DUBLIN, Aug. 19, 2022 /PRNewswire/ — The “Battery Management ICs – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Battery Management ICs Market to Reach US$8.8 Billion by the Year 2026
A rechargeable battery pack with an in-built battery management system and an external data bus for communication between the battery and charger is known as a smart battery pack. Battery management systems manage the batteries by monitoring, analyzing, and controlling various parameters relevant to batteries , including cell voltage, voltage of periodic taps, or total voltage; cell temperatures, coolant output temperatures, coolant intake temperatures, or average temperatures; the flow rate of the coolant in case of fluid- or air-cooled batteries; and the current entering or leaving the battery pack.
Amid the COVID-19 crisis, the global market for Battery Management ICs estimated at US$7.4 Billion in the year 2022, is projected to reach a revised size of US$8.8 Billion by 2026, growing at a CAGR of 4.5% over the analysis period. Fuel Gauge ICs, one of the segments analyzed in the report, is projected to grow at a 5% CAGR to reach US$4.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Battery Charger ICs segment is readjusted to a revised 4.4% CAGR for the next 7-year period. This segment currently accounts for a 39.8% share of the global Battery Management ICs market.
The US Market is…