The Global Battery Monitoring IC Market valued at USD 1.6 billion in 2021, is projected to witness a remarkable growth at a CAGR of 11.3% from 2022 to 2031, reaching an estimated USD 4.8 billion by the end of 2031. The market's robust expansion is attributed to the continuous advancements in battery technologies and the increasing adoption of battery management solutions (BMS) across various applications.

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Global Battery Monitoring IC Market Introduction

Battery management systems, available in master-slave or single board architecture, are essential for overcharge/deep discharge protection, over/under voltage, over current, over/under temperature, pre-charge, and short circuit protection. These systems are integrated with specific algorithms such as state-of-charge (SOC), state-of-health (SOH), cell/module balancing, and real-time control over charge/discharge current. The rising demand for battery management systems in utility grid support, commercial and industrial facilities, residential energy storage, and specialty vehicle applications is driving the battery monitoring IC market.

Increased Adoption of EV Battery Monitoring Systems

The adoption of electric vehicles (EVs) is surging, driven by increased awareness about their benefits and ongoing research and development efforts aimed at improving EV performance. According to the International Energy Agency (IEA), global EV sales doubled in 2021, accounting for approximately 9% of the car market. In the first quarter of 2022, EV sales reached 2 million, marking a 75% increase compared to the first three months of 2021. The integration of automotive battery management system ICs is crucial for monitoring parameters such as cell voltage, battery life and health, safety, and charging-discharging rates, thus ensuring efficient battery performance.

Rise in Demand for Multi-cell Battery Monitoring ICs

The use of large-scale battery arrays for backup and energy storage is on the rise, particularly in applications like EVs, hybrid-electric vehicles (HEVs), power tools, lawn equipment, and uninterruptible power supplies. Multi-cell ICs play a vital role in determining battery pack SOC and SOH, providing essential information for monitoring battery charge and determining remaining battery pack capacity and overall life expectancy. Renesas Electronics Corporation introduced a new family of multi-cell battery front-end ICs in November 2021, enhancing battery development for high-voltage applications.

Regional Outlook

Asia Pacific dominated the global battery monitoring IC market in 2021, driven by the presence of numerous industry participants and significant research and development activities. The region's expanding EV market and supportive government initiatives further boost market growth. Europe and North America are also significant markets, with Europe benefiting from its major automotive manufacturers and Asia Pacific from its rapidly expanding consumer electronics industry.

Key Players:

• Texas Instruments Incorporated.
• Analog Devices, Inc.
• Maxim Integrated
• NXP Semiconductors.
• Renesas Electronics Corporation.
• Monolithic Power Systems, Inc.
• Microchip Technology Inc.
• STMicroelectronics
• Panasonic
• Diodes Incorporated
• Nisshinbo Micro Devices Inc.
• ROHM Co. Ltd
• Infineon Technologies AG

Recent Developments:

• Infineon Technologies AG (April 2022): Introduced a new family of battery management ICs for battery cell monitoring and balancing, enhancing system-level solutions for battery modules.
• Renesas Electronics Corporation (February 2022): Launched a new series of multi-cell Battery Front End (BFE) ICs for high-voltage battery packs used in e-scooters, energy storage, and high-voltage power tools.
• Nuvoton Technology Corporation Japan (November 2021): Announced enhanced functional safety lead-acid battery monitoring ICs for automotive battery management systems, simplifying in-vehicle battery system connections.
• DENSO Corporation (2020): Developed a new generation battery-monitoring IC for lithium-ion batteries, featured in the Toyota Yaris and future electric vehicles.

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