Electric Vehicle (EV) Battery Housing Market Size -, By Cell Format Type (Cylindrical Cells, Pouch Cells, Prismatic Cells), By Material (Aluminum, Steel, Magnesium, Glass Fiber-Reinforced Polymer, Carbon Fiber Reinforced Polymer), Vehicle Type & Forecast, 2024 - 2032

Electric Vehicle Battery Housing Market Size

Electric Vehicle Battery Housing Market was valued at USD 12.4 billion in 2023 and is estimated to register at a CAGR of 8% from 2024 to 2032, attributed to the burgeoning demand for electric vehicles. The growing awareness of environmental issues and the need to reduce carbon emissions has propelled the demand for electric vehicles.
 

Government incentives and regulations will play a pivotal role in shaping the EV battery housing market outlook. Many governments around the world are implementing policies and incentives to promote the adoption of electric vehicles. These measures include subsidies, tax incentives, and regulatory frameworks aimed at reducing dependence on traditional internal combustion engine vehicles. As more automotive manufacturers invest in electric vehicle technology, the demand for EV batteries and their components, including battery housing, will rise significantly over the coming years.
 

In some regions, there are specific regulations regarding the safety and design standards for electric vehicle batteries, including their housing. This has driven manufacturers to invest in developing compliant and safe battery housing solutions, which, in turn, will favor the expansion of the EV battery housing market. Despite these, electric vehicle batteries have a finite lifespan, and recycling is essential for environmental sustainability. There may be challenges related to the limited infrastructure for recycling electric vehicle batteries and their components, including battery housings. The lack of well-established recycling facilities and processes for electric vehicle batteries may pose environmental concerns and limit the industry's ability to manage end-of-life components effectively.

Electric Vehicle Battery Housing Market Trends

The EV battery housing industry is likely to witness a trend toward the use of advanced materials and innovative designs for battery housing. This includes lightweight yet durable materials that enhance the overall efficiency, safety, and performance of electric vehicle batteries.
 

For an instance, in September 2023, Envalior, a recently established company headquartered in Düsseldorf, Germany, is the result of a collaboration between DSM Engineering Materials (DEM) and Lanxess' High-Performance Materials (HPM) unit. The company is introducing a novel composite material, part of the Tepex brand, which successfully meets the standard thermal runaway tests for electric vehicle (EV) battery housings even at low test specimen thicknesses. This exceptional resistance to the intense conditions of a battery cell fire is attributed to the material's incorporation of long and continuous non-flammable fibers within a multilayer structure.
 

Electric Vehicle Battery Housing Market Analysis

The electric vehicles segment will generate a high market share in 2023. Governments worldwide are implementing incentives such as subsidies and tax credits to encourage consumers and businesses to choose electric vehicles, fostering a robust market. In addition, advancements in battery technology, offering enhanced performance and efficiency, contribute to the increasing acceptance of electric vehicles across diverse segments. These combined efforts aim to address environmental concerns, reduce carbon emissions, and create a sustainable future for the transportation industry.
 

The carbon fiber reinforced polymer segment accounted for a market share of around 35% in 2023 and is projected to grow by 2032, due to its compelling attributes. CFRP offers a remarkable combination of strength and lightness, improving the overall efficiency and range of electric vehicles. The material's exceptional durability and resistance to corrosion contribute to the longevity of battery systems. Moreover, CFRP's ability to withstand impact enhances the safety of EVs. As the automotive industry increasingly emphasizes performance, efficiency, and sustainability, the demand for CFRP-based EV battery housing continues to rise.
 

North America dominated major share of the electric vehicle battery housing market in 2023, on account of the increasing environmental awareness and stringent emission regulations in the region. The commitment of governments and businesses to sustainable mobility solutions, coupled with substantial investments in research and development, has fueled advancements in EV battery technology. North American manufacturers are at the forefront of innovation, producing lightweight, durable, and high-performance battery housings. With a robust infrastructure for EV adoption and a rising consumer preference for clean energy alternatives, the EV battery housing industry is experiencing significant growth in North America.
 

Electric Vehicle Battery Housing Market Share

POSCO holds the largest market share, due to its advanced, high-strength, lightweight steel products. These materials are crucial for enhancing the efficiency and safety of electric vehicles. Their innovative approach, combined with a strong global supply chain and partnerships with major EV manufacturers, positions POSCO as a leader in this niche market.
 

Electric Vehicle Battery Housing Market Companies

The major enterprises dominating the competitive landscape of the electric vehicle (EV) battery housing industry include:

• Constellium SE
• Gestamp Automocion
• Hitachi Metals Ltd.
• Norsk Hydro ASA
• POSCO
• ThyssenKrupp AG
• UACJ Corporation
   

Electric Vehicle Battery Housing Industry News

• In February 2021, Evonik Industries, based in Essen, Germany, took the lead in a consortium of partners to unveil an innovative high-voltage battery housing concept for e-mobility solutions. This groundbreaking design utilizes glass fiber-reinforced epoxy sheet molding compound (SMC), resulting in a lighter and more cost-effective solution. The comprehensive battery system concept aims to provide the automotive industry with a safer and more energy-efficient option, presenting an alternative to traditional metals and higher-cost carbon fiber-reinforced plastics (CFRP).
   
• In October 2022, Gestamp showcased an impressive range of products and innovations at the IZB 2022 in Wolfsburg, Germany. Among the featured items were oversized components, advanced joining technologies, cell-to-pack concepts, chassis systems, battery enclosures, innovative lightweight solutions, as well as Active Frunks and power doors. The company's R&D teams highlighted key innovations and technologies across Gestamp's three business segments: Body, Chassis, and Mechanics (Edscha).
   

This market research report on electric vehicle battery housing includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2018 to 2032 for the following segments:

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Market, By Vehicle Type

• Electric Vehicles
  • Two Wheelers & Three Wheelers
  • Passenger Cars
  • Commercial Vehicles 
• Hybrid & Plug-in Hybrid EV
  • Passenger Cars
  • Commercial Vehicles

Market, By Cell Format Type

• Cylindrical Cells
• Pouch Cells
• Prismatic Cells

Market, By Material

• Aluminum
• Steel
• Magnesium
• Glass Fiber-Reinforced Polymer
• Carbon Fiber Reinforced Polymer

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia