Global Automotive Battery Management System Market 2016-2020
About Automotive Battery Management System
A battery management system (BMS) is an electronic system that helps to monitor and manage the lifecycle of rechargeable batteries. This system helps to maintain optimum battery health by monitoring every charging cycle, controlling the load fluctuations, and balancing the charging levels.
Technavio’s analysts forecast the global automotive battery management system market to grow at a CAGR of 22.17% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive battery management system market for 2016-2020. To calculate the market size, the report considers a bottom-up approach, which accounts for the total revenue of key vendors and total unit sales of major electric vehicles in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Battery Management System Market 2016-2020
Technavio recognizes the following companies as the key players in the global automotive battery management system market: DENSO, Johnson Matthey battery systems, LG Chem, and Lithium Balance.
Other Prominent Vendors in the market are: Ashwoods Energy, Calsonic Kansei, Clayton Power, Elithion, Hitachi Automotive Systems, Mitsubishi Electric, Preh, Tesla Motors, and Ventec.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is advances in technology. Over the years, the advances in technology have led to the rising use of various battery-operated devices worldwide. This, in turn, has resulted in an increase in energy consumption, especially batteries. EVs and PHEVs are being increasingly equipped with innovative features such as GPS, modern powertrain systems, AC systems, power windows, and display drives that give real-time information about battery charge levels and consume a substantial amount of battery power. Therefore, EVs lose their battery power in a shorter time and require frequent charging. Thus, there is an increased need for efficient and optimal work cycle of rechargeable batteries, which has led to the growth of the global BMS market in the automotive sector.”
According to the report, one of the major drivers for this market is increasing demand for H&E vehicles. Hybrid and electric vehicles are powered mainly by batteries. The battery pack in an HEV needs to tolerate massive charge (for sudden braking) and heavy discharge (for sudden speed boost). In addition, the SoC must be kept up to 80%, keeping space for regenerative charging, while simultaneously discharging sufficiently for a power boost. Hence, BMS is a crucial feature in these vehicles, guaranteeing healthy battery operations.
Further, the report states that one of the major factors hindering the growth of this market is lack of proper standards for development of BMS. The global BMS market sees the presence on many vendors who develop BMS solutions according to each battery specification. This varies in terms of the applications in which they are installed, the functions they provide, and the technical specifications.
DENSO, Johnson Matthey battery systems, LG Chem, Lithium Balance, Ashwoods Energy, Calsonic Kansei, Clayton Power, Elithion, Hitachi Automotive Systems, Mitsubishi Electric, Preh, Tesla Motors, Ventec.
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