About Battery Management System for Electric Vehicle
A battery management system (BMS) is an electronic system that manages a rechargeable battery to ensure it operates safely and efficiently. The BMS is intended to monitor the parameters associated with the battery pack and its individual cells, and to use the data gathered to eliminate safety risks and optimize battery performance. A BMS's primary function is to meet safety requirements. Battery management systems (BMS) are used in electric vehicles to monitor and control the charging and discharging of rechargeable batteries, making the operation more cost effective. The battery management system keeps the battery safe and reliable while increasing senility without causing damage. The battery is a critical component of the electric vehicle, which represents a significant advancement toward sustainable mobility.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market for Battery Management System for Electric Vehicle is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Battery Management System for Electric Vehicle market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cyient (India), STMicroelectronics (Switzerland), Leclanché SA (Switzerland), Marelli (United States), Nuvation Energy (United States), Panasonic Corporation (Japan), Lithium Balance A/S (Denmark), Eberspaecher Vecture Inc. (Canada), Renesas Electronics Corporation (Japan), Esmito Solutions (India) and Elithion Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Navitas Systems LLC (United States), Cummins Inc. (United States) and LION Smart GmbH. (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Battery Management System for Electric Vehicle market by Type (Centralized Battery Management System Architecture, Modular Battery Management System, Primary Battery Management System and Distributed Battery Management System), Application (Passenger Cars and Commercial Vehicles) and Region.
On the basis of geography, the market of Battery Management System for Electric Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Battery, the sub-segment i.e. Lithium-Ion Batteries will boost the Battery Management System for Electric Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Battery cell monitor will boost the Battery Management System for Electric Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Innovations and Technology Advancement in Power Battery Management System and Increase Funds For R&D Activities In The Battery Management System for Electric Vehicles
Market Growth Drivers:
Growing Adoptions of Electronic Vehicles and Rising Need for Battery Management in the Renewable Energy System
Challenges:
Lack of Standardization for development of battery management system and High Cost associated with Battery Management System
Restraints:
High Initiative Investment May Hinder Market Pace
Opportunities:
Increasing Demand for Maximizing Vehicle Efficiency has Created Growth Opportunity and High Demand for E-Bikes and E-Scooters in Developing Counties
On 22 March 2022, Marelli introduces a new Wireless Distributed Battery Management System (wBMS) for electric vehicles, which is expected to bring noticeable advantages over wired distributed solutions.
Key Target Audience
New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.