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Global Battery Management Systems : Rising Adoption of Electric Vehicles, Energy Storage, and Aerospace & Defense Equipment Makes BMS Ubiquitous
A battery management system (BMS) is the brain behind the battery pack. It monitors and protects cells in a battery pack. The BMS market is diverse, with multiple applications that use a large number of battery packs. Rising demand for electric vehicles, energy storage systems, and aerospace and defense equipment powered by batteries make BMS an important component in daily life. BMS has evolved from a mere monitoring unit to an advanced, intelligent unit that decides what a battery should do at different modes of operation. This Market Insight discusses growth prospects and the highest BMS demand by application and region. It also examines the top market participants globally.
Battery management systems (BMS) are synonymous with the battery market, as most battery applications need BMS to monitor their state of health. Both follow the same growth pattern.
- BMS for electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) is the highgrowth application; BMS accounts for % of the total battery cost.
- The increasing role of renewable integration is driving demand for stationary applications, including energy storage in residential, commercial, and industrial equipment. Telecom backup that includes both lithium-ion and lead acid battery usage is an important energy storage segment driving BMS demand.
- Aerospace and defense (A&D) is another important application driving BMS, where it is used for multiple battery chemistries and is available with much simpler, yet robust design and construction.
- The BMS market is becoming highly competitive, fragmented, and commoditized; exclusive BMS manufacturers have to compete against battery manufacturers and integrators, as well as power electronic component manufacturers.
- The United States, Germany, France, the United Kingdom, Italy, Saudi Arabia, Israel, Turkey, China, Japan, and South Korea contribute significantly towards BMS revenue.
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