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Battery Management ICs Market Segmented By Battery ICs, Battery Authentication ICs, Battery Fuel Gauge ICs, Battery Protector ICs Type in Automotive, Industrial Equipment, Medical Devices, Consumer Electronics
The global battery management ICs market was valued at US$ 4.3 Bn at the end of 2021 and is expected to reach US$ 7.38 Bn by 2032, expanding at a CAGR of 5.1% between 2022 and 2032.
Battery management ICs currently represent around 1% of sales of the global integrated circuits market. High need for the management of rechargeable batteries has led to increased adoption of battery management ICs over the years across several industries.
| Attribute | Key Insights |
|---|---|
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Battery Management ICs Market Size (2022) |
US$ 4.47 Bn |
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Projected Market Value (2032) |
US$ 7.38 Bn |
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Global Market Growth Rate (2022-2032) |
5.1% CAGR |
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Market Share of Top 5 Vendors |
27% |
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Rise in the adoption of electric vehicles and the high demand for battery optimization with robust charging infrastructure has led to an increase in the adoption of battery charger ICs and battery authentication ICs for energy-efficient battery systems.
Since electric vehicles run on lithium-ion battery packs, demand for lithium-ion battery charger ICs has also surged. The increase in power management applications is fueling global demand for battery management products, leading to the growth of the battery management ICs market.
Short life span, sloping discharging curve, and cost of continuous replacement of non-rechargeable batteries have proven to be inappropriate for continuous power management requirements in several applications. Moreover, single-use primary batteries are an uneconomical energy source and produce more electronic waste as compared to rechargeable batteries.
Rising demand for rechargeable lithium-ion batteries with the 'GO Green' trend has increased the adoption of battery management ICs across several industries. This has led to an acceleration in the demand for batteries in various sustainable energy industry sectors for energy storage.
The global battery management ICs market expanded at 3.5% CAGR between 2017 and 2021 and is predicted to rise at a higher CAGR of 5.1% through 2032.
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Battery management ICs play a crucial role in electronics systems for safe and efficient battery operations. The present demand for quality power is rising exponentially with the rise in the use of electronics systems.
Rapid growth in the use of the Internet and telecommunications services has resulted in unique but significant power requirements for energizing electronic devices such as mobile devices, laptops, and other portable electronics.
Preservation of battery cells from being used outside of operating conditions for battery authentication and for keeping the battery pack balanced has paved the way for battery management integrated circuits.
Rise in demand for higher charging speeds coupled with expanded electronics communication needs has also fueled market growth. Adoption of power management ICs in the electronics industry stems from the market demand for reduced time-to-information intervals with quality power for heavily siliconized user communities as well.
The South Asia & Pacific region is estimated to be a fast-growing battery management ICs market, expected to grow 2X during the forecast period of 2022-2032.
Increasing focus on expanding renewable energy infrastructure for balancing energy security and sustainability commitments while meeting increasing power requirements across growing economies is also driving demand.
Companies in South Asia & Pacific continue to expand their digital footprint in emerging markets with energy storage solutions to provide base load energy. Exponential rise in the adoption of diversified energy portfolios with decentralized energy grids for consistent base load power are some of the key points for increasing demand for battery management ICs in the region.
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Why is the Adoption of Battery Management ICs Rising Rapidly in the U.S.?
Battery management IC demand in the U.S. is expected to account for nearly 76.7% of the North American market share in 2022.
The U.S. is witnessing positive growth owing to the rising inclination of the automotive industry for electric transport systems across the country.
The country’s competitive edge is due to the presence of numerous market players, besides rapid technological innovations in the telecommunications, electronics, and automotive sectors.
Furthermore, high market share of the United States is being aided by several government initiatives and huge investments in battery management systems for supporting the growth in electric vehicle and storage needs.
How Big is the Opportunity for Battery Management IC Manufacturers in China?
The East Asia & Pacific region is estimated to be the fastest-growing regional market for battery management ICs. According to the study, China is predicted to grow 1.4X during the forecast period.
As the world’s biggest consumer and producer of new energy vehicles, the country’s demand for battery management systems has been rising at an exponential rate.
Robust supply chain, technological advancements across manufacturing sites, and aggressive government policies add to the high demand and adoption in the market. Furthermore, the country accounts for the highest electric vehicle sales and is further growing on a fast note with boasting charging network infrastructure.
With an increasingly digital economy, favorable government measures while preserving consumer demand are generating growth prospects in the country. China and South Korea account for a huge share in the export of batteries, semiconductor chips, and integrated circuits.
How is the India Battery Management ICs Market Faring?
The market in India is estimated to grow 2.4X over the decade. Over the past decade, India has been experiencing a transformative shift in the telecommunications and automotive industry.
Some of the important takeaways for increasing battery management IC sales in India include the adoption of a phased manufacturing approach, localization of pack assemblies, and production-linked incentive schemes.
Furthermore, increased outsourcing storage needs have driven the country’s data center capacity, driven by large scalers such as Microsoft, Google, IBM, and others. Increasing Internet penetration, cloud computing, and favorable regulatory support also contribute to the growing adoption of communication and power infrastructure, fueling demand for battery management integrated circuits across the country.
Why the Demand for Battery Chargers High?
The battery charger ICs segment showcases held the highest market share year 2021. The segment is predicted to provide an absolute opportunity of US$ 1.14 Bn by the end of 2032.
Battery charger ICs are integrated circuits used in the charging of batteries for various applications. Incorporation of battery charger ICs maximizes battery capacity, offers voltage accuracy, and maximum charging current and operating temperature. This supports a wide range of applications such as PV cell energy harvesting, industrial monitoring, lithium-ion battery monitoring, and other portable equipment usage.
Why are Battery Management ICs Crucial for the Automotive Sector?
In this market, the automotive sector is expected to expand at the highest CAGR of around 6.7% during the forecast period.
Sales/registrations of new vehicles in countries represented by the International Organization of Motor Vehicle Manufactures showed a spike of around 3% in 2021 as compared to 2020.
Some of the key considerations such as easing supply chain constraints, highly disposable income, increase in consumer aspirations, and digital investments have paved the way for the surge in automotive production, fueling the demand for battery management ICs as well.
Furthermore, ramping up of electric vehicle manufacturing, including fully-electric and hybrid passenger cars and electric scooters, is further fueling the demand for battery protection units, in parallel driving demand for battery protection ICs.
Battery management IC suppliers are focusing on the strengthening of regional and global product networks with product launches, acquisitions, and partnerships with major industry players.
Vendors of the market are concentrating on acquiring proficiency in their battery management ICs product portfolios to scale up with the increasing global demand.
| Attribute | Details |
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Forecast Period |
2022-2032 |
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Historical Data Available for |
2017-2021 |
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Market Analysis |
USD Million for Value |
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Key Market Segments Covered |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
Battery Management ICs Market by IC Type:
Battery Management ICs Market by Application:
Battery Management ICs Market by Region:
The global battery management ICs market was valued at US$ 4.3 Bn in 2021 and is estimated to reach US$ 7.38 Bn by 2032.
The South Asia & Pacific market is expected to expand at a CAGR of around 7.4%, currently accounting for around 13.7% market share.
The market in India is projected to register 9.3% CAGR between 2022 and 2032.
The global market expanded at 4.1% CAGR between 2021 and 2022.
Most demand for battery management ICs comes from the U.S., China, Japan, India, and South Korea.
Leading companies in the market, such as STMicroelectronics, Infineon Technologies, Texas Instruments, Maxim Integrated, and Analog Devices, account for around 27% market share.
Key market trends include rising adoption of electric vehicles and growing power demand in the consumer electronics industry.
