Battery management system developers continue to experiment with material and battery tech options to widen scope of product functionality as per the evolving needs of the automotive industry
DUBAI, UAE / ACCESSWIRE / July 20, 2020 / Future Market Insights: The battery management system market is likely to go through a sharp slump in demand during the ongoing coronavirus pandemic. The crisis has had a severe impact on the global economy and the automotive industry. The temporary suspension of auto production and distribution activities will hinder the demand for battery management systems in the near term.
"Developers are focused on the creation of balanced electric technology for the automotive sector. Next-generation battery management ICs are gaining traction, for superior lifespans of battery cells and longer driving range for newer hybrid and electric vehicles. These developments will enable a strong recovery of the industry post the end of the pandemic," says the FMI analyst.
Battery Management System – Primary Takeaways
- Although still widely used, management systems for lead acid batteries are steadily losing ground to li-ion variants, supported by automotive and consumer electronics applications.
- Battery management systems with distributed topologies will remain highly popular owing to superior energy flow control in EV applications.
- The automotive industry is the primary user of battery management systems with the transition to hybrid and electric vehicles.
- North America is a key battery management system market, supported by government initiatives supporting the penetration of electric vehicles.
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Battery Management System – Growth Factors
- Strict vehicle emission norms are a key factor that are propelling the sales of battery management systems.
- The transition of the automotive industry from fossil fuels to hybrid and electric vehicles will contribute to sales.
- Niche applications in electronics and industrial applications will generate lucrative growth opportunities.
Battery Management System – Major Constraints
- Higher cost of products using battery management systems hurts sales and adoption.
- Lack of adequately skilled professionals to test or install battery management systems will hurt market prospects.
The Projected Impact of Coronavirus
The battery management system market is facing a number of obstacles owing to suspension of manufacturing activities in the automotive, industrial, and consumer electronics sectors. Disrupted supply and distribution networks will also hinder market growth during the crisis period. However, the market is likely to display steady recovery, owing to the importance of battery management systems in multiple verticals.
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Competition Landscape
The battery management system market comprises players including but not limited to Johnson Matthey plc, The Ventec Company, Navitas System LLC, Nuvation Engineering, AVL, Ashwoods Energy Ltd., Merlin Equipment Ltd., and Lithium Balance Corp. Market players are investing in research and development to boost product differentiation. For instance, Infineon Technologies AG has introduced a new battery management system with a new sensing and balancing integrated circuit, for hybrid and electric cars.
More About the Study
The FMI study provides detailed insights on battery management systems. The market is broken down in terms of vertical type (automotive, telecom, energy, and drones), component (battery management unit, and communication unit), and topology (distributed, centralized, and modular) across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).
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https://www.accesswire.com/598070/Suspension-of-Electric-and-Hybrid-Automotive-Production-Activities-with-Covid-19-Outbreak-to-Hurt-Demand-for-Battery-Management-Systems-Market–Future-Market-Insights
