EV MULTI-MATERIAL COMPOSITE BATTERY ENCLOSURE MARKET

INTRODUCTION

The main function of composite battery enclosures for EVs, often known as frames, boxes, or housings, is to store and safeguard battery cells. They come in a variety of sizes and forms. A battery cover with a composite design is up to 40% lighter while exhibiting comparable mechanical qualities.

The main function of composite battery enclosures for EVs, often known as frames, boxes, or housings, is to store and safeguard battery cells. They come in a variety of sizes and forms. A composite construction battery container exhibits similar mechanical qualities while being up to 40% lighter.

Multiple advantages are offered by composite battery casing. They reduce weight, free up design space, improve safety and fire safety, better control thermal energy, prevent corrosion, and offer high electromagnetic compatibility (EMC). Additional advantages include automated production, series production that meets the quality and quantity requirements for vehicle manufacture, and weight reduction.

Traditional possibilities for battery enclosure materials include steel and aluminum. Composites, though, are probably going to be a better option. The performance of EVs is expected to increase dramatically as a result.Based on type and end-use, the worldwide composite battery enclosure market may be divided.

EV MULTI-MATERIAL COMPOSITE BATTERY ENCLOSURE MARKET SIZE AND FORECAST

TheGlobal EV Multi-Material Composite Battery Enclosure marketaccounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

EV MULTI-MATERIAL COMPOSITE BATTERY ENCLOSURE MARKETNEW PRODUCT LAUNCH

Teijin Automotive Technologies (formerly Continental Structural Plastics) declared today that the Society of Plastics Engineers (SPE) ACCE People's Choice Award has been given to its creator, an EV Multi-Material Composite Battery Enclosure. All attendees at the annual automotive composites exposition vote for the winner of this prize from among the SPE ACCE Innovation Awards submissions.

The full-sized, multi-material battery enclosure has a one-piece composite tray and lid with reinforcements made of steel and aluminum. Teijin Automotive has developed a solution that is simpler to seal and that can be approved before shipment by molding the lid and the tray separately into one piece. The business has two patent applications in process for its unique box assembly and fastening systems.

The business also created a mounting structure that absorbs energy using structural foam. This enhances crash performance while allowing for a thinner, lighter structure. The tray and cover may be molded into intricate designs while requiring less complicated and expensive tooling because they are composed of composite materials.

The multi-material battery enclosure from Teijin Automotive is 15% lighter than a steel battery box. Despite weighing the same as an aluminum enclosure, the enclosure is more temperature resistant, especially if the phenolic resin is utilized. There are no through holes in the tray's one-piece design, therefore sealing or sealant is not necessary. This lowers the total cost and complexity of production while also eliminating the possibility of leaks.

ELECTIC VEHICLE INDUSTRY OUTLOOK

• The global EV industry grew by 35% to 14.1 million units in 2023 with China and Europe dominating the market.
• 70.4% of the market were BEVs and this trend is expected to continue till 2030 across the globe.
• Incentives by various governments at different levels and improvement in charging infrastructure are the primary driver for the increase in EV sales in 2023. However, the market may not be able to prolong this level of growth if the incentives are withdrawn as the current prices of the vehicles won’t support it.
• Tesla, one of the global leaders in EVs, has projected lower growth in 2024 compared to 2023 due to factory readjustments and production of CyberTruck. This will impact the EV market in 2 ways in 2024 – It'll allow OEMs in China and Europe to target customers that would have preferred a Tesla, and cause lower sales in USA as Tesla does not have a prominent competitor at the moment in the country.
• Other OEMs also saw an increase in EV sales such as Volkswagen, Stellantis, GM etc.

AUTOMOTIVE INDUSTRY OUTLOOK

• The automotive industry is expected to grow at 5% in 2024 compared to 2023.
• Solutions for automated driving are currently being transversed as ADAS solutions to enable multiple aspects including revenue generation, data collection and understanding driver behaviour.
• Electrification is the next trend that is capturing the global automotive market with 14.1 million plugged in vehicles sold in 2023.
• Asia Ex China and ROW will see an improvement in the market share of HEVs more than BEVs and PHEVs.
• Growth will come in from Asia ex China region and ROW region compared to USA, Europe and China.

EV MULTI-MATERIAL COMPOSITE BATTERY ENCLOSURE MARKETCOMPANY PROFILE

• Teijin Automotive Technologies
• TRB
• Hitachi Metals
• Magna International
• Novelis

EV MULTI-MATERIAL COMPOSITE BATTERY ENCLOSURE MARKETREPORT WILL ANSWER THE FOLLOWING QUESTIONS

1. How many EV Multi-Material Composite Battery Enclosures are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Global EV Multi-Material Composite Battery Enclosure and key vendor selection criteria
3. Where is the EV Multi-Material Composite Battery Enclosure manufactured? What is the average margin per unit?
4. Market share of Global EV Multi-Material Composite Battery Enclosure market manufacturers and their upcoming products
5. The cost advantage for OEMs who manufacture Global EV Multi-Material Composite Battery Enclosure in-house
6. key predictions for the next 5 years in the Global EV Multi-Material Composite Battery Enclosure market
7. Average B-2-B EV Multi-Material Composite Battery Enclosure market price in all segments
8. Latest trends in the EV Multi-Material Composite Battery Enclosure market, by every market segment
9. What is the market size (both volume and value) of the EV Multi-Material Composite Battery Enclosure market in 2024-2030 and every year in between?
10. Production breakup of EV Multi-Material Composite Battery Enclosure market, by suppliers and their OEM relationship