A battery management system (BMS) is an electronic system that governs a rechargeable battery such as battery pack or cell. This is done by supervising its state, preventing it from operating outside its safe operating area, reporting data, calculating secondary data, and controlling its environment. BMS has three main objectives namely maintaining prolong life for battery, protecting cells or battery from damage, and maintaining the battery in a state in which it can fulfill the functioning requirements. The battery management topology is divided into three categories namely

  • Centralized, where a single controller is connected to the battery cells via an assemble of wires
  • Modular, where a few controllers, each supplying number of cells with communication between controllers
  • Distributed, a BMS board is connected at each cell through a single communication cable between the controller and battery

The global battery management system (BMS) market was valued at US$ 3,513.2 Mn in 2018 and is expected to grow at a CAGR of 19.9% during the forecasted period (2019-2027)

Market Dynamics- Drivers

  1. Increasing demand for electric vehicles worldwide is expected to drive growth of the global battery management system (BMS) market during the forecast period

In the recent past, demand for electric vehicles has increased significantly, especially from Europe, North America, and Japan. This is partly due to growing fuel costs and strict regulatory polices imposed by the governments to reduce CO2 emissions. According to the International Energy Agency (IEA), in 2018, global production of electric car passenger cars crossed 5 million units. According to the same source, in 2018, around 45% of electric cars on the road were in China. Moreover, the number of charging points for EVs reached around 5.2 million in 2018. Thus, growing demand for electric and hybrid cars is expected to drive the market growth in the near future.

  1. Growing demand for e-bikes, e-scooters, and S-Pedelecs is expected to propel the global battery management (BMS) market over the forecast period

Key manufacturers in the industry are focused on investing in research and development activities, in order to enhance e-bikes technology. This is owing to increasing demand for e-scooters and e-bikes from developed countries such as Germany, France, Japan, Italy, and the U.S. Moreover, increasing disposable incomes in developed countries is expected to boost the demand for e-bikes and thereby drive the global battery management (BMS) market growth over the forecast period.   

Asia Pacific region dominated the global battery management system (BMS) market in 2018, accounting for 40.7% share in terms of value, followed by North America and Europe, respectively

Battery Management System (BMS)  | Coherent Market Insights

Market Dynamics- Restraints

  1. Decreasing profit margin for vendors and OEMs is expected to restrain growth of the global battery management system (OEMs) market over the forecast period

Growing competition in the market coupled with pricing wars has hindered the profit margins. Moreover, OEMs in the automotive industry and telecom hold tremendous bargaining power and price dictation of battery management system. This, in turn, reduces profit margins for vendors. Furthermore, cost-sensitive markets such as ASEAN and India with intense competition among BMS providers are expected to restrain the market growth over the forecast period.

  1. Complex structure of battery is expected to hinder the global market growth over the forecast period

Some batteries available in the market have complex structures and are incompetent in performance. According to Coherent Market Insights’ analysis, BMS has technological drawbacks and cannot be incorporated with complex battery structure. This, in turn, is expected to hamper the market growth in the near future.

Market Opportunities

  1. Growing adoption of battery-operated vehicles in public transport is expected to pose excellent growth opportunities for market players

Growing CO2 emission has compelled governments of various countries to adopt battery-operated vehicles for public transport. The governmental agencies are investing in the endorsement of electric vehicles in public transport. For instance, in July 2019, the Government of India approved Phase-II of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II). This, in turn, is expected to offer lucrative business opportunities for market players in the near future.

  1. Proactive initiatives by government agencies to promote use of electric vehicles is expected to offer significant growth opportunities for market players

Governments of various countries are encouraging adoption of EVs with concession on tax and subsidies. Moreover, governments are increasingly investing in installing charging stations around the country, in order to provide convince of rapid charging to EV owners. For instance, in September 2019, the government of the U.K. invested around US$ 535 million (£400m) for the country’s electric vehicle charging infrastructure, of which around US$ 267 million ((£200m) would be invested for rapid charging points. This, in turn, is expected to pose significant growth opportunities for market players during the forecast period.

Battery Management System (BMS)  | Coherent Market Insights

Market Trends

  1. Increasing demand for BMS for E-bikes and E-vehicles

Increasing demand to reduce fuel costs and optimize vehicle efficiency has led to technological advancements for hybrid electric and electric vehicles. Key manufacturers in the market are incorporating battery management systems in e-bikes and e-vehicles, in order to increase the battery utilization capacity and prevent hazardous incidents.

  1. Long-term contract with OEMs is a major emerging trend in the market

Since there is intense competition in the market due to a large pool of manufacturers, BMS suppliers and OEMs are entering into long-term contracts. This is done to increase their market share for an extended period of time.

Segment information:

In Global battery management system (BMS) market, by vertical segment automotive sub-segment dominated the global battery management system (BMS) market in 2018, accounting for 40.4% share in terms of value, followed by energy sub-segment and Consumer/Handheld sub-segment, respectively.

Battery Management System (BMS)  | Coherent Market Insights

Competitive Section

Key companies operating in the global battery management system (BMS) market are AVL, Cummins, Inc., Johnson Matthey Battery Systems, L&T Technology Services, Lithium Balance Corporation, Merlin Equipment Ltd., Navitas System, LLC, Nuvation Engineering, The Ventec Company, Toshiba Corporation, TWS (Technology with Spirit), and Vecture Inc.  

Key Developments

  1. Key companies in the market are focused on gaining regulatory certification, in order to enhance their product portfolio. For instance, in September 2018, Toshiba Infrastructure Systems & Solutions Corporation announced that its BMS using SCiB lithium-ion battery received the highest safety integrity level certification from European Norm (EN) 5026 standards.
  2. Key companies in the market are focused on product launch, in order to gain competitive edge in the market. For instance, in March 2017, Nuvation Engineering introduced Nuvation Energy, a brand dedicated to providing services and products for large-scale battery energy storage.

A battery management system (BMS) is an electronic system that maintains the optimal health of battery. This is done by monitoring battery state, controlling load environment, and balancing and charging accordingly. Moreover, battery management system several benefits such as prolonged battery life, prevention of battery damage due to voltage fluctuation and overcharging, supervising the optimal state of charging for the battery, and interfacing with the host application to deliver real-time information regarding battery health.

Increasing demand for electric vehicles in Asia Pacific region such China and India

Increasing demand for electric vehicles in emerging economies of Asia Pacific region such as China and India is expected to drive the growth of the global battery management system market over the forecast period. The battery management system offers various advantages including prolonged battery life, prevention of battery damage due to voltage fluctuation and overcharging, As per the Electric Vehicle World Sales Database, China sold around 1.3 million plug-in electric vehicles and plug-in hybrids electric vehicles in 2018, which was 62% higher than in 2017. As EVs are continuously improving and becoming more affordable, EVs are expected to account for significant market share in China by 2025. This high growth in the number of electric vehicles will create better growth opportunities for the global battery management system market in China.

However, Lack of regulated policies for developing battery management system is expected to restrain growth of the global battery management system (BMS) market over the forecast period.

Market Taxonomy

This report segments the global battery management system market on the basis of Topologies, Components, and Verticals. On the basis of Topologies, the global battery management system market is segmented into distributed, modular, and centralized. On the basis of components, the market is segmented into battery management unit and communication unit. On the basis of verticals, the market is segmented into Automotive (E-Vehicles (EVs, HEVs, PHEVs, BEV, Racing vehicles and Electric Heavy Vehicles), Golf Cart, Medical Mobility Vehicles, E-Recreational Vehicles and Segways), Telecom, Energy (Grid, solar, wind, portable battery packs, energy storage systems, UPS), Drones, Consumer/Handheld (Power tools, vacuum cleaners, portable medical equipment and others).

Key features of the study:

  • This report provides an in-depth analysis of the global battery management system market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global battery management system market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study AVL, Cummins, Inc., Johnson Matthey Battery Systems, L&T Technology Services, Lithium Balance Corporation, Merlin Equipment Ltd., Navitas System, LLC, Nuvation Engineering, The Ventec Company, Toshiba Corporation, TWS (Technology with Spirit), and Vecture Inc. 
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global battery management system market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global battery management system

Detailed Segmentation:

  •  Global Battery Management System Market, By Topologies:
    • Distributed
    • Modular
    • Centralized
  • Global Battery Management System Market, By Components:
    • Battery Management Unit
    • Communication Unit
  • Global Battery Management System Market, By Verticals:
    • Automotive (E-Vehicles (EVs, HEVs, PHEVs, BEV, Racing vehicles and Electric Heavy Vehicles), Golf Cart, Medical Mobility Vehicles, E-Recreational Vehicles and Segways)
    • Telecom
    • Energy (Grid, solar, wind, portable battery packs, energy storage systems, UPS)
    • Drones
    • Consumer/Handheld (Power tools, vacuum cleaners, portable medical equipment and others)
  • Company Profiles
    • AVL*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Cummins, Inc.
    • Johnson Matthey Battery Systems
    • L&T Technology Services
    • Lithium Balance Corporation
    • Merlin Equipment Ltd.
    • Navitas System, LLC
    • Nuvation Engineering
    • The Ventec Company
    • Toshiba Corporation
    • TWS (Technology with Spirit)
    • Vecture Inc.

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Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Topologies
      • Market Snippet, By Components
      • Market Snippet, By Verticals
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Battery Management System Market, By Topologies, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Distributed
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Modular
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Centralized
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Battery Management System Market, By Components, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Battery Management Unit
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Communication Unit
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Battery Management System Market, By Verticals, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Automotive (E-Vehicles (EVs, HEVs, PHEVs, BEV, Racing vehicles and Electric Heavy Vehicles), Golf Cart, Medical Mobility Vehicles, E-Recreational Vehicles and Segways)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Telecom
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Energy (Grid, solar, wind, portable battery packs, energy storage systems, UPS)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Drones
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Consumer/Handheld (Power tools, vacuum cleaners, portable medical equipment and others)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Battery Management System Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Topologies, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Components, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Verticals, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Topologies, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Components, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Verticals, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Topologies, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Components, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Verticals, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Topologies, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Components, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Verticals, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Topologies, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Components, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Verticals, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • AVL
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Cummins, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Johnson Matthey Battery Systems
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • L&T Technology Services
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lithium Balance Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Merlin Equipment Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Navitas System, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nuvation Engineering
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • The Ventec Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Toshiba Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TWS (Technology with Spirit)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Vecture Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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