Battery Management System

Global Battery Management System Market Is Estimated To Reach USD 32.2 Billion By 2032

Technology

The global battery management system market is estimated at USD 5.4 Billion in 2022 and is forecast to reach USD 32.2 Billion by 2032, growing at an exciting CAGR of 19.6% during 2022-2032.

Fact.MR- a market research and competitive intelligence provider, foresee a thriving growth in battery management system demand. The global battery management system market is expected to grow at 19.6% CAGR during 2022-2032 and surpass the value of USD 32.3 Billion by the end of 2032. The global battery market valued around USD 90 Billion in 2021, whereas, battery management system market holds ~5% in it.

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Key Segments Covered

  • By Topology

    • Centralized
    • Modular
    • Distributed
  • By Components

    • Battery Management Unit
    • Communication Unit
  • By Application

    • Automotive
    • Energy
    • Telecommunication
    • Consumer Handheld

Competitive Landscape

Fact.MR profiled the following key battery management system manufacturers in its report are Eberspaecher Vecture Inc, Toshiba Corporation, AVL LIST GmbH, Lithium Balance A/S, Johnson Matthey Plc., Texas Instruments, NXP Semiconductors N.V, Nuvation Engineering, Merlin Equipment, Renesas Electronics Corporation, Elithion, Inc. Key manufacturers are constantly innovating product designs to meet the modern day challenges pertaining to components placement in the engine environment.

For Instance:

  • AVL LIST GmbH in 2021, has opened up its new research center in Graz, Europe. This will lead to development of new high-voltage batteries for electric vehicles, the focus is on product launching, executing and authorizing new efficient production processes.
  • Texas Instruments in 2021, had launched battery management system wireless in nature for EVs. The company’s new battery management system (BMS) allows to control wirelessly, saving weight and eliminating troublesome cabling.

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