IDTechEx Research Analyzes the Increasingly Overcrowded EV Fire Protection Market
With the rapidly growing EV market, there is certainly a large opportunity to be had for material suppliers, with IDTechEx predicting a 16.3% CAGR for EV battery fire protection materials from 2023 to 2034.
- With the rapidly growing EV market, there is certainly a large opportunity to be had for material suppliers, with IDTechEx predicting a 16.3% CAGR for EV battery fire protection materials from 2023 to 2034.
- However, over the past couple of years, IDTechEx has seen a very large number of material suppliers entering this space.
- In fact, IDTechEx's database of materials now includes over 130 materials used for EV battery fire protection.
- Due to the inherent pros and cons of each material, suppliers may find their portfolio more or less suited to various applications for the battery; for example, protection between cylindrical, prismatic, or pouch cells, module level protection, pack lid protection, busbar protection, seal protection, vent protection, or several others.