Electrical Vehicle Insulation Market Size Worth $5.4 Billion By 2027: Grand View Research, Inc.
SAN FRANCISCO, Sept. 21, 2020 /PRNewswire/ -- The global electric vehicle insulation market size is expected to reach USD 5.4 billion by 2027, registering a CAGR of 19.5%, according to a new report by Grand View Research Inc. Growing regulatory support for the adoption of EVs and the implementation of strict vehicular emission norms are expected to drive the market growth.
Key suggestions from the report:
Read 125 page research report with ToC on "Electric Vehicle Insulation Market Size, Share & Trends Analysis Report By Material (Foamed Plastics, Ceramics), By Product (Electrical Insulation), By Application, By End-use (BEV, HEV), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/electric-vehicle-insulation-market
The rise in demand for environmentally sustainable and green vehicles is expected to have a positive impact on product demand. Product applications to control and maintain the battery pack coupled with reducing the vehicular noise and vibrations of the EVs are expected to drive the market growth over the forecast period.
Growing regulatory support in the form of rebates and subsidies for encouraging the use of EVs in the European Union is expected to have a positive impact on market growth. Furthermore, the growing emphasis on reducing the vehicular pollution in China is projected to augment the product demand over the forecast period.
The market is largely dominated b major corporations with high integration throughout the value chain. The market is highly price-sensitive and price wars among companies are common. The market is moving towards consolidation, with large firms taking over the overseas factories to expand in regions with high growth potential..
Grand View Research has segmented the global electric vehicle insulation market on the basis of material, product, application, end-use, and region:
List of Key Players of Electric Vehicle Insulation Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc.
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