Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Electric Vehicle (EV) Battery Housing Market - A Global and Regional Analysis: Focus on Battery Housing Vehicle Type, Cell Format, Battery Chemistry, Material, Component, and Country Analysis - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The global electric vehicle battery housing market is projected to reach $13.54 billion by 2032, growing at a CAGR of 13.14% during the forecast period 2023-2032. The growth is driven by the increasing demand for electric vehicles, charging infrastructure, lightweighting materials, and improved battery range.
Introduction to Electric Vehicle Battery Housing:
Electric vehicle battery housing is a structural component that encloses and protects the battery pack in an electric vehicle. It dissipates heat from the battery pack and prevents the spread of fire in case of battery failure. The housing is made of materials like aluminum, steel, and plastic, depending on the design requirements. It is crucial for thermal management, performance, and safety of the battery.
Market Introduction:
The electric vehicle battery housing market is rapidly growing due to the increasing adoption of electric vehicles. Major players in the market are ThyssenKrupp AG, SGL Carbon, Nemak, Novelis Inc., Constellium SE, Covestro AG, etc. These companies focus on developing innovative battery housing solutions to meet the rising electric vehicle demand.
Industrial Impact:
The electric vehicle battery housing market has significant industrial impact, driving growth in the automotive, electronics, and metal industries. The automotive sector is the largest consumer, followed by electronics, as battery technology advances. The metal industry also benefits due to the demand for materials like aluminum and steel for battery housings.
Market Segmentation:
The report highlights different segments of the electric vehicle battery housing market, including:
- Cell Format: Prismatic cells are expected to dominate the market due to higher energy density, flexibility, and cost-effectiveness compared to cylindrical cells.
- Vehicle Type: Passenger vehicles dominate the market due to affordability, comfort, and government incentives. The segment is expected to grow faster than others.
- Material Type: Aluminum is expected to dominate the market due to its lightweight, strength, and cost-effectiveness. It is also recyclable, making it sustainable.
- Battery Chemistry Type: Lithium-ion batteries dominate the market due to high energy density, long lifespan, and low cost.
- Component Type: The bottom cover segment is expected to dominate as it provides structural support and dissipates heat effectively.
- Region: The Asia-Pacific and Japan region is expected to dominate the market due to the increasing demand for electric vehicles, presence of major battery manufacturers, skilled labor availability, and favorable government policies.
Recent Developments:
Recent developments in the electric vehicle battery housing market include partnerships and agreements to develop battery housings for electric vehicles.
Demand Drivers, Limitations, and Opportunities:
- Market Demand Drivers: The increasing demand for electric vehicles, rising environmental concerns, government incentives, and advances in EV battery technology are driving the demand for battery housings.
- Market Challenges: The high cost of materials, lack of standardization, demand volatility, and competition from other materials are some challenges faced by the electric vehicle battery housing market.
- Market Opportunities: Opportunities in the market include the rise of lightweight materials, development of integrated cooling systems, and growth of battery swapping systems.
Key Market Players and Competition:
Key market players in the electric vehicle battery housing market include SGL Carbon, Novelis Inc., Nemak, Constellium SE, Gestamp Automocion, UACJ Corporation, GF Linamar LLC, Hanwha Solutions Advanced Materials, Minth Group, ThyssenKrupp AG, TRB Lightweight, Hitachi Metals, Norsk Hydro ASA, Magna International Inc., Kautex Textron GmbH & Co. KG, Teijin Limited, LANXESS, Evonik Industries AG, Saudi Basic Industries Corporation (SABIC), and Covestro AG. These companies are focusing on partnerships, agreements, and collaborations to strengthen their market position and meet the increasing demand for electric vehicle battery housings.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 245 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $4.46 Billion |
| Forecasted Market Value (USD) by 2032 | $13.54 Billion |
| Compound Annual Growth Rate | 13.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/n8ft94
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