Battery Management System Market Upcoming Segmentation, Opportunities and Forecast To 2024


A supporting system known as a "Battery Management System" (BMS) supervises, watches over, and regulates battery characteristics and operations. According to estimates, the Battery Management System Market will be worth USD 5.2 billion in 2019 and USD 12.6 billion by 2024, growing at a CAGR of 19.5%. Increased need for battery monitoring in renewable energy systems, the necessity for efficient electric grid management, and the expanding popularity of electric vehicles are anticipated to propel this market's expansion.

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Among the leading companies in the battery management system market are Leclanche (Switzerland), Lithium Balance (Denmark), and Nuvation Engineering (US).

Leclanche (Switzerland) specialises in providing energy storage solutions, primarily using lithium-ion cell technology with an eye toward producing cleaner energy. The business provides stationary solutions, e-transportation solutions and batteries, customised battery systems, and energy management systems. Through a partnership with a hardware business, the business provides internal battery management systems. The business is heavily involved in providing BMS technologies and BMS software suites. The company sells Battery Management Systems that are either high voltage or low voltage. The company produces these BMSs in accordance with industry requirements.

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The manufacture and marketing of Battery Management Systems for rechargeable lithium-ion batteries that fulfil the necessary standards for safety, dependability, and performance are well recognised for Lithium Balance (Denmark). Battery Management Systems are part of the company's product line and are used in storage, automotive, and industrial applications. The company typically offers Battery Management System packs with voltages between 12VDC and 1000VDC. Additionally, the business sells off-the-shelf, thoroughly tested cables and harness components, as well as BMS-related software like the s-BMS PC Management Tool and s-BMS PC Service Tool. Chargers, dataloggers & displays, and fast-charge interfaces are some of its further goods. The business also offers engineering services with a focus on BMS installation and integration as well as the construction of prototype battery packs. The company is well-established in both Europe and Asia.

For its power electronics products and product design across a wide range of market verticals, Nuvation Engineering (US) is well-known on a global scale. From the beginning stages of design and concept to mass production, the company shows its expertise in creating electrical devices. The business provides a variety of power electronics-related goods and services, including design-to-manufacturer (IDC) services, product design consultation, and electronic design services. Battery Management Systems are offered by Nuvation under the name Nuvation Energy. The company's major BMS products include utility-grade multi-stack battery management systems, low-voltage BMS, and high-voltage BMS.

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