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Nov 17, 2020 (Market Insight Reports) —
Factors influencing automotive NVH materials market trends over 2020-2026
Growing automotive consumer expectations in terms of handling, ride and comfort of a vehicle is poised to drive global automotive NVH materials market outlook. NVH denotes the noise, vibration & harshness aspects of a vehicle, which are generated by electrical and mechanical systems by the vehicle contact with road surfaces. In the current times, comfort plays key role in a consumer’s vehicle buying decision and this prompting vehicle manufacturers to continuously improve NVH performance in automobiles.
Rubber, polyurethane, polypropylene, polyvinyl chloride and polyamide are some of the commonly used materials for enhancing NVH performance. Polypropylene material is witnessing major adoption rate due to its less weight, low costs as well as durability features.
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Growing utilization of materials offering both dampening and lightweight properties is likely to favor NVH materials adoption over the coming years. Reports suggest that automotive NHV materials market size will exceed USD 13 billion in terms of remunerations by 2026, worldwide.
Demand for rubber material
Rubber is an ideal NVH material due to its excellent physical properties of weather and heat resistance, high density along with vibration absorbing properties. Apart from these, rubber offers superior dampening and processing characteristics.
The demand for automotive NVH components will continue to grow due to increased demand for safe and comfortable vehicles and associated increase in premium automobile production, primarily in emerging economies. Rubber material is expected to lead the market, holding 32% of the global share over 2020-2026.
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Consistent demand for LCVs
Rapid urbanization and demographic changes have led to expansion of retail and e-commerce platforms which require efficient logistics. This in turn has fueled leading the expansion of light commercial vehicle fleets.
Ashok Leyland has claimed that LCVs account for 75% of commercial vehicles sales, globally. Light commercial vehicles segment is estimated to generate a revenue of more than USD 2.9 billion by 2026 for global automotive NVH materials industry, owing to the rising demand for transportation of goods.
Regulations on vehicle noise in Europe
Europe automotive NVH materials market is also to be driven by stringent regulatory framework established by authorities to minimize the excessive noise of vehicle. In 2014, the European Commission proposed to reduce the noise produced by light commercial vehicles, passenger cars, buses, coaches, trucks and light trucks. The adoption of new regulation was aimed at reducing vehicle noise by around 25%.
In light of the matter, automakers are advised to implement compulsory measures during production of vehicles to minimize noise. In addition, vehicle manufacturers are implementing innovative technology such as NVH testing in a bid to improve the NVH performance. This will certainly boost the consumption of automotive NVH materials in the coming years.
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Chapter 1. Methodology & Scope
1.1. Market definitions