Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 10,283.1 Million | USD 27478.6 Million | 17.8% | 2021 |
FrequentlyAsked Questions
Increasing demand from the automotive industry and rising use in renewable energy storage applications are major trends that guide battery management systems market growth.
According to the Market Research report, the global battery management systems market size was worth about US$ 10,283.1 million in 2021 and is predicted to grow to around US$ 27478.6 million by 2028, with a compound annual growth rate (CAGR) of around 17.8 percent.
The market for battery management systems in Europe is expected to hold a major market share in the global battery management systems industry landscape and this is wowing to a rising focus on the use of sustainable energy generation in this region
Some of the main competitors dominating the global battery management systems market include -- Leclanche (Switzerland), Lithium Balance (Denmark), Nuvation Engineering (US), Eberspaecher Vecture (Canada), Storage Battery Systems (US), and Johnson Matthey (UK),
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