EV Battery Housing Market Dominated by Prismatic Cells

author: FutureCar Staff    

The global electric vehicle battery housing market is expected to experience significant growth, reaching $13.54 billion by 2032, with a compound annual growth rate (CAGR) of 13.14% during the forecast period of 2023-2032. This growth is attributed to the increasing demand for electric vehicles, the expansion of charging infrastructure, the need for lightweight materials, and the desire for 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 from the battery pack and preventing the spread of fire in the event of a battery failure, ensuring the safety of vehicle occupants. 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. Its critical role in safeguarding battery packs and enhancing battery performance makes it an essential part of electric vehicle safety.

The electric vehicle battery housing market is witnessing rapid growth due to the increasing 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. In terms of vehicle type, passenger vehicles are 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 in terms of material type, thanks to its lightweight, strength, corrosion resistance, and cost-effectiveness. Lithium-ion batteries are projected to be the dominant battery chemistry type due to their high energy density, long lifespan, and relatively low cost. The bottom cover segment is expected to dominate the market in terms of component type, as it provides structural support, protects the battery pack, and aids in heat dissipation. In terms of region, Asia-Pacific and Japan are expected to dominate the market, fueled by 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, Renault Group and Minth Group signed a memorandum of understanding to establish a joint venture, and Nemak, S.A.B. de C.V. was granted a contract worth $350 million annually to manufacture battery housings for electric vehicles.

The electric vehicle battery housing market is driven by the increasing demand for electric vehicles, rising environmental concerns, government incentives, and advances in EV battery technology. However, challenges such as high material costs, lack of standardization, demand volatility, and competition from other materials exist. Opportunities in the market include the rise of lightweight materials, development of integrated cooling systems, and the 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, this comprehensive report provides valuable insights and analysis for electric vehicle OEMs and other stakeholders in the industry to strategize and strengthen their market position.

FutureCar Staff