BIS Research Study Highlights Electric Vehicle Acoustic And Thermal Insulation Market To Reach $ 1.10 Billion By 2031
FREMONT, California, August 11, 2021 / PRNewswire / – Electric Vehicle Sound and Thermal Insulation Market Expected to Reach $ 1.10 billion in 2031, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is expected to experience a CAGR of 20.45% during the forecast period 2021-2031.
Reinforced thermal insulation is necessary to protect the battery of electric vehicles (EVs) during extreme weather conditions, as the battery can lose its effectiveness if its temperature is not maintained while driving. This is because the engagement of the battery system for thermal comfort can, in turn, also affect the range and performance of an electric vehicle. This increases the need for adequate thermal insulation in electric vehicles. Additionally, auxiliary noises interfere with the driving experience and interfere with the acoustics of audio systems or haptic feedback while driving the vehicle. Due to these circumstances, sound insulation in an electric vehicle is of great importance.
The detailed study is a compilation of 166 market data tables and 84 figures spread over 226 pages and an in-depth table of contents on “Electric Vehicle Acoustic and Thermal Insulation Market – Analysis and Forecast, 2021-2031 “
USP of the report
- A section dedicated to futuristic trends adopted by the main players in the acoustic and thermal insulation market for electric vehicles
- In-depth competitive benchmarking of top 15 players providing a holistic view of the acoustic and thermal insulation landscape for electric vehicles
- Qualitative and quantitative analysis of the Acoustic and Thermal Insulation for Electric Vehicles market at region level and country level granularity by applications and product segments
Analysts’ perspective on the market
According to Shivam Priyadarshi, Senior Analyst, BIS Research, “The increasing fields of application for insulation in an electric vehicle have led to an increasing demand for various insulation materials such as foams, fibers and rubber pads. Automotive Original Equipment Manufacturers (OEMs) have invested in installing an adequate amount of insulation in their electric vehicles to improve the driving experience, which in turn can increase sales of electric vehicles. In addition, huge investments in the form of grants and infrastructure development by government and federal agencies to promote electric vehicles to reduce carbon dioxide emissions are further stimulating the growth of insulating materials for electric vehicles. Hence, the market is expected to grow significantly during the forecast period 2021-2031. ”
Synopsis of the competition and key companies operating in the market
The players analyzed and profiled in the study involve manufacturers of insulation materials that capture maximum share of the electric vehicle sound and thermal insulation market. Additionally, a detailed competitive benchmarking analysis of players operating in the Electric Vehicle Acoustic and Thermal Insulation market has been performed to help the reader to understand how players stack up against each other, presenting a clear market landscape.
In addition, comprehensive competitive strategies such as partnerships, agreements, and collaborations, as well as mergers and acquisitions should help the reader understand the untapped pockets of revenue in the market.
Some of the key companies operating in the market include ADDEV Materials, Adler Pelzer Holding GmbH, Armacell International SA, Autoneum, CYG Tefa, INOAC Corporation, Morgan Advanced Materials plc, Pritex Limited, Shanghai Xinan Automobile Sound-Insulation Felt Co., Ltd. , Sika Automotive AG, Sumitomo Riko Company Limited, Tecman Specialty Materials Ltd, Toyota Boshoku Corporation, Unifrax, Zotefoams plc.
See the BIS Research report: Electric vehicle acoustic and thermal insulation market
Market segmentation of the acoustic and thermal insulation for electric vehicles market based on:
Material type: The material type segment of the electric vehicle acoustics and thermal market includes foam, fiber, cushion and carpet, etc. The foams segment is believed to dominate the electric vehicle sound and thermal insulation market due to its low cost and durability, as well as better additional thermal insulation properties compared to other types of insulating materials. .
Application: The application segment of the market is classified into passenger compartment, rear compartment, under hood and battery, and exterior. The passenger compartment segment currently holds a large number of application opportunities for insulation materials in an electric vehicle.
Region: The Asia-Pacific region has generated most of the revenue in the electric vehicle sound and heat insulation market due to the increasing adoption of electric vehicles. There are many prominent car manufacturers present in this region, which together with various regional governments have promoted the use of electric vehicles mainly through affordable electric vehicle models subsidized by the government.
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Key questions addressed in the report
- What are the main drivers and challenges for the electric vehicle acoustic and thermal insulation market players?
- How does the supply chain work in the acoustic and thermal insulation market for electric vehicles?
- Which material type segment is expected to experience the maximum growth of the acoustic and thermal insulation market for electric vehicles during the forecast period 2021-2031?
- What are the main application areas that have experienced high demand among sound and thermal insulation materials during the forecast period 2021-2031?
- Who are the players responding to the demand for different acoustic and thermal insulation materials?
- What strategies are adopted by the market players intervening in the Acoustic and Thermal Insulation of Electric Vehicles market?
- What are the key offerings of the leading companies in the acoustic and thermal insulation of electric vehicles market?
- Which regions and countries are leading in terms of consumption for the Electric Vehicle Sound and Thermal Insulation market, and which of them are expected to experience high growth in demand during the forecast period 2021-2031 ?
- How is the insulating materials manufacturers market landscape expected to be in the future for electric vehicles?
- What are the consumption patterns of sound and thermal insulation materials in different types of electric vehicles during the forecast period 2021-2031?
- What has been the impact of COVID-19 on the acoustic and thermal insulation market for electric vehicles?
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