According to a new market report published by Lucintel, the future of the global electric vehicle insulation market looks promising with opportunities in the battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle segments. The global electric vehicle insulation market is expected to grow with a CAGR of 27% from 2021 to 2026. The major drivers for this market are increase in demand for electric vehicles and government regulations regarding vehicle emissions.
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In this market, thermal insulation & management, acoustic insulation, and electrical insulation are the major insulations used to manufacture electric vehicle insulation. On the basis of comprehensive research, Lucintel forecasts that thermal insulation & management will remain the largest insulation segment, and it is also expected to witness the highest growth over the forecast period because of increase in demand for high capacity batteries.
Within the global electric vehicle insulation market, the under the bonnet and battery pack application segment is expected to witness the highest growth over the forecast period due to the need of insulating batteries and electric motors.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the presence of major electric vehicle manufacturers, such as BYD, Geely, SAIC, Chery Automobile, JAC Motors, and Zotye Automobile, and growing concern to reduce greenhouse gas emissions.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of new materials and reduction in noise. BASF SE, Saint-Gobain, Autoneum, DuPont, Zotefoams plc, Unifrax, 3M, Morgan Advanced Materials, Alder Pelzer Holding GmbH, and Elmelin Ltd. are among the major suppliers of the electric vehicle insulation market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric vehicle insulation market by insulation, product type, propulsion, application, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Electric Vehicle Insulation Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global electric vehicle insulation market by insulation, product type, propulsion, application, and region, as follows:
By Insulation [Value ($ Million) and Volume (Thousand Units) from 2015 to 2026]:
Thermal Insulation & Management
Acoustic Insulation
Electrical Insulation
By Product Type [Value ($ Million) and Volume (Thousand Units) from 2015 to 2026]:
Thermal Interface Materials
Ceramic
Foamed Plastics
Others
By Propulsion [Value ($ Million) and Volume (Thousand Units) from 2015 to 2026]:
Battery Electric Vehicles
Plug-in Hybrid Electric Vehicles
Hybrid Electric Vehicles
By Application [Value ($ Million) and Volume (Thousand Units) from 2015 to 2026]:
Under the Bonnet and Battery Pack
Interior
Others
By Region [Value ($ Million) and Volume (Thousand Units) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.