Automotive NVH Materials Market Segmentation:
Vehicle Type
The global automotive NVH materials market is segmented and analyzed for demand and supply by vehicle type into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. Out of these segments, the passenger cars segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing sale, coupled with the surging production of passenger cars across the globe. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2021, 49 million new passenger cars were sold and 57 million passenger cars were produced throughout the world. Moreover, rising living standards in emerging nations, along with rapid urbanization is another significant factor that is projected to propel the market growth throughout the forecast period.
Application
The global automotive NVH materials market is also segmented and analyzed for demand and supply by application into absorption, insulation, and damping. Amongst these three segments, the absorption segment is expected to garner a significant share on the back of increasing utilization of acoustic absorption materials in the production of vehicles to minimize the transmission of noise. On the other hand, the insulation segment is projected to witness a notable growth rate during the forecast period, owing to the rising demand for insulation in NVH solutions.
Our in-depth analysis of the global market includes the following segments:
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