Power Battery Management System Market Research Report - Global Forecast till 2027

Power Battery Management System Market: Information by Type (Distributed, Centralized and Modular), by Applications (Grid Energy Storage, Specialty Vehicles/Marine/Robots and Telecom/Datacom) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast 2027

ID: MRFR/E&P/3189-CR | February 2020 | Region: Global | 111 pages

Power Battery Management System Market Overview


Power Battery Management System Market is expected to grow at USD 14042.04 Million by 2027 with 18.59% CAGR during the forecast period.


The power battery management system market is expected to witness substantial growth during the forecast period. Aisa-Pacific is estimated to be a prominent region for power battery management system market owing to the increasing demand for developing renewable energy sources and reduction of carbon footprint in the region. China holds the largest market share in the Asia-Pacific region, owing to the emerging need for the electric vehicles market in the region. Moreover, North America is expected to be the second-largest market for power battery management system market during the forecast period. The US is expected to be the leading market in the North America power battery management system market owing to the development of battery-powered automobiles that drive the battery management system market in the country.


Key Competitors


The key players of global Power Battery Management System market are ABB (Switzerland), Robert Bosch GmbH (Germany), The AES Corporation (US), Continental AG (Germany), Hyundai Kefico Corporation (South Korea), AEG Power Solutions (Netherlands), Wärtsilä (US), Su-Kam Power Systems Ltd (India), Exide Industries Limited (India), Nuvation Energy (US), Roboteq (US), Sedemac (India), Lincad Ltd (UK), and Lincad Ltd (UK).


Segmentation


The global power battery management system market has been segmented based on type, application, and region. Based on type, the global power battery management system market has been segmented into distributed, centralized, and modular. Centralized holds the largest market share in the battery management system market. Centralized power battery management system provides one printed circuit board with one microchip. Decentralized power battery management system has been expected to be the second-largest market for power battery management system market.


On the basis of application, the global power battery management system market has been segmented into grid energy storage, specialty vehicles/marine/robots, and telecom/datacom. Grid energy storage holds the largest market share, owing to its features of storing energy when energy demand is higher than the energy produced. Telecom/Datacom is expected to be the second-largest market for power battery management system market due to its application in the telecom industry to protect the systems from power fluctuations.


Regional Analysis


Region-specific analysis of the power battery management system market spans across North America, Europe, Asia-Pacific, and the rest of the world.


Global Power Battery Management System Market, by Region, 


 Power Battery Management System Market


Source: MRFR Analysis


Synopsis


The global power battery management system market has been segmented on the basis of type, application, and region. Based on type, the market has been divided into distributed, centralized, and modular. Furthermore, based on application, the power battery management system market has been segmented into grid energy storage, specialty vehicles/marine/robots, and telecom/datacom. While, on the basis of region, the power battery management system market has been segmented into North America, Europe, Asia-Pacific, and rest of the world.



  • In September 2017, ABB signed a memorandum of understanding (MOU) with Northvolt AB (UK) and established Europe’s most advanced lithium-ion battery factory in Sweden. This helped the company to supply customized and high-quality batteries to the automotive and critical industries in the European market.


Market Segmentation



  • By Type: Centralized, distributed, and modular

  • By Application: Grid energy storage, specialty vehicles/ marine/ robots, and telecom/datacom

  • By Region: North America, Europe, Asia-Pacific, and rest of the world


Key Questions Addressed by the Report



  • What was the historic market size (2018 and 2019)?

  • Which segmentation (Material/Voltage/Application/Region) is driving market growth?

  • What will be the growth rate by 2027?

  • Who are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 14042.04 Million
  CAGR   18.59% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ABB (Switzerland), Robert Bosch GmbH (Germany), The AES Corporation (US), Continental AG (Germany), Hyundai Kefico Corporation (South Korea), AEG Power Solutions (Netherlands), Wärtsilä (US), Su-Kam Power Systems Ltd (India), Exide Industries Limited (India), Nuvation Energy (US), Roboteq (US), Sedemac (India), Lincad Ltd (UK), and Lincad Ltd (UK)
  Key Market Opportunities   New product launches and R&D amongst major key players
  Key Market Drivers

  • Increasing demand for developing renewable energy sources
  • Reduction of carbon footprint in the region


  • Frequently Asked Questions (FAQ) :


    The market is set to surge at a high rate of 18.59% during the review period.

    The market size is estimated to reach USD 14042.04 Million by 2027.

    As per the report, who are the renowned players in the global market are Exide Industries Limited (India), The AES Corporation (US), ABB (Switzerland), Wärtsilä (US), Robert Bosch GmbH (Germany), Sedemac (India), Lincad Ltd (UK), Continental AG (Germany), Lincad Ltd (UK), Su-Kam Power Systems Ltd (India), Hyundai Kefico Corporation (South Korea), Nuvation Energy (US), Roboteq (US), AEG Power Solutions (Netherlands), and others.

    The types of power battery management system mentioned in the report include distributed, modular and Centralized.

    The applications of power battery management system are specialty vehicles/ marine/ robots, telecom/Datacom as well as Grid energy storage.

    Grid energy storage is the leading application-based segment in the market.

    Rapid development of battery-powered automobiles makes the U.S the leading market in North America.