The electric vehicle insulation market size is projected to reach USD 4.2 billion by 2024 from the estimated USD 1.3 billion in 2019, at a CAGR of 26.7% between 2019 and 2024. Massive investments from automakers in electric vehicles, growing concerns over pollution, campaigns for promotion of electric vehicles, favorable government policies and subsidies, and thermal runaway in batteries, are the factors driving the demand for electric vehicle insulation. However, the lack of standardization of charging infrastructure is restraining the growth of the market. On the other hand, the scope for growth of autonomous electric vehicles, and scope for further development of insulation materials for electric vehicles are providing opportunities for the players in the market. The market players are mainly concentrating on expansions, new product launches, acquisitions, investments, new technology development, and joint ventures to meet the growing demand in various applications.
The growth of the electric vehicle insulation market has been influenced primarily by expansions, and new product launches. The market is fragmented with the dominance of players, such as Autoneum (Switzerland), BASF SE (Germany), and Saint-Gobain (France) in different application segments. Other players present in the market are DuPont (US), Zotefoams plc (UK), Unifrax (US), 3M (US), Morgan Advanced Materials (UK), Alder Pelzer Holding GmbH (Germany), Elmelin Ltd. (UK), Pyrophobic Systems Ltd. (Canada), Techman Advanced Material Engineers (UK), Von Roll Holding AG (Switzerland), and Marian Inc. (US).
To know about the assumptions considered for the study download the pdf brochure
Autoneum is one of the largest manufacturers of electric vehicle insulation for acoustic insulation. The company aims to maintain its strong position in the market. It has adopted the strategy of new product launches, expansion, and joint ventures in the past few years. In 2017 and 2019, Autoneum extended its product portfolio to support vehicle manufacturers in the production of lightweight and environmentally-friendly electric vehicles. The company launched battery undercovers and acoustic insulation materials for carpet systems, inner dashes, and floor. The company also expanded its presence in countries like China and Hungary to meet the growing demand for lightweight materials for electric vehicles.
Saint-Gobain is another important player in thermal management of batteries in the market. The company offers various products for battery applications. The company focuses on R&D to meet the growing need for low-carbon emission from the mobility market by developing polymer components for electric vehicle batteries.
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=21168723
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/electric-vehicle-insulation-market-21168723.html