Global Market for Electric Vehicle Battery Housing to be 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 growth is driven by the increasing demand for electric vehicles, expanding charging infrastructure, the need for lightweight materials, and improved driving range.

The electric vehicle battery housing is a crucial 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 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.

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. Passenger vehicles are projected to grow significantly, driven by the increasing demand for electric passenger cars and government incentives. Aluminum is expected to dominate the market in terms of material type, while lithium-ion batteries are projected to be the most widely used battery chemistry type.

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, and Renault Group and Minth Group signed a memorandum of understanding to establish a joint venture for battery casings. The market faces challenges such as high material costs and lack of standardization but also offers opportunities in lightweight materials, integrated cooling systems, and battery swapping systems.

The key market players 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 poised for significant growth in the coming years, driven by the increasing adoption of electric vehicles and the need for safe and efficient battery enclosures.

FutureCar Staff