Battery Fuel Gauges Market: Introduction
- A battery fuel gauge helps predict the status of health and state of charge of batteries. In other words, it helps determine how long a battery would continue to work under specific operating conditions.
- A battery fuel gauge is composed of an integrated hardware protection and second-level protection against permanent failure
- Battery fuel gauges are useful in various single-cell as well as multiple-cell battery packs of laptops, power tools, smartphones, notebooks, and energy storage systems.
- Moreover, they are also useful for higher-voltage batteries
Key Drivers of Global Battery Fuel Gauges Market
- The global battery fuel gauges market is expected to expand significantly during the forecast period, owing to increasing demand for battery fuel gauges for use in several applications in the renewable energy sector
- Moreover, battery fuel gauges are increasingly being used in solar and wind applications on offshore oil and gas platforms
- Companies operating in the global battery fuel gauges market are investing to expand their product portfolios as well as their distribution networks. They have adopted strategies such as mergers and acquisitions, development of new products, joint ventures, and expansions to cater to the increasing demand for battery fuel gauges in different regions.
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Consume Electronics Segment to Witness Attractive Opportunities
- Battery fuel gauges are increasingly being used in the consumer electronics industry to determine the battery state-of-charge of various consumer electronics products
- Moreover, battery fuel gauges are useful in batteries of smartphones, MPOS (mobile point-of-sale), smart watches, tablets, portable game players, augmented reality (AR) and virtual reality (AR) glasses, health and fitness monitors, power tools, and toys. This is expected to drive the global battery fuel gauges market during the forecast period.
Periodic Calibration of Battery Fuel Gauges
- Battery fuel gauges need periodic calibration in order to track any error developed due to repeated cycles of charging and discharging. This is expected to limit the usage of battery fuel gauges in several applications during the forecast period.
- However, the recent research and development of new battery fuel gauges is expected to boost the global battery fuel gauges market during the forecast period
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Asia Pacific to Hold a Major Share of Global Battery Fuel Gauges Market
- Asia Pacific is a leading region of the global battery fuel gauges market, followed by Europe and North America
- China, Japan, and India are key markets for battery fuel gauges in Asia Pacific. In terms of demand, these countries account for a major share of the market in the region.
- Increase in the demand for battery fuel gauges in Asia Pacific can be attributed to increasing demand for consumer electronics products led by increasing purchasing power of people in the region
Key Players Operating in Global Market
The global battery fuel gauges market is highly concentrated, with the top manufacturers accounting for approximately 25%–35% of the market share. A few of the key players operating in the global battery fuel gauges market are:
- Texas Instruments Incorporated
- ON Semiconductor
- Maxim Integrated
- Microchip Technology Inc.
- At Battery Company, Inc.
- LiTech Power Co., Ltd.
- Cadex Electronics
- Voltaplex Energy
- Analog Devices, Inc.