Electric Vehicle Battery Housing Market Analysis

Vehicle Type (Electric Vehicle, Hybrid & Plug-In Hybrid EV)

Based on vehicle type, electric vehicle segment is anticipated to hold 60% share of the global electric vehicle (EV) battery housing market by 2037. Throughout the world governments is putting in place incentives like tax breaks and subsidies to entice people and companies to select electric cars, creating a thriving market. From 2017 to 2022, the number of electric vehicle sales increased from approximately 1 million to over 10 million in just 5 years. The previous five-year period from 2012 to 2017 demonstrated the exponential nature of EV sales growth, as EV sales increased from approximately 100,000 to one million. Furthermore, improvements in battery technology, which provide increased economy and performance, help explain why electric vehicles are becoming more and more popular in a variety of markets. Together, these initiatives seek to solve environmental issues, lower carbon emissions, and build a more sustainable transportation sector. Since the transportation sector contributes more than 15% of all energy-related emissions worldwide, electric vehicles are essential to the decarbonization of this industry.

Material (Aluminium, Steel, Magnesium, Glass Fiber-Reinforced Polymer, Carbon Fiber Reinforced Polymer)

Based on material, carbon fiber reinforced polymer segment is anticipated to hold 35% share of the global electric vehicle battery housing market by 2037. because of its attractive qualities. The exceptional strength and light weight that CFRP provides increases the overall efficiency and range of electric cars. The material's remarkable corrosion resistance and endurance add to battery systems' lifespan. Furthermore, CFRP's resistance to impact improves EV safety. The need for CFRP-based EV battery housing is only growing as the automotive industry places a greater emphasis on sustainability, efficiency, and performance. Sales of electric vehicles surpassed 10 million worldwide in 2022.

Our in-depth analysis of the global market includes the following segments: