The automotive industry is witnessing a massive transformation in terms of technological development as the sales of electric vehicle have increased significantly due to various factors such as rising environmental concerns, availability of technology, and growing demand.
The battery housing in an EV is responsible for providing crash-safe battery protection from electric shock and fire hazards. The development of advanced material and material composition for battery housing has significantly improved the design and structure of battery packs in EVs. The demand for light materials in order to increase the vehicle range is changing the material composition for battery housing.
The EV battery housing market generated revenue of $760.0 million in 2020. Growing penetration of EVs across the globe, increasing EV range and battery capacity coupled with demand for robust vehicle design is benefitting the market growth.
Applications of Electric Vehicle Battery Housing
Plug-in hybrid electric car: Plug-in hybrid electric cars are powered by a battery as well as an internal combustion engine (ICE). The battery can be charged through either regenerative breaking, using the ICE, or by plugging into some external charging source. The gasoline engine takes over once the battery runs out of charge. These cars produce significantly less pollution than conventional hybrids as they are mainly run-on electricity.
Battery electric car: A fully electric vehicle relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. Fully electric vehicles do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher price than their equivalent gasoline models.
E-Bus: Electric buses are the buses that use electricity as their primary or secondary source of power. The electricity in electric buses can be stored onboard or can be provided through an external source. Electric buses mainly include school buses, transit buses, and others. Under the scope of the study, hybrid, plug-in hybrid, and fully electric buses are considered.
E-Truck: The use electric energy for their propulsion. Electric energy is stored in the batteries inside the truck. Electric trucks are highly preferred substitutes to fuel-based commercial trucks as they are more cost-effective and less polluting. Electric trucks are used in municipal bodies, goods transportation, mining and industrial purposes, and others. This report includes hybrid, plug-in hybrid, and fully electric trucks as part of the market size calculation.