Market Overview
Electric Vehicle (EV) Battery Housing refers to the packaging or holding of a battery controlled by separately packaged control power electronics, where each package needs its cooling solution & housings.
According to the MarkNtel Advisors’ research report, “Global Electric Vehicle (EV) Battery Housing Market Analysis, 2021,” the market is likely to grow at a CAGR of around 38% during 2021-26. The market growth primarily attributes to the surging demand for electric vehicles, improvement in battery technology, supporting government policies & regulations, and the launch of new electric vehicle models. Besides, declining electric vehicle battery prices and the rising need for improving the performance of EVs are other crucial factors likely to provide lucrative opportunities to the Electric Vehicle (EV) Battery Housing Market across the globe.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 38% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France | |
| Asia-Pacific: China, India, Japan, South Korea, Australia | |
| South America: Brazil | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | 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., TRB Lightweight Structures |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
Due to the Covid-19 pandemic, many countries imposed a complete lockdown, which, in turn, affected the production of electric vehicles and battery components & housings. Manufacturing units worldwide got temporarily shut, and the sale of EVs witnessed a steep decline. However, the entire automobile industry resumed its operations with limited production and necessary measures after the government started relaxing the restriction to resume business activities in the third and fourth quarters of the previous year.
Market Segmentation
Passenger Car Accounted for the Largest Market Share
Based on the Vehicle Type, the market segments into All-Electric Vehicles, Hybrid Electric Vehicle & Plug-in Hybrid Electric Vehicle, and Two-wheelers. The All-Electric Vehicles segment further bifurcates into Passenger cars, Commercial Vehicles, Two-wheelers, and Three wheelers. Among these segments, Passenger Electric Vehicles acquired the largest share in the Global Electric Vehicle (EV) Battery Housing Market in the past few years. The segment growth owes to changing consumer lifestyle coupled with burgeoning purchasing power aiding the sales of premium passenger electric cars. Moreover, demand for safe & efficient rides augmenting the need for the best quality housing for enclosing EV batteries is another crucial factor likely to drive the segment growth, reveals MarkNtel Advisors in their research report, “Global Electric Vehicle (EV) Battery Housing Market Analysis, 2021.”
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Glass Fiber-Reinforced Polymer (GFRP) Dominated the Market
Based on the Material, the market bifurcates into Steel, Aluminum, Glass Fiber-Reinforced Polymer (GFRP), and Carbon Fiber Reinforced Polymer (CFRP). However, Glass Fiber-Reinforced Polymer (GFRP) captured a significant market share in the past few years. GFRP is a cost-effective material that has the full potential to increase the life of battery housing and protect it from corrosion. In addition to this, it can be manufactured in custom lengths & shapes and conveniently installed. Hence, these benefits offered by GFRP owe to their growth.
Regional Landscape
Europe Attained the Highest Market Share
Geographically, Europe held the largest share in the Global Electric Vehicle (EV) Battery Housing Market in the past few years due to increasing government funding toward the EV market as electric vehicles are currently expensive. Besides, the abundant presence of OEMs in the region also contributed to the market growth.
Market Driver
Rising Concerns towards Battery Safety Boost the Market Growth
The surging demand for electric vehicles in the market has increased the manufacturers’ focus to enhance the safety features in EVs. Therefore, the primary idea to improvise safety features is to implement reliable quality battery housing for high impact requirements, exhibit exceptional mechanical properties, and provide the desired weight savings.
Competitive Landscape
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., TRB Lightweight Structures.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The Global Electric Vehicle (EV) Battery Housing Market is forecast to grow at a CAGR of 38% during 2021-26.
A. 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., TRB Lightweight Structures are a few of the leading players in the Global Electric Vehicle (EV) Battery Housing Market.
A. Glass Fiber-Reinforced Polymer (GFRP) is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. Europe continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Electric Vehicle (EV) Battery Housing Market.
A. Increasing demand for electric vehicles, mounting concerns toward the environment, and burgeoning government support are the prime factors fueling the market growth.
A. The outbreak of the COVID-19 pandemic has adversely affected the Global Electric Vehicle (EV) Battery Housing Market due to the lockdown imposed, restrictions on cross-border trade, supply chain disruptions, and the temporary shutdown of manufacturing units reducing the production capacity of EVs.
