Battery Management Module Market Size, Analysis Report

The Battery Management Module market was valued at US$ 4,604.6 Million in 2020 and is expected to grow at a CAGR of 14.0% from 2020 to 2027 to reach US$ 14,513.5 Million by 2027.

In the past few years, government initiatives to promote the adoption of cleaner transportation options have been growing at an impressive rate. European Union, China, Japan, Canada, India, and South Korea are some of the major geographies where governments are proactively taking steps to increase the adoption of electric vehicles especially buses and trucks. For instance, in the European Union there were some significant policy changes were made. These initiatives include improvements in fuel economy standards for trucks and ‘Clean Vehicles Directive’ that is focused on the procurement of electric buses by government. Another directive called ‘Energy Performance Buildings Directive’ is also formed which sets minimum standards for setting up charging infrastructure in buildings. Japan is another example where fuel economy standards were revised for trucks and through Japan’s automotive strategy, the country is expected to reduce 80% of its automotive greenhouse gas emissions by the year 2050. Such favorable initiatives are anticipated to boost the adoption of heavy duty electric vehicles such as trucks and thus drive the adoption of battery management modules during the forecast period of 2020 to 2027.

The COVID-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day, which affects the world's technology supply chain too. The COVID-19 lead towards the emergence of uncertainty in the stock market, massive slowing of the supply chain, falling business confidence, as well as increasing panic among the population. The overall effect of the pandemic is impacting the production process of several industries, such as consumer electronics, automotive, aerospace and defense, energy, and many more. As the government of the different region has already announced total lockdown as well as temporarily shutdown of industries which is affecting the overall production process. Thus, hinder the overall Battery Management Module market globally.

Various companies in the Europe and North America focusing on R&D initiatives by various companies and rising investments are further complementing the growth of the global Battery Management Module market. Some of the key Battery Management Module manufacturers include NXP Semiconductors N.V., Johnson Matthey, Texas Instruments Incorporated, Renesas Electronics Corporation, Nuvation, Analog Devices, Inc, Elithion Inc, L&T Technology Services Limited, Lithium Balance, and Leclanche.

Lucrative Regional Battery Management Module Market

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Market Insights

Increasing demand and adoption of electric vehicles worldwide

In the past few years, electric mobility has been growing at an unprecedented rate. The sales of electric vehicles are expanding at a fast pace owing to increasing concerns regarding environmental protection and favorable government policies to boost the adoption of electric vehicles worldwide. As per Global EV Outlook 2019 of International Energy Agency (IEA), electric vehicles in freight transport especially light-commercial vehicles (LCVs) reached 2, 50,000 units in the year 2018. Medium electric truck sales also reached to around 1,000 to 2,000 units in the same year. Presently, China is the leading market for electric vehicles followed by Europe and the US. Government polies plays a crucial role in the development and growth of electric vehicle market worldwide. Countries that are leading in electric mobility have various measures in place for the promotion of electric mobility such as fuel economy standards and zero & low emission vehicle incentives. In addition to this, continuous technology advancements in battery chemistry and expanding production capacity of electric vehicle manufacturing plants are leading to cost cuts and hence driving the growth of electric vehicles. The encouraging support from private sector is another complementing factor that is driving the electrification of transport worldwide. Multiple vehicle manufacturers are making announcements about their intentions and plans to launch electric cars, buses, and trucks. Growing investments in charging infrastructure, expanding battery manufacturing, and favorable government policies are some of the major factors that are anticipated to drive the demand for battery management modules during the forecast period of 2020 to 2027.    

Topology Type Insights

A distributed battery management module consists of a cell string or cell integrated with its specific battery management module. Cell battery management modules offer measurement of operating parameters and communication. A distributed battery management module is sub-categorized into a master and numerous battery modules, which are used for real-time monitoring as well as reporting the condition of battery operation. The distributed battery management module combines distributed data collection and central control management. It reduces the costs and increases scalability, flexibility, and adaptability, as a distributed battery management module comprises smart battery cell monitoring. The smart battery cell monitoring is integrated for monitoring along with a data transmission interface for bidirectional communication between the batteries. The distributed battery management module functions as the master and controls energy storage at the system level.     

Global Battery Management Module Market, by Topology Type – 2019 & 2027

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Note: The inner circle in the above figure represents the market share of type segment in the year 2019, and outer circle represents the market share of type segment in the year 2027.

Component Insights

A battery management module basically comprises a number of functional blocks, such as cutoff field-effect transmitters (FETs), cell-voltage monitor, fuel-gauge monitor, cell-voltage balance, temperature monitors, real-time clock, and a state machine. The battery management module also consists of integrated circuits. The FETs behavior is foreseen on the measurements from battery-cell current, voltage, and real-time detection circuitry. The battery management module integrates two types of FET connections between the load, charger, and the battery pack. The cell-voltage monitor tracks the voltage of each and every cell present in a battery pack, which is vital to control its overall health of the system. The fuel-gauge monitor tracks the charge entering and exiting the battery pack.      

Strategic Insights

The market initiative is a strategy basically adopted by the companies to expand their footprint across the world and to fulfill the growing demand of the market. The players present in battery management module market mainly concentrate on the partnership, contractual alliances, and joint initiatives to grow their market share. Most of the market initiatives are observed in Europe and North America regions, which have high potential to accelerate the battery management module market. Few of the recent development are listed below.

• 2020:

  NXP collaborated with Volkswagen centered on the electronics for electric vehicles (EVs). Volkswagen adopted NXP’s battery management system (BMS) into its innovative MEB platform to help increase vehicle range, extend battery longevity, and enhance safety.   

• 2020:

  Varroc Engineering Limited, has entered into agreement to manufacture EV Battery Management System (BMS) in India for Lithium Balance A/S, a Danish BMS solutions provider.  

Global Battery Management Modules Market – By Topology Type

• Distributed
• Centralized
• Modular

Global Battery Management Modules Market – By Component

• Hardware
  • Battery Control Unit
  • Power Module
  • Communication Channel
• Software

Global Battery Management Modules Market – By End-User

• Automotive
• Medical
• Power & energy
• Consumer Electronic
• IT & Telecom
• Others

Global Battery Management Modules Market – By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Italy
  • Germany
  • Russia
  • UK
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Rest of APAC 

Companies Profiles

• NXP SEMICONDUCTORS N.V.
• Johnson Matthey
• Texas Instruments Incorporated
• Renesas Electronics Corporation
• Nuvation
• Analog Devices, Inc
• Elithion Inc
• L&T TECHNOLOGY SERVICES LIMITED
• Lithium Balance
• LECLANCHE