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.
View summary of this report @ 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.)
Read our blog on battery management
system market: http://www.grandviewresearch.com/blog/battery-management-system-bms-market-size-share
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)
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
No comments:
Post a Comment