Composite Enclosures Market by Fiber Type by End-Use Industry, and By Region - Global Forecast to 2029
The composite enclosures market is estimated at USD 1,977.8 million in 2024 and is projected to reach USD 3,113.6 million by 2029, at a CAGR of 9.5% from 2024 to 2029. Composite enclosures are comparatively low maintenance and offer several advantages such as light-weight, high strength, and enhanced fuel efficiency. The penetration of composites in the electric cars, eVTOLs and advance air mobility applications industry is an emerging trend with a promising future. OEMs of these advanced vehicles need lightweight, fuel efficient, high-strength, and highly durable materials, and composites have proved to be the best solution for manufacturing their enclosure components. Therefore, composite enclosures market is attributed to increasing adoption in automotive and aerospace & defense industries. Besides this, composite enclosures are finding increasing demand from pump station houses, chiller units, chemical storage, and filtration skids.
Attractive Opportunities in the Composite Enclosures Market
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Global Composite Enclosures Market Dynamics
Driver: High demand from battery enclosures
Batteries in electrical vehicles occupies significant space and contribute to increase in weight. Therefore, battery manufactures are emphasizing on design flexibility and reducing the overall eight of the batteries by using composites. This needs for design flexibility, the possibility of tuning for FR properties and lightweighting have all made fiber-reinforced composites key options for EV and eVTOL battery enclosures in recent years.
Restraint: Availability of alternative substitutes
There is a significant competition to composite enclosures from alternative metal and alloys materials. Composite enclosures are increasingly being used to improve performance and aesthetic looks along with several benefits. However, all these benefits attract prices and stiff competition from alternative materials.
Opportunity: Production scale up of eVTOLs
Electric vertical takeoff and landing (eVTOL) vehicles are being developed by several advanced air mobility (AAM) companies. These eVTOL are powered by large batteries. For the eVTOLs to offer better performance, reduced weight, and enhanced fuel efficiency, the batteries designed should be lightweight. They are aimed at launching new platforms and production ramp-ups, process and material innovations in this space. This aspect is expected to provide enormous opportunities for adoption composite enclosures in the eVTOLs.
Challenge: Recycling of composite enclosures
Recycling of composite enclosures made of glass and carbon fiber-reinforced composites, is challenging due to their hardness and complex structure. Integrating multiple materials at small scales further complicates the segregation and recycling processes. There are not many efficient recycling methods for composite materials which impacts their penetration into new applications. The environmental impact of composite waste derived from fossil fuels adds to the difficulty of recycling. These challenges hinder the sustainable disposal and reuse of composite enclosures.
Global Composite Enclosures Market Ecosystem Analysis
The composite enclosures market ecosystem is characterized by a dynamic interplay of key players, including manufacturers, suppliers, and regulatory bodies, all driven by the increasing demand for lightweight and fuel-efficient materials in automotive and aircraft design. Major composite enclosure manufacturers are continuously researching to adopt novel technologies for mass production and application in novel areas. The market is further supported by stringent eco-friendly regulations encouraging use of lightweight and fuel efficient materials. This ecosystem is marked by collaboration between companies and research institutions to innovate and meet the evolving needs of the aviation sector, ensuring robust growth in the coming years.
Segmentation Content
Aerospace industry accounted for the largest market share, both in terms of value and volume.
Aerospace industry is the largest consumer of composite enclosures in terms of value and volume. Composite enclosures are used in avionics, in-flight entertainment, batteries of eVTOL and AAM systems. Eco-friendly regulations mandating airlines to update their aging fleets to achieve fuel efficiency and reduce CO2 emissions is driving the composite adoption in aircraft structures such as enclosures. Further development in the enhanced vision system and automated flight control etc. is driving the adoption of composite enclosure in aircraft applications.
Based on the fiber type, carbon fiber accounted for the largest share of the overall composite enclosures market in 2023.
Based on type, the composite enclosures market has been segmented into carbon fiber, glass fibers, and other fibers. Carbon fibers are known for their exceptional strength-to-weight ratio, making them significantly lighter and stronger than glass and natural fibers. Composite enclosure manufacturers are strategically using carbon fibers to increase the performance and range of EVs, and AAM vehicles.
Further, mass production and decrease in cost of carbon fibers is expected to increase the adoption of carbon fibers in composite enclosure applications.
North America region holds the largest share of the composite enclosures market
The growth of composite enclosures in North America is fueled by the presence robust aerospace & defense industry. The US is a major hub for aerospace & defense industry in North America. The consumption of composites has been rising significantly in commercial and next-generation aircraft because of increased production of advanced aircraft models. As per Boeing Outlook, the demand for single-aisle passenger planes in the region would grow between 65-81% in the next two decades. This growth is expected to trigger the demand for carbon fiber composites in various applications including enclosures.
The aircraft manufacturers are continuously investing in R&D for innovating and developing novel materials and technologies that would meet the performance and government eco-friendly regulations.
The region is also focused on developing advanced air mobility solutions that has high demand for carbon fiber composite materials in various structural applications. Further, the replacement of aging fleets is expected to trigger the demand for composite enclosures.
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Key Market Players
- Amphenol CIT (US)
- Collins Aerospace (US)
- Magna International (Canada)
- TE Connectivity (US)
- Teijin Ltd. (Japan)
- Gestamp (Spain)
- SGL Carbon (Germany)
- CpK Interior Products Inc. (UK)
- Watertronics (South Africa)
- JEE Pumps Limited (India)
- XD thermal (China)
- SEKISUI Aerospace (US)
- Kautex (US)
- EDAG Group AG (Switzerland)
- Bold Valuable Technology Spain S.L (Spain)
Recent Developments of Composite Enclosures Market
- In May 2023, Bold Valuable Technology had developed high-voltage and high-performance battery for eVTOL. The lightweight and high-performance of this battery system was attributed to compression molded dual-skin carbon fiber-reinforced polymer monocoque battery housing.
- In April 2022, Textron (US) had acquired electric aircraft manufacturing company Pipstrel (Slovenia) with the aim to develop eco-friendly aircraft. Textron is an enclosure manufacturer and caters to aerospace & defense industry. This would enable the company to use its expertise an enclosure manufacturer for electric aircraft.
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Frequently Asked Questions (FAQ):
What are the opportunities in the Composite Enclosures market?
Increased adoption EVs and significant growth of advanced air mobility systems globally provide significant opportunities to the market growth.
Define the Composite Enclosures market.
Composite enclosures are alternative means to substitute metal enclosures in batteries and electronic devices in automotive and aerospace & defense industries. Substituting metal enclosures with composites offers several advantages such as lower weight, corrosion resistance, and lower costs. Apart from this, the composite enclosure are also used in industrial applications such as pimps, filtration skids, chemical storage etc.
Which region is expected to have the largest market share in the Composite Enclosures market?
North America’s composite enclosures market has been experiencing growth and significant industry demand. The region is home to several prominent aircraft manufacturers and attracts significant investments form private and public sectors, boosting innovation in new material and technological developments.
What are the major market players covered in the report?
Some of the key players in the composite enclosures market are market include Amphenol CIT (US), Collins Aerospace (US),Magna International (Canada), TE Connectivity (US), Teijin Ltd. (Japan), Gestamp (Spain), SGL Carbon (Germany), CpK Interior Products Inc. (UK), Watertronics (South Africa), JEE Pumps Limited (India), XD Thermal (China), SEKISUI Aerospace (US), Kautex (US), EDAG Group AG (Switzerland), Bold Valuable Technology Spain S.L (Spain) among others. These key manufacturers have secured partnerships, acquisitions, contracts, deals in the last few years to strengthen their position in the composite enclosures market.
How big is the global Composite Enclosures market today?
The composite enclosures market is estimated at USD 1,977.8 million in 2024 and is projected to reach USD 3,113.6 million by 2029, at a CAGR of 9.5% from 2024 to 2029.
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The study involved major activities in estimating the current market size for the composite enclosures market. Exhaustive secondary research was done to collect information on the composite enclosures industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Different approaches, such as top-down and bottom-up, were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the Composite Enclosures market.
Secondary Research
The market for the companies offering Composite Enclosures is arrived at by secondary data available through paid and unpaid sources, analyzing the product portfolios of the major companies in the ecosystem, and rating the companies by their performance and quality. Various sources were referred to in the secondary research process to identify and collect information for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles from recognized authors, directories, and databases. In the secondary research process, various secondary sources were referred to for identifying and collecting information related to the study. Secondary sources included annual reports, press releases, and investor presentations of Composite Enclosures vendors, forums, certified publications, and whitepapers. The secondary research was used to obtain critical information on the industry’s value chain, the total pool of key players, market classification, and segmentation from the market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the Composite Enclosures market.
After the complete market engineering (calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types, industry trends, competitive landscape of Composite Enclosures offered by various market players, and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key player strategies.
In the complete market engineering process, the top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform the market estimation and market forecasting for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to list the key information/insights throughout the report.
The breakup of Primary Research:
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Composite Enclosures Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Composite Enclosures market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
Global Composite Enclosures Market Size: Bottom-Up Approach and Top-Down Approach
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Data Triangulation
After arriving at the overall market size using the market size estimation processes explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Composite enclosures are composed of fibers and resins. These materials are strong and provide exceptional impact resistance, tensile strength, bending resistance, etc. In some cases, they may be sturdier than metal counterparts as they are not easily deformed. The companies are striving to achieve compression molding of composites that would also offer precision features.
Key Stakeholder
- Composite enclosures manufacturers and distributors
- Research and consulting firms
- Automotive and aircraft manufacturers
- Associations and government institutions
Report Objectives:
To define, describe, and forecast the Composite Enclosures market based on – fiber type, end-use industry, and region.
- To define, describe, and forecast the Composite Enclosures market based on fiber type, end-use industry, and region
- To provide detailed information about the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To analyze opportunities for stakeholders by identifying the high-growth segments of the market
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America
- To analyze subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
- To profile the key players and comprehensively analyze their market sizes and core competencies
- To track and analyze competitive developments such as product enhancements and new product launches, acquisitions, and partnerships & collaborations in the market globally
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:
Growth opportunities and latent adjacency in Composite Enclosures Market