Pune India, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Electric vehicle battery case box market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Electric vehicle battery case box market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the vehicle type and product type. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Electric vehicle battery case box market are SGL Carbon, Novelis Inc.,Nemak, S.A.B., de C.V., Constellium SE, Gestamp Automocion, UACJ Corporation, GF Linamar LLC, Hanwha Advanced Materials, Minth, Continental Structural Plastics, Thyssenkrupp AG, TRB Lightweight, Hitachi Metals, Ltd., POSCO, Norsk Hydro ASA, and among others. To achieve a substantial market share in the worldwide Electric vehicle battery case box market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Making a sturdy battery box or enclosure is one of the many new issues that the expansion of electrification entails. Numerous characteristics of an effective battery housing contribute to the safety of passengers and the battery, help with thermal control, and shield the battery from the harsh conditions under the car and from accidents. The system must be manufactured within the vehicle's budgetary and weight restrictions. The top cover, bottom cover, internal structure, and side-impact crash protection structure are the battery box's four main structural components. The crash structure and the battery frame are shown as the main load-bearing structural elements in the image below. The efficiency of an electric vehicle is significantly influenced by its weight. According to the United States Environmental Protection Agency (EPA), a vehicle's fuel efficiency improves by one to two percent for every 100 pounds of weight removed. For the electric vehicle industry, which is battling to increase energy efficiency and reduce "range anxiety," this presents an opportunity.
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Scope of Electric vehicle battery case box Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | By Vehicle Type, By Product Type, region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | SGL Carbon, Novelis Inc.,Nemak, S.A.B., de C.V., Constellium SE, Gestamp Automocion, UACJ Corporation, GF Linamar LLC, Hanwha Advanced Materials, Minth, Continental Structural Plastics, Thyssenkrupp AG, TRB Lightweight, Hitachi Metals, Ltd., POSCO, Norsk Hydro ASA, and among others |
Segmentation Analysis
The PHEV segment is expected to be the fastest-growing segment in 2021.
The vehicle type segment includes PHEV, BEV, E-Bus, and E-Truck. The PHEVsegment is expected to witness the highest CAGR during the forecast period. The battery of an electric car accounts for the majority of its initial cost. PHEVs often have cheaper initial expenses than BEVs since they have smaller batteries. The lifetime costs will decrease the more you drive electric; therefore, if the PHEV is fully charged and you typically do short journeys, you will be able to drive without using gas. The average driver travels 25.9 miles per day, and 91% of all car trips are under 20 miles, according to the most recent National Household Travel Survey. Most PHEVs now on the market have an electric range of about this. Additionally, there are more PHEVs than BEVs available right now.
The non-metallic segment is expected to be the fastest-growing segment in 2021.
The product type segment includes metallic and non-metallic. The non-metallic segment is expected to witness the highest growth rate during the forecast period. The increasing adoption of non-metallic materials such as FRP, plastics, and other fuels on the market. Also, liquid batteries are covered with non-metallic battery boxes which boosts the demand for the segment.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Electric vehicle battery case box include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- Asia Pacific region witnessed a major share. Due to its ability to provide firms significant labour and raw material cost savings, the Asia-Pacific area is growing. In addition, countries like China and India, among others, are where the majority of cars are made. The EV market has also been expanding in Japan and South Korea. Their governments have helped the market flourish by putting in EV charging stations, creating emission standards, setting deadlines for switching from ICE vehicles to full or hybrid EVs, and other measures.
Country Analysis
- Germany
Germany's Electric Vehicle Battery Case Box market size was valued at USD 28.5 billion in 2021 and is expected to reach USD 49.7 billion by 2029, at a CAGR of 7.2% from 2022 to 2029.
Germany is making major investments to support the EV market's sales. Thus, a strong growth rate in the sale of electric vehicles is seen in Europe as a result of the large incentives and subsidies. Due to this, demand for parts and machinery used in EV charging has increased. A new vision for a national fast-charging network is anticipated to be developed as part of a partnership between the US energy and transportation departments, with potential longer-term innovations including up to 350 kW of direct current fast charging; this, in turn, drives the market for electric vehicle battery case boxes.
- China
China’s Electric Vehicle Battery Case Box market size was valued at USD 55.1 billion in 2021 and is expected to reach USD 112.2 billion by 2029, at a CAGR of 9.3% from 2022 to 2029. As a result of region's enormous untapped potential, the market for electric vehicle battery case boxs in China has grown significantly in recent years. The region's demand for electric vehicle battery case boxes is also anticipated to increase as a result of pro-industry government initiatives and rising electric vehicle production.
- India
India's Electric Vehicle Battery Case Box market size was valued at USD 39.6 billion in 2021 and is expected to reach USD 78.3 billion by 2029, at a CAGR of 8.9% from 2022 to 2029. India is attempting to increase its EV market demand. Since the nation has not yet achieved uniformity in rapid charging techniques, the Indian government has enforced the installation of CHAdeMO and CCS systems. However, this requirement raised the price of installing charging stations. As a result, the government modified the regulations in July 2019 and gave charging station developers the freedom to select their preferred approach.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of this market is mainly driven owing to the increasing number of automobiles around the world.
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