Global Power Battery Management System Market Share, Trends, Industry Size 2025

Posted by Anvi on March 9th, 2020

Global Power Battery Management System Market

The global power battery management system market is expected to reach, approximately, USD 6,944.2 million by the end of 2023, growing at a CAGR more than 11.86% between 2017 and 2023.

Power battery management systems, for certain applications, allow for charge and discharge control and also report errors to a head-end system. It uses a triple security system based on a combination of software and hardware security. PBMS may also allow a safe way to connect the battery to different loads and eliminate excessive inrush currents to load capacitors. Moreover, it has been used in a range of applications such as automotive, building energy storage, and remote area storage with all different demands of the product. These diverse applications and the issues met in these applications have made the battery management system, very robust.

Global Power Battery Management System Market Segmentation

The Global Power Battery Management System Market has been broadly segmented based on types, applications and geographies. As per the type, power battery management system market has been segmented as Distributed, Centralized, and Modular. Distributed segment holds the largest market share with a CAGR 10.48% from 2017 to 2022. Whereas, in terms of application, it includes Grid Energy Storage, Specialty Vehicles / Marine / Robots, Telecom / Datacom and Others. In 2016, the power battery management system sales in grid energy storage will reach approximately 2,922.5 in 2022; while the sales market share (%) in grid energy storage was 60.61% in 2016 and will be 61.40% in 2022.

Geographically, Asia-Pacific is expected to show a high rate of growth in power battery management system market over the coming years.

North America held the largest share of the global BMS market in 2015, owing to the rapid adoption of power battery management systems in various applications such as portable device, automotive, renewable energy storage system, and telecommunication in this region. Whereas, Europe also plays an important roles in global market and will be worth million USD 593.8 Million in 2023, with a CAGR of more than 10%. Many countries in Europe such as the U.K., Germany, Italy, and others are rapidly adopting trams and battery-driven buses to reduce emissions and ensure a green city.

Leading Players

We recognize the key players in the global power battery management system market as LG Chem Ltd (Korea), ABB (Switzerland), AES Energy Storage, LLC(U.S.), AEG Power Solutions GmbH (Germany), Eos Energy Storage (U.S.), Greensmith Energy Management Systems (U.S.), HID-europe GmbH + Co. KG (Germany), 1Energy (South Africa), Elithion, Inc. (U.S.) and Su-Kam Power Systems Ltd. (India)

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Anvi

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Anvi
Joined: October 25th, 2019
Articles Posted: 461

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