NEWARK, Del, Feb. 12, 2023 (GLOBE NEWSWIRE) — Over the forecast period, the global electric vehicle battery housing market is expected to grow at a rapid CAGR of 31.8%. The market is expected to reach US$ 1,531.1 Million in 2023. The market is anticipated to reach US$ 24,219.1 Million by 2033.
Consumer acceptance of electric car battery housing is increasing, resulting in market expansion. The unexpected increase in demand would stimulate an expansion of capabilities across the whole value chain. The government’s tough pollution laws coupled with individuals’ growing environmental concerns are expected to drive up demand for battery housing for electric vehicles.
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Owing to the growing market demand for electric cars, manufacturers are concentrating more on developing EV safety features. As the next step in the evolution of electric vehicles, they are also creating battery housing to strengthen EVs and boost range.
Concerns about climate change and the looming depletion of fossil fuels have pushed efforts to develop better electric vehicle designs. Battery casings for electric cars perform worse than conventional battery enclosures. Additionally, it is eco-friendlier.
Nonmetallic components provide strong mechanical properties, such as high rigidity and strength while being lightweight. When compared to metallic materials such as aluminum or steel, an electric car battery housing made of non-metallic components can save up to 40% weight.
There are distinct benefits to adopting an electric vehicle battery housing. To craft the mobility of the future even more capable, electric vehicle makers are rapidly adopting battery housings, which is growing sales of the electric vehicle battery housing.
Europe is leading the global electric vehicle battery housing market as a result of growing government support for the EV market, despite the fact that electric vehicles are…
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