Future of Vehicles is Electric – but how soon future is?

 The global electric vehicle insulation market is growing proficiently, projected to grow at a CAGR of 26.3% during the expected period from 2019 to 2027, starting from US$ 1.26 Bn in 2018.

Electrical vehicle cabin insulation types highly rely on the vibration, noise, and harness (NVH) design of an automobile. The overall electrical vehicle cabin insulation is precisely intended for making the ride quality smooth for the occupants of the particular automobile. The automotive cabin insulation and refinement is part of the NVH design quality. Although electric vehicles already produce less noise, there are still significant opportunities for the manufacturers for tapping markets in this emerging industry. The electric vehicle's cabin can be made silent by close analysis of the NVH transfer paths. 

“Rising demand for capacity utilization along with the implementation of government policies and schemes will drive the demand for electric vehicle insulation globally”

The future of EVs is expected to be bright and with time the price of batteries, one of the most vital components in an EV, is reducing significantly which would make EVs more affordable. The mid-Priced vehicle class has limited features with less emphasis on features like infotainment, instrument cluster, and other expensive features. China is one of the leading countries for the mid-priced segment. Companies such as BYD, Smart, and Great Wall Motors are manufacturing comparatively less expensive vehicles. In July 2018, Great Wall Motors announced a partnership with BMW Group to produce electric MINI vehicles in China. In December 2018, the company launched its new flagship vehicle under its new ‘ORA’ electric car brand: the ORA R1. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles.

“Dominance is led by rising power demand from residential and industrial communities coupled with intensifying utility investments to drive the market growth.”

The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in countries such as China, Japan, and South Korea is inclined toward innovation, technology, and the development of advanced electric vehicles. The increasing demand for reducing carbon emission and developing more advanced and fast charging stations are expected to propel the growth of electric vehicles. BYD, BAIC, Chery, and SAIC among others are some of the key players in the Asia Pacific electric vehicle market.

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List of Companies Covered:

• Hilti
• Marian Inc.
• Techman Advanced Material Engineers
• Pyrophobic Systems Ltd.
• Elmelin Ltd.
• Alder Pelzer Holding Gmbh
• Morgan Advanced Materials
• 3M
• DuPont
• Unifrax
• Von Roll Holding AG
• Zotefoams Plc
• ITW Inc.
• BASF SE
• Autoneum
• Saint-Gobain

Key Industry Developments:

• In April 2019, BYD announced the launch of the K12A at the company's headquarters in Shenzhen, the world's first 27-m pure electric bus. With a passenger capacity of 250 people, it is the longest pure electric bus in the world and can travel at a maximum speed of 70 km/h.
• In May 2019, Volkswagen announced pre-booking in Europe for the first model of its new full-electric ID.3. The first special edition, which has been specially configured for pre-booking, includes high-quality, high-performance equipment and is limited to 30,000 vehicles.

Key Market Movements:

• Globally, the electric vehicle insulation market is rising at a CAGR of 26.3% for the estimated period from 2019 to 2027.
• The Asia Pacific is likely to grow at a faster rate for the electric vehicle insulation market over the forecast period. Moreover, rising foreign direct investments, increasing production of electric vehicles, urbanizing population, growing investments, and technological expansion for smart cities from emerging countries like Singapore, China, and India will increase the market growth across the region.
• North America will experience a significant market growth for electric vehicle insulation with holding a 40% market share in 2018. The persistence of top manufacturers, growing investments in electric vehicle production and its infrastructure, strong sales performance, potential market with the presence of premium buyers will drive the market growth.
• However, sustainable market growth, the introduction of smart cities, and regulatory developments along with consumer focused government incentive schemes across the regions will drive the overall demand.

Browse the full report at https://www.acutemarketreports.com/report/electric-vehicle-insulation-market

The Global Electric Vehicle Insulation Market is Segmented into:

ATTRIBUTE	DETAILS
Research Period	2017-2027
Base Year	2018
Forecast Period	2019-2027
Historical Year	2017
Unit	US$ Billion
Segmentation	By Propulsion Type (2017–2027; US$ Bn)
	By Insulation Type (2017–2027; US$ Bn)
	By Application (2017–2027; US$ Bn)
	By Geography (2017–2027; US$ Bn)

*Complete segmentation list is on the report page