
Global Electric Vehicle (EV) Battery Housing Market Research Report: Forecast (2023-2028)
By Material (Steel, Aluminum, Glass Fiber-Reinforced Polymer (GFRP), Carbon Fiber Reinforced Polymer (CFRP)), By Cell Format Type (Pouch Cell, Cylindrical Cell, Prismatic Cell), By...Vehicle Type (All-Electric Vehicles [Passenger cars, Commercial Vehicles, Two Wheelers, and Three wheelers], Hybrid Electric Vehicle & Plug-in Hybrid Electric Vehicle [Passenger cars, Commercial Vehicles], Two Wheelers), By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa), By Country (U.S, Canada, Brazil, Mexico, Germany, France, The UK, China, India, Japan, Australia, UAE, Saudi Arabia, South Africa), By Competitors (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) Read more
- Automotive
- May 2023
- 276
- PDF, Excel, PPT
Market Definition
Electric Vehicle (EV) Battery Housing is a box specially designed to store the battery of an Electric Vehicle. In other terms, it refers to the packaging or holding of a battery controlled by separately packaged power electronics, where each package demands its cooling solution & housings.
Market Insights
The Global Electric Vehicle (EV) Battery Housing Market is projected to grow at a CAGR of around 38% during the forecast period, i.e., 2023-28. The market is likely to be significantly influenced by the transformation in batteries, especially lithium-ion, the rapid global shift from fuel-based cars to electric vehicles, the newest designs and models in electric vehicles using the latest technology, lower-maintenance cost & lower emission of air pollutants facilitated by electric vehicles, increasing government initiatives and frameworks, and so on.
Report Coverage | Details |
---|---|
Study Period | Historical Data: 2018-21 |
Base Year: 2022 | |
Forecast Period: 2023-28 | |
CAGR (2023-2028) | 38% |
Regions Covered | North America: USA, Canada, Mexico |
Europe: Germany, UK, France, other | |
Asia-Pacific: China, India, Japan, South Korea, Australia | |
South America: Brazil, other | |
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 |
Besides, declining electric vehicle battery prices and the rising need for improving EV performance are other crucial factors, including more employment of lightweight materials in producing vehicles that can credibly provide lucrative opportunities to enhane the Electric Vehicle (EV) Battery Housing Market size.
Market Dynamics
Key Driver: Ever-Increasing Demand for Electric Vehicles as A Sustainable Substitute to ICE Vehicles
Offering incentives to the buyers, establishing more charging stations along with Hydrogen fuel stations across the globe, more lifespan as compared to the standard cars, zero-emission vehicles through tax rebates and subsidies, and strengthening security features are some of the crucial aspects that will contribute to the global rise in the demand for EV cars. As a result, the market is anticipated to expand in the upcoming years. Additionally, the primary idea for improvising safety features is to implement
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Additionally, the employment of reliable quality battery housing, exhibiting exceptional mechanical properties for high-impact requirements, provides the desired weight savings and improvises the safety features. Therefore, the rise in the purchasing orders for EVs directly relates to expanding the Global Electric Vehicle (EV) Battery Housing Market as it stimulates the demand for batteries.
Possible Restraint: Lack of Enough EV Charging Stations Globally
Inadequate charging stations globally can act as an obstacle to electric vehicle growth and indirectly impact market for batteries housing. Although a few countries have achieved satisfactory levels in terms of creating ev charging infrastructures, many countries still need to catch up in establishing enough charging stations in their provinces. For instance, The Netherlands is reported to have the highest number of stations located at a distance of 100 km. Within this specific range, they have built 19-20 charging stations. On the other hand, China is ranked second with 3-4 stations per 100 km. Similarly, the United Kingdom is third with three stations per 100 km. Thus, others countries need to follow in the footsteps of these countries for EVs to thrive during the forecast period.
Growth Opportunity: Prominence of Battery Swapping Ecosystem as an alternative to Fixed Batteries
Like fueling stations for ICE vehicles, adequate, affordable, accessible, and reliable charging networks are pre-requisite for mass EV adoption. Battery swapping, being an alternative, involves exchanging discharged batteries for charged ones and provides the flexibility to charge them separately. This de-links charging and battery usage and keeps the vehicle operating with negligible downtime. However, Battery swapping is generally used for smaller vehicles such as electric two and three-wheelers with smaller batteries that exhibit easier swapping, compared to 4-wheelers and e-buses.
The increasing number of electric cars and bus adoption is an opportunity for the market players to develop better solutions. A limited number of battery-swapping service providers have been engaging with original equipment manufacturers (OEMs), individual/commercial users, and other relevant stakeholders to develop battery-swapping service ecosystems. In view of this, the Indian government, during Budget 2022-2023, announced plans to introduce a Battery Swapping Policy and interoperability standards to build and improve the efficiency of the battery-swapping ecosystem to promote EV adoption.
Market Segmentation
Based on Cell Format Type,
- Pouch Cell
- Cylindrical Cell
- Prismatic Cell
Of these, the Cylindrical Cell holds a significant proportion of the Global Electric Vehicle (EV) Battery Housing Market share owing to the adoption of this specific cell by the vast range of two- and three-wheeler OEMs. Because cylindrical cells are already self-contained in a shell that provides adequate mechanical resistance, they are the most affordable configuration to manufacture. In addition, the technology is affordable and developed, making it a simple format. Therefore, ever since the historical period, the Cylindrical cell has gathered significant prominence, and also it accounts for offering a plethora of conveniences, driving the segment further.
Based on Vehicle Type,
- All Electric Vehicles
- Passenger cars
- Commercial Vehicles
- Two wheelers and Three wheelers
- Hybrid Electric Vehicle & Plug in Hybrid Electric Vehicle
- Passenger cars
- Commercial Vehicles
- Two wheeler
In accordance with the vehicle type, Passenger Cars have been responsible for being a shark in propelling the growth of the market for EV battery housing. The demand is anticipated to continue rising in the future due to an increase in the number of users choosing taxis as their mode of transportation, which is driving up the price of battery enclosures. Additional variables propelling this rise include incentives from the government, improved charging infrastructure, as well as the rising demand for zero-emission vehicles.
Regional Projection
Geographically, the Global Market expands across:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Of all these major regions, the Asian-Pacific area has been consecutively subjugating the market dynamics and will continue to do the same during the projected period as well. Major countries of this region, including China and Japan, are consistently urging growth since they are the emerging manufacturers of the EV industry and are a global producer of the battery housing. Other countries like India and South Korea are not far behind as the demand for batteries is growing exponentially in these countries, thus leading the global supply chain, which is another crucial aspect in accelerating market expansion.
Recent Developments in the Global Market
- In February 2022, MG Motors unveiled the MG 4, which is scheduled to start running on the roads of India later in 2022. It was reported that the vehicle is expected to cover a maximum distance of 400 km in one go, thanks to its 61.1 kWh battery pack. With its "One Pack" battery technology (known as the Rubik's Cube battery system in China), the MG4 EV is said to incorporate a smaller and flatter battery in comparison to ordinary battery electric vehicles. The expected price of the vehicle is valued at around 15-21 lakhs.
Gain a Competitive Edge with Global Electric Vehicle (EV) Battery Housing Market Report
- Global Electric Vehicle (EV) Battery Housing Market Report by Markntel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
- This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
- Global Electric Vehicle (EV) Battery Housing Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.
Frequently Asked Questions
- Introduction
- Product Definition
- Research Process
- Assumptions
- Market Definition
- Executive Summary
- Impact of COVID-19 on Global Electric Vehicle (EV) Battery Housing Market
- Global Electric Vehicle (EV) Battery Housing Market Regulations & Policy
- Global Electric Vehicle (EV) Battery Housing Market Trends & Insights
- Global Electric Vehicle (EV) Battery Housing Market Dynamics
- Drivers
- Challenges
- Impact Analysis
- Global Electric Vehicle (EV) Battery Housing Market Hotspots & Opportunities
- Global Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Steel
- Aluminum
- Glass Fiber-Reinforcede Polymer (GFRP)
- Carbon Fiber Reinforced Polymer (CFRP)
- By Cell Format Type
- Pouch Cell
- Cylindrical Cell
- Prismatic Cell
- By Vehicle Type
- All Electric Vehicles
- Passenger cars
- Commercial Vehicles
- Two wheelers and Three wheelers
- Hybrid Electric Vehicle & Plug in Hybrid Electric Vehicle
- Passenger cars
- Commercial Vehicles
- Two wheeler
- All Electric Vehicles
- By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
- By Competitors
- Competition Characteristics
- Market Share & Analysis
- Competitive Matrix
- By Material
- Market Size & Analysis
- North America Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- By Cell Format Type
- By Vehicle Type
- By Country
- The U.S.
- Canada
- Mexico
- Others
- The U.S. Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Canada Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Mexico Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Market Size & Analysis
- South America Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- By Cell Format Type
- By Vehicle Type
- By Country
- Brazil
- Others
- Brazil Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Market Size & Analysis
- Europe Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- By Cell Format Type
- By Vehicle Type
- By Country
- The U.K.
- Germany
- France
- Others
- The U.K. Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Germany Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- France Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Market Size & Analysis
- Asia-Pacific Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- By Cell Format Type
- By Vehicle Type
- By Country
- China
- India
- Japan
- South Korea
- Others
- China Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- India Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Japan Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- South Korea Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Market Size & Analysis
- Middle East and Africa Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- By Cell Format Type
- By Vehicle Type
- By Country
- UAE
- Saudi Arabia
- South Africa
- Others
- UAE Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Saudi Arabia Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- South Africa Electric Vehicle (EV) Battery Housing Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues
- Market Share & Analysis
- By Material
- Market Size & Analysis
- Market Size & Analysis
- Global Electric Vehicle (EV) Battery Housing Market Key Strategic Imperatives for Success and Growth
- Competition Outlook (Whichever Applicable)
- Competition Matrix
- Brand Specialization
- Target Markets
- Target End Users
- Research & Development
- Strategic Alliances
- Strategic Initiatives
- Company Profiles
- 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
- Competition Matrix
- Disclaimer
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