London, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Rising green energy significance, and accelerated expansion of e-mobility collectively drive the sales of battery management systems worldwide. Global battery management system market will largely gain from mounting demand for electric and hybrid electric vehicles that boost the adoption rate of battery management systems. While the market registered revenue worth US$4.6 Bn in the year 2019, the report anticipates market valuation to reach nearly US$28.4 Bn by the end of 2029. At a stellar CAGR of 19.8% projected between 2022 and 2029, battery management system market is all set to display phenomenal growth during the period of assessment. Fairfield Market Research offers a detailed growth analysis and forecast of the market in its latest released report.

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Key Research Insights

Insights into Segmental Analysis

The report points to continued dominance of lithium-ion battery on account of extensive application across industries, especially automotive, and consumer electronics. With over 41% value share in global battery management system market, Li-ion battery will maintain pre-eminence throughout the forecast period. Application-wise analysis of the market shows dominance of automotive battery management systems over the systems used across energy storage, consumer electronics, military and defense, telecommunication, healthcare, and renewable energy industries. However, power generation, and communications are likely to represent highly lucrative segments in battery management system market. Based on topology, distributed topology is likely to remain dominant with more than 50% share, followed by centralized topology segment. The report however projects higher growth potential for modular topology in line with escalating demand for essential components of electric cars, medical mobility vehicles, commercial drones, and energy storage systems.

Key Report Highlights

Insights into Regional Analysis

With the current revenue share of 30%, North America spearheads global battery management system market. The region will retain lead throughout the period of projection and is anticipated to demonstrate a whopping 19.4% growth through the end of 2029. Strong presence of some of the globally leading industry players primarily account for the prime positioning of North America in addition to an established small and medium business sector that encourages adoption of battery management systems for improved performance. The uptake here will be on an uptrend as the region provides a highly favourable ground for electric and hybrid electric vehicle sales. The role of governments remains crucial, says the report. Together, North America, and Europe account for a share of over 55%. On the other hand, Asia Pacific that currently captures more than 1/4th of the overall market valuation is expected to witness fastest growth during 2022 – 2029. In addition to wide application across automotive, telecom, and electronics industries, battery management system market in Asia Pacific will significantly benefit from rapid expanse of renewables sector, and e-mobility.

Leaders in Global Battery Management System Market Space

Elithion Inc, Marelli Holdings Co., Ltd, Analog Devices, Eberspächer, Panasonic Industry Co., Ltd, Johnson Matthey, Leclanché SA, Nidec Motor Corporation, Navitas System, LLC, Nuvation Energy, Texas Instruments, Sedemac

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REPORT SCOPE

Report AttributesDetails
Base Year2021 
Forecast Year2022 – 2029
Market Size in 2019US$4.6 Bn
Estimated Market Size in 2029US$28.4 Bn
CAGR19.8% 
Key PlayersAnalog Devices, Eberspächer, Elithion Inc, Johnson Matthey, Leclanché SA, Marelli Holdings Co., Ltd, Navitas System, LLC, Nidec Motor Corporation, Nuvation Energy, Panasonic Industry Co., Ltd, Sedemac, and Texas Instruments

Market Segmentation

Battery Coverage

Topology Coverage

Application Coverage

End Use Coverage

Geographical Coverage

Leading Companies

Report Inclusions

About Us

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