Dublin, April 02, 2024 (GLOBE NEWSWIRE) -- The "Two-Wheeler Battery Management System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
Market Overview
The latest data shows that the Global Two-Wheeler Battery Management System (BMS) Market has reached a value of USD 1.62 billion in 2022 and is projected to continue its growth trajectory with a CAGR of 8.21% during the forecast period up to 2028. Contributing to this surge are the rising demand for electric two-wheelers, technological advancements in battery management systems, and increasing governmental support across the globe. 
Key Market Drivers
An important aspect driving this market is consumer preference for sustainable and efficient modes of transportation in metropolitan regions, which has significantly bolstered the adoption rate of electric two-wheelers. Additionally, BMS is integral to maximizing battery health and longevity, essential in addressing safety concerns related to the operation of these vehicles. The battery management systems are also being refined through ongoing technological innovations, enhancing their capabilities in predictive maintenance and real-time monitoring, thereby improving the electric riding experience for consumers.
Challenges and Responses
Despite optimistic growth, the market faces challenges including a lack of charging infrastructure, high initial costs for electric two-wheelers, and concerns on battery range and performance. In response to these challenges, industry stakeholders are exploring solutions like the development of battery swapping stations and gradually enhancing BMS technology to alleviate concerns over battery performance and extend vehicle range.
Regional Market Insights
Regionally, the Asia-Pacific market is at the forefront, driven by significant electric two-wheeler adoption in densely populated countries. Initiatives by local governments supporting the adoption of green transportation methods are fuelling market growth in this area. The North American and European markets are also expected to contribute to the global market expansion, thanks to the growing popularity of electric bicycles and scooters as well as escalating regulatory pressures for reduced emissions.
The Road Ahead
Looking forward, the two-wheeler BMS market is poised for robust growth, spurred by increased consumer demand for electric vehicles, strategic government initiatives, and relentless strides in technological advancements. As the market continues to evolve, safety, efficiency, and convenience remain at the forefront of BMS innovation, signifying a promising future for the electric two-wheeler industry. The two-wheeler BMS market is a segment reflecting broader trends in the global automotive industry, where electrification, autonomy, and sustainable practices are reshaping the landscape of transportation for the future.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1.62 Billion |
| Forecasted Market Value (USD) by 2028 | $2.58 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Robert Bosch GmbH
- Panasonic Corporation (Ficosa)
- LG Chem
- Calsonic Kansei Corporation
- Hitachi Ltd
- Mitsubishi Electric Corporation
- Continental AG
- LiTHIUM BALANCE
- Preh GmbH
- LION E Mobility AG
For more information about this report visit https://www.researchandmarkets.com/r/9z917f
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