A battery management system is an electronic system that controls and monitors charging and discharging of battery and provides notifications about the status and condition of battery packs. In addition, providing critical safeguard to protect batteries from damage is one of the primary functions of battery management system. Battery management systems in automotive applications are required to meet certain critical features such as voltage, current & temperature monitoring, battery state of charge (SoC), and cell balancing of lithium-ion (Li-ion) batteries. In addition, battery protection, battery monitoring, and battery optimization are the three main functions of battery management systems for electric vehicles. Battery management systems for the electric two wheelers are anticipated to exhibit remarkable growth rate during the forecast period, owing to government support and rise in trend of electric vehicles to reduce emission of greenhouse gases.
Leading manufacturers are focusing on development of pedelec electric bikes, which drives the market. For instance, in February 2020, Nexzu Mobility, an end-to-end electric mobility solutions provider, launched three new pedal assist e-bikes, named Roadlark, Aello, and Rompus. Nexzu Mobility’s e-cycles are equipped with lithium-ion batteries that have an average lifecycle of 750 charges. These convenient and environmentally friendly vehicles can be fully charged in just three to four hours.
Factors, such as increase in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), and rise in industry preference for use of lithium-ion batteries drive the growth of the electric two-wheeler lithium-ion battery management system market. However, increase in overall price of the products with addition of battery management system hinders the growth of the market. Further, increase in adoption of cloud-connected battery management systems, growth in demand for renewable energy, and growth in demand for e-bikes and e-scooters provide remarkable growth opportunities for players operating in the market.
The electric two-wheeler lithium-ion battery management system market is segmented on the basis of vehicle type, topology, and region. By vehicle type, it is segmented into pedelecs, scooters, and motorcycles. By topology, it is classified into centralized, distributed, and modular. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Leading manufacturers are focusing on development of pedelec electric bikes, which drives the market. For instance, in February 2020, Nexzu Mobility, an end-to-end electric mobility solutions provider, launched three new pedal assist e-bikes, named Roadlark, Aello, and Rompus. Nexzu Mobility’s e-cycles are equipped with lithium-ion batteries that have an average lifecycle of 750 charges. These convenient and environmentally friendly vehicles can be fully charged in just three to four hours.
Factors, such as increase in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), and rise in industry preference for use of lithium-ion batteries drive the growth of the electric two-wheeler lithium-ion battery management system market. However, increase in overall price of the products with addition of battery management system hinders the growth of the market. Further, increase in adoption of cloud-connected battery management systems, growth in demand for renewable energy, and growth in demand for e-bikes and e-scooters provide remarkable growth opportunities for players operating in the market.
The electric two-wheeler lithium-ion battery management system market is segmented on the basis of vehicle type, topology, and region. By vehicle type, it is segmented into pedelecs, scooters, and motorcycles. By topology, it is classified into centralized, distributed, and modular. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric two-wheeler lithium-ion battery management system market analysis from 2021 to 2031 to identify the prevailing electric two-wheeler lithium-ion battery management system market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electric two-wheeler lithium-ion battery management system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electric two-wheeler lithium-ion battery management system market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Topology
- Centralized
- Distributed
- Modular
By Vehicle Type
- Pedelecs
- Scooters
- Motorcycles
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Netherlands
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Leclanché SA
- Jiangsu Xinri E-Vehicle Co., Ltd.
- Navitas System LLC
- Renesas Electronics Corporation
- NXP Semiconductors N.V.
- Texas Instruments Incorporated
- Mahindra & Mahindra Ltd.
- Nuvation Energy
- Elithion Inc
- Shenzhen Litongwei Electronics Technology Co., Ltd.
- Yamaha Motor Co., Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ELECTRIC TWO-WHEELER LITHIUM-ION BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY
CHAPTER 5: ELECTRIC TWO-WHEELER LITHIUM-ION BATTERY MANAGEMENT SYSTEM MARKET, BY VEHICLE TYPE
CHAPTER 6: ELECTRIC TWO-WHEELER LITHIUM-ION BATTERY MANAGEMENT SYSTEM MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The electric two-wheeler lithium-ion battery management system market is likely to experience a growth rate of 20.3% from 2022-2031 owing to rise in adoption of electric two wheelers and rise in industry preference for use of lithium-ion batteries during the forecast period.A battery management system is an electronic system that controls and monitors charging and discharging of battery and provides notifications about the status and condition of battery packs. In addition, providing critical safeguard to protect batteries from damage is one of the primary functions of battery management system.
Battery management systems in automotive applications are required to meet certain critical features such as voltage, current & temperature monitoring, battery state of charge (SoC), and cell balancing of lithium-ion (Li-ion) batteries. In addition, battery protection, battery monitoring, and battery optimization are the three main functions of battery management systems for electric vehicles. Battery management systems for the electric two wheelers are anticipated to exhibit remarkable growth rate during the forecast period, owing to government support and rise in trend of electric vehicles to reduce emission of greenhouse gases.
Significant factors impacting the electric two-wheeler lithium-ion battery management system market include, rise in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs) and surge in industry preference for use of lithium-ion batteries. In addition, growth in adoption of rechargeable batteries across multiple end-use industries propels the market growth. However, rise in overall price of products with addition of battery management system hinders the growth of the market. Further, increase in adoption of cloud-connected battery management systems and rise in demand for e-bikes and e-scooters provide remarkable growth opportunities for players operating in the market.
Battery-operated applications and cloud-based software and services are widely used in industrial landscape that is undergoing the fourth industrial revolution, Industry 4.0. With increase in convergence of industrial operations and technology, cloud-connected battery management system is emerging as one of the most popular trends across various industries, including automotive, telecommunications, and consumer electronics. Further, cloud-based monitoring and analysis framework for battery management systems enable end users to monitor and analyze battery data as well as algorithms that offer information related to StateofCharge (SOC) and StateofHealth (SOH) estimates.
In addition, cloud-based battery management systems allow online identification of potential critical battery failures at various stages of its operation and long-term tracking of cell aging. Rise in popularity of such high-tech features is incurring transformational changes in business strategies for manufacturers in the battery management system landscape. For instance, in July 2019, Bosch announced development of cloud-based swarm intelligence services to extend service life of electric vehicle batteries by supplementing battery management systems of individual vehicles. This feature enables smart software functions in cloud service that continually analyze battery status and take appropriate actions to prevent or slow down cell aging.
Owing to various benefits of cloud-connected battery management system, companies are increasingly focused on its development, which, in turn, creates opportunities for growth of the electric two-wheeler lithium-ion battery management system market.
The electric two-wheeler lithium-ion battery management system market is segmented on the basis of vehicle type, topology, and region. By vehicle type, it is segmented into pedelecs, scooters, and motorcycles. By topology, it is classified into centralized, distributed, and modular. By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (France, Germany, Italy, Netherlands, UK, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The leading companies profiled in the report comprise Elithion Inc, Jiangsu Xinri E-Vehicle Co, Leclanche, Lithium Balance, Mahindra & Mahindra Ltd, Navitas System LLC, Nuvation Energy, NXP Semiconductors, Renesas Electronics Corporation, Shenzhen Litongwei Electronics Technology Co., Ltd, Yamaha Motor Co., Ltd., and Texas Instruments Incorporated.The players in the market have been actively engaged in the adoption of various strategies such as collaboration and acquisition to remain competitive and gain an advantage over the competitors in the market. For instance, in February 2020, Lithium Balance entered into an agreement with Varroc Engineering Limited to manufacture EV Battery Management System (BMS) in India. Under the agreement, Varroc manufactures BMS for lithium-ion batteries for electric two-wheelers and three-wheelers at its manufacturing facility in Pune. In February 2020, Nuvation Energy announced that its configurable high-voltage battery management system (BMS) obtained UL recognition for use in UL 1973 Certifiable Battery Stacks and UL 9540 Certifiable Stationary Energy Storage Systems.
Key Market Insights
By vehicle type, the scooter segment is expected to be the highest revenue contributor to the market, and is estimated to reach $1.4 billion by 2031, with a CAGR of 18.8%.Based on topology, the modular segment is expected to be the highest revenue contributor to the market, with $0.3 billion in 2021, and is estimated to reach $1.7 billion by 2031, with a CAGR of 19%.
Based on region, Asia-Pacific is expected to be the highest revenue contributor, accounting for $0.3 billion in 2021, and is estimated to reach $1.8 billion by 2031, with a CAGR of 19.7%.
Companies Mentioned
- Leclanché SA
- Jiangsu Xinri E-Vehicle Co., Ltd.
- Navitas System LLC
- Renesas Electronics Corporation
- NXP Semiconductors N.V.
- Texas Instruments Incorporated
- Mahindra & Mahindra Ltd.
- Nuvation Energy
- Elithion Inc
- Shenzhen Litongwei Electronics Technology Co., Ltd.
- Yamaha Motor Co., Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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