“The thermal interface materials segment is estimated to witness the highest growth rate between 2019 and 2024.”
The electric vehicle insulation market size is estimated to grow from USD 1.3 billion in 2019 to USD 4.2 billion by 2024, at a CAGR of 26.7%. The thermal interface materials in the product type segment is estimated to witness the higher growth rate between 2019 and 2024. The growth is attributed to the growing demand for thermal management in batteries, with the increasing production of electric vehicles.
“Growing demand for BEV is expected to drive the electric vehicle insulation market.”
The market in the electric vehicle insulation propulsion type is driven mainly by the increasing production of BEV. The emission-free technology of BEV accompanied by an increasing need to insulate battery packs, among other components with the growing production of BEV, is estimated to drive the market demand.
“Thermal insulation & management is expected to drive the electric vehicle insulation market.”
The thermal insulation & management segment is estimated to witness the highest CAGR during the forecast period. This is owed to increasing demand for thermal insulation & management in battery packs. Also, the growing demand for high capacity batteries with increasing production of electric vehicles is another factor driving the thermal insulation & management segment.
“Under the bonnet and battery pack application is estimated to witness the highest CAGR during the forecast period.”
Under the bonnet and battery pack application is estimated to witness the highest CAGR during the forecast period. This is due to the need to insulate battery and electric motor, among other components in case of BEVs; and internal combustion engine (ICE), battery, and electric motor, among other components in case of PHEVs.
“The electric vehicle insulation market in North America is projected to witness the highest growth during the forecast period.”
The North American electric vehicle insulation market is estimated to witness significant growth during the forecast period. This is due to the 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., and Marian Inc. among others in the region. Also, stringent regulations regarding CO2 emission are driving the market in the region.
- By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
- By Designation: C-Level - 30%, Director Level - 22%, and Others - 48%
- By Region: APAC - 60%, North America – 25%, Europe- 15
The key players profiled in the report include BASF SE (Germany), Morgan Advanced Materials (UK), Alder Pelzer Holding GmbH (Germany), Saint-Gobain (France), DuPont (US), Zotefoams plc (UK), Autoneum (Switzerland), Unifrax (US), 3M (US), Elmelin Ltd. (UK), Techman Advanced Material Engineers (UK), Von Roll Holding AG (Switzerland), Pyrophobic Systems Ltd. (Canada), and Marian Inc. (US).
This report segments the market for electric vehicle insulation based on product type, propulsion type, insulation type, application, and region and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, expansions, new product launches, expansions, acquisitions, joint ventures, and new technology development associated with the electric vehicle insulation market.
Reasons To Buy this Report
This research report is focused on various levels of analysis industry analysis (industry trends), and company profiles, which together provide an overall view on the competitive landscape, emerging and high-growth segments of the electric vehicle insulation market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on electric vehicle insulation offered by top players in the global electric vehicle insulation market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and innovation in the market
- Market Development: Comprehensive information about lucrative emerging markets ? the report analyzes the markets for electric vehicle insulation across regions
- Market Diversification: Exhaustive information about new application areas and recent developments in the global market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the market