024 (USD Million)
Table 79 Market in Europe, By Country, 2017–2024 (USD Million)
Table 80 Market in Europe, By Battery Type, 2017–2024 (USD Million)
Table 81 Market in Europe, By Application, 2017–2024 (USD Million)
Table 82 Market in Germany, By Battery Type, 2017–2024 (USD Million)
Table 83 Market in Germany, By Application, 2017–2024 (USD Million)
Table 84 Market in France, By Battery Type, 2017–2024 (USD Million)
Table 85 Market in France, By Application, 2017–2024 (USD Million)
Table 86 Market in UK, By Battery Type, 2017–2024 (USD Million)
Table 87 Market in UK, By Application, 2017–2024 (USD Million)
Table 88 Market in RoE, By Battery Type, 2017–2024 (USD Million)
Table 89 Market in RoE, By Application, 2017–2024 (USD Million)
Table 90 Market in APAC, By Country, 2017–2024 (USD Million)
Table 91 Market in APAC, By Battery Type, 2017–2024 (USD Million)
Table 92 Market in APAC, By Application, 2017–2024 (USD Million)
Table 93 Market in China, By Battery Type, 2017–2024 (USD Million)
Table 94 Market in China, By Application, 2017–2024 (USD Million)
Table 95 Market in Japan, By Battery Type, 2017–2024 (USD Million)
Table 96 Market in Japan, By Application, 2017–2024 (USD Million)
Table 97 Market in India, By Battery Type, 2017–2024 (USD Million)
Table 98 Market in India, By Application, 2017–2024 (USD Million)
Table 99 Market in South Korea, By Battery Type, 2017–2024 (USD Million)
Table 100 Market in South Korea, By Application, 2017–2024 (USD Million)
Table 101 Market in RoAPAC, By Battery Type, 2017–2024 (USD Million)
Table 102 Market in RoAPAC, By Application, 2017–2024 (USD Million)
Table 103 Market in RoW, By Region, 2017–2024 (USD Million)
Table 104 Market in RoW, By Battery Type, 2017–2024 (USD Million)
Table 105 Market in RoW, By Application, 2017–2024 (USD Million)
Table 106 Market in Mea, By Battery Type, 2017–2024 (USD Million)
Table 107 Market in Mea, By Application, 2017–2024 (USD Million)
Table 108 Market in South America, By Battery Type, 2017–2024 (USD Million)
Table 109 Market in South America, By Application, 2017–2024 (USD Million)
Table 110 Market Ranking of the Top 5 Players in the Market, 2018
Table 111 Joint Ventures, Acquisitions, Expansions
Table 112 Product Developments


List of Figures (50 Figures)

Figure 1 Battery Management System: Segmentation
Figure 2 Market: Research Design
Figure 3 Battery Management System: Bottom-Up Approach
Figure 4 Battery Management System: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 Lithium-Ion Battery to Dominate Market During Forecast Period
Figure 8 Market for Renewable Energy Storage to Grow at Highest CAGR During Forecast Period
Figure 9 Europe to Hold Largest Share of Market in 2019
Figure 10 Rising Demand From Emerging Countries to Create Attractive Growth Opportunities for Market Players
Figure 11 Market for Lithium-Ion Battery to Dominate During Forecast Period
Figure 12 Motive Battery Management Systems to Witness A Huge Demand in Coming Years
Figure 13 US to Hold Largest Share of Market in North America By 2024
Figure 14 Automotive Application to Hold Largest Size of Market From 2019 to 2024
Figure 15 US Held Largest Share of Market in 2018
Figure 16 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Global Trend of Battery-Operated Electric Vehicles
Figure 18 Global Investment in Renewable Energy Sources
Figure 19 Impact of Drivers on Market
Figure 20 Impact of Challenges and Restraints on Market
Figure 21 Value Chain Analysis: Major Value Addition Done During Manufacturing and Assembly Phases
Figure 22 Market, By Component
Figure 23 Market, By Type
Figure 24 Market, By Topology
Figure 25 Modular Topology to Hold Largest Size of Market From 2019 to 2024
Figure 26 Market, By Battery Type
Figure 27 BMS Market for Other Batteries to Grow at Highest Rate From 2019 to 2024
Figure 28 Wide Use of Lithium-Ion Batteries Owing to Their Advantages
Figure 29 Automotive Application to Account for Largest Size of BMS Market for Lithium-Ion Batteries During Forecast Period
Figure 30 APAC to Exhibit Highest CAGR in BMS Market for Advanced Lead-Acid Batteries From 2019 to 2024
Figure 31 Automotive Application to Account for Largest Size of BMS Market for Other Batteries By 2024
Figure 32 Market, By Application
Figure 33 Market for Renewable Energy Systems Application to Grow at Highest Rate From 2019 to 2024
Figure 34 Additional Features Offered By BMS for E-Bikes
Figure 35 Modular Topology to Dominate Market for Automotive Application During Forecast Period
Figure 36 Battery Management System With Other Batteries for UPS Application to Grow at Highest CAGR During Forecast Period
Figure 37 APAC to Dominate Market for Telecommunications Application During Forecast Period
Figure 38 Market for Renewable Energy Application in India to Grow at Highest CAGR During Forecast Period
Figure 39 US to Dominate North American Battery Management System Market for Military Application During Forecast Period
Figure 40 Market for Other Applications in APAC to Grow at Highest CAGR During Forecast Period
Figure 41 Geographic Snapshot (2018): Japan and China are Emerging as Potential New Markets
Figure 42 Europe to Hold Largest Share of Market in 2019
Figure 43 North America: Snapshot of Market
Figure 44 Battery-Operated Electric Vehicle Fleet in Europe (2019)
Figure 45 Europe: Snapshot of Market
Figure 46 APAC: Snapshot of Market
Figure 47 Market (Global) Competitive Leadership Mapping, 2018
Figure 48 Leclanche: Company Snapshot
Figure 49 Renesas Electronics.: Company Snapshot
Figure 50 Johnson Matthey: Company Snapshot

The study involved 4 major activities in estimating the market size for battery management systems. Exhaustive secondary research has been conducted to collect information on the market, peer market, and parent market. Validation of these findings and assumptions with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation procedures have been used to estimate the market size of each segment and subsegment.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. Secondary sources include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. The secondary data has been collected and analyzed to arrive at the overall market size, which has been validated further through primary research.

Primary Research

The battery management system market comprises several stakeholders, such as associations and industrial bodies, pneumatic system manufacturers, pneumatic system distributors and providers, manufacturers, research organizations and consulting companies, and technology investors. Extensive primary research has been conducted after understanding and analyzing the battery management system market through secondary research. Several primary interviews have been conducted with market experts from both the demand- and supply-side vendors from across 4 regions—North America, Europe, APAC, and RoW. Approximately 20% of the primary interviews have been conducted with the demand side and 80% with the supply side. This primary data has been collected through questionnaires, emails, and telephonic interviews.

Battery Management System Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the battery management system market. These methods have also been used extensively to estimate the size of various subsegments in the market. The following method has been used to estimate the market size:

Bottom-Up:

  • List of more than 30 companies offering battery management systems was identified. Their offerings were mapped based on components, battery, type, topology, and applications.
  • After understanding the different types of battery management systems offered by various manufacturers, based on the data gathered through primary and secondary sources, the market was categorized into different segments.
  • To derive the global battery management system market, global shipments of each application that were considered in the scope of the report were tracked. Applications considered are shipment of electric vehicles and deployment of renewable energy storage systems, UPS, telecommunication towers, and others.
  • A suitable penetration rate was assigned to shipment for each application to derive the total shipment volume of battery management systems.
  • Using the average selling price (ASP) of battery management systems, we derived the battery management system market based on each application. The ASP of battery management system was identified based on secondary sources and validated through primaries.
  • For the projected market values for each application segment, the Y-o-Y was set to show a slow, growing, or steady growth in accordance with the actual growth rate of the application market.
  • For the CAGR, the market trend analysis was carried out by understanding the industry penetration rate, and the demand for and supply of battery management systems in different end-use industries.
  • We also tracked the battery management system market through the data sanity method. The revenues of more than 30 key providers were analyzed through annual reports and press releases, which summed up to the overall market.
  • For each company, a percentage is assigned to their overall revenue, and in a few cases, segmental revenue was derived from the battery management system business. These percentages for each company were assigned based on the company’s product portfolio and its range of battery management system offerings.
  • The estimates at every level were verified and crosschecked by discussing with key opinion leaders, including CXOs, directors, and operation managers, and with domain experts in MarketsandMarkets.
  • Various paid and unpaid information sources such as annual reports, press releases, white papers, and databases were studied.

Top-Down:

  • The global market size of battery management systems was estimated through data sanity of 30 major companies.
  • Types of battery management systems, their features and properties, and key applications served by all players in the battery management system market were studied to estimate and arrive at the percentage split of the segments.
  • Different types of battery and its penetration for end-use applications that use or are expected to implement battery management systems in the near future were identified.
  • The market split for battery management system by components, battery, type, topology, and applications, based on secondary research, was estimated.
  • The demand generated by companies operating in different application segments of the end-use application was analyzed.
  • Ongoing and upcoming projects pertaining to the implementation of battery management systems by end-use applications were tracked, and the market size was forecasted based on these developments and other critical parameters.
  • Multiple discussions with key opinion leaders across major companies involved in the development of battery management systems and related components were conducted to validate the market split of individual battery, type, topology, and application.
  • The geographic splits were estimated using secondary sources based on factors such as the number of players in a specific country and region, and on the adoption and use cases of each battery type with regard to applications in the region.

Data Triangulation

After arriving at the overall market size through the process explained above, the total market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedure have been employed wherever applicable. The data has been triangulated by studying various factors and trends from both demand- and supply-sides. Along with this, the market has been validated using both top-down and bottom-up approaches.

Report Objectives

  • To describe and forecast the global battery management system market, in terms of value, by battery, type, topology, and application
  • To forecast the global battery management system market, in terms of volume
  • To describe and forecast the battery management system market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW), along with their respective countries
  • To describe components of battery management system
  • To provide detailed information regarding major factors influencing the growth of the battery management system market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the total market
  • To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the battery management system market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze various competitive developments such as joint ventures, acquisitions, product developments, expansions, and SWOT analysis in the battery management system market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of a company. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to 10)
Report Code
SE 4338
Published ON
Nov, 2019
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