Power Battery Management System Market Research Report - Global Forecast to 2023

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Power Battery Management System Market is expected to grow with CAGR of 10% and
will lead to Market size of US 6,564.6 million by 2022
Market Highlights
Power battery management systems are designed with modular architectures to enable cost-
and performance-optimized scaling. They can be used to manage a range of configurations and
voltages. A battery management system monitors all batteries in a pool and eliminates battery
selection by determining which battery has had the longest cooling time since charging. The
high demand for battery management systems from the renewable energy storage applications
and growing trend of battery-driven public transport, also drives the growth of the market.
Furthermore, overall cost of the device acts as a major restraint for the growth of the market.
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.
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Market Research Future Analysis:
Market Research Future analysis states that the global market of power battery management
system market is estimated to grow at USD 6,564.6 million by the end of year 2023. The
remarkable growth in renewable energy storage applications and growing trend of battery-driven
public transport, also drives the growth of the market. Asia-Pacific is the expected to grow in
power battery management system market across the globe .Power battery management
system market is emerging in countries such as China, India, and Japan, and is estimated to
grow at a high rate in the forecast period. 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.
Key Players
The major players operating in the market of Global Power Battery Management System are
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.)
Su-Kam Power Systems Ltd. (India)
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management-system-market-4609
Table of Content
1... Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3... Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4... Global Power Battery Management System Market, By Type
4.1 Introduction
4.2 Distributed
4.3 Centralized
4.4 Modular
5... Global Power Battery Management System Market, By Applications
Continue………
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