DUBLIN--(BUSINESS WIRE)--The "Global EV Battery Enclosures Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity" report has been added to ResearchAndMarkets.com's offering.

The EV battery enclosure market was valued at US$ 4.0 billion in 2022, registering excellent growth, owing to significant growth in EV sales. EV battery enclosure market is anticipated to grow at an impressive CAGR of 18.3% from 2023 to 2030 to reach a value of US$ 18.1 billion.

Over the years, metals have dominated the market for EV battery cases owing to their advantages, such as being extremely robust and impact-resistant, having high melting points, high-temperature tolerance, being naturally flame-retardant, and easily affordable. However, in recent years, the penetration of composite battery cases has been growing at a rapid pace owing to factors such as lighter weight and higher mechanical performance in comparison to metals.

The market is highly populated, with the presence of several local, regional, and global players. These companies are constantly innovating to develop lighter, more efficient, and cost-effective battery enclosures. This drive for innovation further intensified the competition as manufacturers sought to gain a competitive edge through technological advancements. These companies have exceptional product development capabilities, and they concentrate on enhancing and expanding their EV battery enclosure production capabilities to keep up with the rising production of EVs across the globe.

The E-Lavida, Tesla Model Y, BYD Qin Plus, Levin PHV, Volkswagen ID.4, Nissan Leaf and BMW i3 are some of the best-selling EV models. Growth will be primarily fueled by an increase in EV production, which was triggered by rapid advancements in charging infrastructure and growing fuel prices. Other major factors driving the growth of EV sales are stringent emission regulations and government subsidies for EV adoption.

The following are the key players in the EV battery enclosures market:

  • Teijin Automotive Technologies
  • Minth Group Co., Ltd.
  • Hesheng Co., Ltd.
  • Huayu Automotive Systems Co., Ltd.
  • Chongqing New Aluminum Times Technology Co., Ltd.
  • Nemak, S.A.B. de C.V.
  • Lingyun Co., Ltd.
  • Xiangxin Technology Co., Ltd.
  • Gestamp
  • Wencan Group Co., Ltd.

Recent Product Developments: The primary focus areas of EV battery enclosure suppliers are weight reduction, corrosion resistance, and good performance in a demanding environment.

Some of the key developments have been mentioned below:

  • Multi-Material EV Battery Enclosures: Composite materials and metals are used to make battery enclosures (aluminum and steel). By forming them collectively, the best and most beneficial enclosures are produced. Compared to a steel battery enclosure, Teijin Automotive's multi-material battery enclosure is 15% lighter. By doing this, the production process becomes simpler and cheaper overall, and leakage risk is also removed.
  • Advanced Thermal Management Systems: Many companies are focusing on developing advanced thermal management systems for battery enclosures to improve temperature control and prolong battery life. These systems could include innovative cooling and heating solutions.
  • Integrated Battery Modules: Some companies are now introducing integrated battery modules with built-in enclosures, making it easier for automakers to integrate batteries into their EV designs. These modules could feature improved safety features.

Recent Market JVs and Acquisitions: Over the past few years, there have been a number of strategic alliances, including M&As, JVs, etc., across the globe.

Some of them have been mentioned below:

  • In 2022, Minth Group and Renault Group signed a Memorandum of Understanding (MOU) to establish a joint venture (JV) focused on manufacturing battery enclosures. This strategic partnership aims to enhance Renault Group's competitiveness and efficiency in the electric vehicle (EV) market while also expediting its overall industrial transformation.

Segment Analysis

Propulsion Type:

  • The market is segmented into BEV (Battery Electric Vehicles) and HEV (Hybrid Electric Vehicles).
  • BEVs are expected to dominate the market due to their ecological safety and various factors such as charging infrastructure development, cost reduction, and government incentives.
  • BEV production is projected to account for 47% of the global powertrain mix by 2030.

Vehicle Type:

  • Segments include passenger cars, light commercial vehicles (LCVs), and medium & heavy commercial vehicles (MHCVs).
  • Passenger cars are expected to remain the largest segment due to high demand for electric passenger vehicles.

Material Type:

  • Market segments include metal enclosures and composite enclosures.
  • Metal enclosures are preferred due to their lower cost compared to composite enclosures, and many major companies provide metal battery enclosures.
  • Several key BEV models use metal battery enclosures, including Porsche Taycan, BYD Qin Plus, BYD Song Pro, BYD Han, and Volkswagen ID.4.

Regional Insights:

  • China is expected to be the largest market for EV battery enclosures.
  • China is the world's largest producer and consumer of EVs and is home to several major EV battery enclosure producers.
  • Prominent EV models in China include BYD Han, BYD Song Pro, and Wuling Hong Guang Mini EV.

Segmentation

EV Battery Enclosures Market, by Propulsion Type

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)

EV Battery Enclosures Market, by Vehicle Type

  • Passenger Car
  • LCV
  • MHCV

EV Battery Enclosures Market, by Material Type

  • Metal Enclosures
  • Metal Type (Steel Enclosures and Aluminum Enclosures)
  • Composite Enclosures
  • Composite Type (Carbon Fiber Composites and Glass Fiber Composites)
  • Process Type (Compression Molding and Others)

EV Battery Enclosures Market, by Region

  • North America
  • Europe
  • China
  • Rest of Asia-Pacific
  • Rest of the World

For more information about this report visit https://www.researchandmarkets.com/r/nmvk3m

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