Dublin, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The "EV Battery Management Market by Vehicle Type, Configuration, Design, Topology, Voltage, Cell Balancing Method, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
This research report provides an in-depth analysis of the EV battery management systems market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2029. The EV battery management systems market is projected to reach $37.3 billion by 2029, at a CAGR of 30.5% during the forecast period of 2022-2029.
The EV battery management systems market is segmented based on vehicle type, configuration, design, topology, voltage, cell balancing method, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on vehicle type, the light commercial vehicles segment is slated to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing awareness regarding the role of electric vehicles in reducing emissions, the high demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations regarding vehicle emissions.
Based on configuration, the 144 cells to 180 cells segment is slated to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of electric light commercial vehicles by retail MNCs and transport fleet operators, the higher energy capacity requirements of EV batteries to facilitate long-range driving, and the increasing adoption of electric buses by municipalities to reduce tailpipe emissions and carbon footprint of the transport sector.
Based on design, in 2022, the battery management systems segment is expected to account for the larger share of the EV battery management systems market. The large market share of this segment is attributed to the benefits offered by battery management systems, such as monitoring the voltage and current in a battery pack, cell balancing capabilities, and protection against overcharge and deep discharge.
Based on geography, the EV battery management systems market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the EV battery management systems market. The major market share of this region is attributed to the growing number of start-ups offering numerous battery solutions, the leadership of China in global EV battery manufacturing capacities, and the increasing investments in battery management systems by major market players.
Market Dynamics
Market Drivers
- Increasing Adoption of Electric Vehicles
- Rising Safety Concerns Related to EV Batteries
- Growing Demand for Fast-charging Batteries for E-Mobility
- Increasing Requirement for Efficient & High-performance Battery Packs
Market Restraints
- Lack of Standardized Regulations for Developing Battery Management Systems
- High Costs of Battery Management Systems
Market Opportunities
- Increasing R&D Investments in Developing High-Energy-Density EV Batteries
- Increasing R&D Investments in Developing New Cell Chemistries for EV Batteries
Market Challenges
- Complex Architecture of Battery Management Systems
Scope of the Report:
EV Battery Management Systems Market, by Vehicle Type
- Electric Cars
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Hybrid Electric Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- E-scooters & Motorcycles
- E-bikes
EV Battery Management Systems Market, by Configuration
- Up to 36 Cells
- 48 Cells to 84 Cells
- 96 Cells to 132 Cells
- 144 Cells to 180 Cells
- More Than 180 Cells
EV Battery Management Systems Market, by Design
- Protection Circuit Model
- Battery Management Systems
EV Battery Management Systems Market, by Topology
- Centralized BMS
- De-centralized BMS
- Modular BMS
EV Battery Management Systems Market, by Voltage
- Low-voltage BMS
- High-voltage BMS
EV Battery Management Systems Market, by Cell Balancing Method
- Active Cell Balancing
- Passive Cell Balancing
EV Battery Management Systems Market, by Geography
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on the Global Electric Vehicle Battery Management Systems Market
5. Market Insights
6. Global Electric Vehicle Battery Management Systems Market, by Vehicle Type
7. Global Electric Vehicle Battery Management Systems Market, by Configuration
8. Global Electric Vehicle Battery Management Systems Market, by Design
9. Global Electric Vehicle Battery Management Systems Market, by Topology
10. Global Electric Vehicle Battery Management Systems Market, by Voltage
11. Global Electric Vehicle Battery Management Systems Market, by Cell Balancing Method
12. Electric Vehicle Battery Management Systems Market, by Geography
13. Competitive Landscape
14. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
15. Appendix
Companies Mentioned
- Leclanche SA (Switzerland)
- Sensata Technologies Holding PLC (U.S.)
- Nuvation Energy (U.S.)
- Renesas Electronics Corporation (Japan)
- Eberspaecher Vecture Inc. (Canada)
- ST Microelectronics N.V. (Switzerland)
- Panasonic Corporation (Japan)
- LION Smart GmbH (Germany)
- Ewert Energy Systems Inc. (U.S.)
- Navitas Systems LLC. (U.S.)
- NXP Semiconductors N.V. (Netherlands)
- Analog Devices Inc. (U.S.)
- Merlin Equipment Ltd. (UK)
- BMS PowerSafe (France)
- Maxim Integrated (U.S.)
For more information about this report visit https://www.researchandmarkets.com/r/r3ek3f
