The global market for Electric Two-Wheeler Lithium-Ion Battery Management Systems is set to experience substantial expansion, projected to reach $5.6 billion by 2031, according to a comprehensive report titled “Electric Two-Wheeler Lithium-ion Battery Management System Market by Vehicle Type and Topology: Global Opportunity Analysis and Industry Forecast, 2022–2031.” The report highlights key factors driving this growth, regional dominance, and key findings regarding players and market dynamics.
The report reveals that the industry generated $0.90 billion in 2021, with a projected compound annual growth rate (CAGR) of 20.3% from 2022 to 2031. Asia-Pacific is anticipated to lead the market, influenced by the rapid emergence of countries in the region. The increased demand for electric two-wheeler lithium-ion batteries, driven by efforts to reduce gasoline emissions, has further fueled market growth.
Primary Determinants of Growth
The surge in the adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), coupled with a preference for lithium-ion batteries and increased use of rechargeable batteries across various industries, are identified as primary drivers of market expansion. However, the report notes that the overall cost of products, including the battery management system, poses a challenge to market growth.
Key Market Players
Key players in the global 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. The report details their strategies, product portfolios, and market performance.
Segment Analysis
The scooter segment dominated the market in 2021, representing over two-fifths of global revenue, and is expected to maintain its leadership throughout the forecast period.
Motorcycles are projected to exhibit the highest CAGR of 23.0% from 2022 to 2031, indicating a growing preference for electric motorcycles.
Regionally, Asia-Pacific accounted for over four-fifths of the global market revenue in 2021 and is expected to maintain its dominance, driven by increased electric two-wheeler sales.
Key Findings
The report identifies several key findings, including the anticipated significant growth of the motorcycles segment and the distributed topology segment in the near future. Additionally, the Latin America, Middle East, and Africa (LAMEA) region are projected to register the highest CAGR during the forecast period.
In conclusion, the Electric Two-Wheeler Lithium-Ion Battery Management System market is positioned for substantial growth, driven by global shifts towards electric mobility and the continuous development of advanced battery technologies.
