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Battery Management System Market, Scope and Regional Analysis by 2026

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Battery Management System Market, Scope and Regional Analysis by 2026

According to the latest report by IMARC Group, titled "Battery Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global battery management system market reached US$ 5.3 Billion in 2020. Battery management system (BMS) refers to an electronically-regulated hardware that ensures the optimal use of residual energy present in a battery. It manages a rechargeable battery by monitoring and balancing its state, performance, and environment. BMS collects data regarding various parameters of the battery, such as voltage, temperature, coolant flow, and current. This mechanism prevents over- or under-charging of the battery and possible breakdown in wire insulations, thereby maximizing its capacity.

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.  

Global Battery Management System Market Trends:

The rising environmental concerns have led to a significant increase in the demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) across the globe, which is primarily driving the BMS market growth. This is further supported by an expansion in the automotive industry and stringent regulations implemented by governments of various nations to reduce the overall carbon footprint. Additionally, the increasing need for BMS and effective grid management in renewable energy systems are also contributing to the market growth. Other factors, including the widespread utilization of rechargeable batteries in consumer electronics and the development of innovative cloud-based BMS, are creating a positive outlook for the market. Looking forward, the market is expected to reach US$ 15.4 Billion by 2026, growing at a CAGR of 19% during 2021-2026.

Market Summary:

·      Based on the battery type, the market has been divided into lithium-ion-, lead-acid-, and nickel-based, and others.

·      On the basis of the type, the market has been bifurcated into motive and stationary battery.

·      Based on the topology, the market has been segmented into centralized, distributed, and modular.

·      On the basis of the application, the market has been classified into automotive (electric vehicles, e-bikes, and golf carts), military and defense, healthcare, consumer electronics, telecommunications, renewable energy systems, and others.

·      On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.

·      The competitive landscape of the market has also been examined, with some of the key players being Eberspaecher Vecture, Elithion Inc., Johnson Matthey, Leclanche, Lithium Balance, Navitas Systems LLC (East Penn Manufacturing Company), Nuvation Engineering, NXP Semiconductor N.V., Storage Battery Systems LLC and Valence Technology Inc. (Lithium Werks B.V.).
 

Competitive Landscape:

Eberspaecher Vecture

Elithion Inc.

Johnson Matthey

Leclanche

Lithium Balance

Navitas Systems LLC (East Penn Manufacturing Company)

Nuvation Engineering

NXP Semiconductor N.V.

Storage Battery Systems LLC

Valence Technology Inc.

Lithium Werks B.V.

Breakup by Battery Type:

·      Lithium-Ion Based

·      Lead-Acid Based

·      Nickel Based

·      Others

Breakup by Type:

·      Motive Battery

·      Stationary Battery

Breakup by Topology:

·      Centralized

·      Distributed

·      Modular

Breakup by Application:

·      Automotive

o   Electric Vehicles

o   E-Bikes

o   Golf Carts

·      Military and Defense

·      Healthcare

·      Consumer Electronics

·      Telecommunications

·      Renewable Energy Systems

·      Others

Breakup by Region:

·      North America (United States, Canada)

·      Europe (Germany, France, United Kingdom, Italy, Spain, Others)

·      Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

·      Latin America (Brazil, Mexico, Others)

·      Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:                                                    

Market Performance (2015-2020)

Market Outlook (2021-2026)

Market Trends

Market Drivers and Success Factors

The Impact of COVID-19 on the Global Market

Value Chain Analysis

Structure of the Global Market

Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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