According to a new report, published by KBV research, The Global Electric Vehicle (EV) Battery Housing Market size is expected to reach $24.3 billion by 2030, rising at a market growth of 13.2% CAGR during the forecast period.
The Passenger Car segment is leading the Global Electric Vehicle (EV) Battery Housing Market by Vehicle Type in 2022; thereby, achieving a market value of $16.8 Billion by 2030. The passenger car segment represents a significant portion of the overall automotive industry. As more consumers choose electric passenger cars, the demand for advanced EV battery housing solutions increases, driving growth in the market segment. Passenger cars are designed for various use cases, including daily commuting and long-distance travel. As a result, innovations in EV battery housing for passenger cars often focus on optimizing driving range. This includes advancements in energy density, thermal management, and overall efficiency.
The Steel segment is experiencing a CAGR of 13.4% during (2023 - 2030). Steel is known for its strength and durability, making it an ideal material for ensuring the structural integrity and safety of EV battery housing. Using high-strength steel alloys provides robust protection for the battery pack, minimizing the risk of damage in the event of a collision and enhancing overall safety for the vehicle and its occupants. The steel segment contributes to the crashworthiness of electric vehicles by providing a strong and impact-resistant structure for the battery housing. Steel components absorb and dissipate energy during a collision, reducing the risk of damage to the battery pack and enhancing the overall safety performance of electric vehicles.
Full Report: https://www.kbvresearch.com/electric-vehicle-battery-housing-market/
The Asia Pacific market dominated the Global Electric Vehicle (EV) Battery Housing Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $11.8 Billion by 2030. The Europe market is anticipated to grow a CAGR of 12.5% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 12.9% during (2023 - 2030).
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