The EV Battery Management Market is projected to reach $37.3 billion by 2029, at a CAGR of 30.5% from 2022–2029.
The growth of this market is attributed to the increasing adoption of electric vehicles, the increasing safety concerns related to EV batteries, the increasing demand for fast-charging batteries for e-mobility, and the increasing requirement for higher efficiency and performance of battery packs. Furthermore, the increasing R&D investments for developing high energy density EV batteries and new cell chemistries for EV batteries offer potential growth opportunities for the players operating in this market.
Top 10 Companies Operating in EV Battery Management Market-
Founded in 1909 and headquartered in Yverdon-les-Bains, Switzerland, Leclanché SA is a leading provider of high-quality energy storage solutions based on lithium-ion cell technology. The company operates in two business segments, namely, Projects and Goods & Services. It serves end-use industries such as utilities, commercial vehicles, e-rail, e-marine, and the military & defense industry. The company has a strong geographical presence across North America and Europe through its subsidiaries. Some of its major subsidiaries are Leclanché GmbH (Germany), Leclanché Canada Inc. (Canada), and Leclanché UK Ltd (U.K.). As of 2021, the company had a global headcount of 158 employees.
Lithium Balance A/S
Founded in 2006 and headquartered in Smørum, Denmark, Lithium Balance A/S is a leading provider of battery management solutions, including customized and off-the-shelf battery management systems for an extensive range of lithium battery setups. It serves end-use industries such as heavy, automotive, marine, Light EV, and energy. The company has a geographical presence across Europe and Asia-Pacific.
LiTHIUM BALANCE has developed an ISO26262 ASIL C certified BMS platform based on the n-BMS technology. The platform comprises a single master and 2 slave units, each with 48 cell voltage channels and 16 temperature sensors. The platform is integrated into the Aiways U5 5-seater SUV.
Founded in 1997 and headquartered in California, U.S., Nuvation Energy provides battery management systems and energy storage solutions. The company serves end-use industries such as utility grids, microgrids, and commercial, industrial, and residential buildings. The company has a geographical presence in North America.
The company has adopted collaborations as its major strategic development to augment its market share. For instance, in June 2022, e2 Companies, an ESG-focused (environmental, social, and governance) organization providing energy resilience and efficiency through turnkey, technology-driven risk management solutions, and Nuvation Energy’s select utility-grade battery management systems for its new R3Di Utility Grid power generation system. Similarly, in December 2021, EVLO Energy Storage (Canada) selected Nuvation Energy’s battery management systems for EVLO’s energy storage product line for utility grid support and demand charge management applications.
Renesas Electronics Corporation
Founded in 2002, Renesas Electronics Corporation is headquartered in Tokyo, Japan. It provides R&D, design, manufacturing, sales, and servicing of semiconductor products. The company operates in two major business segments, namely, Automotive and Industrial/ Infrastructure/ IoT. Renesas serves the automotive, consumer electronics, healthcare, IoT, and energy industries. With its subsidiaries, the company has a strong geographical presence across North America, Europe, and Asia-Pacific. Some of its subsidiaries are Dialog Semiconductor (U.K.), Intersil (U.S.), and Renesas Semiconductor (Beijing) Co., Ltd. (China). As of 2021, the company had a headcount of 20,962 employees globally.
The company has adopted new product development as a major initiative to augment its market share. For instance, in June 2022, the company developed an AUTOSAR-compliant complex device driver (CDD) software module for designers of automotive battery management systems (BMS) in electric vehicles (EVs). Similarly, in November 2021, the company introduced a new family of multi-cell full battery front end (BFE) ICs for battery management systems (BMS) built for the larger, high-voltage battery packs that power e-scooters, energy storage, high-voltage power tools, and other high-voltage equipment.
Eberspaecher Vecture Inc.
Founded in 1865 and headquartered in Esslingen, Germany, Eberspaecher Vecture Inc. is engaged in the designing and manufacturing of systems, sub-systems, and related components used in BMS applications. The company supplies portable medical, defense, and select industrial markets with leading-edge products, including protectors, fuel or battery level gauges, and stand-alone or embedded charging systems for the medical, defense, and manufacturing industries. With a strong distribution network, the company has a geographical presence across Europe, the Americas, Asia-Pacific, and Africa. As of 2021, the company had 10,600 employees across the world.
The company has adopted product development as a major initiative to augment its market share. For instance, in August 2022, the company developed the Xellstor energy management systems with more energy storage capacity for a self-sufficient power supply.
“Meticulous Research in its latest publication on EV Battery Management Market has predicted the growth of 30.5% during the forecast year 2022-2029”
Founded in 1987 and headquartered in Geneva, Switzerland, ST Microelectronics provides manufacturing services for electronics products, including semiconductors, multimedia products, power applications, and sensors for automotive, telecom, healthcare, energy, agriculture, and space industries. The company operates through two major segments, namely, Products and Services. With a strong distribution network, ST Microelectronics has a geographical presence across America, EMEA, and Asia-Pacific. As of December 2021, the company had 48,254 employees worldwide.
The company has adopted product launches and collaborations as major strategic development initiatives to augment its market share. For instance, The company launched its automotive microcontrollers (MCUs) optimized for electric vehicles and centralized (domain and zonal) electronic architectures, enabling EVs to become more affordable, drive further, and charge faster.
Founded in 1918 and headquartered in Osaka, Japan, Panasonic Corporation develops, produces, and sells a range of electric and electronic products. The company operates in five business segments, namely, Appliances, Life Solutions, Connected Solutions, Automotive, and Industrial Solutions. It has a strong geographical presence across Asia, Europe, and the Americas. As of 2021, the company had a headcount of 243,540 employees globally.
The company has adopted new product launches as major strategic development initiatives to augment its market share. For instance, in 2019, Panasonic Corporation launched a new battery management technology that measures a battery’s electrochemical impedance, an effective method of evaluating the residual value of lithium-ion batteries in devices. This technology is expected to be applied to various devices that use lithium-ion battery modules with many battery cells stacked in series and to future vehicles. Panasonic developed a new battery monitoring IC (BMIC) test chip, measurement algorithm, and software.
Similarly, in 2020, Panasonic Corporation launched a cloud-based battery management service known as the UBMC (Universal Battery Management Cloud) service, utilizing a proprietary AI-based technology that incorporates its battery expertise. The technology can ascertain the state of various types of batteries installed in electric mobility (e-mobility) vehicles in real-time. The cloud-based battery management service accurately estimates battery state to prevent sudden power outages, provides remote monitoring for optimal battery operations, and suggests routes with the most convenient charging points or battery replacement locations based on the user’s destination and transit points. In this way, it can provide new mobility experiences with constantly updatable functions.
LION Smart GmbH
Founded in 2008 and headquartered in Bavaria, Germany, LION Smart GmbH is an innovative engineering service company that provides products for original equipment manufacturers (OEMs) and suppliers of the automotive industry. The company operates test facilities and test laboratories for electric storage devices. As a high-quality engineering service company, it also offers advisory services in lithium-ion storage technology and performs a promising research program in this field. Furthermore, LION Smart has a geographical presence across Europe.
The company has adopted product development and collaborations as major initiatives to augment its market share. For instance, in March 2022, The company, along with VESTARO GmbH (Germany), Evonik (Germany), Forward Engineering GmbH (Germany), together with Lorenz Kunststofftechnik GmbH (Germany) and Minth GmbH (Germany), developed a new generation of battery packs—the Pure Performance Battery (PPB) for BEV-based (battery electric vehicles) on Sheet Molding Compound (SMC) technology.
Also in March 2020, LION E-Mobility AG (LION) and Sogefi (SOGEFI) (Italy) entered into an agreement, combining LION’s technology in Battery Management Systems and Module design with SOGEFI’s industrial capability in engineering and manufacturing of high-tech automotive cooling components, as well as access to SOGEFI’s global sales and distribution capabilities.
Ewert Energy Systems, Inc.
Founded in 2008 and headquartered in Illinois, U.S., Ewert Energy Systems, Inc manufactures Orion BMS, a Lithium Ion (Li-ion) battery management system (BMS) specifically designed to meet the tough requirements of protecting and managing battery packs for electric vehicles (EV), plug-in hybrid (PHEV) and hybrid automotive vehicles (HEV). The company offers BMS, remote monitoring and diagnostic devices.
Analog Devices, Inc.
Founded in 1965 and headquartered in Massachusetts, U.S., Analog Devices, Inc. is a leading player in the design, manufacture, and marketing of high-performance analog, mixed-signal, and digital signal processing (DSP) integrated circuits (ICs) used in electronic equipment. The company offers data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, and sensors based on microelectromechanical systems (MEMS) technology to automotive, communication and consumer electronics industries.
With its subsidiaries, the company has a strong presence across North America, Europe, and Asia-Pacific. Some of its subsidiaries of the company are Maxim Integrated (U.S.), OtoSense, Inc. (U.S.) and Linear Technology PTE (Singapore). As of 2021, the company had a headcount of 24,700 worldwide. The company has adopted product launch as a major strategic initiative for augmenting its market share. For instance, in September 2020, the company launched the industry’s first wireless battery management system (wBMS), which equips automotive manufacturers with increased flexibility to scale their electric vehicle fleets into volume production across a wide range of vehicle classes.
Authoritative Research on the EV Battery Management Market – Global Opportunity Analysis and Industry Forecast (2022-2029)
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