Battery Monitoring Systems Market by End-user and Geography - Forecast and Analysis 2022-2026

The predicted growth for the battery monitoring systems market share from 2021 to 2026 is USD 9.48 billion at a progressing CAGR of 21.87%.

This battery monitoring systems market forecast report extensively covers segmentations by:

• End-user - Automotive, energy, and telecom and data center
• Geography - APAC, North America, Europe, South America, and Middle East and Africa

The battery monitoring systems market report offers information on several market vendors, including ABB Ltd., Analog Devices Inc., BMS Powersafe, C and D Technologies Inc., Crucial Power Products, Curtis Instruments Inc., Eberspaecher Vecture Inc., Elithion Inc., General Electric Co., HBL Power Systems Ltd, Infineon Technologies AG, Johnson Matthey Plc, Lithium Balance AS, Lithium Werks, NXP Semiconductors NV, Raytheon Technologies Corp., Renesas Electronics Corp., Schneider Electric SE, Texas Instruments Inc., and Vertiv Holdings Co. among others. Furthermore, our analysts have provided valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.

What will the Battery Monitoring Systems Market Size be During the Forecast Period?

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"In APAC, developing countries such as India and China are focusing on green energy to reduce greenhouse gas emissions. "

Battery Monitoring Systems Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The advances in EV battery and associated technologies is notably driving the battery monitoring systems market growth, although factors such as the demand-supply gap of battery components may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the battery monitoring systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Battery Monitoring Systems Market Driver

• The advances in EV battery and associated technologies is one of the key drivers fueling the battery monitoring systems market growth.
• Fuel cells directly convert the chemical energy of fuels such as natural gas, hydrogen, or biogas into electricity.
• Fuel cells offer rapid refueling and the elimination of buffer time associated with charging.
• Conventional batteries require a long time to recharge, hold less energy with each charge and need to be replaced frequently. However, fuel cell systems do not contain hazardous materials, unlike conventional batteries. As a result, fuel cell systems are emerging as an alternative source of energy for EVs in the global EV battery market.
• Several initiatives are being implemented to improve battery quality. Such initiatives would result in a significant performance upgrade of EV batteries and lead to the increased adoption of EVs. This, in turn, will contribute to the growth of the global battery monitoring systems market during the forecast period. 

Key Battery Monitoring Systems Market Trend

• EV charging with V2G technology is one of the key battery monitoring systems market trends contributing to the market growth.
• The V2G technology requires specially designed bidirectional charging stations that can facilitate both the charging and discharging of vehicles.
• V2G technology offers customers a remittance every time the grid uses energy from their vehicles. EVs can draw power from the grid during mid-day hours when the solar output is the highest. This, in turn, reduces a load of grids during night-time, when the solar output is low, by returning power to it. 
• Several EV vendors have started manufacturing vehicles that support the V2G technology.
• For instance, in December 2021, Volkswagen AG announced the plan to introduce plug-and-charge and vehicle-to-grid () capabilities. This, in turn, will fuel the battery monitoring systems market growth during the forecast period.

Key Battery Monitoring Systems Market Challenge

• The demand-supply gap of battery components is one of the challenges limiting the battery monitoring systems market growth.
• Lithium-ion batteries have become the most preferred battery systems in EVs because of improvements in cost, energy and power density, battery lifecycle, and performance.
• Though lithium reserves are abundantly available, new lithium mines need to become operational due to the exponential increase in the demand for lithium from the automotive industry. Other than lithium, cobalt also faces a supply shortage, which will potentially affect the growth of the market.
• Other components that are used in battery packs, such as integrated memory chips and Not-And (NAND) flash memory, are facing significant shortages due to the high demand and low availability of raw materials for these components. Such shortages of components are a constraint to the growth of the market and can be a potential barrier to the production of lithium-ion batteries, subsequently affecting the growth of the global battery monitoring systems market. 

This battery monitoring systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global battery monitoring systems market as a part of the global renewable electricity market within the global independent power and renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the battery monitoring systems market during the forecast period.

Market Overview

The parent global renewable electricity market covers companies engaged in the generation and distribution of electricity using renewable sources. The global independent power and renewable electricity market size include combined revenue generated by companies involved in the generation and distribution of independent power producers, gas and power marketing and trading specialists, and/or integrated energy merchants and renewable electricity. The market also includes manufacturers of raw materials and equipment used in the solar power market. Growth in the global renewable electricity market will be driven by the following factors: Supporting policies and targets for deployment of renewable power: The adoption of renewables has significantly increased over the past decade due to effective policies and ambitious targets.

Who are the Major Battery Monitoring Systems Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• Analog Devices Inc.
• BMS Powersafe
• C and D Technologies Inc.
• Crucial Power Products
• Curtis Instruments Inc.
• Eberspaecher Vecture Inc.
• Elithion Inc.
• General Electric Co.
• HBL Power Systems Ltd
• Infineon Technologies AG
• Johnson Matthey Plc
• Lithium Balance AS
• Lithium Werks
• NXP Semiconductors NV
• Raytheon Technologies Corp.
• Renesas Electronics Corp.
• Schneider Electric SE
• Texas Instruments Inc.
• Vertiv Holdings Co.

 

This statistical study of the battery monitoring systems market encompasses successful business strategies deployed by the key vendors. The battery monitoring systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Abb.com - The company offers a battery monitoring system to check battery voltage and temperature and verify that all connections are free of dust, corrosion, or leakage, and check that all ventilation is working and that all connections are tight.
• Analog.com - The company offers battery management which offers a broad portfolio of high-performance battery management IC devices including battery chargers, companion battery charge controllers, and battery backup managers.
• Ge.com - The company offers BA300 battery monitors as the DC auxiliary supply to ensure the continuous integrity of electrical equipment.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The battery monitoring systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Battery Monitoring Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the battery monitoring systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Battery Monitoring Systems Market?

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50% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the battery monitoring systems market in APAC. Market growth in this region will be slower than the growth of the market in Europe.

The need to improve the environment as well as energy security in some of the fast-growing economies such as China, Japan, and India will facilitate the battery monitoring systems market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

.The outbreak of COVID-19 slowed down the production of automobiles in 2020. However, companies have been increasing their sales and investing in electric vehicle (EV) production with supportive government initiatives. Such factors will consequently boost the market in focus in APAC during the forecast period.

What are the Revenue-generating End-user Segments in the Battery Monitoring Systems Market?

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The battery monitoring systems market share growth by the automotive segment will be significant during the forecast period. The global battery monitoring systems market witnessed a slowdown owing to the outbreak of COVID-19 in 2020. The outbreak globally disrupted the operations of the automotive industry. Owing to the outbreak, automotive manufacturers reduced their focus on electric vehicle infrastructure development temporarily. However, with the increase in vaccination rates, a decline in the number of COVID-19 cases, and the easing of lockdown measures, many countries entered the phase of recovery from the pandemic. Thus, the growth in the automotive sector in the upcoming years will drive the growth of the battery monitoring systems market in focus during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the battery monitoring systems market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Battery Monitoring Systems Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 21.87%
Market growth 2022-2026	$9.48 billion
Market structure	Fragmented
YoY growth (%)	17.11
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 50%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., Analog Devices Inc., BMS Powersafe, C and D Technologies Inc., Crucial Power Products, Curtis Instruments Inc., Eberspaecher Vecture Inc., Elithion Inc., General Electric Co., HBL Power Systems Ltd, Infineon Technologies AG, Johnson Matthey Plc, Lithium Balance AS, Lithium Werks, NXP Semiconductors NV, Raytheon Technologies Corp., Renesas Electronics Corp., Schneider Electric SE, Texas Instruments Inc., and Vertiv Holdings Co.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Battery Monitoring Systems Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive battery monitoring systems market growth during the next five years
• Precise estimation of the battery monitoring systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the battery monitoring systems industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of battery monitoring systems market vendors

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