1. What is the projected Compound Annual Growth Rate (CAGR) of the Electric Vehicle (EV) Battery Housing Market?
The projected CAGR is approximately 13.4%.
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Electric Vehicle (EV) Battery Housing MarketElectric Vehicle (EV) Battery Housing Market by Vehicle Type (Passenger Car, Commercial Vehicle), by Material (Steel, Aluminum, Others (Carbon Fiber & Carbon Glass), by North America (U.S., Canada, Mexico) Forecast 2026-2034
The Electric Vehicle (EV) Battery Housing Market size was valued at USD 9.31 USD Billion in 2023 and is projected to reach USD 22.45 USD Billion by 2032, exhibiting a CAGR of 13.4 % during the forecast period. An electric vehicle (EV) battery box is a specially designed box for batteries, including lithium-ion batteries for electric vehicles. The market is driven by increasing demand for electric vehicle battery enclosures that protect the battery cell from damage and environmental factors such as moisture, dust, and debris. Weight reduction is critical to improving the range and energy efficiency of electric vehicles, which encourages the use of advanced lightweight materials in the battery of an electric car. Lightweight materials often have favorable energy density properties. Lightweight materials are often incorporated into the overall design of electric vehicles. This integration improves the strength, rigidity, and stability of the vehicle structure. The seamless integration of lightweight materials into the vehicle chassis has a positive effect on the handling and performance of the electric vehicle. Therefore, the development of lightweight materials was a key factor in the growth of the market.
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Vehicle Type:
Material:
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Strengths
Weaknesses
Opportunities
Threats
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 13.4% from 2020-2034 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 13.4%.
Key companies in the market include SGL Carbon (Germany), Nemak, S.A.B. de C.V. (Mexico), Novelis Inc. (U.S.), Gestamp Automocion, S.A. (Spain), Constellium SE (France), Hanwha Solutions Advanced Materials (South Korea), UACJ Corporation (Japan), GF Linamar LLC (U.S.), ThyssenKrupp AG (Germany), Minth Group (China), Magna International Inc. (Canada), TRB Lightweight (U.K.), Hitachi Metals, Ltd. (Japan), Norsk Hydro ASA (Norway), Kautex Textron GmbH & Co. KG (Germany), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), Teijin Limited (Japan), LANXESS (Germany), Evonik Industries AG (Germany), Covestro AG (Germany).
The market segments include Vehicle Type, Material.
The market size is estimated to be USD 9.31 USD Billion as of 2022.
Increasing Demand for Forged Products in Power. Agriculture. Aerospace. and Defense to Drive Industry Expansion.
Rising Adoption of Automation in Manufacturing to Drive Market Growth.
High Material Cost and Safety Regulations May Hamper Market Growth.
July 2023 - Magna announced that the company would invest USD 790 million to build the first two supplier facilities at Ford’s BlueOval City supplier park in Stanton, Tennessee, and a stamping and assembly facility in Lawrenceburg, Tennessee. Magna will supply Ford’s BlueOval City with battery enclosures, truck frames, and seats for the automaker’s second-generation electric truck. Magna’s two BlueOval City supplier park facilities contain a new 800,000-square-foot frame and battery enclosures and a 140,000-square-foot seating facility.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in K units.
Yes, the market keyword associated with the report is "Electric Vehicle (EV) Battery Housing Market," which aids in identifying and referencing the specific market segment covered.
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