Nov 13, 2020, 06:42 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 13, 2020, 06:42 /Comserve / -- Global Electric Vehicle Insulation Market is valued approximately at USD 1.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 26% over the forecast period 2020-2026.
Global Electric Vehicle Insulation Market is valued approximately at USD 1.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 26% over the forecast period 2020-2026. Insulation plays an important role in optimal thermal management in the electric vehicles, hence used most frequently used in the design of batteries packs and other applications. Electric vehicle insulation manages battery temperatures to ensure they provide the optimum range for powering electric vehicles. The Electric Vehicle Insulation Market is driven mainly by the increasing production of Battery Electric Vehicles.
As per the International Energy Agency, world BEV vehicle sales increased from o.23 million in 2003 to 3.29 million in 2018. Further, as per the aforementioned source, the passenger light-duty vehicle (PLDVs)- battery electric vehicles (BEV) sales in expected to reach 145 million by 2030 from about 3 million PLDV’s-BEV in 2018. Growing concerns over pollution along with heavy investments from automakers in electric vehicles are key driving forces of the market growth. Furthermore, growth of autonomous electric vehicles is likely to create significant growth opportunity in the market over the forecast period. However, lack of standardization impedes the growth of the market over the forecast period of 2020-2026.
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The regional analysis of global Electric Vehicle Insulation market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing presence of key electric vehicle manufacturers such as Tesla and General Motors along with key electric vehicle insulation manufacturers such as DuPont, Unifrax, 3M, Pyrophobic Systems Ltd among others in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as increasing production of electric vehicles, presence of major manufacturers of electric vehicles would create lucrative growth prospects for the Electric Vehicle Insulation market across Asia-Pacific region.
Major market player included in this report are:
Morgan Advanced Materials
Von Roll Holding AG
Alder Pelzer Holding GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Propulsion type:
By Insulation type:
Thermal insulation & management
By Product type:
Thermal interface materials
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Under the bonnet and battery pack
Rest of the World
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