Electric Vehicle Battery Housing Market, By Material, By Applications, By Cell Format Type, By Country, and By Region: Industry Analysis, Market Size, Market Share, and Forecast from 2024 to 2032
Electric Vehicle Battery Housing Market size was evaluated at USD 13,241.2 million in 2023, rising at a CAGR of 10.50% between 2024 and 2032.
The electric vehicle battery housing market pertains to a market that deals with the designing, manufacturing, and supplying of protective casings or enclosures that serve as housing for electric vehicle (EVs) batteries. These casings are essential in that they provide structural support, protect them against environmental factors, and ensure safety during operation to prevent damage and hazards. Materials used for these casings include aluminum, plastic, and composite materials, which ensure them to be of a minimum weight while remaining robust.
Electric Vehicle Battery Housing Market- Market Dynamics
Government Incentives and Policies
The market for EV battery housings is influenced by the various incentives that governments across the world are putting in place to encourage people to transition to electric automobiles. The primary purpose of these incentives is to reduce the cost barrier for prospective EV buyers. They are made up of subsidies, tax cuts, and refunds. In the United States, a tax credit of up to $7,500 effectively reduces the entry price for buyers, making electric vehicles (EVs) financially competitive with internal combustion engine automobiles. According to the IRS, a new qualifying plug-in electric vehicle (EV) acquired before 2023 may be eligible for a $7,500 clean car tax credit under Section 30D of the Internal Revenue Code. Furthermore, such laws stimulate customer demand for electric vehicles, which boosts manufacturing output. As more electric vehicles are created, the demand for crucial parts such as battery housings grows. Furthermore, by offering government-backed financial incentives, automakers are encouraged to increase their electric vehicle lineup. This, in turn, drives developments in battery technology and housing solutions, both of which are crucial to vehicle efficiency and safety, leading to the growth of the electric vehicle (EV) battery housing market.
Electric Vehicle Battery Housing Market- Key Insights
Our research analyst predicts a 10.50% CAGR for the global market from 2024 to 2032.
In 2023, the Passenger vehicle sector led the global market, according to application segmentation research.
In 2023, the cylindrical cells sector dominated the worldwide Electric Vehicle Battery Housings market by cell format type segmentation.
According to region, The Asia Pacific region led the market in 2023
Electric Vehicle Battery Housing Market- Segmentation Analysis:
The global release liner market is divided into four groups: Material, Applications, Cell Format Type, and geography.
The market is segmented into two divisions based on the Applications: Commercial Vehicles and Passenger Vehicles. Passenger vehicles are the largest segment due to the rising global demand for personal electric vehicles, as consumers prefer eco-friendly and energy-efficient transportation options. This category benefits from large expenditures in EV technology and infrastructure, allowing for breakthroughs in battery performance and vehicle design. As a result, leading companies are launching advanced product versions to fulfill the diverse wants of consumers.
The market is classified into three segments depending on the Cell Format Type: Cylindrical Cell, Prismatic Cell, and Pouch Cell. Cylindrical cells dominate as the largest sector because of their small design and ease of packing into dense modules, maximizing space within the battery housing. Furthermore, cylindrical cells provide greater cooling efficiency, which is critical for sustaining battery performance and longevity and is driving market expansion. Aside from that, the cell type has a considerable impact on the design and materials utilized in EV battery housings, reflecting changing market demands and technological improvements, hence contributing to market growth.
Electric Vehicle Battery Housing Market- Geographical Insights
This market is geographically diversified across Europe, the Middle East, North America, Asia Pacific, and Africa, Latin America. The regions are further divided by the nations that bring commerce. The Asia Pacific region dominated the market in 2023 and is likely to maintain its dominance over the forecast period, with the quickest CAGR. The APAC region's growth is attributable to the presence of a robust automotive sector in growing economies such as China, India, and Japan. Additionally, rising demand for electric vehicles in India, China, Japan, and South Korea is driving market expansion.
Europe has the second-largest market share, owing to its early adoption of electric vehicles. Manufacturers are making significant investments in electric vehicle production, which has fueled innovation and acceptance of EV component manufacturing, such as EV battery packs and housing. European firms have actively researched and produced advanced battery technology, EV housing materials, safety, and management security. Such advances increase the need for electric vehicle battery housing.
Electric Vehicle Battery Housing Market- Competitive Landscape:
The electric vehicle (EV) battery housing market research study also includes an in-depth analysis of the market's competitive landscape. All important companies have been profiled in detail. UACJ Corporation, Hanwha Advanced Materials, Minth, GF Linamar LLC, ThyssenKrupp AG, and TRB Lightweight are among the top EV battery housing market players. At present, prominent competitors in the electric vehicle (EV) battery housing market are implementing strategic strategies to boost their growth. They are committed to developing lightweight and thermally efficient materials to improve battery performance and vehicle range. Partnerships with car manufacturers, as well as investments in innovative manufacturing technology, have an impact on market growth. To address the growing demand for EVs, these companies are extending their global presence through mergers and acquisitions and increasing production capacity. To address these needs, prominent manufacturers are launching enhanced product versions.
Recent Developments:
In January 2023, Gestamp Automocion S.A. (Gestamp) launched its fourth hot stamping line in India and showcased its innovative mobility goods and innovations for the second time at the Indian Auto Expo 2023. In addition to the existing hot stamping lines in Pune and Chennai, a new one is scheduled to launch by the end of 2023. At the exhibition, Gestamp showed its extremely small parts, battery boxes, cell-to-pack concepts, connecting technologies, chassis innovative lightweight solutions, and active franks.
SCOPE OF THE REPORT
This report's scope includes the following important market segments:
GLOBAL ELECTRIC VEHICLE BATTERY HOUSING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Constellium SE
Hitachi Metals Ltd.
Gestamp Automation
UACJ Corporation
Hanwha Advanced Materials
Month
GF Linamar LLC
ThyssenKrupp AG
TRB Lightweight
POSCO
Norsk Hydro ASA
Continental Structural Plastics
Others
GLOBAL ELECTRIC VEHICLE BATTERY HOUSING MARKET, BY MATERIAL- MARKET ANALYSIS, 2019 - 2032
Non-metallic
Metallic
GLOBAL ELECTRIC VEHICLE BATTERY HOUSING MARKET, BY APPLICATIONS- MARKET ANALYSIS, 2019 - 2032
Commercial Vehicle
Passenger Vehicle
GLOBAL ELECTRIC VEHICLE BATTERY HOUSING MARKET, BY CELL FORMAT TYPE- MARKET ANALYSIS, 2019 - 2032
Cylindrical Cell
Prismatic Cell
Pouch Cell
GLOBAL ELECTRIC VEHICLE BATTERY HOUSING MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Electric Vehicle Battery Housing Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Electric Vehicle Battery Housing Market Snippet by Material
2.1.2. Electric Vehicle Battery Housing Market Snippet by Applications
2.1.3. Electric Vehicle Battery Housing Market Snippet by Cell Format Type
2.1.4. Electric Vehicle Battery Housing Market Snippet by Country
2.1.5. Electric Vehicle Battery Housing Market Snippet by Region
2.2. Competitive Insights
3. Electric Vehicle Battery Housing Key Market Trends
3.1. Electric Vehicle Battery Housing Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Electric Vehicle Battery Housing Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Electric Vehicle Battery Housing Market Opportunities
3.4. Electric Vehicle Battery Housing Market Future Trends
4. Electric Vehicle Battery Housing Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Electric Vehicle Battery Housing Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Electric Vehicle Battery Housing Market Landscape
6.1. Electric Vehicle Battery Housing Market Share Analysis, 2023
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Electric Vehicle Battery Housing Market - By Material
7.1. Overview
7.1.1. Segment Share Analysis, By Material, 2023 & 2032 (%)
7.1.2. Non-metallic
7.1.3. Metallic
8. Electric Vehicle Battery Housing Market - By Applications
8.1. Overview
8.1.1. Segment Share Analysis, By Applications, 2023 & 2032 (%)
8.1.2. Commercial Vehicle
8.1.3. Passenger Vehicle
9. Electric Vehicle Battery Housing Market - By Cell Format Type
9.1. Overview
9.1.1. Segment Share Analysis, By Cell Format Type, 2023 & 2032 (%)
9.1.2. Cylindrical Cell
9.1.3. Prismatic Cell
9.1.4. Pouch Cell
10. Electric Vehicle Battery Housing Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2023 & 2032 (%)
10.2. North America
10.2.1. Overview
10.2.2. Electric Vehicle Battery Housing Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
10.2.4. North America Market Size and Forecast, By Material, 2019 - 2032 (US$ Million)
10.2.5. North America Market Size and Forecast, By Applications, 2019 - 2032 (US$ Million)
10.2.6. North America Market Size and Forecast, By Cell Format Type, 2019 - 2032 (US$ Million)