Battery Management System Market: E-Vehicles to be the high value application during forecast period; Global Industry Analysis and Opportunity Assessment, 2015–2025
- REP-GB-458
- 2015-09-28
- 143 Pages
- Format:
- Category: Electronics, Semiconductors, and ICT
Global Battery Management System Market Overview
The global battery management system market is projected to reach US$ 11,730.0 Mn by 2025, expanding at an estimated CAGR of 19.9% during the forecast period. Battery management system is an electronic system that helps maintain optimal health of rechargeable batteries. The BMS manages batteries by controlling load environment, monitoring battery state and accordingly balancing charging the battery. Battery management system is useful for ensuring prolonged life of batteries, preventing battery damage due to overcharging and voltage fluctuations, managing optimal state of charging of the battery and facilitating BMS interfaces with host application to provide real-time information regarding battery health. BMS follows three types of topologies, which are distributed, centralised and modular.
Vertical Overview
The global battery management system market is segmented on the basis of verticals into automotive, energy, telecom and drones. Among the automotive verticals, demand for BMS in e-vehicles is significant, and the segment is estimated to account for 14.2% revenue share of the global battery management system market by the end of 2015. As per FMI estimates, this segment is projected to expand at a CAGR of 21.1% during the forecast period. In 2015, the automotive vertical is estimated to dominate the global market, accounting for 39.5% share in terms of revenue, followed by the energy and consumer/handheld verticals with shares of 26.3% and 17.4%, respectively. Automotive vertical dominated the market in 2014 and is expected to expand at a CAGR of 20.8% during forecast period.
Regional Overview
By the end of 2015, APEJ is estimated to dominate the market and account for around 29.1% share of the global market, followed by North America and Western Europe. By the end of 2015, the North America and Western Europe regions are estimated to be the other major contributors to the global market, collectively accounting for 40.8% share of the overall market, respectively.
Drivers
Apart from the other sectors, consumption of rechargeable batteries is growing in the consumer electronics sector as well. Rechargeable batteries are used in products such as power tools and vacuum pumps, and rise in demand for these products is driving the growth of the global battery management system market currently. It has been witnessed that the acceptance of electronic gadgets such as power tools, garden tools, portable medical tools, portable battery packs and various other technological goods in emerging regions has been increasing over the last few years, particularly in Asia.
Trends
The electronics manufacturers are focusing on manufacturing miniature versions of electronic products, due to which size of BMS is being reduced by the manufacturers. Increasing demand for minimising fuel costs and maximising vehicle efficiency has led to technological advancements in electric and hybrid electric vehicles. To increase utilisation of battery storage capacity and avoid hazardous incidents caused due to battery overheating, OEMs of e-vehicles and E-bikes are integrating BMS systems in vehicles. The global battery management system market is experiencing high level of competition due to presence of large number of manufacturers.
Competition Landscape
Key players across the supply chain of the global battery management system market include OEMs/suppliers of BMS, BMU integrators and electronic devices manufacturers that manufacture BMSs. The companies that have been analysedin the report include The Ventec Company, Nuvation Engineering, Ashwoods Energy Limited, TWS, Lithium Balance Corporation, Vecture Inc., Toshiba Corporation, L&T Technology Services Ltd., Merlin Equipment Ltd., AVL, Navitas System LLC and Johnson Matthey PLC.
In its latest market outlook, Future Market Insights report examines the ‘Battery Management System’ market for the period 2015 – 2025. The primary objective of the report is to offer updates, insights and information regarding the market opportunities in the global battery management system market.
The BMS manages batteries by controlling load environment, monitoring battery state and accordingly balancing the charging. Battery management system is useful for ensuring prolonged life of batteries, preventing battery damage due to overcharging and voltage fluctuations, managing optimal state of charging for the battery and facilitating BMS interfaces with host application to provide real-time information regarding battery health. BMS follows three types of topologies, which are distributed, centralised and modular. Distributed BMS has a single communication cable controller and battery; a cell board is installed at each cell. Centralised BMS has a single controller, which is connected to battery cells with the help of communication wires. Modular BMS has multiple controllers that handle certain number of cells and communicate with each other.
The report begins with an overview of the battery management system market. The global battery management system market is segmented on the basis of verticals into automotive, energy, telecom and drones.To understand and assess the opportunities in this market, the report is categorically split into three sections: market analysis by vertical, topology, component and region.
FMI covers the battery management system market performance in terms of revenue split in the following regions: Asia Pacific Excluding Japan (APEJ), the Middle East & Africa (MEA), Latin America, North America, Western Europe, Eastern Europe and Japan. This section also includes FMI analysis of key trends, drivers and restraints. Impact analysis of key growth drivers and restraints based on the weighted average model is included in the report to better equip clients with crystal clear decision making insights.
The report analyses the market on the basis of concerned verticals and presents forecast in terms of value and volume for the next 10 years. Vertical types covered in the report include:
- 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 and UPS)
- Drones
The report further analyses the market on the basis of components and presents forecast in terms of value for the next 10 years. Component types covered in the report include:
- Battery management unit
- Communication unit
The report further analyses the market on the basis of various topologies and presents forecast in terms of value for the next 10 years. The topology types covered in the report include:
- Distributed
- Centralised
- Modular
The next section of the report analyses the market on the basis of various regions and presents forecast in terms of value for the next 10 years.
- Asia Pacific Excluding Japan
- Latin America
- Japan
- North America
- Western Europe
- Eastern Europe
- Middle East & Africa
All the above sections, by region, by component, by vertical and by topology evaluate the present scenario and growth prospects in the battery management system market for the period 2015 –2025. We have considered 2014 as the base year, with market values estimated for 2015 and forecast developed from 2016 onwards.
The vertical ’Home Appliances‘ mainly includes BMS for UPS and invertor systems for domestic usage that provide backup for home appliances such as television, electric water heaters, room heaters, electric ovens, air conditioners and cable boxes. Various factors such as GDP, telecom tower installations, electricity net consumption, total renewable electricity net consumption, electric vehicle stock, lithium-ion market, lead-acid battery market and telecom industry growth have been considered to calculate the indicated market numbers. We have sub-segmented the component segment by ‘Battery Management Unit (BMU)’ and ‘communication channel’. BMU represents a chip or main processing component of the battery management system. A battery management unit does not include power module, charger, battery, monitor DC/DC converter or communication (we are considering communication as a separate component). To calculate market size, by topology, we have grouped verticals as follows:
- Distributed: grid, solar, wind, telecom and parts of e-vehicles
- Modular: energy storage system, industrial UPS, medical mobility vehicles, e-recreational vehicles and parts of e-vehicles, drones
- Centralised: E-bikes, Segways, portable battery packs, power tools, vacuum cleaner, garden tools, portable medical equipment, others (home appliances with high cell count and domestic UPS)
The forecast presented here assesses total volume and revenue generated by the battery management system market, by vertical. Given the characteristics of the market, we triangulate the outcome on the basis of various critical factors, such as supply side, demand side and dynamics of the parent market. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as Year-on-Year (Y-o-Y) growth rate to understand market predictability and to identify ideal opportunities across the battery management system market.
Sub-segments and/or categories have been analysed in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identification of key trends in the battery management system market.
Another key feature of this report is the analysis of battery management system market, by region, vertical, component and topology and its revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider has, as well as to identify potential resources from a sales perspective.
Furthermore, to understand key growth segments in terms of growth and adoption of battery management system, FMI developed the market attractiveness index. The resulting index would help providers identify ideal market opportunities.
The final section of the report includes the battery management system landscape, and provides the audience with a dashboard view, based on categories of providers across the value chain, their presence in battery management system product portfolio and key differentiators. Key players across the supply chain of the global battery management system market include OEMs/suppliers of BMS, BMU integrators and electronic devices manufacturers that manufacture BMSs. These include:
- The Ventec Company
- Nuvation Engineering
- Ashwoods Energy Limited
- TWS
- Lithium Balance Corporation
- Vecture Inc.
- Toshiba Corporation
- L&T Technology Services Ltd.
- Merlin Equipment Ltd.
- AVL
- Navitas System LLC
- Johnson Matthey PLC