EV Battery Housing Market Dominated by Prismatic Cells

author: FutureCar Staff    

The global electric vehicle battery housing market is projected to reach $13.54 billion by 2032, growing at a CAGR of 13.14% during the forecast period 2023-2032. This surge in the market is driven by the increasing demand for electric vehicles, expanding charging infrastructure, the need for lightweight materials, and enhanced driving range.

Electric vehicle battery housing is a crucial structural component that encloses and protects the battery pack in an electric vehicle. It plays a vital role in dissipating heat and preventing the spread of fire in case of a battery failure, ensuring vehicle occupant safety. Made from materials like aluminum, steel, and plastic, the battery housing is designed to be lightweight, strong, and corrosion-resistant while effectively managing thermal conditions.

The electric vehicle battery housing market is witnessing rapid growth due to the surging demand for electric vehicles. It serves as a vital component in ensuring battery safety and efficient operation, driving the growth of the automotive, electronics, and metal industries. The automotive industry is the primary consumer of electric vehicle battery housings, and with the increasing demand for electric vehicles, the market for battery housing is expected to grow significantly.

Advances in battery technology, such as lithium-ion batteries, are making electric vehicles more affordable and practical, thereby driving growth in the electronics industry. The metal industry is also benefiting from the growth of the electric vehicle battery housing market, as battery housings require materials like aluminum and steel.

The electric vehicle battery housing market can be segmented based on cell format, vehicle type, material type, battery chemistry type, component type, and region. Prismatic cells are expected to dominate the market due to their higher energy density, flexible design, better thermal management, and cost-effectiveness. The passenger vehicles segment is projected to grow significantly, driven by the increasing demand for electric passenger cars and favorable government incentives. The aluminum segment is expected to dominate the market due to its lightweight, strength, corrosion resistance, and cost-effectiveness. Lithium-ion batteries are projected to dominate the market as they are widely used in electric vehicles due to their high energy density, long lifespan, and relatively low cost. The bottom cover segment is expected to dominate the market as it provides structural support, protects the battery pack, and helps in heat dissipation. Asia-Pacific and Japan are expected to dominate the market due to the growing demand for electric vehicles, the presence of major battery manufacturers, availability of skilled labor, and favorable government policies.

Recent developments in the electric vehicle battery housing market include expansions and partnerships by major players to meet the increasing demand. For example, Magna extended its operations to accommodate new business from Ford Motor Company for the provision of battery enclosures. Renault Group and Minth Group signed a memorandum of understanding to establish a joint venture to manufacture battery casings for electric vehicles. Nemak, S.A.B. de C.V. was granted a contract worth $350 million annually to manufacture battery housings for electric vehicles.

The market demand drivers for the electric vehicle battery housing market include the increasing demand for electric vehicles, rising environmental concerns, government incentives, and advances in EV battery technology. Challenges faced by the market include high material costs, lack of standardization, demand volatility, and competition from other materials. Opportunities in the market include the rise of lightweight materials, development of integrated cooling systems, and growth of battery swapping systems to reduce recharge time.

The key companies in the electric vehicle battery housing market include SGL Carbon, Novelis Inc., Nemak, S.A.B. de C.V., Constellium SE, Gestamp Automocion, S.A., UACJ Corporation, GF Linamar LLC, Hanwha Solutions Advanced Materials, Minth Group, ThyssenKrupp AG, TRB Lightweight, Hitachi Metals, Ltd., Norsk Hydro ASA, Magna International Inc., Kautex Textron GmbH & Co. KG, Teijin Limited, LANXESS, Evonik Industries AG, Saudi Basic Industries Corporation (SABIC), and Covestro AG.

Overall, the electric vehicle battery housing market is experiencing significant growth and presents opportunities for various industries involved in the production and supply of battery housings.

FutureCar Staff