LONDON--(BUSINESS WIRE)--The global lithium-ion battery management systems for vehicles market size is poised to grow by USD 2.90 billion during 2019-2023, according to a new report by Technavio. However, the market is expected to decelerate at a CAGR of over 5% during the forecast period.
Read the 153-page research report with TOC on "Lithium-Ion Battery Management Systems for Vehicles Market Analysis Report by application (automobile, industrial, and locomotive), and geography (APAC, North America, Europe, South America, and MEA) 2019-2023 at: https://www.technavio.com/report/lithium-ion-battery-management-systems-for-vehicles-market-industry-analysis
The market is driven by the rising need for efficient and environmentally friendly batteries. Also, the declining prices of Li-ion batteries is anticipated to further boost the growth of the market during the forecast period.
To learn more about the global trends impacting the future of market research, Download Free Sample
The automotive and locomotive industries are two of the major contributors to environmental degradation through air pollution. The widespread use of lead acid batteries that contain high amounts of lead oxide toxins can harm the environment significantly. The efficiency of these batteries drops significantly after a period and renders them unusable. These unusable batteries are considered hazardous waste due to the presence of sulfuric acid in them. Thus, governments across the world have implemented stringent regulations for the recycling of the solid waste generated by used lead-acid batteries. This is increasing the demand for Li-ion batteries which are highly recyclable and cause less pollution. Thus, the rising need for efficient and environmentally friendly batteries will drive market growth.
The manufacturing cost of Li-ion batteries has been declining rapidly over the past decade, which is expected to positively impact the adoption of Li-ion batteries in vehicles during the forecast period. The declining cost of these batteries is attributed to the increase in production scale and efficiencies in the manufacturing process.
To find out more about Lithium-ion battery management systems for vehicles Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR32101
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Calsonic Kansei Corp.
- Continental AG
- DENSO Corp.
- LG Chem Ltd.
- Lithium Balance AS
Market Segmentation by Application:
The Lithium-Ion Battery Management Systems for Vehicles Market can be broadly categorized into the following application segment:
Key Regions for the Lithium-Ion Battery Management Systems for Vehicles Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Consumer Discretionary are:
Automotive Battery Testers Market – Global Automotive Battery Testers Market by type (simple battery testers and integrated battery testers) and geography (APAC, Europe, MEA, North America, and South America).
Electric Vehicle (EV) Charging Station Market – Global Electric Vehicle (EV) Charging Station Market by charging station (AC charging and DC charging) and geography (the Americas, APAC, and EMEA).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.