Electric Two-Wheeler Lithium-Ion Battery Management System Market To See Huge Growth By 2031

2024-01-18 07:31:20

(MENAFN- EIN Presswire)

Electric Two-Wheeler Lithium-Ion Battery Management System Market

Rise in industry preference for the use of lithium-ion batteries, and growth in the adoption of rechargeable batteries across multiple end-use industries

The global electric two-wheeler lithium-ion battery management system market growth is attributed to the increase in the adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs)” - Allied Market Research

PORTLAND, OR, US, January 18, 2024 /EINPresswire / -- Electric Two-Wheeler Lithium-ion Battery Management System Market by Vehicle Type (Pedelecs, Scooters, and Motorcycles), and Topology (Centralized, Distributed, and Modular): Global Opportunity Analysis and Industry Forecast, 2022–2031". According to the report, the global electric two-wheeler lithium-ion battery management system industry generated $0.90 billion in 2021 and is anticipated to generate $5.6 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.

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Asia-Pacific is expected to dominate the global electric two-wheeler lithium-ion battery management system market. The presence of rapidly emerging countries in the region is expected to significantly impact the market. Furthermore, huge demand has been witnessed in this region for electric two-wheeler lithium-ion battery to eliminate the emission by gasoline fuel. The Chinese government in 2019 implemented strict emission control rules to boost electric vehicles on roads, which, in turn, is expected to surge the two-wheeler lithium-ion battery management system market.

Prime Determinants of Growth:

The global electric two-wheeler lithium-ion battery management system market growth is attributed to the increase in the adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), a rise in industry preference for the use of lithium-ion batteries, and growth in the adoption of rechargeable batteries across multiple end-use industries. However, the rise in the overall price of products with the addition of the battery management system hinders the growth of the market.

The report provides a detailed analysis of these key players in the global electric two-wheeler lithium-ion battery management system market. These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Factors, such as increase in adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), and rise in industry preference for use of lithium-ion batteries drive the growth of the electric two-wheeler lithium-ion battery management system market. However, increase in overall price of the products with addition of battery management system hinders the growth of the market. Further, increase in adoption of cloud-connected battery management systems, growth in demand for renewable energy, and growth in demand for e-bikes and e-scooters provide remarkable growth opportunities for players operating in the market.

Based on vehicle type, the scooter segment held the highest market share in 2021, accounting for more than two-fifths of the global electric two-wheeler lithium-ion battery management system market revenue, and is expected to maintain its leadership status during the forecast period. Mopeds and scooters are gaining traction in the electric two-wheeler lithium-ion battery management system market as they are filling a medium-trip-sized gap in micro-mobility. On the other hand, the motorcycle segment is projected to manifest the highest CAGR of 23.0% from 2022 to 2031.

Key Market Players

Key players operating in the global electric two-wheeler lithium-ion battery management system market include Elithion Inc, Jiangsu Xinri e-vehicle Co., Ltd., Leclanche SA, Lithium Balance, Mahindra & Mahindra Ltd., Navitas System LLC, Nuvation Energy, NXP Semiconductors, Renesas Electronics Corporation, Shenzhen Litongwei Electronic Technology Co., Ltd, Texas Instruments Incorporated, and Yamaha Motor Co., Ltd.

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Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than four-fifths of the global electric two-wheeler lithium-ion battery management system market revenue, and is expected to maintain its dominance throughout the forecast period. Asia-Pacific has experienced a surge in electric two-wheeler sales, driven by growing population, increasing disposable incomes, and urbanization. Moreover, the presence of rapidly emerging countries in the region is expected to significantly impact the market.

KEY FINDINGS OF THE STUDY

By vehicle type, the motorcycles segment is anticipated to exhibit significant growth in the near future.

By topology, the distributed segment is anticipated to exhibit significant growth in the near future.

By region, LAMEA is anticipated to register the highest CAGR during the forecast period.