The battery technology market is a key component of the advanced energy storage system market; therefore, the market is witnessing to have a considerable growth rate all over the world. The battery control technology can be extensively used in rechargeable battery to manage and protect the optimal amount of energy reside in battery, which can avoid load on batteries. Therefore, the battery control technology finds extensive application in power and energy generation sector, which may act as one of the prime factors for driving the market growth, as power can be efficiently stored in the batteries. According to the Center for Climate and Energy Solution, it is assessed that the U.S. is a dominant country in terms of renewable energy generation, increasing at a growth rate of 100% from 2000 to 2018. Renewable made up more than 17% of generation of net electricity in 2018, with the huge share obtaining from hydropower (7%) and wind power (6.6%). Furthermore, the rising demand of technologically advanced battery systems in electric vehicles, along with the increasing deployment of batteries in energy & utilities sector are the few factors responsible for the high CAGR of the market during the forecast period. For instance, the International Energy Agency (IEA) estimated that the sales of electrical vehicles grew to almost doubled in the period of 2011 and 2012 and is likely to grow almost 20 million electric vehicles on road by the year 2020. Similarly, as per the Bloomberg New Energy Finance (BNEF) report 2019, the electric vehicle sale around the world is likely to reach nearly 54 million by the year 2040, which is about 32% of the world’s passenger vehicles. Therefore, the robust growing sales of electric vehicles creating a huge demand for battery control technology as it can improve the efficiency of electric mobility because of their technological developments, resulting in higher growth of the market over the forecast period. However, the high installation and initial cost , coupled with the safety issues associated with the technology are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Battery Control Technology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the rise in demand from marine and aviation sector, and the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in utility in on-road electric vehicles and the increasing rate of industrialization & urbanization in developing countries, such as China and India, would create lucrative growth prospects for the battery control technology market across the Asia-Pacific region.
Major market player included in this report are:
A123 systems LLC.
Ford Motor Co.
GE Energy LCC.
Toyota Motor Corp.
Sony Electronic Inc.
Samsung SID Co. Ltd.
Sanyo electric Co. Ltd.
L.G Chem LTD.
Honda Motor Co. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Traction, Marine and Aviation
Stationary (UPS, Emergency, Remote)
On-road Electric Vehicles
By Sales Channel:
Original Equipment Manufacturer
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Battery Control Technology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers