The Global Electric Vehicle (EV) Battery Housing Market size is expected to reach $24.3 billion by 2030, rising at a market growth of 13.2% CAGR during the forecast period.
North America has seen tremendous investment in charging networks, making it easier for EV owners to charge their vehicles and lowering range anxiety. Therefore, the North America region captured $1,847.3 million revenue in the market in 2022. Consumers in North America are increasingly recognizing the environmental benefits of EVs, including reduced greenhouse gas emissions and decreased dependence on fossil fuels. Urban areas in North America are increasingly adopting clean air initiatives and sustainable urban planning.
The expansion of charging infrastructure is a key driver for the growth of electric vehicles. The availability of convenient and widespread charging stations encourages consumers to adopt electric vehicles, driving the demand for efficient and reliable EV battery housing. A well-developed charging infrastructure alleviates range anxiety, a common concern among potential electric vehicle buyers. Additionally, in battery housing, lightweight materials, such as aluminum and high-strength alloys, contribute to overall vehicle efficiency. Weight reduction is critical for electric vehicles to enhance range and energy efficiency, driving the adoption of advanced lightweight materials in EV battery housing. Lightweight materials often possess favorable characteristics in terms of energy density. Lightweight materials are often integrated into the overall chassis design of electric vehicles. This integration enhances the vehicle's structural strength, rigidity, and stability. The seamless integration of lightweight materials with the vehicle chassis positively influences the handling and performance of the electric vehicle. Thus, advancements in lightweight materials have been a pivotal factor in driving the growth of the market.
However, Stringent regulatory compliance may result in a more cautious approach to innovation and development. Manufacturers may prioritize meeting existing standards over pursuing groundbreaking advancements, potentially slowing down the pace of innovation in EV battery housing technologies. Meeting stringent regulatory standards often involves additional testing, certification, and compliance processes, contributing to increased costs. The time-consuming nature of certification processes and the need for extensive testing can delay the introduction of new models and technologies to the market. Strict regulatory requirements can create barriers to entry for smaller manufacturers or new entrants to the electric vehicle. Smaller businesses struggle to compete with established companies due to the financial and technical resources essential to navigate complicated compliance processes. Hence, regulatory compliance and standards can hamper’s the growth of market.
North America has seen tremendous investment in charging networks, making it easier for EV owners to charge their vehicles and lowering range anxiety. Therefore, the North America region captured $1,847.3 million revenue in the market in 2022. Consumers in North America are increasingly recognizing the environmental benefits of EVs, including reduced greenhouse gas emissions and decreased dependence on fossil fuels. Urban areas in North America are increasingly adopting clean air initiatives and sustainable urban planning.
The expansion of charging infrastructure is a key driver for the growth of electric vehicles. The availability of convenient and widespread charging stations encourages consumers to adopt electric vehicles, driving the demand for efficient and reliable EV battery housing. A well-developed charging infrastructure alleviates range anxiety, a common concern among potential electric vehicle buyers. Additionally, in battery housing, lightweight materials, such as aluminum and high-strength alloys, contribute to overall vehicle efficiency. Weight reduction is critical for electric vehicles to enhance range and energy efficiency, driving the adoption of advanced lightweight materials in EV battery housing. Lightweight materials often possess favorable characteristics in terms of energy density. Lightweight materials are often integrated into the overall chassis design of electric vehicles. This integration enhances the vehicle's structural strength, rigidity, and stability. The seamless integration of lightweight materials with the vehicle chassis positively influences the handling and performance of the electric vehicle. Thus, advancements in lightweight materials have been a pivotal factor in driving the growth of the market.
However, Stringent regulatory compliance may result in a more cautious approach to innovation and development. Manufacturers may prioritize meeting existing standards over pursuing groundbreaking advancements, potentially slowing down the pace of innovation in EV battery housing technologies. Meeting stringent regulatory standards often involves additional testing, certification, and compliance processes, contributing to increased costs. The time-consuming nature of certification processes and the need for extensive testing can delay the introduction of new models and technologies to the market. Strict regulatory requirements can create barriers to entry for smaller manufacturers or new entrants to the electric vehicle. Smaller businesses struggle to compete with established companies due to the financial and technical resources essential to navigate complicated compliance processes. Hence, regulatory compliance and standards can hamper’s the growth of market.
By Material Analysis
Based on material, the market is classified into steel, aluminum, and others (carbon fibre & carbon glass). In 2022, the aluminum segment witnessed the largest revenue share in the market. Aluminum is known for its low density and high strength-to-weight ratio. Aluminum has excellent thermal conductivity, allowing for efficient heat dissipation. In EVs, efficient thermal management is crucial for maintaining optimal battery performance. Aluminum components in battery housing facilitate the dissipation of heat generated during charging and discharging, contributing to battery longevity.By Vehicle Type Analysis
By vehicle type, the market is categorized into passenger car and commercial car. The commercial car segment covered a considerable revenue share in the market in 2022. Commercial fleets, such as delivery vans and trucks, often involve large-scale purchases. Adopting electric commercial vehicles leads to significant orders for EV battery housing components. Adopting electric commercial vehicles enhances businesses' public image and commitment to corporate social responsibility. Many consumers and clients value businesses that prioritize sustainability and environmentally friendly practices, creating a positive association with companies using electric vehicles and advanced battery housing.By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The rapid urbanization in many Asian cities has increased concerns about air quality and pollution. The Asia Pacific region is a hub for technological innovation and manufacturing expertise. As a result of their leading position in developing advanced battery technologies and manufacturing capabilities, China, Japan, and South Korea have significantly contributed to the growth of electric vehicle (EV) battery housing.Recent Strategies Deployed in the Market
- Aug-2021: Lanxess AG and INFAC, a Korean auto parts specialist, jointly created a battery module housing for EVs, integrated into a Korean OEM's series production, using LANXESS's Durethan BKV30FN04 to meet stringent mechanical and chemical property requirements.
- Apr-2021: Teijin Limited has developed a multi-material composite battery box for electric and hybrid vehicles, utilizing their expertise in combining composite (FRP) and metal materials to meet environmental and safety standards. The box incorporates carbon or glass fiber in the FRP for tailored characteristics.
- Mar-2021: Lanxess AG and Kautex Textron GmbH & Co. KG, a Textron Inc. company, collaborated on a near-series technology demonstrator during the feasibility study. The system, with dimensions of approximately 1,400 millimeters in length and width, represents a large-format all-plastic housing component with a weight in the mid-double-digit kilogram range. Derived from the battery housing of a C-segment EV, the demonstrator comprises a housing tray with a crash structure, a housing cover, and an underrun (underbody) protection.
- Feb-2021: Magna International, Inc.expanded its geograpical presence by broking the ground on a 345,000-square-foot facility in St. Clair, Michigan, for manufacturing battery enclosures for the 2022 GMC Hummer EV, involving a $70 million investment and creating over 300 jobs in the past five years.
- Feb-2021: Evonik Industries AG and consortium partners developed a lighter, cost-effective high-voltage battery housing concept for e-mobility, utilizing glass fiber-reinforced epoxy SMC as a safer and energy-efficient alternative to metals and higher-priced carbon fiber-reinforced plastics.
- Feb-2021: Teijin Limited introduced a patent-pending clip system, produced at CSP Stamping in Michigan, eliminating bolts in joining electric vehicle battery case sections. This system improved sealing, reduced assembly costs, and simplified battery servicing. The steel clips affixed to the multi-material battery enclosure without secondary machined holes or welds.
List of Key Companies Profiled
- Magna International, Inc.
- Proterial, Ltd.
- Saudi Basic Industries Corporation (SABIC)
- Lanxess AG
- Evonik Industries AG
- Covestro AG
- Teijin Limited
- thyssenkrupp AG
- SGL Carbon SE
- Constellium SE
Market Report Segmentation
By Vehicle Type
- Passenger Car
- Commercial Car
By Material
- Aluminium
- Steel
- Others (Carbon Fibre & Carbon Glass)
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Netherlands
- Norway
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Electric Vehicle (EV) Battery Housing Market by Vehicle Type
Chapter 5. Global Electric Vehicle (EV) Battery Housing Market by Material
Chapter 6. Global Electric Vehicle (EV) Battery Housing Market by Region
Chapter 7. Company Profiles
Companies Mentioned
- Magna International, Inc.
- Proterial, Ltd.
- Saudi Basic Industries Corporation (SABIC)
- Lanxess AG
- Evonik Industries AG
- Covestro AG
- Teijin Limited
- thyssenkrupp AG
- SGL Carbon SE
- Constellium SE
Methodology
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