Battery Management System Market Size, Share | Report 2022-2030
The global battery management system market was valued at USD 6.87 billion in 2021 and it is predicted to surpass around USD 34.89 billion by 2030 with a CAGR of 19.79% from 2022 to 2030.
Increasing use of renewable energy for a variety of applications due to rising concerns regarding climate change across the globe is expected to play a key role in the overall market development. Decreasing prices of batteries and solar photovoltaic cells and favorable government incentives are also encouraging end users to use renewable energy, which, in turn, will boost market growth.
However, renewable power sources, such as wind and solar are affected by weather, location, time, etc. leading to inconsistencies when it comes to energy supply. The use of Energy Storage Systems (ESS) in these scenarios helps smoothen these variabilities and store energy for future use. Demand for effective BMS will increase in future owing to the huge investments made by a number of countries for the larger adoption of renewable energy. Lead-acid batteries are the most commonly used batteries in ESS owing to applications, such as standalone battery systems used to handle output fluctuations from the wind and solar power.
Electricity grids are undergoing modernization through implementing power flow measurement, exercising a larger control on power production and distribution, and monitoring information on electricity use. Further, transmission and distribution of electricity through grids includes transformers, substations, and power lines that transport electricity from the point of generation. When electricity is distributed though transmission line, it loses its transmission due to high voltage and consumption patterns. Hence BMS helps maintain the balance between excess energy supply and demand. This factor is expected to boost the product demand over the coming years.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 6.87 billion |
| Revenue Forecast by 2030 | USD 34.89 billion |
| Growth rate from 2022 to 2030 | CAGR of 19.79% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Battery Type ,Topology ,Application ,Region |
| Companies Covered |
Johnson Matthey PLC (U.K.); Nuvation Engineering (U.S.); Valence Technology, Inc. (U.S.); and Linear Technology Corporation (U.S.) |
Battery Type Insights
Based on battery type, the market has been segmented into lithium-ion, nickel-based, lead-acid, and flow batteries. The lead-acid segment led the industry in terms of revenue in 2018 and is expected to retain its dominance over the forecast period. Lead-acid batteTopology Insights
Based on topology, the market has been segmented into centralized, distributed, and modular BMS. The distributed BMS segment is expected to register the highest CAGR from 2022 to 2030 owing to controlled flow of energy inside and outside battery pack present in an EV. Increase usage of distributed BMS is further driven by the rising installed capacity and production of electricity from renewable energy sources. Also, BMSs are simple to install and are highly reliable.
E-bikes, power tools, portable battery packs, portable medical equipment, and home appliances use BMS to ease daily operations. Modular BMS is expected to be the second fastest-growing segment over the forecast period. These systems are used for high-quality electronic components and are easy to apply in battery packs owing to their flexible software and hardware functions.
Application Insights
Based on application, the market has been segmented into automotive, consumer electronics, medical and healthcare, military and defense, renewable energy systems, and UPS and telecommunications. The automotive segment is expected to witness the highest CAGR over the forecast period owing to rising number of vehicles requiring rechargeable batteries including EVs, Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Vehicles (PHEVs). BMS plays a major role in the aforementioned vehicles for supervising and guaranteeing reliable and safe battery operations.
ries are economical than rechargeable batteries and are preferred for applications entailing high power. They have low energy density, which makes them incompatible for applications, such as handheld devices requiring compact battery size.
Lithium-ion segment is expected to witness the maximum CGR from 2022 to 2030 owing to rising usage of portable devices, such as mobile phones, tablets, and Bluetooth devices. Nickel-based battery segment is also expected to exhibit significant growth in coming years. These batteries are charged with high speed and less stress and provide a longer shelf life. They perform well under rigorous working conditions and are relatively low in cost. They are used in professional cameras, power tools, two-way radios, and emergency medical equipment.
Consumer electronics is also estimated to exhibit a strong growth owing to increasing number of consumer applications and usage of portable electronics devices, which require long hours of battery charge. Rising environmental concerns, coupled with the growing need for electricity generation, are expected to increase the demand for BMSs in the energy sector. Product demand in off-grid renewable energy generation sector is expected to witness a significant rise in the future. This growth in demand can be attributed to the increased off-grid installations by end-use industries owing to government support and focus on improving living conditions in rural areas.
Regional Insights
North America is expected to witness significant growth over the forecast period due to increasing penetration of EVs coupled with supportive government initiatives. The U.S. American Recovery and Reinvestment Act grants funds to private and government entities to develop HEVs, which is further expected to positively impact the market growth in the near future. Europe is also likely to register a healthy growth on account of increased penetration of EVs in Netherlands as a result of encouraging government initiatives, such as incentives to the EV manufacturers and exemption of registration fees and road taxes. Furthermore, the country plans to phase out conventional, internal combustion engine vehicles running on diesel or other forms of fossil fuel by 2030. Several other countries in the region have similar plans and are likely to phase out diesel vehicles in the coming years. Such bans will have a major impact on the growth of the BMS market.
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Battery Management System Market
5.1. COVID-19 Landscape: Battery Management System Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Battery Management System Market, By Battery Type
8.1. Battery Management System Market, by Battery Type, 2022-2030
8.1.1 Lithium-ion-based
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Lead-acid-based
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Nickel-based
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Flow batteries
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Battery Management System Market, By Topology
9.1. Battery Management System Market, by Topology, 2022-2030
9.1.1. Centralized
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Distributed
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Modular
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Battery Management System Market, By Application
10.1. Battery Management System Market, by Application, 2022-2030
10.1.1. Automotive
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Consumer Electronics
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Medical & Healthcare
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Military & Defense
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Renewable Energy Systems
10.1.5.1. Market Revenue and Forecast (2017-2030)
10.1.6. UPS
10.1.6.1. Market Revenue and Forecast (2017-2030)
10.1.7. Telecommunication
10.1.7.1. Market Revenue and Forecast (2017-2030)
10.1.8. Others
10.1.8.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Battery Management System Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.1.2. Market Revenue and Forecast, by Topology (2017-2030)
11.1.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Topology (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Topology (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.2.2. Market Revenue and Forecast, by Topology (2017-2030)
11.2.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Topology (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Topology (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Topology (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Topology (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.3.2. Market Revenue and Forecast, by Topology (2017-2030)
11.3.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Topology (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Topology (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Topology (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Topology (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.4.2. Market Revenue and Forecast, by Topology (2017-2030)
11.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Topology (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Topology (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Topology (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Topology (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.5.2. Market Revenue and Forecast, by Topology (2017-2030)
11.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Topology (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Battery Type (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Topology (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 12. Company Profiles
12.1. Johnson Matthey PLC (U.K.)
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Nuvation Engineering (U.S.)
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Valence Technology, Inc. (U.S.)
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Linear Technology Corporation (U.S.)
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers