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Electric Vehicle (EV) Battery Housing Market Trends

Report ID: GMI7751
Published Date: Dec 2023
Report Format: PDF

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric vehicle battery housing was reached USD 12.4 billion in 2023 and is expected to register over 8% CAGR from 2024 to 2032, due to the rising awareness of environmental issues and the dire need to reduce carbon emissions worldwide.

The electric vehicles segment held major share of the electric vehicle battery housing industry in 2023, owing to governments worldwide implementing incentives to encourage consumers and businesses to choose electric vehicles.

North America EV battery housing market gained traction in 2023 and is expected to register commendable CAGR from through 2032, due to increasing environmental awareness and stringent emission regulations in the region.

Constellium SE, Gestamp Automocion, Hitachi Metals Ltd., Norsk Hydro ASA, ThyssenKrupp AG, and UACJ Corporation, are some of the major electric vehicle battery housing companies worldwide.