![]() ![]() ![]() With recent developments and advancements, a lithium-ion battery can be used to jump-start the car, and it only weighs a couple of pounds. ![]() For instance, although the primary purpose of a car battery is to start the car, it is cumbersome and bulky. In the past few years, the efficiency of a battery in terms of how much power it can output with respect to size and weight has enhanced drastically. Battery advancements are stoking this progression in a large array of products right from portable power tools to plug-in hybrid electric vehicles and wireless speakers. Today's electronic devices have higher mobility and are greener than ever before. The constant transformation of battery technology has compelled many manufacturers to learn about designing battery management systems. Widening Application Areas for Battery Management The significant level of uncertainty among the countries is threatening the infrastructure spending, disturbance in supply chains, and reduced investments in construction projects. Furthermore, the construction sector has been affected by the trade war has indirectly influenced the battery system market.Īccording to the National Association of Home Builders (NAHB), residential construction activities in the first quarter of 2018 fell from 61.6% to 57.1%, owing to higher construction costs and tight inventory conditions. The failure of the economies to resolve the issue has increased the overall cost of electronics products or even led to the temporary closure of the items. government raised the tariffs from 10% to 25% on Chinese goods worth USD 200 billion. and several other countries are heavily dependent on the Chinese imports of these materials. China is one of the major producers and the largest consumers of electronics devices in the world. on Chinese products, steel, aluminum, battery, has adversely affected the electronics sector. Moreover, the immediate impact of the high tariffs levied by the U.S. High tariffs levied on products have disrupted global trade and economy. The trade dispute between the two giant economies has also affected many sectors, including construction and infrastructure development. ![]() In Germany, the economy is moving towards recession and economic crisis, affecting other dependent economies such as Spain and Greece. from the European Union have severely hit the consumer electronics market, inflicting a slow growth rate of the IC market. It also requires a high level of expertise to assemble the whole circuit making the process slow, and that poses a challenge for the battery management ICs market.įurthermore, the ongoing trade war between the U.S. The entire manufacturing process occurs in a tightly controlled environment, also known as a cleanroom. Hundreds of integrated circuits are produced simultaneously on a single, thin slice of silicon and are then cut apart into individual IC chips. Its integration process is way too complicated, requiring highly skilled technicians to manufacture it. The battery management integrated circuits have very sophisticated technology. Complex Integration Process, and Challenging Economic and Political Scenarios These aforementioned factors are anticipated to be the key factors fueling the growth of the global battery management ICs market during the forecast period. There has been a paradigm shift in the technological advancements, driving the market with full sway. This was led by China, which is the largest manufacturer of EVs vehicles. Also, the increasing awareness of users towards zero-emission vehicles has further boosted the demand for batteries across the automotive industry.įor instance, according to the Edison Electric Institute (EEI), the global EVs sales were sized around 2.1 million for 2018, which was an increase of 64% more than the total EVs sold in 2017. This trend, in turn, has led to a rise in the demand for batteries across various sustainable energy sectors for energy storage. In light of the Go Green trend in the market, individuals are looking for a more sustainable source to meet their energy demand. Additionally, the increasing adoption of electric vehicles to control the ever-increasing carbon footprint has boosted the demand for lithium-ion batteries. The rapid technological advancements, rising urbanization, improving consumer spending coupled with rising living standards have led to the rise in the demand for consumer electronics devices which is further enduring demand for batteries, cell, and packaging solutions. Market Dynamics Technological Advancements ![]()
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