Battery Management System Market by Type (Motive Battery and Stationary Battery), Battery Type (Lithium-ion, Lead-acid, Nickel-based, Solid-state, Flow battery), Topology (Centralized, Distributed and Modular), Application and Region - Global Forecast to 2028

Abstract
The global battery management system (BMS) market is expected to grow from USD 7.8 billion in 2023 to USD 18.4 billion by 2028, at a CAGR of 18.7% from 2023 to 2028. The battery management system is implemented to manage high-energy batteries efficiently. The functions of the battery management system may vary according to the properties and requirements of the battery it is incorporated into.

The battery management system market based on battery type has been segmented into lithium-ion, lead-acid, nickel-based batteries, and others. Most end users choose the most suitable battery type according to their requirements and the nature of the application. Lithium-ion is a widely used battery in applications such as automobiles and renewable energy systems.

"Renewable energy application to hold a significant share of battery management system market in 2028”

Both on-grid and off-grid renewable energy deployments are witnessing steady growth, with batteries being used for energy storage applications for many years. However, battery storage technology has gained greater traction and supports higher electricity generation levels from renewable energy—particularly wind and solar.

The rapid fall in battery cost has increased the popularity of battery storage as an option for storing electricity from renewable sources at the household, business, and community levels. These batteries need battery management systems for efficient operations, tracking battery voltage, the amount of power consumed, the state of charge of the battery, etc. In addition, the battery management system in renewable energy is required for PV time shift, peak shaving, and grid support.

“Europe is expected to grow at an impressive CAGR during the forecast period”

Germany, France, and the UK are among the major European economies. These countries are technologically developed and are also major manufacturing hubs for the automotive and aerospace & defense verticals. Five countries, Germany, France, the Netherlands, Sweden, and Belgium, accounted for more than three-quarters of all electrically chargeable cars in the EU. As there is a growing trend of adoption for electric vehicles in Europe, the requirement for battery management systems is also expected to increase to effectively manage batteries in electric vehicles.

Major players profiled in this report are: Sensata Technologies, Inc. (Japan), Eberspächer (Germany), Panasonic Holdings Corporation (Japan), and LG Energy Solution, Ltd. (South Korea).

Research Coverage
This report covers the battery management system market in detail, with segmentation based on type, battery type, topology, application, and region. The type segment includes motive battery and stationary battery type. The battery types include lithium-ion, lead-acid, nickel-based batteries, and others. The topology segment includes centralized, modular, and distributed topologies. Further, automotive, industrial, renewable energy, telecommunications, military & defense, and other applications of battery management systems have been covered in this report. The market has also been segmented into four regions—North America, Asia Pacific, Europe, and RoW.

Key Benefits of Buying the Report:
The report would help market leaders/new entrants in this market in the following ways:
This report comprehensively segments the battery management system market and provides the closest approximation of the overall market size and subsegments that include type, battery type, topology, application, and region.
The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities pertaining to the battery management system market.
This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
The competitive landscape section includes the competitor ecosystem and growth strategies, such as product launches and acquisitions conducted by major market players.

Content
Table of Contents

1INTRODUCTION31
1.1STUDY OBJECTIVES31
1.2MARKET DEFINITION31
1.2.1INCLUSIONS AND EXCLUSIONS32
1.3STUDY SCOPE33
1.3.1MARKETS COVERED33
FIGURE 1BATTERY MANAGEMENT SYSTEM MARKET SEGMENTATION33
1.3.2REGIONS COVERED33
FIGURE 2BATTERY MANAGEMENT SYSTEM MARKET: REGIONAL SEGMENTATION33
1.3.3YEARS CONSIDERED34
1.4CURRENCY CONSIDERED34
1.5LIMITATIONS34
1.6STAKEHOLDERS35
1.7SUMMARY OF CHANGES35
2RESEARCH METHODOLOGY37
2.1RESEARCH DATA37
FIGURE 3RESEARCH DESIGN37
2.1.1SECONDARY AND PRIMARY RESEARCH38
FIGURE 4RESEARCH APPROACH38
2.1.2SECONDARY DATA39
2.1.2.1Key secondary sources39
2.1.2.2Key data from secondary sources40
2.1.3PRIMARY DATA40
2.1.3.1Primary interviews with experts40
2.1.3.2Key data from primary sources41
2.1.3.3Key industry insights41
2.1.3.4Breakdown of primaries42
2.2MARKET SIZE ESTIMATION42
2.2.1BOTTOM-UP APPROACH42
2.2.1.1Approaches to determining market size by bottom-up analysis42
FIGURE 5BOTTOM-UP APPROACH43
2.2.2TOP-DOWN APPROACH43
2.2.2.1Approaches to determining market size by top-down analysis43
FIGURE 6TOP-DOWN APPROACH44
FIGURE 7MARKET SIZE ESTIMATION METHODOLOGY THROUGH SUPPLY-SIDE ANALYSIS44
2.3DATA TRIANGULATION45
FIGURE 8DATA TRIANGULATION45
2.4RESEARCH ASSUMPTIONS46
FIGURE 9RESEARCH ASSUMPTIONS46
2.5APPROACHES TO UNDERSTANDING IMPACT OF RECESSION ON BATTERY MANAGEMENT SYSTEM MARKET47
2.6RISK ASSESSMENT47
3EXECUTIVE SUMMARY48
FIGURE 10MOTIVE BATTERIES TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD48
FIGURE 11LITHIUM-ION BATTERY TYPE TO HOLD LARGEST MARKET SHARE BY 202849
FIGURE 12AUTOMOTIVE TO SURPASS OTHER APPLICATION SEGMENTS BETWEEN 2023 TO 202850
FIGURE 13ASIA PACIFIC HELD LARGEST MARKET SHARE IN 202251
3.1BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF RECESSION52
FIGURE 14GDP GROWTH PROJECTION TILL 2023 FOR MAJOR ECONOMIES52
FIGURE 15IMPACT OF RECESSION ON BATTERY MANAGEMENT SYSTEM MARKET53
4PREMIUM INSIGHTS54
4.1ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN BATTERY MANAGEMENT SYSTEM MARKET54
FIGURE 16GROWING ELECTRIC VEHICLE MARKET TO FUEL DEMAND FOR BATTERY MANAGEMENT SYSTEMS DURING FORECAST PERIOD54
4.2BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE54
FIGURE 17MOTIVE BATTERIES TO ACCOUNT FOR LARGEST MARKET SHARE BY 202854
4.3BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE55
FIGURE 18LITHIUM-ION TO SURPASS OTHER BATTERY TYPE SEGMENTS DURING FORECAST PERIOD55
4.4BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY55
FIGURE 19MODULAR SEGMENT TO COMMAND LEADING POSITION BETWEEN 2023 TO 202855
4.5BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION56
FIGURE 20AUTOMOTIVE TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD56
4.6BATTERY MANAGEMENT SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY AND APPLICATION56
FIGURE 21AUTOMOTIVE AND US TO BE LARGEST SHAREHOLDERS IN NORTH AMERICA56
4.7BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY57
FIGURE 22CHINA AND GERMANY TO EXHIBIT HIGHEST CAGR IN BATTERY MANAGEMENT SYSTEM MARKET BY 202857
5MARKET OVERVIEW58
5.1INTRODUCTION58
5.2MARKET DYNAMICS58
FIGURE 23BATTERY MANAGEMENT SYSTEM MARKET DYNAMICS58
5.2.1DRIVERS59
5.2.1.1Growing penetration of electric vehicles59
FIGURE 24ELECTRIC VEHICLE STOCK, BY COUNTRY/REGION, 2010–2020 (MILLION UNITS)59
5.2.1.2High demand for battery monitoring solutions in renewable energy sector60
5.2.1.3Need for effective power grid management60
FIGURE 25BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF DRIVERS61
5.2.2RESTRAINTS61
5.2.2.1Lack of standardization in battery management solutions61
FIGURE 26BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF RESTRAINTS61
5.2.3OPPORTUNITIES62
5.2.3.1Increasing electrification of public transportation62
5.2.3.2Rising demand from data centers62
5.2.3.3Supportive government initiatives for electric vehicles63
5.2.3.4Advantages of wireless battery management systems63
FIGURE 27BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF OPPORTUNITIES64
5.2.4CHALLENGES64
5.2.4.1Complex designing process64
5.2.4.2Impact of external factors on performance64
FIGURE 28BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF CHALLENGES65
5.3VALUE CHAIN ANALYSIS65
FIGURE 29VALUE CHAIN ANALYSIS65
5.4ECOSYSTEM ANALYSIS66
FIGURE 30ECOSYSTEM ANALYSIS66
TABLE 1BATTERY MANAGEMENT SYSTEM MARKET ECOSYSTEM66
5.5PRICING ANALYSIS67
FIGURE 31AVERAGE SELLING PRICE OF BATTERY MANAGEMENT SYSTEMS (USD)68
TABLE 2AVERAGE SELLING PRICE OF BATTERY MANAGEMENT SYSTEMS (USD)69
5.6TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES69
FIGURE 32REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN BATTERY MANAGEMENT SYSTEM MARKET69
5.7TECHNOLOGY ANALYSIS70
5.7.1ARTIFICIAL INTELLIGENCE70
5.7.2DIGITAL TWIN70
5.8PORTER’S FIVE FORCES ANALYSIS70
TABLE 3BATTERY MANAGEMENT SYSTEM MARKET: PORTER’S FIVE FORCES, 202270
5.9KEY STAKEHOLDERS AND BUYING CRITERIA71
5.9.1KEY STAKEHOLDERS IN BUYING PROCESS71
FIGURE 33INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS71
TABLE 4INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%)72
5.9.2BUYING CRITERIA72
FIGURE 34KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS72
TABLE 5KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS72
5.10CASE STUDY ANALYSIS73
TABLE 6CASE STUDY 1: STATE-OF-THE-ART PRT SYSTEM TO TACKLE PUBLIC TRANSPORT ISSUES73
TABLE 7CASE STUDY 2: LEAD BATTERIES AND BATTERY MANAGEMENT SYSTEMS TO MANAGE MICROGRID73
TABLE 8CASE STUDY 3: DESIGNING RELIABLE BATTERY MANAGEMENT SYSTEMS TO OVERCOME COMMON ERRORS73
5.11TRADE ANALYSIS74
FIGURE 35IMPORT OF LITHIUM CELLS AND BATTERIES, BY COUNTRY, 2017–2021 (USD MILLION)74
FIGURE 36EXPORT OF LITHIUM CELLS AND BATTERIES, BY COUNTRY, 2017–2021 (USD MILLION)74
5.12PATENT ANALYSIS75
FIGURE 37COMPANIES WITH MAXIMUM PATENT APPLICATIONS75
TABLE 9TOP 20 PATENT OWNERS IN US75
FIGURE 38NUMBER OF PATENTS GRANTED PER YEAR, 2012–202176
TABLE 10BATTERY MANAGEMENT SYSTEM MARKET: PATENTS, 2021–202276
5.13KEY CONFERENCES AND EVENTS, 2022–202477
TABLE 11BATTERY MANAGEMENT SYSTEM MARKET: CONFERENCES AND EVENTS, 2022–202477
5.14REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS79
TABLE 12NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS79
TABLE 13EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS79
TABLE 14ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS80
TABLE 15ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS80
5.15REGULATORY LANDSCAPE81
TABLE 16STANDARDS RELATED TO BATTERY MANAGEMENT SYSTEMS81
6BATTERY MANAGEMENT SYSTEM, BY COMPONENT82
6.1INTRODUCTION82
FIGURE 39BATTERY MANAGEMENT SYSTEM MARKET, BY COMPONENT82
6.2HARDWARE82
6.2.1BATTERY CONTROL UNITS82
6.2.2POWER MANAGEMENT COMPONENTS83
6.2.3COMMUNICATION COMPONENTS83
6.3SOFTWARE84
 
7BATTERY MANAGEMENT SYSTEM MARKET, BY SYSTEM TYPE85
7.1INTRODUCTION85
FIGURE 40BATTERY MANAGEMENT SYSTEM MARKET, BY SYSTEM TYPE85
7.2STANDALONE BMS85
7.3INTEGRATED BMS85
8BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE86
8.1INTRODUCTION87
FIGURE 41BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE87
FIGURE 42MOTIVE BATTERIES TO ACQUIRE HIGHEST SHARE DURING FORECAST PERIOD87
TABLE 17BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)88
TABLE 18BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)88
8.2MOTIVE BATTERIES88
8.2.1INCREASING DEMAND FROM AUTOMOTIVE SECTOR88
TABLE 19MOTIVE BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)89
TABLE 20MOTIVE BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)89
8.3STATIONARY BATTERIES89
8.3.1WIDESCALE USE IN ENERGY STORAGE APPLICATIONS89
TABLE 21STATIONARY BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)90
TABLE 22STATIONARY BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)90
9BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE91
9.1INTRODUCTION92
FIGURE 43BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE92
FIGURE 44LITHIUM-ION TO HOLD LARGEST MARKET DURING FORECAST PERIOD93
TABLE 23BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)93
TABLE 24BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)93
9.2LITHIUM-ION94
9.2.1GROWING POPULARITY OF ELECTRIC VEHICLES WORLDWIDE94
TABLE 25COMPARISON: LITHIUM-ION BATTERIES VS. LEAD-ACID BATTERIES95
FIGURE 45BEV AND PHEV SALES, BY REGION/COUNTRY, 2020–2021 (THOUSAND UNITS)95
TABLE 26LITHIUM-ION: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)96
TABLE 27LITHIUM-ION: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)96
 
9.3LEAD-ACID96
9.3.1HIGH DEMAND FROM RENEWABLE ENERGY SECTOR96
TABLE 28LEAD-ACID: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)97
TABLE 29LEAD-ACID: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)97
9.4NICKEL-BASED98
9.4.1EXTENSIVE USE IN AUTOMOTIVE SECTOR98
TABLE 30NICKEL-BASED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)98
TABLE 31NICKEL-BASED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)99
9.5OTHER BATTERIES99
9.5.1SOLID-STATE BATTERIES99
9.5.1.1Heavy investments by automakers99
9.5.2FLOW BATTERIES99
9.5.2.1Use in high-energy storage applications99
TABLE 32OTHER BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)100
TABLE 33OTHER BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)100
10BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY101
10.1INTRODUCTION102
FIGURE 46BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY102
FIGURE 47MODULAR TOPOLOGY TO HOLD LARGEST MARKET FROM 2023 TO 2028102
TABLE 34BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)103
TABLE 35BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)103
10.2MODULAR103
10.2.1SUPERIOR COMPUTATIONAL POWER AND ENHANCED SAFETY103
TABLE 36MODULAR TOPOLOGY: ADVANTAGES AND DISADVANTAGES103
FIGURE 48TYPICAL STRUCTURE OF MODULAR BATTERY MANAGEMENT SYSTEM104
TABLE 37MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)104
TABLE 38MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)105
TABLE 39MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)105
TABLE 40MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)105
10.3CENTRALIZED106
10.3.1USE IN MEDIUM POWER APPLICATIONS106
TABLE 41CENTRALIZED TOPOLOGY: ADVANTAGES AND DISADVANTAGES106
FIGURE 49TYPICAL STRUCTURE OF CENTRALIZED BATTERY MANAGEMENT SYSTEM106
TABLE 42CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)107
TABLE 43CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)107
TABLE 44CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)107
TABLE 45CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)108
10.4DISTRIBUTED108
10.4.1SIMPLE DESIGN AND HIGH RELIABILITY108
TABLE 46DISTRIBUTED TOPOLOGY: ADVANTAGES AND DISADVANTAGES108
FIGURE 50TYPICAL STRUCTURE OF DISTRIBUTED BATTERY MANAGEMENT SYSTEM109
TABLE 47DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)109
TABLE 48DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)110
TABLE 49DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)110
TABLE 50DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)110
11BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION111
11.1INTRODUCTION112
FIGURE 51BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION112
FIGURE 52AUTOMOTIVE TO SURPASS OTHER APPLICATION SEGMENTS BY 2028113
TABLE 51BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)113
TABLE 52BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)113
11.2AUTOMOTIVE114
11.2.1GROWING PREFERENCE FOR ELECTRIC VEHICLES114
FIGURE 53GLOBAL EV OUTLOOK, 2020–2030 (MILLION UNITS)114
11.2.1.1Passenger vehicles115
11.2.1.1.1Battery electric vehicles115
11.2.1.1.2Plug-in hybrid electric vehicles115
11.2.1.2Commercial vehicles116
11.2.1.3Other vehicles116
TABLE 53AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)116
TABLE 54AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)117
TABLE 55AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)117
TABLE 56AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)117
 
11.3INDUSTRIAL118
11.3.1INCREASED DEMAND FOR ELECTRIC-POWERED EQUIPMENT118
TABLE 57INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)118
TABLE 58INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)119
TABLE 59INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)119
TABLE 60INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)119
11.4RENEWABLE ENERGY120
11.4.1HIGH ADOPTION OF RENEWABLE ENERGY SOURCES120
TABLE 61TOP 10 COUNTRIES BY TOTAL INSTALLED PV CAPACITY, 2021120
TABLE 62RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)121
TABLE 63RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)121
TABLE 64RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)121
TABLE 65RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)122
11.5TELECOMMUNICATIONS122
11.5.1INCREASED INVESTMENTS BY REGIONAL AUTHORITIES122
TABLE 66TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)122
TABLE 67TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)123
TABLE 68TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)123
TABLE 69TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)123
11.6MILITARY & DEFENSE124
11.6.1NEED FOR RELIABLE AND UNINTERRUPTED POWER124
TABLE 70MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)124
TABLE 71MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)124
TABLE 72MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)125
TABLE 73MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)125
11.7OTHER APPLICATIONS125
TABLE 74OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)126
TABLE 75OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)126
TABLE 76OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)127
TABLE 77OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)127
12BATTERY MANAGEMENT SYSTEM MARKET, BY REGION128
12.1INTRODUCTION129
FIGURE 54BATTERY MANAGEMENT SYSTEM MARKET, BY REGION129
FIGURE 55GERMANY AND CHINA TO BE HIGHEST-GROWING MARKETS FOR BATTERY MANAGEMENT SYSTEMS BY 2028129
TABLE 78BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)130
TABLE 79BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)130
12.2NORTH AMERICA130
FIGURE 56NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET SNAPSHOT131
FIGURE 57US TO ACQUIRE LARGEST MARKET SHARE IN NORTH AMERICA BY 2028132
TABLE 80NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)132
TABLE 81NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)132
TABLE 82NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)133
TABLE 83NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)133
TABLE 84NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)133
TABLE 85NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)133
TABLE 86NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)134
TABLE 87NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)134
TABLE 88NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)134
TABLE 89NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)135
12.2.1US135
12.2.1.1Increased investments in battery manufacturing135
12.2.2CANADA136
12.2.2.1Focus on strengthening battery supply chain136
12.2.3MEXICO136
12.2.3.1Growth in manufacturing industry136
12.3EUROPE137
FIGURE 58EUROPE: BATTERY MANAGEMENT SYSTEM MARKET SNAPSHOT138
FIGURE 59GERMANY TO SURPASS OTHER EUROPEAN REGIONS IN BATTERY MANAGEMENT SYSTEM MARKET139
TABLE 90EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)139
TABLE 91EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)139
TABLE 92EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)140
TABLE 93EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)140
TABLE 94EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)140
TABLE 95EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)140
TABLE 96EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)141
TABLE 97EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)141
TABLE 98EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)141
TABLE 99EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)142
12.3.1GERMANY142
12.3.1.1Presence of prominent automakers142
12.3.2FRANCE142
12.3.2.1Favorable government initiatives and investments142
12.3.3UK143
12.3.3.1Focus on transportation electrification143
12.3.4REST OF EUROPE143
12.4ASIA PACIFIC144
FIGURE 60ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET SNAPSHOT145
FIGURE 61CHINA TO OWN LEADING MARKET POSITION DURING FORECAST PERIOD146
TABLE 100ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)146
TABLE 101ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)146
TABLE 102ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)147
TABLE 103ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)147
TABLE 104ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)147
TABLE 105ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)147
TABLE 106ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)148
TABLE 107ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)148
TABLE 108ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)148
TABLE 109ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)149
12.4.1CHINA149
12.4.1.1High demand for electric vehicles149
12.4.2JAPAN150
12.4.2.1Largescale domestic battery production150
12.4.3INDIA150
12.4.3.1Advances in electric vehicle market150
12.4.4SOUTH KOREA151
12.4.4.1Government subsidies for EV and battery manufacturers151
12.4.5REST OF ASIA PACIFIC151
12.5ROW152
FIGURE 62SOUTH AMERICA TO COMMAND MAXIMUM SHARE OF ROW DURING FORECAST PERIOD152
TABLE 110ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)153
TABLE 111ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)153
TABLE 112ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)153
TABLE 113ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)153
TABLE 114ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)154
TABLE 115ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)154
TABLE 116ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)154
TABLE 117ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)155
TABLE 118ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)155
TABLE 119ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)155
12.5.1MIDDLE EAST156
12.5.1.1Increased funding in renewable energy sources156
12.5.2AFRICA156
12.5.2.1Largescale lithium reserves156
12.5.3SOUTH AMERICA157
12.5.3.1Presence of developing economies157
 
13COMPETITIVE LANDSCAPE158
13.1INTRODUCTION158
13.2KEY PLAYER STRATEGIES158
TABLE 120STRATEGIES ADOPTED BY KEY PLAYERS IN BATTERY MANAGEMENT SYSTEM MARKET158
13.3TOP FIVE COMPANY REVENUE ANALYSIS160
FIGURE 63BATTERY MANAGEMENT SYSTEM MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2017–2021160
13.4MARKET SHARE ANALYSIS, 2022161
TABLE 121BATTERY MANAGEMENT SYSTEM MARKET SHARE ANALYSIS (2022)161
13.5COMPANY EVALUATION QUADRANT, 2022162
13.5.1STARS162
13.5.2EMERGING LEADERS162
13.5.3PERVASIVE PLAYERS162
13.5.4PARTICIPANTS162
FIGURE 64BATTERY MANAGEMENT SYSTEM MARKET: COMPANY EVALUATION QUADRANT, 2022163
13.6SMALL AND MEDIUM ENTERPRISES EVALUATION QUADRANT, 2022164
13.6.1PROGRESSIVE COMPANIES164
13.6.2RESPONSIVE COMPANIES164
13.6.3DYNAMIC COMPANIES164
13.6.4STARTING BLOCKS164
FIGURE 65BATTERY MANAGEMENT SYSTEM MARKET, SME EVALUATION QUADRANT, 2022165
13.7BATTERY MANAGEMENT SYSTEM MARKET: COMPANY FOOTPRINT166
TABLE 122BATTERY MANAGEMENT SYSTEM MARKET: COMPANY FOOTPRINT, 2022166
TABLE 123BATTERY MANAGEMENT SYSTEM MARKET: APPLICATION FOOTPRINT, 2022167
TABLE 124BATTERY MANAGEMENT SYSTEM MARKET: REGIONAL FOOTPRINT, 2022168
13.8COMPETITIVE BENCHMARKING169
TABLE 125BATTERY MANAGEMENT SYSTEM MARKET: KEY STARTUPS/SMES169
TABLE 126BATTERY MANAGEMENT SYSTEM MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES170
13.9COMPETITIVE SCENARIO170
13.9.1PRODUCT LAUNCHES170
13.9.2DEALS172
 
14COMPANY PROFILES174
14.1KEY PLAYERS174
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*
14.1.1EBERSPÄCHER174
TABLE 127EBERSPÄCHER: BUSINESS OVERVIEW174
FIGURE 66EBERSPÄCHER: COMPANY SNAPSHOT175
TABLE 128EBERSPÄCHER: PRODUCTS OFFERED175
14.1.2PANASONIC HOLDINGS CORPORATION177
TABLE 129PANASONIC HOLDINGS CORPORATION: BUSINESS OVERVIEW177
FIGURE 67PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT178
TABLE 130PANASONIC HOLDINGS CORPORATION: PRODUCTS OFFERED178
TABLE 131PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES179
14.1.3RENESAS ELECTRONICS CORPORATION180
TABLE 132RENESAS ELECTRONICS CORPORATION: BUSINESS OVERVIEW180
FIGURE 68RENESAS ELECTRONICS CORPORATION: COMPANY SNAPSHOT181
TABLE 133RENESAS ELECTRONICS CORPORATION: PRODUCTS OFFERED181
TABLE 134RENESAS ELECTRONICS CORPORATION: PRODUCT LAUNCHES182
14.1.4SENSATA TECHNOLOGIES, INC.183
TABLE 135SENSATA TECHNOLOGIES, INC.: BUSINESS OVERVIEW183
FIGURE 69SENSATA TECHNOLOGIES, INC.: COMPANY SNAPSHOT184
TABLE 136SENSATA TECHNOLOGIES, INC.: PRODUCTS OFFERED184
TABLE 137SENSATA TECHNOLOGIES, INC.: PRODUCT LAUNCHES185
TABLE 138SENSATA TECHNOLOGIES, INC.: DEALS185
14.1.5TEXAS INSTRUMENTS187
TABLE 139TEXAS INSTRUMENTS: BUSINESS OVERVIEW187
FIGURE 70TEXAS INSTRUMENTS: COMPANY SNAPSHOT188
TABLE 140TEXAS INSTRUMENTS: PRODUCTS OFFERED188
TABLE 141TEXAS INSTRUMENTS: PRODUCT LAUNCHES189
14.1.6ANALOG DEVICES, INC.190
TABLE 142ANALOG DEVICES, INC.: BUSINESS OVERVIEW190
FIGURE 71ANALOG DEVICES, INC.: COMPANY SNAPSHOT191
TABLE 143ANALOG DEVICES, INC.: PRODUCTS OFFERED191
TABLE 144ANALOG DEVICES, INC.: PRODUCT LAUNCHES192
14.1.7INFINEON TECHNOLOGIES AG193
TABLE 145INFINEON TECHNOLOGIES AG: BUSINESS OVERVIEW193
FIGURE 72INFINEON TECHNOLOGIES AG: COMPANY SNAPSHOT194
TABLE 146INFINEON TECHNOLOGIES AG: PRODUCTS OFFERED194
TABLE 147INFINEON TECHNOLOGIES AG: PRODUCT LAUNCHES195
TABLE 148INFINEON TECHNOLOGIES AG: DEALS195
14.1.8LG ENERGY SOLUTION, LTD.196
TABLE 149LG ENERGY SOLUTION, LTD.: BUSINESS OVERVIEW196
FIGURE 73LG ENERGY SOLUTION, LTD.: COMPANY SNAPSHOT196
TABLE 150LG ENERGY SOLUTION, LTD.: PRODUCTS OFFERED197
TABLE 151LG ENERGY SOLUTION, LTD.: DEALS197
14.1.9NXP SEMICONDUCTORS N.V.198
TABLE 152NXP SEMICONDUCTORS N.V.: BUSINESS OVERVIEW198
FIGURE 74NXP SEMICONDUCTORS N.V.: COMPANY SNAPSHOT199
TABLE 153NXP SEMICONDUCTORS N.V.: PRODUCTS OFFERED199
TABLE 154NXP SEMICONDUCTORS N.V.: PRODUCT LAUNCHES200
TABLE 155NXP SEMICONDUCTORS N.V.: DEALS201
14.1.10STMICROELECTRONICS202
TABLE 156STMICROELECTRONICS: BUSINESS OVERVIEW202
FIGURE 75STMICROELECTRONICS: COMPANY SNAPSHOT203
TABLE 157STMICROELECTRONICS: PRODUCTS OFFERED204
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.
14.2OTHER IMPORTANT PLAYERS205
14.2.1CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED205
14.2.2BYD COMPANY LIMITED206
14.2.3SK INNOVATION CO., LTD.207
14.3OTHER PLAYERS208
14.3.1AMP208
14.3.2AVL LIST GMBH209
14.3.3BMS POWERSAFE210
14.3.4ELITHION, INC.211
14.3.5EWERT ENERGY SYSTEMS, INC.212
14.3.6EXPONENTIAL POWER, INC.212
14.3.7FICOSA GROUP213
14.3.8FUTAVIS GMBH213
14.3.9HANGZHOU XIENENG TECHNOLOGY CO., LTD.214
14.3.10LECLANCHE SA215
14.3.11NUVATION ENGINEERING216
14.3.12POWERTECH SYSTEMS217
14.3.13RICARDO217
14.3.14ROBOTEQ218
14.3.15TRONICO219
14.3.16XING MOBILITY220
15ADJACENT AND RELATED MARKETS221
15.1INTRODUCTION221
15.2BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION221
TABLE 158BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION)221
TABLE 159BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION)222
 
15.3NORTH AMERICA223
15.3.1US223
15.3.1.1Increasing adoption of large-scale battery storage systems in power grids223
15.3.2CANADA224
15.3.2.1Growing focus on advancements in battery energy storage technology224
15.3.3MEXICO224
15.3.3.1Rising demand for electricity224
16APPENDIX226
16.1INSIGHTS FROM INDUSTRY EXPERTS226
16.2DISCUSSION GUIDE227
16.3KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL231
16.4CUSTOMIZATION OPTIONS233
16.5RELATED REPORTS233
16.6AUTHOR DETAILS234