London, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Rising green energy significance, and accelerated expansion of e-mobility collectively drive the sales of battery management systems worldwide. Global battery management system market will largely gain from mounting demand for electric and hybrid electric vehicles that boost the adoption rate of battery management systems. While the market registered revenue worth US$4.6 Bn in the year 2019, the report anticipates market valuation to reach nearly US$28.4 Bn by the end of 2029. At a stellar CAGR of 19.8% projected between 2022 and 2029, battery management system market is all set to display phenomenal growth during the period of assessment. Fairfield Market Research offers a detailed growth analysis and forecast of the market in its latest released report.
Get the Sample Copy of Battery Management System Market at: https://www.fairfieldmarketresearch.com/report/battery-management-system-market/request-sample
Key Research Insights
- Over the course of the decade (2019 – 2029), the worldwide battery management system market is likely to experience more than 6x growth in revenue
- Li-ion battery remains the top demand generating segment with more than 41% market share
- North America retains lead in global marketplace with current revenue share of 30%
- Industry leaders place greater emphasis on R&D for boosting sales performance
Insights into Segmental Analysis
The report points to continued dominance of lithium-ion battery on account of extensive application across industries, especially automotive, and consumer electronics. With over 41% value share in global battery management system market, Li-ion battery will maintain pre-eminence throughout the forecast period. Application-wise analysis of the market shows dominance of automotive battery management systems over the systems used across energy storage, consumer electronics, military and defense, telecommunication, healthcare, and renewable energy industries. However, power generation, and communications are likely to represent highly lucrative segments in battery management system market. Based on topology, distributed topology is likely to remain dominant with more than 50% share, followed by centralized topology segment. The report however projects higher growth potential for modular topology in line with escalating demand for essential components of electric cars, medical mobility vehicles, commercial drones, and energy storage systems.
Key Report Highlights
- Large players primarily depend on generators, and UPSs that predominantly find application in power generation across telecom industry
- Adoption of Li-ion battery will be the maximum across electric vehicle sector, and consumer electronics industry
- Thriving demand for chargeable batteries will provide a strong impetus to battery management systems
Insights into Regional Analysis
With the current revenue share of 30%, North America spearheads global battery management system market. The region will retain lead throughout the period of projection and is anticipated to demonstrate a whopping 19.4% growth through the end of 2029. Strong presence of some of the globally leading industry players primarily account for the prime positioning of North America in addition to an established small and medium business sector that encourages adoption of battery management systems for improved performance. The uptake here will be on an uptrend as the region provides a highly favourable ground for electric and hybrid electric vehicle sales. The role of governments remains crucial, says the report. Together, North America, and Europe account for a share of over 55%. On the other hand, Asia Pacific that currently captures more than 1/4th of the overall market valuation is expected to witness fastest growth during 2022 – 2029. In addition to wide application across automotive, telecom, and electronics industries, battery management system market in Asia Pacific will significantly benefit from rapid expanse of renewables sector, and e-mobility.
Leaders in Global Battery Management System Market Space
Elithion Inc, Marelli Holdings Co., Ltd, Analog Devices, Eberspächer, Panasonic Industry Co., Ltd, Johnson Matthey, Leclanché SA, Nidec Motor Corporation, Navitas System, LLC, Nuvation Energy, Texas Instruments, Sedemac
Do You Have Any Query or Specific Requirement? Request for Custom Research: https://www.fairfieldmarketresearch.com/report/battery-management-system-market/request-customization
REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2021 | |
| Forecast Year | 2022 – 2029 | |
| Market Size in 2019 | US$4.6 Bn | |
| Estimated Market Size in 2029 | US$28.4 Bn | |
| CAGR | 19.8% | |
| Key Players | Analog Devices, Eberspächer, Elithion Inc, Johnson Matthey, Leclanché SA, Marelli Holdings Co., Ltd, Navitas System, LLC, Nidec Motor Corporation, Nuvation Energy, Panasonic Industry Co., Ltd, Sedemac, and Texas Instruments | |
Market Segmentation
Battery Coverage
- Lithium-ion
- Advanced Lead-acid
- Others
Topology Coverage
- Centralized
- Distributed
- Modular
Application Coverage
- Electric Vehicles
- Computing Devices
- Renewable Energy Systems
- UPS (Uninterrupted Power Supply)
- Industrial Systems
- Others (Personal Mobility Instruments, Robotic Boats & ROVs, etc.)
End Use Coverage
- Automotive & Transportation
- Military & Defense
- Energy & Utility
- Healthcare
- Consumer Electronics
- Telecommunications
- Others (Industrial, Marine, etc.)
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
- Asia Pacific
Leading Companies
- Analog Devices
- Eberspächer
- Elithion Inc
- Johnson Matthey
- Leclanché SA
- Marelli Holdings Co., Ltd
- Navitas System, LLC
- Nidec Motor Corporation
- Nuvation Energy
- Panasonic Industry Co., Ltd
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Battery-wise Analysis
- Application-wise Analysis
- Topology-wise Analysis
- End Use-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
