In the wake of the projected depletion of the global crude oil sources and the rising concerns over air pollution in many cities, automotive manufacturers are developing electric vehicles (EVs) as affordable, dependable, and safe alternatives to internal combustion (IC) engine vehicles. Further, increasing legislation in many parts of the world to decrease exhaust emissions from vehicles have led electric vehicle manufacturers to develop battery-electric or fully electric vehicles (BEVs). Other types of EVs available are hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs). Electric vehicle sales have slowly gained momentum in many regional markets, but the market is still minuscule as compared to the global internal combustion engine-based vehicles market. As various projections indicate that electric vehicles will eventually dominate the automotive industry, many existing vehicle manufacturers, along with several new players, have started aligning their company goals toward producing electric vehicles.
Read Report Overview: Acoustic and Thermal Insulation Market for Electric Vehicles
Acoustic and Thermal Insulation Market for Electric Vehicles Industry Overview
The global acoustic and thermal insulation market for electric vehicles, along with the summary of different segmentations, are covered in this research study. The global acoustic and thermal insulation market for electric vehicles was valued at $134.4 million in 2020 and is projected to reach $1,108.4 million by 2031, registering a CAGR of 20.45% during the period 2021-2031.
The growth in the global acoustic and thermal insulation market for electric vehicles is attributable to the ongoing demand for innovative, lightweight, and efficient insulation materials for electric vehicles. Generally, for the context of determining a material’s thermal conduction on a flow of heat, the material’s R-value is calculated. The higher the R-value, the better the insulating effectiveness of the material. The current demand for insulation materials for electric vehicles is to be lightweight, cheap, and with a higher R-value for insulation.
Acoustic and Thermal Insulation Market for Electric Vehicles by Material Type
The material type segment of the acoustic and thermal market for EV includes foam, fiber, pad and mat, and others. The foam segment is estimated to dominate the global acoustic and thermal insulation market for electric vehicles due to their low cost and durability, along with their better additional thermal insulation properties as compared to other types of insulation materials.
Acoustic and Thermal Insulation Market for Electric Vehicles by Application type
The application type segment of the market is categorized into passenger compartment, rear compartment, under the hood and battery pack, and exterior. The passenger compartment segment currently holds a significant number of application opportunities for insulation materials in an electric vehicle. This is due to multiple application areas for insulation materials inside a passenger cabin, such as inside door panels, under the floor, on the roof, on vehicle seats, and on the vehicle dashboard. The fact that a large quantity of insulation materials is needed to cover the insides of a passenger vehicle cabin leads to the high usage of insulation materials for this application.
Acoustic and Thermal Insulation Market for Electric Vehicles by Region
The Asia-Pacific region generated a majority of the revenue in the global acoustic and thermal insulation market for electric vehicles due to the increased adoption of EVs in this region. Many prominent vehicle manufacturers are present in this region, which along with various regional governments, have promoted the usage of electric vehicles mainly through government-subsidized affordable EV models.
Request For Sample: https://bisresearch.com/requestsample?id=1153&type=download
Key Market Players and Competition Synopsis
ADDEV Materials, Adler Pelzer Holding GmbH, Armacell International S.A., 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 Speciality Materials Ltd, Toyota Boshoku Corporation, Unifrax, Zotefoams plc
The companies that are profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the acoustic and thermal insulation market for electric vehicles.
Technological innovation in the transportation industry encompasses a comprehensive range of mobility methods delivering a broad range of products to the industry.
Today's consumer is well-connected and well-informed, and as a result, this is leading the major operating players to research, develop, and technologically evolve continuously to safeguard their position in the ecosystem.
Transportation system regulations are primarily designed around demographic needs based on the government policy framework.
Some of the essential criteria which are taken into consideration while creating a policy regulation for a specific region are- the socio-economic conditions, commuter lifestyle, degree of technology acceptance, demographic terms, infrastructure availability, and global economic conditions.Public transportation is the basic and most common form of mobility in any economy, which can further facilitate transportation of people and goods on a daily basis at subsidized costs and in a secured manner.
Currently, a major gap in the adoption of public transportation is in the form of last mile connectivity, that is, from home to station or bus stop, and vice versa.Micro mobility has the potential to provide first- and last-mile connectivity for commuters.Mobility as a service (MaaS) providers have established a strong foundation for the development shared mobility ecosystem, which has the potential to ensure high resource utilization rate unlike the conventional method of personal vehicle ownership model.
The foundation also leads to an essential fact that there are gaps in MaaS and end-to-end connectivity; and here, micro mobility performs as a bridge between shared services and their end-to-end connectivity.
the Technique is dictated by policy decision, therefore, will be the Continental to strangle the development of many of the components of internal combustion engines.
The German giant, is associated with with their tires, but the Continental also supplies components to the automotive industry through its divisions, Powertrain, Chassis & Safety and Interior & Telematics.
for Now, the company has agreed with all of the focus and the capital to be placed in the eldrivlinor, which the company believes is the future.
At this, the group's customers are increasingly betting on hybrid solutions and battery-operated vehicles.
" We have long been a technology leader in the field of electronic control units with the associated software.
in Order to keep up with the pace of our customers and the markets we are focusing is now faster and more systematically to our strengths, with the aim of applying our wide-ranging and successful applied experience in the future of electric mobility, " says Andrew Wolf, in a news release.
