05 September 2019
Visiongain’s new report the Battery Management System Market Report 2019-2029: Forecasts by Type (Lithium-ion-based, Lead-acid-based, Nickel-based, Flow Batteries), by Topology (Centralized, Distributed, Modular), by Application (Automotive, Consumer Electronics, Medical & Healthcare, Military & Defense, Renewable Energy Systems, UPS, Telecommunication) Plus Leading Company Analysis and Regional and Leading National Market Analysis.
Rising Awareness about Need of Battery Management System
The battery management system (BMS) is a critical component of electric and hybrid electric vehicles. The purpose of the BMS is to guarantee safe and reliable battery operation. To maintain the safety and reliability of the battery, state monitoring and evaluation, charge control, and cell balancing are functionalities that have been implemented in BMS. As an electrochemical product, a battery acts differently under different operational and environmental conditions. The uncertainty of a battery’s performance poses a challenge to the implementation of these functions.
The BMS must monitor and regulate the battery based on the safety circuitry built into the battery packs. Whenever any abnormal circumstances are identified, such as overvoltage or overheating, the BMS should notify the user and perform the preset correction operation. In addition to these tasks, the BMS also controls the system temperature for a better system of power consumption and communicates with individual parts and operators
Logistics could be a Pool of Opportunities for BMS manufacturers
The material handling equipment landscape has adopted multiple advanced technologies to address frequent downtimes of equipment. While predictive maintenance is being integrated in fleet management to mitigate the impacts of downtime, fleet owners are incorporating battery management systems in a bid to minimize fleet running cost and enhance operational efficiency.
Because poor battery maintenance results in shorter battery life and runtime, warehouse and fleet owners adopt battery management system equipment that provide effective battery management, reduced downtime, and significant cash spent to alter malfunctioning batteries. Additional advantages of installing the battery management system include saving previously dedicated battery charging warehouse space and safe charging schemes. Well aware of these advantages, fleet owners and distributors owning warehouses are actively adopting battery management technologies to optimize battery performance and boost general operating effectiveness.
Growing Sales of UPS will lead to increasing Demand for BMS
Growing dependence on UPS to boost battery management system Application Power consumption is growing at an exponential rate against the background of urbanization, digitalization and growing dependence on IT infrastructure by companies. In the previous decade, demand for an uninterrupted energy source or UPS has seen a meteoric increase to guarantee a continuous power supply. Furthermore, an uninformed power cut can cause a important financial loss to a company, in turn underlining the significance of UPS, which enables switching to a standby power supply or provides time for critical equipment to be properly shut down.
Circuit Protection is hindering the growth of BMS in High Power Applications
On the back of electric vehicles emerging, the battery industry experienced the growth of high-voltage batteries. Moreover, the need for greater voltage batteries has been produced by growing numbers of electrical parts in automobiles. While the automotive industry is exploring high-powered lithium ion batteries, circuit safety stays extremely critical as its failure can result in heat incidence or contact with the metal structure of the car resulting in an accident.
While developers try to prevent these complexities, there is no single solution for the present battery management system that accommodates circuit safety requirements for the entire high voltage battery scheme. Current apps include combination methods that introduce fresh architectures or classes of voltage to maximize economies of scale. The lack of a conventional application-specific solution in the battery management system continues a major challenge in which substantial investment is made.
Leading Regional & National Analysis
Due to growing penetration of EVs combined with supporting public initiatives, North America is anticipated to experience important development over the forecast era. The U.S. American Recovery and Reinvestment Act provides funding for the development of HEVs for private and public institutions, which is anticipated to have a positive effect on market growth in the near future. As a consequence of promoting public measures such as incentives for EV producers and the exemption of registration charges and road taxes, Europe is also likely to record good development in the Netherlands.
The comprehensive report offers market estimation and forecast for the period ranging 2019 – 2029 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of advanced energy storage systems.
Elithion, Inc., Johnson Matthey PLC, Linear Technology, Corporation Lithium Balance A/S, NXP Semiconductor N.V., Nuvation Engineering, Texas Instruments, Inc., Valence Technology, Inc., Vecture, Inc., Ventec SAS, Toshiba Corporation, L&T Technology Services
Merger, acquisition and cooperation are key business strategies found in the battery management system marketplace. For example, in February 2018, Freemens SAS, a French battery management system supplier, was purchased by ION Energy, a US-based clean tech startup.
In February 2018, Valence Technology, Inc., a supplier of battery modules and packs, was announced by Lithium Werks, a quickly increasing Li-ion battery and mobile energy solution supplier. Lithium Werks intends to distribute the high-quality battery modules and battery management system from Valence with the purchase. In January 2018, Cummins, a gigantic energy sector, purchased Automotive Battery Systems from Johnson Matthey Battery Systems Business.
The Battery Management System Market Report 2019-2029 report will be of value to anyone who wants to better understand the energy storage market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the energy industry.
Notes for Editors
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