Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Electric Vehicle (EV) Battery Housing Market - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific electric vehicle battery housing market (excluding China) is projected to reach $1.88 billion by 2032 from $530.5 million in 2023, growing at a CAGR of 15.15% during the forecast period 2023-2032. The growth of the electric vehicle battery housing market is projected to be driven by increased interest in electric vehicles, the expansion of charging infrastructure, the requirement for lighter materials, and the quest for improved driving range, among other factors.
The Asia-Pacific (APAC) electric vehicle battery housing market is experiencing robust growth, primarily driven by the soaring demand for electric vehicles (EVs) across the region. With governments encouraging eco-friendly transportation solutions and setting ambitious emissions reduction targets, there is a rapid adoption of EVs. The expansion of charging infrastructure, both in urban areas and along major roadways, further supports this growth.
Moreover, lightweight materials are being increasingly employed in battery housings to enhance energy efficiency and driving range, aligning with the ever-evolving EV technology. Additionally, the APAC region boasts a thriving automotive manufacturing sector, making it a focal point for battery housing production. As a result, the APAC electric vehicle battery housing market is poised for continued expansion, offering significant opportunities for manufacturers, investors, and industry stakeholders in the evolving electric mobility landscape.
Leading electric vehicle OEMs are continuously working to manufacture and sell vehicles with higher range. The growing need for affordable and high-performing electric vehicle battery housing is one of the major factors for the growth of the electric vehicle battery housing market. The market is more on the consolidated side at present, where electric vehicle battery housing manufacturers have been successful to a certain extent in strengthening their market position in the APAC market.
However, with the rise of electric vehicles with better ranges, the existing established players are expected to face stiff competition from emerging players. Moreover, partnerships and collaborations are expected to play a crucial role in strengthening market position over the coming years, with the companies focusing on bolstering their technological capabilities and gaining a dominant market share in the electric vehicle battery housing industry.
Market Segmentation:
Segmentation by Cell Format
- Pouch Cell
- Cylindrical Cell
- Prismatic Cell
Segmentation by Vehicle Type
- 2-Wheeler
- 3-Wheeler
- Off Road Vehicles
- Commercial Vehicles
- Passenger Vehicles
Segmentation by Material Type
- Steel
- Aluminium
- GFRP
- CFRP
Segmentation by Battery Chemistry Type
- Lithium-Ion
- Lead Acid
- Others
Segmentation by Component Type
- Top Cover
- Bottom Cover
- Others
Segmentation by Country
- Japan
- South Korea
- Rest-of-Asia-Pacific and Japan
Growth/Marketing Strategy:
The electric vehicle battery housing market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships, agreements, and collaborations.
Competitive Strategy:
The key players in the APAC electric vehicle battery housing market analyzed and profiled in the study include steel suppliers, aluminium suppliers, plastics suppliers, electric vehicle battery housings manufacturers that develop, maintain, and market electric vehicle battery housings.
Moreover, a detailed competitive benchmarking of the players operating in the electric vehicle battery housing market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Some prominent names established in this market are:
- UACJ Corporation
- Minth Group
- Hanwha Solutions Advanced Materials
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $530.5 Million |
| Forecasted Market Value (USD) by 2032 | $1888.2 Million |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
Executive Summary
Scope of the Study
1 Markets
1.1 Industry Outlook
1.1.1 Electric Vehicle Trends: Current and Future
1.1.2 Electric Vehicle Battery Housing Market: Overview
1.1.2.1 Timeline: Evolution of the EV Battery Industry
1.1.2.2 Increasing EV Range: Decreasing Battery Pack Weight
1.1.2.3 Securing the Supply of Lithium-Ion Batteries by EV Manufacturers
1.1.3 Supply Chain Analysis
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Demand for EVs Globally
1.2.1.2 Rising Concern Toward the Environment
1.2.1.3 Increasing Government Support
1.2.1.4 Growing EV Battery Production and Robust Design Requirements
1.2.1.5 Continuously Declining Price of Li-Ion Battery
1.2.2 Business Challenges
1.2.2.1 Lack of Standardization
1.2.2.2 Underdeveloped Value Chain for Raw Materials in Developing Countries
1.2.2.3 Development of Electric Roads
1.2.3 Business Strategies
1.2.4 Corporate Strategies
1.2.5 Business Opportunities
1.2.5.1 Light Weight Battery Housing Systems: From Steel to Aluminum
1.2.5.2 Housing with Integrated Cooling Systems
1.2.5.3 Composite Battery Housings: Lightweight and Safe
1.2.5.4 Battery Swapping Systems
2 Region
2.1 Asia-Pacific and Japan
2.1.4 Asia-Pacific and Japan (by Country)
2.1.4.1 Japan
2.1.4.2 South Korea
2.1.4.3 Rest-of-Asia-Pacific and Japan
2.2 China
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Key Suppliers
3.2 Competitive Benchmarking
3.3 Company Profiles
- UACJ Corporation
- Hanwha Solutions Advanced Materials
- Minth Group
- Hitachi Metals, Ltd
- Teijin Limited
For more information about this report visit https://www.researchandmarkets.com/r/avhse5
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