The mounting integration of portable batteries in consumer electronics, growing inclination toward electric vehicles, and energy storage solutions are the key factors boosting the demand for battery management modules. Currently, computers, smartphones, tablets, and other consumer electronic devices are powered by batteries, especially lithium-ion batteries.
The demand for advanced energy storage technologies is playing a pivotal role in the decarbonization of modern economies. In the last few years, these advanced technologies have contributed to the evolution of energy & power, automotive, medical, and electronics industries. Regardless of the existence of technologies such as the application of battery technologies has offered the energy and power solutions to meet the technical demands of the energy storage in these sectors. The market players are investing significant amounts in adopting newer and robust technologies to further enhance their respective products. The application of batteries plays a crucial role in consumer electronics, medical, and automotive industries. Over the years, growing demand for batteries for electric vehicles has been dominating the battery management module market as these batteries are cost effective from the manufacturer’s point of view. The replacement of graphite with silicon would enable the OEMs to experience longer battery life, which, in turn, would create ample demand from the end users. This is expected to boost the growth of the battery management module market during the forecast period.
NXP SEMICONDUCTORS N.V, Johnson Matthey, Texas Instruments Incorporated Renesas Electronics Corporation, Nuvation – PROMINENT MARKET PARTICIPANTS IN BATTERY MANAGEMENT MODULE MARKET
The Battery management module market operates in a highly consolidated and competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current offerings, diversifying its client base, all the prominent players face an increasing level of competition, both from start-ups as well as the leading established companies in the globe. Several companies in the value chain are acquiring other players in the market to maintain their position in the market and provide efficient services to its customers. Major companies of Battery management module providers are based in Asia Pacific. However, the market is penetrating at a high growth rate in the Europe region.
In the past few years, government initiatives to promote the adoption of cleaner transportation options have been growing at an impressive rate. European Union, China, Japan, Canada, India, and South Korea are some of the major geographies where governments are proactively taking steps to increase the adoption of electric vehicles especially buses and trucks. For instance, in the European Union there were some significant policy changes were made. These initiatives include improvements in fuel economy standards for trucks and ‘Clean Vehicles Directive’ that is focused on the procurement of electric buses by government. Another directive called ‘Energy Performance Buildings Directive’ is also formed which sets minimum standards for setting up charging infrastructure in buildings. Japan is another example where fuel economy standards were revised for trucks and through Japan’s automotive strategy, the country is expected to reduce 80% of its automotive greenhouse gas emissions by the year 2050. Such favorable initiatives are anticipated to boost the adoption of heavy duty electric vehicles such as trucks and thus drive the adoption of battery management modules during the forecast period of 2020 to 2027.
The key companies profiled in the Battery management module market include NXP Semiconductors N.V., Johnson Matthey, Texas Instruments Incorporated, Renesas Electronics Corporation, Nuvation, Analog Devices, Inc, Elithion Inc, L&T Technology Services Limited, Lithium Balance, and Leclanche. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
Most of the market initiatives were observed in Europe and North America region, which have a high potential of Battery management module manufacturer’s. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2020 | NXP collaborated with Volkswagen centered on the electronics for electric vehicles (EVs). Volkswagen adopted NXP’s battery management system (BMS) into its innovative MEB platform to help increase vehicle range, extend battery longevity, and enhance safety. | Europe |
| 2020 | L&T Technology Services Limited declared that it has expanded its collaboration with Microsoft Corporation and launched its latest and enhanced version of the state-of-the-art i-BEMS™ solution. | APAC |
| 2020 | Varroc Engineering Limited, has entered into agreement to manufacture EV Battery Management System (BMS) in India for Lithium Balance A/S, a Danish BMS solutions provider. | North America |
