Automotive Battery Frames Market: Introduction
- Automotive battery frame holds and protects the batteries from gasoline, weather, and leaks
- Battery frames must be leak-free at all times in order to keep electronics and battery modules secure. Battery frames are extensively utilized in electric vehicles. Moreover, the environment-friendly nature of electric vehicles is driving the demand for automotive battery frames.
Key Drivers of Automotive Battery Frames Market
- Invention of electric vehicles is an outcome of rapidly rising fuel prices and increasing pollution due to extensive use of automobiles. Rise in environmental concerns is boosting the production of electric vehicles, which significantly offers numerous opportunities for manufacturers of automotive battery frames. These automotive battery frames offer a wide range of benefits such as energy absorption in case of a crash, integrated cooling, flexible design, and superior stiffness and strength.
- Demand for electric and hybrid vehicles is increasing owing to a surge in fuel prices and rise in awareness regarding the environment. These factors are propelling research activities coupled with a rise in the demand for electric vehicles are projected to boost the demand for battery and consequently, fuel the global automotive battery frames market during the forecast period.
- Rise in mergers and acquisitions between vehicle manufacturers across the globe is likely to boost the automotive battery frame market. Increase in demand for electric vehicles due to enactment of stringent emission norms is projected to enhance the demand for batteries and their components.
Challenges in Automotive Battery Frames Market
- Automotive battery frames are generally made of steel, aluminum, and carbon fiber reinforced composites. The battery consists of various inflammable materials such as lithium, manganese, and plastics. Thus, concerns about the safety and performance in hot or waterlogged environments is a key factor that is estimated to hinder the automotive battery frame market.
- According to the National Fire Protection Association (NFPA) of the United States, a majority of EV fires in the country were caused due to failure of battery power systems during 2013 to 2017. The association also noted that high temperature swings, strong rain, and overcharging were major causes of EV battery fires. These factors are likely to hinder the global automotive battery frames market in the next few years.
Opportunities in Automotive Battery Frames Market
- Increase in demand for cost-effective batteries coupled with a rise in sales of electric vehicles is anticipated to fuel the automotive battery frames market. Players engaged in the market are adopting technological advancements to enhance the operational efficiency of battery components to cater to the demand for longer lifespan of batteries.
Automotive Battery Frames Market, by Region
- North America is expected to account for a major share of the global automotive battery frames market, due to the presence of a significant number of electric vehicles in the region. Moreover, Europe is expected to hold a moderate share of the global automotive battery frame market during the forecast period. Europe is considered to be an automotive hub due to the presence of several players with their headquarters across the region. Europe has key OEMs and tier-1 suppliers who have key facilities that undergo R&D activities on the battery system, which is anticipated to drive the automotive battery frame market across the region.
- Asia Pacific is estimated to be a highly lucrative market for automotive battery frame during the forecast period. Countries in Asia Pacific, such as China, Japan, and India, are shifting to electric vehicles in order to reduce pollution levels. This is also expected to boost the automotive battery frame market in Asia Pacific.
Key Players Operating in Automotive Battery Frames Market
- Amara Raja Batteries
- Exide Industries
- Tata Group
- CATL
- BYD
- LG Energy Solution
- CALB
- AESC
- Panasonic
Automotive Battery Frames Market, by Battery Size
- Side Post Battery
- Recessed Top Post Battery
- Standard Top Post Battery
Automotive Battery Frames Market, by Vehicle Type
- Passenger Vehicles
- Hatchback
- Sedan
- Utility Vehicle
- Light Commercial Vehicles
- Buses & Coaches
- Trucks
Automotive Battery Frames Market, by Propulsion Type
Automotive Battery Frames Market, by Region
- North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Sweden
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- Turkey
- South Africa
- Rest of Middle East & Africa
