Battery Management System Market Trends and Forecast 2024


Battery Management System (BMS) is a supportive system that manages, monitors, and controls battery operations and parameters. The Battery Management System Market is estimated to be valued at USD 5.2 billion in 2019 and is projected to reach USD 12.6 billion by 2024, at a CAGR of 19.5%. The growth of this market is expected to be driven by increasing requirement of battery monitoring in renewable energy systems, need for effective electric grid management, and growing trend of electric vehicles.

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Leclanche (Switzerland), Lithium Balance (Denmark), and Nuvation Engineering (US) are among the key players in the Battery Management System Market.

Leclanche (Switzerland) is largely involved in offering energy storage solutions, mainly dealing with lithium-ion cell technology aiming for cleaner energy. The company offers specialty battery systems, stationary solutions, e-transport solutions and battery, and energy management systems. The company offers in-house battery management systems by partnering with a hardware company. The company is substantially involved in offering BMS technologies and suites of BMS software. The products offered by the company are either high voltage or low voltage Battery Management Systems. These BMSs are manufactured by the company as per the industry standards.

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Lithium Balance (Denmark) is well known for the manufacturing and distribution of Battery Management Systems for rechargeable lithium-ion batteries meeting the safety, reliability, and performance requirements. The company’s product portfolio includes Battery Management Systems for applications such as storage, automotive, and industrial. Generally, the Battery Management System packs offered by the company are in the range of 12VDC to 1000VDC. The company also offers BMS-related software, such as s-BMS PC Management Tool and s-BMS PC Service Tool, as well as off-the-shelf well, tested wires and harness accessories. Some of its other products include chargers, dataloggers & displays, and fast-charge interfaces. The company also delivers expertise in engineering services ranging from BMS integration or installation to prototype battery pack building. The company has a major presence in Europe and Asia.

Nuvation Engineering (US) is globally recognized for its power electronics products and product design across a wide range of market verticals. The company demonstrates its proficiency in developing electronic products from its initial stage design and concept to volume production. The company offers a range of products and solutions related to power electronics, such as electronic design services, product design consulting, Battery Management Systems, and design to manufacturer (IDC) services. Nuvation provides Battery Management Systems under its new brand name Nuvation Energy. The company mainly offers BMS products, such as low-voltage BMS, high-voltage BMS, and utility-grade multi-stack battery management solutions.

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