According to BIS Research, the global EV battery housing market generated revenue of $873.4 million in 2020 and is expected to reach $4,478.0 million by 2025 at a CAGR of 36.9%. In terms of volume, the total demand for EV battery housing material in 2020 was 279.7 kilotons which is expected to increase to 1,167.3 kilotons in 2025, growing at a CAGR of 31.5% during the forecast period. Growing penetration of EVs across the globe, increasing EV range, and battery capacity coupled with demand for robust vehicle design is benefitting the market growth.
The automotive industry is witnessing a massive transformation in terms of technological development as the sales of electric vehicles have increased significantly due to various factors such as rising environmental concerns, availability of technology, and growing demand. Battery protection and monitoring are a necessity with Li-ion battery packs to protect it from overvoltage and load impact during crash/accidents. To avoid damages by side-impact and pole impact load cases, the EVs are equipped with battery housing systems. The battery housing in an EV is responsible for providing crash-safe battery protection from electric shock and fire hazards. The development of advanced material and material composition for battery housing has significantly improved the design and structure of battery packs in EVs. The demand for light materials in order to increase the vehicle range is changing the material composition for battery housing.
Europe to Witness Fastest Growth Globally:
This report covers the global EV battery housing market and consequently provides the revenue of the key regions – North America, Europe, Asia-Pacific and Japan (APJ), China, the U.K., and Rest-of-the-World (RoW).
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Key Market Players and Competition Synopsis:
Some of the key players in the industry are SGL Carbon, Novelis Inc., Nemak, S.A.B. de C.V., Constellium SE, Gestamp Automocion, S.A., UACJ Corporation, GF Linamar LLC, Hanwha Advanced Materials, Minth Group, Continental Structural Plastics, ThyssenKrupp AG, TRB Lightweight, Hitachi Metals, Ltd., POSCO, and Norsk Hydro ASA. These market players in the EV battery housing market are coming up with different product launches in order to match with the competitors’ product portfolio. Product launch is becoming one of the most important strategies for gaining a competitive advantage in this growing industry.
The report constitutes an extensive study of the EV battery housing market. It includes a thorough analysis of different vehicle types as well as different materials used in the EV battery housing systems. EV battery housing market has further been segmented in terms of cell format, which helps in understanding the material requirements in battery enclosures of different battery packs. It further explains the driving forces, challenges, and growth opportunities of the EV battery housing market. Major players have been identified on the basis of revenue generation pertaining to the EV battery housing market, geographical presence, and developments related to battery enclosure systems. A detailed company profiling has been done in order to understand the player’s strategic behavior. The EV battery housing market is further explained and analyzed on the basis of geography. The geographical analysis has been categorized into six regions, namely, North America, Europe, Asia-Pacific and Japan, the U.K., China, and the Rest-of-the-World.
Key Questions Answered by This Report:
What are the underlying structures resulting in the emerging trends within the EV battery housing market?
What is the current and future production of EVs and battery packs in different regions?
What are the driving factors for the global EV battery housing market from 2019 to 2025?
Which factors are impeding the growth of the global EV battery housing market?
What are the growth opportunities and critical success factors for participants to compete in this market?
Who are the major players, and what strategic measures are being taken to increase their presence and market share?
Who are supplying battery enclosure materials to battery pack manufacturers and the OEMs?
Which material will be a prominent choice for EV battery housing manufacturers, battery pack manufacturers, and EV manufacturers?
Which application will lead the global EV battery housing market by 2025?
Which region will lead the global EV battery housing market by 2025?
How is the industry expected to evolve during the forecast period 2020-2025?
What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
What has been the impact of COVID-19 on the EV battery housing market?
The report is a compilation of various segmentations, including market breakdown by application, product, and region. The report highlights the key driving and restraining forces for the market as well as the opportunities in different applications across the leading countries. Also, the report highlights the impact of COVID-19 on the market. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies and organizations across the value chain.
The report also provides a country-based analysis for all the leading countries in every region, including the U.S., Canada, the U.K., China, Japan, South Korea, France, and Germany, among others. Each regional analysis details an individual push-and-pull force, in addition to the key players and applications in that region.
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don’t simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
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