Global Automotive NVH Materials Market 2019-2023| Growing Emphasis on Reduction of NVH Levels to Augment Growth| Technavio
LONDON--(BUSINESS WIRE)--Jan 6, 2019--The global automotive NVH materials market is expected to post a CAGR of nearly 7% during the period 2019-2023, according to the latest market research report by .
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Technavio predicts the global automotive NVH materials market is expected to post a CAGR of nearly 7% by 2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing stringency of government regulations on noise reduction. Several countries are implementing laws and regulations to ensure noise pollution owing to the rising focus to reduce the noise levels in the environment. Thus, compliance with such regulations pertaining to limiting the noise levels of automobiles exerts intense pressure on automobile manufacturers to employ high-quality and durable NVH materials. For example, the European Union (EU) has regulated the maximum permissible noise limit for automobiles based on the overall weight and engine power of the vehicles.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growing emphasis on reduction of NVH levels as one of the key emerging trends in the global automotive NVH materials market:
Global automotive NVH materials market: Growing emphasis on reduction of NVH levels
Emerging consumer needs, expectations, and changing market dynamics determine the modern vehicle designs. The consumers have now started giving more preference to vehicle design, handling, safety, and comfort over fuel economy or cost of maintenance. In addition to the powertrain, safety, and comfort; NVH levels also play a critical role in determining the consumer experience.
“A decade ago, consumers paid little attention to the noise level generated by the powertrain components while traveling on the road. However, consumers today are looking for smoother and quieter vehicles that generate minimal noise. NVH levels have been one of the most crucial and challenging aspects of vehicle design and require significant investment as well. Factors such as type, quality of material selected, design specifications, process implemented, and wire harnessing play a crucial role in determining the NVH levels,” says a senior analyst at Technavio for research on automotive components.
Global automotive NVH materials market: Segmentation analysis
This market research report segments the global automotive NVH materials market by application (floor module, cockpit module, trunk module, and wheel arches), product (polyurethane, mixed textile fiber, and fiberglass), and geographical regions (APAC, EMEA, and the Americas).
The floor module segment held the largest market share in 2018, accounting for nearly 25% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of nearly 51%. This region is expected to dominate the market through 2023, with over 1% increase in its market share.
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Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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