The global battery management system (BMS) market size is anticipated to reach USD 11.17 billion by
2025, according to a new report by Grand View Research, Inc. The growing trend
of renewable energy generation was driven by the increasing concerns of climate
change across the globe. Additionally, the decreasing prices of solar
photovoltaic cells, favorable government incentives, and the declining costs of
batteries are likely to increase the renewable energy generation.
However, the energy
generated via the wind and solar sources is affected by weather, location, and
time. Batteries used at wind turbines and in solar panels smooth the
variabilities and store energy for future use. The prevailing safety issues,
the resistance from utilities, and regulatory barriers have restricted the
integration of these batteries into mainstream power systems.
Electricity grids are
undergoing modernization with the implementation of power flow measurement and
controlling power production & distribution and are gathering information
on electricity use. Storage is a major barrier to the adoption of renewable
energy. Several battery technologies including lead-acid, lithium-ion, and
sodium sulphate have been developed and tested for applications such as grid
investment deferral and arbitrage.
Energy storage systems
(ESS) aid in storing renewable energy sources for further commercial use. The
increasing demand for ESS is expected to augment the market demand over the
forecast period. Lead-acid batteries are the most commonly used battery types
in ESS, owing to applications such as standalone battery systems used to handle
output fluctuations from the wind and solar power.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/battery-management-system-bms-market
Further key findings from the report suggest:
·
The growing penetration of UPS solution in
businesses to counter data loss is expected to spur the demand for BMS
·
Lithium-ion batteries are used in
applications requiring high-energy density solutions
·
The lithium-ion based battery type is
anticipated to witness a significant growth with a CAGR of over 22% over the
projected period
·
Centralized topology is anticipated to
dominate the market in terms of revenue over the forecast period, owing to the
increasing applications such as industrial UPS, Electric Vehicles (EV), drones,
and energy storage system
·
The stringent regulations toward carbon
emissions in the developed countries and the growing penetration of EVs in the
emerging economies are expected to spur the automotive application demand
·
The Asia Pacific region is anticipated to
portray high growth rate over the forecast period
·
The key players in the BMS market include
Texas Instruments, Inc. (U.S.), NXP Semiconductor N.V. (Netherlands), Elithion,
Inc. (U.S.), and Vecture, Inc. (U.S.)
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has
segmented the battery management system market based on battery type, topology,
application, and region:
BMS Battery Type Outlook (Revenue, USD Million, 2014 -
2025)
·
Lithium-ion based
·
Nickel based
·
Lead-acid based
·
Flow batteries
BMS Topology Outlook (Revenue, USD Million, 2014 - 2025)
·
Centralized
·
Distributed
·
Modular
BMS Application Outlook (Revenue, USD Million, 2014 -
2025)
·
Automotive
·
Consumer electronics
·
Energy
·
Defense
BMS Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
o France
o Netherlands
o Norway
·
Asia Pacific
o China
o India
o Japan
·
South America
o Brazil
·
Middle East and Africa (MEA)
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-battery-management-system-bms-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: http://www.grandviewresearch.com
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