According to Report, the Electric Vehicle Insulation market size is expected to be worth around US$ 5.3 billion by 2027 and is growing at a CAGR of 19.4% during forecast period 2021 to 2027.
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Growing regulatory support for the adoption of EVs and the implementation of strict vehicular emission norms are expected to drive the market growth.
The rise in demand for environmentally sustainable and green vehicles is expected to have a positive impact on product demand. Product applications to control and maintain the battery pack coupled with reducing the vehicular noise and vibrations of the are expected to drive the market growth over the forecast period.
Growing regulatory support in the form of rebates and subsidies for encouraging the use of EVs in the European Union is expected to have a positive impact on market growth. Furthermore, the growing emphasis on reducing the vehicular pollution in China is projected to augment the product demand over the forecast period.
The market is largely dominated by major corporations with high integration throughout the value chain. The market is highly price-sensitive and price wars among companies are common. The market is moving towards consolidation, with large firms taking over the overseas factories to expand in regions with high growth potential.
Foamed plastics led the market and accounted for more than 58% share of the global revenue in 2019. Foamed plastic insulation is extremely lightweight and exhibits superior impact resistance properties. Furthermore, the use of compression pads made from foamed plastics to reduce the vibration and shock on the battery components is having a favorable impact on the market.
The demand for thermal interface materials is expected to register a significant CAGR of 20.3% over the forecast period. Growing product utilization in the battery pack management systems owing to its superior thermal conductivity, low viscosity, and ability to maintain insulating properties at high temperatures are anticipated to fuel the segment growth.
Electrical insulation led the market and accounted for more than 50% share of the global revenue in 2019. The segment is estimated to expand further at the fastest CAGR from 2020 to 2027. The thermal product segment is projected to account for the second-highest market share by 2027 due to the rising demand for thermal insulation materials in the battery pack management. Moreover, product utilization in retaining the interior temperature of the vehicle is having a positive impact on market growth.
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Under the hood & battery pack application segment led the market and accounted for more than 42% share of the global revenue in 2019. Ever-increasing product utilization for insulating a variety of vehicle components, such as battery packs and electric motor, is projected to boost the segment growth.
The interior application segment is anticipated to register the second-fastest CAGR of 19.3% over the projected period. The growing use of thermal and acoustic insulation for improving passenger comfort as well as reduce the vehicle noise and vibrations within the vehicle interior. The anticipated launch of various EV models is expected to boost product demand.
The Hybrid Electric Vehicle (HEV) segment led the market and accounted for more than 52% share of the global revenue in 2019. Growing demand for environmentally friendly, fuel-efficient cars is driving the segment growth. In addition, the growing regulatory support for the adoption of hybrid cars is further expected to boost the market growth over the forecast period.
The Battery Electric Vehicle (BEV) segment is anticipated to register the fastest CAGR of 22.5% over the forecast period. Growing demand for EVs, rising investments in the development of newer vehicle models, and improvements in battery technology are expected to drive the segment growth.
The Asia Pacific region dominated the market and accounted for over 56% share of global revenue in 2019. The region is witnessing an exponential demand for EVs on account of growing regulatory support and rising emphasis on reducing the Greenhouse Gas (GHG) emission from vehicular sources.
The European region is at the forefront in the adoption of various EV technologies, such as BEV, PHEV, and HEV. Thus, the product demand in the region stood at USD 246.6 million in 2019 and is expected to grow at a CAGR of 15.4% over the forecast period.
- Parker Hannifin Corp
- Elkem Silicones
- Knauf Industries
- BASF SE
- Zotefoams Plc
- Elmelin Ltd.
- Pyrophobic Systems Ltd.
- Morgan Advanced Materials
- Material Outlook
- Thermal Interface Materials
- Foamed Plastics
- Product Outlook
- Thermal Insulation
- Electrical Insulation
- Acoustic Insulation
- Application Outlook
- Under the Hood & Battery Pack
- End-use Outlook
- Battery EV
- Plug-in Hybrid EV (PHEV)
- Hybrid EV (HEV)
- Fuel Cell EV
- Regional Outlook
- North America
- The U.S.
- The U.K.
- Asia Pacific
- South Korea
- Rest of the World
- North America
The Electric Vehicle Insulation market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Electric Vehicle Insulation market for the base year 2021 and the forecast between 2021 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Electric Vehicle Insulation market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Electric Vehicle Insulation market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Electric Vehicle Insulation market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Electric Vehicle Insulation capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Electric Vehicle Insulation by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Electric Vehicle Insulation market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Electric Vehicle Insulation market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Electric Vehicle Insulation market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Electric Vehicle Insulation industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Electric Vehicle Insulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Electric Vehicle Insulation market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Electric Vehicle Insulation market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Electric Vehicle Insulation market. These factors have benefited the growth of the global market for Electric Vehicle Insulation. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Electric Vehicle Insulation. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Electric Vehicle Insulation are as follows:
- Historic Year: 2016-2020
- Base Year: 2021
- Forecast Year 2021 to 2027
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various 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 include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2020) and forecast (2021-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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