Global Battery Housing Market Value to grow to US$18.03 billion by 2028 | Key Players, Size, Demands, Trends

The global battery housing market in 2022 was valued at US$3.51 billion. The market value is anticipated to grow to US$18.03 billion by 2028. The fundamental powerhouse of an automobile, particularly an electric one, is its batteries. The batteries store chemical energy, which is then converted into electrical energy and used to power the vehicle. Battery housings are structures that encapsulate the battery. They shield the vehicle's powertrain from external disturbance, such as a collision. Some may serve as insulators or aid in the cooling system of the battery.

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The key players in the global battery housing market are:

Magna International Inc.
SGL Carbon SE
Novelis, Inc.
Constellium SE
Nemak, S.A.B. de C.V
Gestamp Automocion, S.A.
UACJ Corporation
GF Linamar LLC
Minth Group
Thyssenkrupp AG
Proterial, Ltd.
TRB Lightweight
Ling Yun Industrial Corp Ltd.
Hoshion

The global battery housing market refers to the market for the enclosures or containers that house batteries. These enclosures are typically designed to protect the battery from external damage and to provide insulation and support.

The global battery housing market is expected to grow at a steady pace in the coming years, driven by the increasing demand for batteries in various applications, including electric vehicles, consumer electronics, and renewable energy systems.

The electric vehicle segment is expected to be a significant driver of growth in the battery housing market, as the demand for electric vehicles continues to increase globally. The consumer electronics segment is also expected to contribute to the growth of the market, driven by the increasing demand for portable devices such as smartphones, tablets, and laptops.

The Asia-Pacific region is expected to dominate the global battery housing market, accounting for the largest share of the market in terms of both value and volume. China is expected to be the largest market in the region, driven by the increasing demand for electric vehicles and consumer electronics. North America and Europe are also expected to be significant markets for battery housing, driven by the growing adoption of electric vehicles and renewable energy systems.

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Overall, the global battery housing market is expected to continue growing in the coming years, driven by the increasing demand for batteries in various applications. However, the market could face challenges related to the sustainability of battery production and disposal, as well as increasing competition from alternative energy storage technologies.

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This release was published on openPR.