Economy
Battery Mgt System Market Revenue to Rise at CAGR of 19.9%
By Modupe Gbadeyanka
Future Market Insights (FMI) delivers key insights on the global battery management system (BMS) market in its latest report titled, “Battery Management System Market: Global Industry Analysis and Opportunity Assessment, 2015–2025”.
Global battery management system market revenue is expected to increase at a CAGR of 19.9% during the forecast period (2015–2025). Battery management system is an electronic system that helps to maintain optimal health of rechargeable batteries.
BMS controls load environment, monitors battery state and accordingly balances battery charging. Battery management system prolongs battery life, helps to prevent battery damage due to overcharging and voltage fluctuations and manages optimal state of charging.
BMS interfaces with the host application to provide real-time information regarding battery health.
BMS follows three types of topologies, which are distributed, centralized and modular.
Distributed BMS has a single communication cable controller and battery; a cell board is installed at each cell. Centralized BMS has a single controller and is connected to battery cells with communication wires.
Modular BMS has multiple controllers, with each controller handling a certain number of cells.
Consumption of rechargeable batteries in the electronics sector is growing. Rechargeable batteries are used in products such as power tools and vacuum pumps, and growth in demand for these products is driving global battery management system market revenue.
In the recent past, demand for power tools, garden tools, portable medical tools, portable battery packs and various other powered devices and tools has been increasing in markets in emerging economies, particularly in Asia.
An increasing number of players in the market has resulted in intensified competition, is leading to price wars, reduced profit margins and is hampering growth of the global battery management system market.
OEMs in industries such as automotive and telecom have significant bargaining power and dictate pricing of battery management systems.
This leads to low profit margins for manufacturers. In cost-sensitive markets such as India and ASEAN, intense competition among battery management system providers is also resulting in price wars.
Some battery management systems are incompatible with complex battery structures and this is expected to hamper growth of the market to a certain extent.
The global battery management system market is segmented on the basis of verticals into automotive, energy, telecom and drones.
Demand for BMS from the automotive vertical for e-Vehicle application is significantly high, and this sub-segment is estimated to account for 14.2% revenue share of the global battery management system market by the end of 2015.
As per FMI estimates, e-Vehicle sub-segment is projected to expand at a CAGR of 21.1% during the forecast period.
The automotive segment is estimated to dominate the global market with 39.5% share in terms of revenue by 2015 end, followed by energy and consumer/handheld segment with share of 26.3% and 17.4% respectively.
Automotive segment dominated the global market in terms of revenue in 2014 and is expected to register a CAGR of 20.8% during 2015and 2025.
On the basis of topology, the global battery management system market is segmented into distributed, centralized and modular.
The centralized segment in the global battery management system is estimated to account for 38.7% revenue share of the market by the end of 2015. According to FMI estimates, the centralized segment would expand at a CAGR of 19.6% between 2015 and 2025.
The distributed segment is estimated to account for 34.4% share of the overall market by the end of 2015, and is forecast to expand at a CAGR of 19.5% over the forecast period.
The global battery management system market is segmented on the basis of regions into North America, Eastern Europe, Middle East & Africa (MENA), Asia Pacific Excluding Japan (APEJ), Western Europe, Latin America and Japan. By the end of 2015, APEJ is estimated to be the dominant region, accounting for around 29.1% share of the global market, followed by the North America and Western Europe.
APEJ battery management system market is estimated to be valued at US$ 557.2 Million by 2015 end and reach $3,807.1 million by 2025.
By the end of 2015, North America and Western Europe are estimated to be the other major contributors to global market, accounting for 24.5% and 16.3% share respectively of the overall market revenue. The market in Japan is estimated to account for 10.5% share of the global market by 2015 end, and register a CAGR of 18.3% during the forecast period.
Key players across the supply chain of the global battery management system market include OEMs/suppliers of BMS, BMU integrators and electronic devices manufacturers that manufacture BMS. Companies analysed in the report include The Ventec Company, Nuvation Engineering, Ashwoods Energy Limited, TWS, Lithium Balance Corporation, Vecture Inc., Toshiba Corporation, L&T Technology Services, Merlin Equipment Ltd., AVL, Navitas System LLC and Johnson Matthey Battery Systems.Analysis reveals that battery management system companies should continue to invest in markets in APEJ and North America to increase market share and expand consumer base
By Bon Peter
The Area 11 Command of the Nigeria Customs Service (NCS) in Onne, Rivers State surpassed its 2024 annual revenue target by N16 billion.
This information was revealed to newsmen by the Customs Area Controller of the Command, Mr Mohammed Babandede, at a news conference last week.
He also disclosed that the command recently intercepted 12 containers of illicit drugs worth over N20.30 billion concealed in various items.
According to him, the content of the seized container included 1,721,100 bottles of 100ml cough syrup codeine, 510,000 tablets of 50mg Really Extra Diclofenac, 7,100,000 tablets of 225mg Royal apple Tramadol and Tramaking, 3,461 pieces of sanitary ware fittings used for concealment, 840 pieces of Chilly cutter used for concealment, and 153 cartons of TVS rubber.
“Our vigilant officers and men have successfully intercepted and seized an additional 12 containers (40 feet) of illicit medicine.
“This is a testament to our unwavering commitment to safeguarding public health, ensuring security of our nation and compliance with Nigeria’s import regulations. This also justifies our commitment to trade facilitation, transparency, effective and efficient service,” he said.
He said last year, the command received the support of different stakeholders, thanking them for working with the agency to achieve success.
“We appreciate the continued support and collaboration of all stakeholders, including the media, in amplifying our message and efforts to combat smuggling,” he said.
Mr Babandede stated that, “It is worth noting that the morale and dedication of our officers have been significantly bolstered by the Comptroller-General of Customs’ award, recognizing Area 2 Command as the Best Command in Anti-Smuggling Operations.
“This honour has further strengthened our resolve, and I assure you that we will not relent in performing our duties to protect the lives and well-being of Nigerians.”
The customs chief said earlier last year, the command was given a revenue target of N618 billion but as of December 31, 2024, it generated N634 billion, higher than the N321 billion recorded in 2023, promising to do more in 2025.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 0.39 per cent on Friday as the demand for local equities continued to increase.
During the final trading session of the week, the insurance maintained its upward trend with a growth of 7.81 per cent as the banking index appreciated by 1.08 per cent, the consumer goods sector rose by 0.52 per cent, and the industrial goods counter expanded by 0.33 per cent, while the energy space went down by 0.49 per cent.
At the close of business, the All-Share Index (ASI) jumped by 406.19 points to 103,586.33 points from 103,180.14 points, and the market capitalisation increased by N248 billion to N63.166 trillion from N62.918 trillion.
The bourse recorded 67 appreciating shares and 11 depreciating shares, implying a positive market breadth index and strong investor sentiment.
Chams, Omatek, NCR Nigeria, Learn Africa, and Regency Alliance topped the gainers’ table after they gained 10.00 per cent each to finish at N2.31, 88 Kobo, N6.05, N4.95, and 88 Kobo, respectively.
On the flip side, TotalEnergies lost 9.74 per cent to trade at N630.00, CWG depreciated by 6.04 per cent to close at N7.00, Thomas Wyatt went down by 5.26 per cent to N1.80, ABC Transport crumbled by 4.07 per cent to N1.18, and UAC Nigeria shed 3.19 per cent to N31.90.
Yesterday, investors traded 709.3 million stocks valued at N8.2 billion in 13,593 deals compared with the 829.8 million stocks worth N5.7 billion transacted in 11,752 deals on Thursday, representing a slowdown in the trading volume by 14.52 per cent and a rise in the trading value and number of deals by 43.86 per cent and 15.67 per cent, respectively.
At the close of business, Chams topped the activity log with 58.1 million equities sold for N133.8 million, Veritas Kapital traded 55.1 million shares valued at N89.2 million, Abbey Mortgage Bank exchanged 50.1 million stocks for N165.5 million, AIICO Insurance transacted 39.7 million equities worth N68.3 million, and NPF Microfinance Bank sold 34.3 million stocks valued at N64.0 million.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its positive start to the year with a 0.08 per cent rise on Friday, January 3.
The market saw a gain of N840 million, with the value of the alternative bourse growing to N1.046 trillion from the N1.045 trillion it closed a day earlier as the NASD Unlisted Security Index (NSI) made an addition of 2.43 points to wrap the session at 3,052.34 points compared with 3,049.91 points recorded at the previous session.
The appreciation posted yesterday at the NASD OTC exchange was caused by two price gainers led by Industrial and General Insurance (IGI) Plc which jumped by 2 Kobo to end at 20 Kobo per share compared with the preceding session’s 18 Kobo per share and UBN Property Plc, which improved its value by 16 Kobo to close at N1.98 per unit, in contrast to Thursday’s closing price f N1.82 per unit.
The market posted a price loser, which was FrieslandCampina Wamco Nigeria Plc as it dropped 18 Kobo to finish at N39.76 share versus the previous day’s N39.94 per share.
There was an 856.6 per cent surge in the volume of securities traded in the session to 11.3 million units from the 1.2 million units traded in the preceding session.
Equally, there was a jump in the value of shares traded yesterday by 1,078.4 per cent to N56.8 million from the N4.8 million made previously, and the number of deals increased by 22.7 per cent to 27 deals from 22 deals.
FrieslandCampina Wamco Nigeria Plc was the most active stock by value (year-to-date) with 1.4 units worth N55.8 million, IGI Plc came next with 10.6 million units valued at N2.1 million, and 11 Plc was in third with 6,45 units sold for N1.4 million.
IGI Plc closed the day as the most active stock by volume (year-to-date) with 10.6 million units sold for N2.1 million, FrieslandCampina Wamco Nigeria Plc came next with 1.4 million units valued at N55.8 million, and UBN Property Plc followed with 275,740 units worth N545,965.
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