The global automotive BMS market was valued at around $34 million in 2015 and is expected to surpass $51 million by 2020, says Technavio.
Technavio has announced its latest market research report on automotive BMS for the forecast period, 2016-2020. This market analysis, under the automotive electronics vertical, discusses the major drivers and key emerging trends that will influence the growth of the global automotive BMS market during the forecast period. Some of the top vendors listed in this industry analysis include DENSO, Johnson Matthey battery systems, LG Chem, and Lithium Balance.
Among various regions, APAC will be the fastest-growing region in the global market, and is expected to contribute revenues of around $6 million by 2020. Much of the region’s growth can be attributed to the high sales of H&E vehicles.
“The technological advancements in the automotive sector have increased the use of various battery-operated devices worldwide. EVs and PHEVs are being increasingly equipped with innovative features such as modern powertrain systems, GPS, power windows, AC systems, and display drives. These feature consume lot of batteries which calls for the need of efficient and optimal work cycle of rechargeable batteries, leading to the growth in the global BMS market,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive electronics.
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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increasing demand for H&E vehicles
Hybrid and electric vehicles are mainly powered by batteries and the adoption rate of BMS by HEVs is expected to reach around 100% by 2020 due to the high market growth of hybrid and electric vehicles during the forecast period. The battery pack in an HEV needs to tolerate massive charge and heavy discharge which make BMS a critical feature in these vehicles. The HEV and EV markets worldwide will register huge growth during the forecast period due to the push towards green cars that are offering the best solution to the problem of fuel emissions. Several countries globally are imposing strict emission norms and are also providing various incentives and tax benefits to upsurge the use of green vehicles. Moreover, governments are making efforts worldwide to minimize the adverse effects of global warming and reduce GHG emissions.
BMS boosts Li-ion battery performance
Lithium-ion batteries are extensively used in EVs. Although technological advances have improved the battery life, safety concerns challenge the adoption of Li-ion batteries, so to maintain safe operations, a BMS becomes indispensable. The various problems arising in Li-on battery use in EVs are when the voltage exceeds the upper charging limit causes overheating and if the battery over discharges the electrodes will be damaged progressively. All these factors lead to the adoption of BMS as it limits the peak voltage during charging, and retains the battery temperature, resulting in a safe area of operation in all situations.
Shorter calibration phase during charging leads to lower power consumption and CO₂ emissions
The adoption of BMS in HEVs is increasing owing to its short time, high power balancing feature which happens during regenerative braking where the cells must be kept at less than 80% SoC to occupy the additional energy flowing to it. The battery packs used in HEVs are smaller and operate at high charging and discharging rates for shorter durations which mandates the use of a BMS to keep energy states well balanced. If the battery pack is not well balanced during regenerative braking charging, the prolonged action decreases the usable battery capacity and reduces the HEV’s performance. The reduction in performance makes the BMS imperious to manage the available energy based on the battery.
Some of the other prominent vendors identified in this report are Ashwoods Energy, Calsonic Kansei, Clayton Power, Elithion, Hitachi Automotive Systems, Mitsubishi Electric, Preh, Tesla Motors, and Ventec.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive BMS Packaging Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Battery Monitoring Solutions Market 2016-2020
- Global Primary Battery Market 2016-2020
- Global Battery Market for E-scooters 2016-2020
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