Press release
Silencing the Road: Innovations in Automotive Noise Insulation
According to The Business Research Company's, the automotive noise insulation parts market size has grown strongly in recent years. It will grow from $6.98 billion in 2023 to $7.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. the growth in the historic period can be attributed to regulatory compliance, consumer demand, advancements in material science, technological integration, automotive industry growth, cost efficiency, and environmental concerns.
the automotive noise insulation parts market size is expected to see strong growth in the next few years. It will grow to $9.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. the growth in the forecast period can be attributed to electric vehicle expansion, advanced driver-assistance systems (ADAS), urbanization trends, global economic conditions, material innovations, supply chain optimization, and digital transformation. Major trends in the forecast period include smart insulation, biodegradable materials, 3D printing, augmented reality (AR) in design, predictive maintenance, energy efficiency, and innovative design.
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Market Drivers and Trends:
The rise in demand for electric vehicles is expected to propel the growth of the automotive noise insulation parts market going forward. Electric vehicles (EVs) refer to vehicles that are powered, either partially or fully, by electricity stored in batteries or other energy storage devices. The demand for electric vehicles is increasing due to environmental consciousness and advancements in battery technology. Electric vehicles integrate advanced noise insulation parts to enhance cabin comfort and reduce environmental impact, aligning with corporate sustainability goals and employee welfare during travel. For instance, in April 2024, according to a report published by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, electric car sales in 2023 surged by 3.5 million compared to 2022, marking a 35% year-on-year increase. Electric cars constituted approximately 18% of all vehicle sales in 2023, up from 14% in 2022. Therefore, a rise in demand for electric vehicles is driving the automotive noise insulation parts market.
Major automotive noise insulation parts market companies focus on developing advanced technologies, such as sound-damping material technologies, to enhance vehicle comfort and comply with stringent noise. Sound-damping material technologies refer to the methods and materials used to reduce noise and vibrations in various environments, particularly in automotive applications, by absorbing sound energy and minimizing noise transmission. For instance, in June 2022, Autoneum Holding AG, a Switzerland-based vehicle acoustic insulation product manufacturing company, expanded its range of polyethylene terephthalate (PET) and foam-based sound insulation technologies with Hybrid-Acoustics FLEX and Fit FLEX that cater specifically to electric vehicles (EVs). These advanced sound-damping solutions are available in Europe, North America, and China and enhance driving comfort by providing superior noise protection for electric drives. The technologies, characterized by high acoustic performance and zero waste production, are adaptable for various EV components, including e-motor encapsulations and noise reduction for inverters, gearboxes, pumps, and compressors.
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Major Key Players of the Market:
General Motors Company, BASF SE, Continental AG, 3M Company, Faurecia S.A., Lear Corporation, Illinois Tool Works Inc. (ITW), Parker Hannifin Corporation, Toyota Boshoku Corporation, Freudenberg Group, Teijin Limited, Nitto Denko Corporation, Grupo Antolin, Hutchinson S.A., Hyosung Corporation, Autoneum Holding Ltd., Morgan Advanced Materials plc, Kasai Kogyo Co Ltd , Recticel NV, NVH Korea Inc., Lydall Inc., Suminoe Textile Co. Ltd., UGN Automotive Inc., Motus Integrated Technologies, Haartz Corporation, Hayashi Telempu Corp, JBC Technologies Inc., Eagle Industries Inc.
Automotive Noise Insulation Parts Market 2024 Key Insights:
• The automotive noise insulation parts market size is expected to grow to$9.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Electric Vehicles Driving Growth In The Automotive Noise Insulation Parts Market
• Advancements In Fiber Based Noise Insulation Technologies
• Asia-Pacific was the largest region in the automotive noise insulation parts market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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