Battery Management System (BMS) Market - Global Industry Forecast 2024

Global Battery Management System Market: Overview

A battery management system (BMS) is an electronic framework that deals with a rechargeable battery. The most vital function that a battery management system does is cell defense and thus it ensures long life of a battery. To guarantee that a battery's charge does not go beyond or under its limit, it has a defending unit called as lithium-ion protector, which protects the cell from getting damaged. If lithium ion battery cells get overcharged they may possibly get damaged due to excessive heating. Thus, it is important to have a battery management system in order to provide overvoltage protection.

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Battery management system also provides energy management. Battery management systems for certain applications such as the hand-held point-of-sales (POS) terminals also include an implanted charger which consists a control device, an inductor and a discharger. The controller device handles the charging procedure. For lithium-ion cells, the best charging procedure is continuous current and continuous voltage. A battery pack typically consists of numerous discrete cells that work in combination. In an ideal world, all the cells in battery pack must be kept at equal state of charge. If the cells go unstable, every single cell can get strained and lead to premature charge termination and a lessening in the overall life of the battery.

Global Battery Management System Market: Drivers and Restraints

The key factors that are expected to aid the growth of battery management system market are innovations in automotive segment including e-vehicles. The demand for e-vehicles has been growing significantly in recent years and automotive manufacturers are investing heavily in such solutions. For instance, in December 2015, Porsche AG, an automobile manufacturer announced a large investment of around US$1.08 Bn to build a plant to manufacture all-electric sports cars. The use of unmanned vehicles such as drones in defense activities and need of long lasting batteries for cellular phones and portable computers such as laptops are also aiding the growth in demand for battery management systems. The cellphone makers such as Samsung Electronics Co., Ltd., Motorola Mobility LLC and LG Electronics are vying to offer best in class battery for their high-range smartphones. These phones consume battery rapidly due to presence of new highly demanding features including 4G functionality. Thus, the companies are incorporating battery management system (BMS) to monitor and control the batteries used in these devices.

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Wireless BMS and BMS supporting all the cell types are recent trends in the market and are expected to gain significant traction during the coming years. Industry verticals deploying battery management systems include automotive, energy, telecom, defense, consumers. On the basis of topologies, BMS can be classified as centralized, distributed and modular, which is based upon the use of controller in BMS.

Global Battery Management System Market: Competitive Landscape

The market for battery management systems is expected to become increasingly competitive during the coming years and the focus of key players is expected to be on research and development along with partnerships. The key original equipment manufacturers (OEMs) of BMS include Ventec S.A.S., Nuvation, Ashwoods Energy Limited, Tws, Lithium Balance, Vecture Inc., Toshiba America, Inc., LARSEN & TOUBRO LIMITED, Merlin Equipment Ltd., AVL, Navitas System, LLC Corporate and Johnson Matthey.