The “Global OEM Insulation Market by Material Type (Mineral Wool, Polyurethane Foam, Flexible Elastomeric Foam, Other Insulations), End Use (Building & Construction, Industrial, Transportation, Consumer), & Region – Forecast to 2026” report has been added.
The global OEM insulation market size is projected to grow from USD 31.0 billion in 2021 to USD 40.8 billion by 2026, at a CAGR of 5.6% between 2021 and 2026.
The OME insulation market is expected to grow at a moderate growth rate owing to factors such as increasing focus on technical advancement of HVAC equipment in the construction sector, a large number of public transport vehicles adopting air-conditioned technology globally and regionally, and COVID-19 vaccination drive driving the growth of OEM insulation materials in the refrigeration industry. However, factors such as the unorganized OEM insulation market in Asia Pacific countries disrupting the value chain, stringent environmental regulations related to the manufacturing of PUF are hindering the growth of OEM insulation market.
PUF-based OEM insulation is projected to witness the highest CAGR during the forecast period
PUF-based OEM insulation market is projected to witness the highest growth during the forecast period. The growth in this segment is attributed to its properties such as low density, resilience and low thermal conductivity which are highly desirable in cold storage, refrigeration, and transportation industries.
The transportation segment projected to lead the OEM insulation market from 2021 to 2026
The transportation segment is the largest and fastest-growing OEM insulation market by end-use. Mass transit riders, office workers, students are among those who spend a significant amount of time in public transit to and from various daily activities, and hence it becomes very crucial to maintain the indoor air quality in public transport vehicles. This has led to increasing in demand for air-conditioned commercial vehicles, personal cars, metros and trains which further increases the demand for OEM insulation market. Countries such as the US, China, Germany, India, Japan, and South Korea are also promoting electric vehicles which acts a driver for the OEM insulation market in the transportation sector.
Europe projected to account for the maximum share of the global OEM insulation market during the forecast period
Europe is projected to lead the global OEM insulation market from 2021 to 2026. Europe is the world’s leading consumer as well as producer of OEM insulation. The market in the region is driven by the presence of stringent regulations concerning energy conservation and increasing income levels. France has the largest share in the European OEM insulation market due to a strong industrial sector.
This article was shared with Prittle Prattle News as a Press Release.
