Automotive NVH Materials Market Size Worth $13.09 Billion By 2025: Grand View Research, Inc.
The global automotive noise, vibration & harshness (NVH) materials market is expected to reach USD 13.09 billion by 2025, according to a new report by Grand View Research, Inc. Globally increasing automobile production has been a major factor driving market growth. In addition, growing awareness regarding the advantages of NVH reduction and acoustic management in vehicles has led to the increased utilization of NVH materials in automobiles.
The use of noise & vibration absorbing and damping products in automobiles help improve the overall ride quality, comfort, performance, and safety of the vehicle. The increasing automobile production across the globe acts as the major driver for the industry growth. In addition, the shifting consumer preferences towards comfort, and ride experience in passenger cars is expected to propel the demand for the product over the coming years.
Foam laminates were the largest product category in 2015 and is expected to maintain a relatively high growth rate over the forecast period. The molded foam product category is expected to witness relatively low growth of 3.8% over the coming years, owing to its limited application scope in vehicles.
NVH materials in HCVs are expected to observe the fastest growth over the next nine years at an estimated CAGR of over 6% from 2016 to 2025. The increasing use of heavy-duty trucks in the logistics & transportation industry, for the transportation of heavy commodities over medium and long distances, propels the demand for HCVs. In addition, the presence of stringent regulations concerning vehicle safety, in terms of vehicle weight and safety standards, is expected to boost the demand for light-weight products in HCVs over the forecast period.
Full research report on Global Automotive Noise, Vibration & Harshness (NVH) Materials Market: http://www.grandviewresearch.com/industry-analysis/automotive-nvh-materials-market
Further key findings from the report suggest:
- The global automotive NVH materials revenue surpassed USD 8,000 million in 2015 and is expected to witness significant growth during the forecast period, mainly on account of increasing automotive production worldwide
- Foam laminates emerged as the largest product segment in 2015 and is estimated to generate revenue over USD 3,400 million by 2025; this can be attributed to the increasing use of this product in key application areas such as floor lining, roofing, and door panels
- The global demand in absorption was USD 4,738 million in 2015 and is anticipated to witness high growth over the forecast period, owing to the increasing shift of consumer preferences towards enhanced levels of comfort and noise control in interior cabins of vehicles
- The cars segment emerged as the largest end-use segment in 2015 and is estimated to generate revenue of nearly USD 10,000 million by 2025; the high share can be attributed to the relatively higher production output of cars among all vehicle types, globally
- The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to increasing automobile production across major economies, especially in the passenger cars segment. The regional market is expected to grow at a CAGR of 5.7% from 2016 to 2025
- Key players including ElringKlinger AG, Unique Fabricating Inc., Rogers Foam Cooperation, Avery Dennison, and W. KOPP GmbH & Co. KG account for a substantial share in the global automotive NVH materials market.
View more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the global automotive NVH materials market on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Million, 2014 – 2025)
- Molded Rubber
- Metal Laminates
- Foam Laminates
- Molded Foam
- Engineering Resins
Application Outlook (Revenue, USD Million, 2014 – 2025)
End-use Outlook (Revenue, USD Million, 2014 – 2025)
Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Central & South America
- Rest of the World
Access press release on Global Automotive Noise, Vibration & Harshness (NVH) Materials Market By Grand View Research: http://www.grandviewresearch.com/press-release/global-automotive-noise-vibration-harshness-nvh-materials-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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