Market Overview:
The Global Electric Vehicle Battery Trays Market size is expected to grow from USD 540.71 billion in 2022 to USD 1069.51 billion by 2030, at a CAGR of 8.9 % during the forecast period (2023-2030).
The battery of a conventional vehicle or an Electric Vehicle Battery Trays is an important part of this work. With the spread of electric vehicles, the demand for lightweight solutions that can keep the batteries in the same place has increased. In most vehicles, the battery is attached to the frame with a simple metal strap. This method limits the vertical movement of the battery and prevents it from bouncing up and down. This approach is effective for everyday driving, but ineffective for off-road driving. So, in all these scenarios, using a battery has become essential. A battery holder is a device used to secure large batteries. The tray prevents the battery from rolling out of place and damaging nearby objects or even the battery itself. Many have mounting bolts to hold the magazine in place, as well as adjustable straps to hold the battery.
Top Key Players Covered In The Electric Vehicle Battery Trays Market:
- Dura Automotive Systems (Us)
- Atlas Copco AB (Sweden)
- Foshan Shijun Hongmao Aluminum Technology Co. Ltd. (China)
- BENTELER (Austria)
- Gestamp (Spain)
- Standard Technologies (US)
- Constellium (Paris, France)
- PRATIC CNC Technology Co. Ltd (China)
- Aluminum Extruders Council (US)
- ZEISS (Germany)
- Waldaschaff Automotive GmbH (Germany)
- FSM Group (Finland) And Other Major Players.
Market Dynamics and Factors:
The increasing adoption of electric vehicles (EVs) worldwide is a major driver for the electric vehicle battery trays market. As governments and consumers shift towards cleaner and more sustainable transportation solutions, the demand for EVs is rapidly rising. Battery trays are essential components that hold and protect electric vehicle batteries, and as EV sales continue to grow, the demand for battery trays increases accordingly.
The demand for lightweight vehicles is on the rise, driven by factors such as fuel efficiency, range extension, and improved overall vehicle performance. Lightweight vehicles consume less power, allowing for extended driving range and improved energy efficiency. Battery trays made from lightweight materials, such as aluminum or composites, contribute to the overall weight reduction of the vehicle. As a result, there is an opportunity for electric vehicle battery tray manufacturers to cater to the high demand for lightweight vehicles and provide innovative, lightweight solutions that help decrease power consumption.
The Electric Vehicle Battery Trays Market Report Highlight:
- By Material Type, Steel Based segment is anticipated to lead the growth of the Electric Vehicle Battery Trays Market in the forecasted timeframe. Steel is known for its strength and durability, making it a preferred choice for battery tray construction. Electric vehicle battery trays need to withstand the weight and vibrations of the battery pack, ensuring its safety and stability.
- By Application, the 2 & 3-Wheeler segment is expected to have the highest share of the Electric Vehicle Battery Trays Market over the projected period. These vehicles are gaining popularity in urban areas due to their efficiency, convenience, and eco-friendliness. The increasing adoption of electric 2 & 3-wheelers creates a substantial market for electric vehicle battery trays.
- The Asia Pacific region is expected to have the highest share of the Electric Vehicle Battery Trays Market over the projected period. The Asia Pacific region is witnessing significant growth in the electric vehicle market. Countries like China, Japan, and South Korea are leading the adoption of electric vehicles and have implemented supportive policies, incentives, and infrastructure development to promote electric mobility.
Key Industry Development:
- In March 2023, Atlas Copco Power and Flow launched a new generation electric submersible pump, the WEDA D95, which utilizes state-of-the-art wear protection technology. The durable and reliable pump guarantees best-in-class performance for longer than other similar pumps in highly abrasive environments such as mines, tunneling, and construction. With the help of the pump, users can improve the sustainability and productivity of the operation.
- In April 2023, LG Energy electric vehicle (EV) industry, LG Energy Solution has entered into a strategic partnership with General Motors (GM) to pioneer innovative battery tray designs. This collaboration marks a joint effort to enhance battery pack performance and layout for GM's forthcoming EV models.
Electric Vehicle Battery Trays Market Segmentation:
By Material Type
- Steel Based
- Glass Fiber Based
- Aluminum Based
By Application
- 2 & 3-Wheeler
- Passenger Cars
- Commercial Vehicles
For this report, Introspective Market Research has segmented the Electric Vehicle Battery Trays Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
