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Electric Vehicle Insulation Market Size
- Report ID: GMI5361
- Published Date: Sep 2022
- Report Format: PDF
Electric Vehicle Insulation Market Size
Electric Vehicle Insulation Market size valued at USD 400 million in 2021 and is projected to expand at more than 11.5% CAGR from 2022 to 2030. Rising demand for emission-free transportation to bolster the market revenue.
Growing concerns about the environment have fostered the adoption of clean energy solutions such as electric vehicles. According to the International Energy Agency (IEA), more than 6.6 million electric cars were sold in 2021. Specifically, China sold over 3.4 million electric cars, while the U.S. sold around half a million EVs in 2021. The steady increase in EV sales figures, in turn, is set to propel the demand for integral vehicle components, including electric vehicle insulation solutions.
The lack of charging infrastructure for electric transportation, along with high initial costs will impede the electric vehicle insulation market growth to some extent. This is due to the expected scarcity of lithium-ion and the lack of global regulations for public charging systems. However, the ecological advantages of optimum sustainable solutions, and the subsequent rise in demand for such components may drive the electric vehicle insulation developments.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Electric Vehicle Insulation Market Size in 2021: | 400 Million (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 11.5% |
| 2030 Value Projection: | 1.3 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 377 |
| Segments covered: | Product Type, Propulsion Type, Insulation Type, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Electric Vehicle Insulation Market Scope
