Power Battery Management System Market Insights
The global Power Battery Management System Market is likely to gain a
valuation of USD 6,564.6 Million by 2023. The market has also been observed to
be proliferating at a CAGR of 10% and above which also states that the market
has a bright future in the coming years.
This report has been gathered by research analysists
of Market Research Future Reports, which studies on various aspects of the
market with their trending tracks, future opportunities, regional occupancy and
more. The market of power battery management system has gained much traction
since past years and is still on the streamline of obtaining more valuation
with the growing need for battery management in electric vehicles.
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Power Battery Management System Industry
Highlights
Power battery management systems allow charging and
discharging control and report errors to a head-end system for specific
applications. It generally uses a triple security system on a combination of
software and hardware security. Such a battery system also might allow a safe
way to connect the battery to different loads and eliminate excessive current
flow to load capacitors. Moreover, it has also been used more in automotive,
building energy storage, and remote area storage with all different demands of
the product. These diverse applications have made the battery management system
more and very robust. A detailed analysis report of COVID-19 impact on Power Battery Management System Market is provided with the
report.
Global Power Battery
Management System Market Segmentation:
The
Market Research Future report offers a wide segmental analysis of the power
battery management system market based on type and applications.
Based
on type, the power battery management system market is segmented into modular,
centralized, and distributed.
Based
on applications, the power battery management system market is segmented into
datacom, telecom, robots, marine, specialty vehicles, grid energy storage, and
others.
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Report at: https://www.marketresearchfuture.com/reports/power-battery-management-system-market-4609
Prominent Players
The
major players operating in the market of global power battery management system
are LG Chem Ltd (South Korea), ABB (Switzerland), Robert Bosch GmbH (Germany),
AES Energy Storage (U.S.), Continental AG (Germany), Kefico Corporation (Korea
), AEG Power Solutions (Germany), Greensmith Energy (U.S.), Su-Kam Power
Systems Ltd (India), Exide Industries Limited (India)
Regional Analysis
Region-wise,
Asia Pacific has accounted for the largest market share and is probably to
cultivate at a CAGR of 11.85% by 2023. Asia-Pacific region is known for a
cumulative energy storage capacity of 73.51 GW, where open pumped hydro storage
contributed about 72.6 GW and the remaining 0.91 GW capacity came through
batteries and thermal, chemical & electrochemical energy storage.
Whereas,
North America held the largest share of the global power battery management
system market in 2016 owing to the swift espousal of power battery management
systems in various applications such as portable device, automotive, renewable
energy storage system, and telecommunication in this region. The U.S. is one of
the major revenue generators of power battery management system that is
expected to bring ample opportunities to invest or increase the production
capacity.
The
power battery management system market in Europe will have a notable growth
over the forecast period. This region is helping to address new challenges
taking place in the energy system by promoting various innovation in major
technologies and creating suitable market rules. Germany is the key contributor
here. Energy storage market in Germany has experienced a lot of improvements
recently owing to the ambitious energy transition in Germany. The technological
enhancements in battery systems have resulted in the growth of the power
battery management system market in this region.
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