Composite EV Battery Enclosures Market is Forecasted to Reach US$ 5.0 billion in 2030, Says Stratview Research

The global composite EV battery enclosures market is projected to witness a growth rate of 23.5% annually from 2023 to 2030, with an anticipated size of US$ 5.0 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global composite EV battery enclosures market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2030: US$ 5.0 billion
Growth (CAGR): 23.5% during 2023-2030
Forecast Period: 2023-2030
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Composite EV Battery Enclosures Market:
The global composite EV battery enclosures market is segmented based on propulsion type, vehicle type, composite type, process type, and region.

Based on propulsion type - The composite EV battery enclosures market is segmented into BEV and HEV. BEV is anticipated to continue to dominate the market during the forecast period, owing to factors such as they are more environmentally safe than HEV cars, rapid development in charging infrastructure, a significant reduction in the price of new models, and government subsidies towards the adoption of EVs. Furthermore, there has been an incessant rise in the adoption of composite battery enclosures in the BEVs.

Based on the vehicle type - The composite EV battery enclosures market is segmented into passenger cars, light commercial vehicles (LCVs), and medium & heavy-duty commercial vehicles (MHCVs). Passenger car is expected to remain the largest vehicle type in the market.
The major factors driving the growth of the passenger car segment are rising awareness among consumers regarding EVs, government incentives towards the adoption of EV passenger cars, and rapid development in charging infrastructure.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/3214/composite-EV-battery-enclosures-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that China is expected to remain the largest market for composite EV battery enclosures during the forecast period. This growth outlook is majorly attributed to the following-
- China has a large number of major OEMs, such as BYD and SAIC motors, which makes the region a growth engine of the EV industry.
- This, in turn, is boosting the growth of the composite enclosures market.
- Most of the composite EV battery enclosure manufacturers have their plants in this region, such as STS Group, Teijin Automotive Technologies, and EMP Tech Co. Ltd., to address the emergent needs of these OEMs and to be the partners for their upcoming EV models.
- North America and Europe will also likely create sizeable opportunities in the coming years, driven by stringent fuel emission standards, rising energy/fuel costs, significant development in upcoming EVs, etc.
- Both regions are targeting to completely shift from ICE to alternative fuel vehicles in the coming decade. For instance, EU lawmakers approved an effective 2035 ban on new fossil fuel cars.

Composite EV Battery Enclosures Market Drivers:

Some of the key drivers listed in the report are given below.
- Increasing penetration of composite enclosures in upcoming EV models owing to their wide array of performance benefits.
- Some of the key EV models using composite enclosures are the E-Lavida, Chevy Bolt, Corolla PHV, Levin PHV, and BMW i3.

Top Companies in the Composite EV Battery Enclosures Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Continental Structural Plastics (Teijin Automotive Technologies)
• CpK Interior Products Inc (Stellantis subsidiary).
• EMP Tech Co., Ltd.
• Gestamp
• Hanwha Group
• Katcon SA de CV
• SGL Carbon
• STS Group AG

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Composite EV Battery Enclosures Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.