According to MarkNtel Advisors’ research report, “Global Electric Vehicle (EV) Battery Housing Market Analysis, 2021,” the market is likely to grow at a CAGR of 38% during 2021-26, primarily due to the burgeoning demand for electric vehicles. Currently, the prime priority of electric vehicle manufacturers is to provide maximum protection to the vehicle's core component, i.e., its battery. Therefore, the demand for EV battery housing is rising significantly, thereby propelling the overall market growth.
Key questions answered in the study
Hybrid Electric Vehicle & Plug-in Hybrid Electric Vehicle Exhibits Fastest Growth
Based on the Vehicle Type, the market bifurcates into All-Electric Vehicle, Hybrid Electric Vehicle & Plug-in Hybrid Electric Vehicle and Two-wheelers. Of these three categories, the Hybrid Electric Vehicle & Plug-in Hybrid Electric Vehicle segment is likely to grow substantially during the forecast period. Hybrid Electric Vehicles help reduce fuel consumption and eliminate the dependence on charging stations. Further, Hybrid Electric Vehicle's battery can be charged efficiently, both in an external source and onboard engine. Therefore, these factors lead to the surging demand for hybrid electric vehicles & plug-in hybrid electric vehicles, among others.
“Global Electric Vehicle (EV) Battery Housing Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Electric Vehicle (EV) Battery Housing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The market further divides into North America, South America, Europe, Asia-Pacific, and the Middle East & Africa. Among these, the Asia Pacific region is more likely to register the fastest growth in the Global Electric Vehicle (EV) Battery Housing Market during the forecast period. In Asia-Pacific, China holds the largest market share due to the low labor & maintenance costs. Moreover, the growth attributes to the surging demand for electric vehicle batteries and the rising preferences toward electric vehicles in the region. Hence, based on these factors, the Asia Pacific region is very likely to contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, “Global Electric Vehicle (EV) Battery Housing Market Analysis, 2021.”
According to MarkNtel Advisors, the major leading players in the Global Electric Vehicle (EV) Battery Housing Market are SGL Carbon SE, Novelis Inc., Constellium SE, Nemak, S.A.B. de C.V., GF Linamar LLC, Minth Group, ThyssenKrupp AG, Hitachi Metals, Ltd., POSCO, Norsk Hydro ASA, Gestamp Automocion, S.A., UACJ Corporation, Hanwha Advanced Materials, Continental Structural Plastics Inc., and TRB Lightweight Structures.