Global CTP Battery Tray Market Growth 2023-2029

Global CTP Battery Tray Market Growth 2023-2029

The global CTP Battery Tray market size is projected to grow from US$ 795.3 million in 2022 to US$ 9898.7 million in 2029; it is expected to grow at a CAGR of 43.4% from 2023 to 2029.

The key manufacturers of CTP Battery Tray are concentrated in China, include Guangdong Hoshion Aluminium Co.,Ltd, Huada Automotive Technology, Minth Group, Huayu Automotive Systems, Ling Yun Industrial Corp Ltd, and Lucky Harvest, etc.

Guangdong Hoshion Aluminium Co.,Ltd. and Huada Automotive Technology each hold about 30% of the market share.

China is the world's largest market, with about 97% of the market. It is expected that the market in North America, Europe and other regions will further expand in the future, while China will maintain the largest market share.

In terms of products, CTP battery tray is mainly divided into aluminum battery tray and steel battery tray. At present, the market is mainly made of aluminum battery tray, and steel battery tray is expected to be further developed.

In terms of application, pure electric vehicle and hybrid electric vehicles are the main downstream markets. Pure electric vehicle account for about 80%. It is expected that the application of the product in the hybrid electric vehicle industry will increase and gradually reach the level of pure electric vehicle.

Before the emergence of power electricity in CTP technology, the manufacture of battery packs was divided into three steps of "Cell-Module-Pack". The cells were assembled into modules and then packed into battery packs. The existence of modules is to improve the efficiency of packaging cells into battery packs and facilitate maintenance. However, with the increase in the amount of electricity carried by automobiles, the number of standardized batteries is also increasing, and the number of modules is also increasing. This increases the number of components, resulting in an increase in weight and cost and a decrease in space utilization.

CTP technology reduces the burden on the battery pack by reducing or even giving up the use of modules. The full name of CTP is "Cell to Pack", which skips the standard module link and directly integrates the battery cells on the battery pack, which effectively improves the space utilization and energy density of the battery pack.

CTP battery trays present a trend of replacing traditional trays. Compared with traditional trays, CTP technology can reduce the manufacturing cost of power batteries. At present, the penetration rate of CTP trays is about 10-15%. The main adopters of CTP technology are BYD and CATL. It is expected that the follow-up will develop rapidly and is expected to occupy the market. In terms of value, CTP battery trays are about 100% higher than traditional trays.

LPI (LP Information)' newest research report, the “CTP Battery Tray Industry Forecast” looks at past sales and reviews total world CTP Battery Tray sales in 2022, providing a comprehensive analysis by region and market sector of projected CTP Battery Tray sales for 2023 through 2029. With CTP Battery Tray sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world CTP Battery Tray industry.

This Insight Report provides a comprehensive analysis of the global CTP Battery Tray landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on CTP Battery Tray portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global CTP Battery Tray market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for CTP Battery Tray and breaks down the forecast by materials, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global CTP Battery Tray.

This report presents a comprehensive overview, market shares, and growth opportunities of CTP Battery Tray market by product materials, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by materials
Aluminum Battery Trays
Steel Battery Trays

Segmentation by application
Pure Electric Vehicle
Hybrid Vehicle

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Guangdong Hoshion Aluminium Co.,Ltd
Huada Automotive Technology
Minth Group
Huayu Automotive Systems
Ling Yun Industrial Corp Ltd
Lucky Harvest

Key Questions Addressed in this Report

What is the 10-year outlook for the global CTP Battery Tray market?

What factors are driving CTP Battery Tray market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do CTP Battery Tray market opportunities vary by end market size?

How does CTP Battery Tray break out materials, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.