Structural Battery Market is Anticipated to Witness High Growth Owing to Increasing Adoption of Electric Vehicles

Structural Battery Market 

 The Structural battery market includes battery systems that are integrated directly into structural components and elements of electric vehicles such as car bodies, roofs and others. Structural batteries allow automobile manufacturers to distributed energy storage throughout a vehicle rather than packing it into a single large battery pack. They offer advantages such as increased interior space, reduced weight and better distribution of electromagnetic forces. The growing demand for electric vehicles coupled with the need for more efficient battery storage systems are fueling the adoption of structural batteries.

 The global structural battery market is estimated to be valued at US$ 1.84 Bn in 2024 and is expected to exhibit a CAGR of 20.% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the structural battery market are Tesla, Inc. (United States), BMW AG (Germany), Airbus SE (France), Volkswagen AG (Germany), Samsung SDI Co., Ltd. (South Korea), Saft Groupe S.A. (France), Northvolt AB (Sweden), LG Chem Ltd. (South Korea), Farasis Energy, Inc. (China), Solid Power, Inc. (United States), Cadenza Innovation, Inc. (United States), Blue Solutions SA (France), Oxis Energy Ltd. (United Kingdom), Excellatron Solid State, LLC (United States), Amprius, Inc. (United States). Structural batteries offer several opportunities for automakers and battery manufacturers to increase vehicle range, storage capacity and reduce costs. Leading automakers are actively collaborating with battery companies to develop advanced structural battery prototypes and accelerate their adoption in electric vehicles. Moreover, with government support and investments, structural battery technology is poised to disrupt the global automotive industry and help automakers expand their electric vehicle footprint globally over the coming years.

Market drivers

The increasing adoption of electric vehicles due to stringent emission norms is a major market driver for structural batteries. As EVs need large and powerful batteries to achieve sufficient range, the integration of Structural Battery Market Size throughout the vehicle allows to better distribute battery storage. This significantly improves interior space utilization and passenger comfort. The lightweight yet high energy density properties of structural batteries also help boost EV range and efficiency. With continuous technology advancements, structural batteries are expected to play a vital role in accelerating the large-scale adoption of electric mobility globally over the next decade.

Market restraints

High initial costs of developing and producing structural battery prototypes poses a major challenge to widespread commercialization. Existing lithium-ion structural batteries also face limitations such as safety issues at cell and pack level during impact. Furthermore, the performance degradation and lifecycle unpredictability of structural battery packs restrict their acceptability especially in transportation applications that require long lasting energy storage solutions. Extensive R&D is yet to overcome these technical barriers to structural battery performance, safety and costs. Uncertainties over regulations and standard testing procedures for structural batteries further restrain market growth.

Segment Analysis
The structural battery market is dominated by the electronics devices sub-segment. This is because structural batteries are increasingly being integrated into various electronic devices like smart watches, wireless headphones, laptops etc. to reduce overall device weight and thickness without compromising on design and space. Manufacturers are focused on developing innovative structural battery designs that can be built into structural components like walls, floors and pillars of buildings. The electric vehicles sub-segment also has significant share as leading automakers are exploring opportunities to incorporate structure-integrated batteries in vehicles in order to improve driving range.

Global Analysis
The North America region accounts for the largest share in the global structural battery market currently due to presence of leading players and growing adoption of innovative battery technologies across industries. Asia Pacific region is projected to be the fastest growing market during the forecast period. This is owing to increasing government investments to develop solid-state battery manufacturing facilities and rising adoption of EVs in major countries like China and Japan. Countries like South Korea, Germany and France are also emerging as important markets for structural batteries due to wide acceptance of advanced energy storage solutions across automotive, consumer electronics and renewable energy sectors in these nations. The regional analysis indicates that China is expected to dominate the global market owing to extensive developments in battery materials as well as structural battery technologies by prominent manufacturers in the country.

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