According to noted research entity ReportsnReports.com, in its Global and China Power Battery Management System (BMS) Industry Report, 2018-2025, the global power battery management system market (BMS) is showing growth at 11.6% CAGR from 2017 to 2025. Battery management system (BMS), a key part of battery electric and hybrid vehicles, is primarily composed of battery electronics (BE) and battery control unit (BCU), with the former being responsible for collecting current, voltage and temperature data of battery and transmitting them to BCU and the latter for information exchange with other control units.
A BMS has three core functions: cell monitoring, SOC (State of Charge) estimation and battery cell equalization. BMS monitors the working temperature and quantity of electricity of lithium battery cell and automatically takes measures to equalize the charging and discharging current and prevent the overheating temperature. Enabling EV power battery to gain best performance and the longest life cycle under any circumstances, BMS is a kind of crucial technology to develop electric vehicle.
A total of 1.1659 million new energy passenger cars were sold worldwide in 2017, an upsurge of 55.9% from a year earlier, showing great popularity of and a significant rise in market recognition of new energy vehicles. Global sales of new energy vehicles are expected to sustain a CAGR of around 45% between 2018 and 2020.
Foreign power battery BMS generally employs active equalization technology, resulting in higher cost per vehicle, but at the same time experiences annual decline of 10%-15% in price. The BMS market size will have a much slower growth rate than power battery output. Global BMS output value was USD4.7 billion in 2017, and is expected to exceed USD6 billion in 2019 and hit USD11.17 billion in 2025, representing a CAGR of 11.6% from 2017 to 2025.
For more BMS insights, browse the “Power Battery Management System Market” report.