According to TechSci Research, Global battery management system market is anticipated to grow at a significant CAGR during the forecast period. Increasing demand for electric vehicles due to rising awareness regarding greenhouse emissions and contribution of lower carbon footprint into the environment. Increasing requirement of battery monitoring in renewable energy systems is influencing the global market demand for the predicted period, 2023-2027.
Rising need for effective grid management is fueling the global battery management system market. Expansion of the automotive industry across the globe is considered a major driver for the market growth for the next five years. Increasing adoption of rechargeable batteries across various end-user industries is fostering the market across the world. The rising need for telecommunication systems is aiding to high market demand.
Battery management systems offers advantages such as higher reliability, improved business productivity and reduced complexity which is expected to influence the market growth. The implementation and development of latest technologies such as development of electric vehicle charging stations is paving the way for battery management system market as these systems have features for fault detection of individual cells and the ability to monitor and balance the charge of individual battery cells. Industry players are investing in research and development activities to improve the existing technology and introduce more efficient products. Battery management system manufacturers are collaborating with automobile manufacturers to improve their global presence.
Global battery management system market is segmented into battery type, topology, type, component, application, regional distribution, and company. Based on regional analysis, Europe is expected to witness fastest incremental growth in the global market as it has presence of some prominent battery manufacturers. Automobile industry is expected to grow at an exponential rate in Europe as it utilizes energy in an efficient way.
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The major players operating in the global battery management system market are Linear Technology Corporation, Lithium Balance A/S, Johnson Matthey PLC, Elithion, Inc., AVL List, Toshiba, Panasonic, Texas Instruments, Inc., Valence Technology, Inc., Ventec SAS, among others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global battery management system market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
| Attribute | Details |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027 |
| Report Coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered |
|
| Regional Scope | North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa |
| Country Scope | United States; Canada; Mexico; China; India; Japan; Thailand; South Korea; Germany; France; United Kingdom; Spain; Italy; Russia; Turkey; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa |
| Key Companies Profiled | Linear Technology Corporation, Lithium Balance A/S, Johnson Matthey PLC, Elithion, Inc., AVL List, Toshiba, Panasonic, Texas Instruments, Inc., Valence Technology, Inc., Ventec SAS. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, global battery management system market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
o Middle East & Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global battery management system market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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