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Automotive Heat Shield Market: By Product Type (Single Shell, Double Shell, Sandwich), By Material Type (Metallic, Non-Metallic), By Vehicle Type (Passenger Car, LCV, HCV), By Application (Exhaust System, Turbocharger, Under Bonnet, Engine Compartment, Under Chassis), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[170+ Pages Research Report] Automotive Heat Shield Market to surpass USD 24.0 billion by 2032 from USD 13.3 billion in 2021 at a CAGR of 5.5% throughout the forecast period 2022-32
Automotive Heat Shield is a thermal fence that is specially designed to defend stuffs from overheating. They are frequently employed in the automotive industry to isolate the engine block to stop heat damage to the bodywork and internal parts. They can also boost the performance by lowering intake air temperature (IAT), which is essential for optimum engine efficiency. The two basic types of automobiles include fixed or stiff components and flexible components. A stiff heat shield might be constructed from solid steel, although an aluminum sheet is much preferred due to the added weight and accompanying performance loss. Aluminum is another material used in flexible heat shields since it is lighter and more conformable.
Automotive Heat Shield Market to surpass USD 24.0 billion by 2032 from USD 13.3 billion in 2021 at a CAGR of 5.5% in the coming years, i.e., 2022-32. The Automotive Heat Shield Market is projected to expand due to the developing automotive industry and the increased acceptance of electronics in vehicles. Moreover, the growing demand for luxury cars is expected to positively impact the growth of the global market during the forecast period.
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Automotive Heat Shield Market is categorized on the basis of Product Type into Single Shell, Double Shell, and Sandwich. Over the projected period, the Double Shell segment is anticipated to witness significant growth. These goods are made to withstand low to moderate temperatures and are incredibly lightweight. It is mostly used to manage heat in the vehicle's turbochargers, catalytic converters, and starter motors. To help regulate the overall temperature of the entire engine assembly and maintain optimal vehicle performance, these products are used more frequently in under-bonnet heat management applications.
Automotive Heat Shield Market is categorized on the basis of Application into Exhaust System, Turbocharger, Under Bonnet, Engine Compartment, and Under Chassis. Over the projected period, the turbocharger application segment is anticipated to grow with a remarkable CAGR. Over the projected period, the segment's growth will be significantly aided by the expanding use of turbochargers in a variety of vehicle types, including passenger cars, heavy commercial vehicles, and light commercial vehicles.
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Heat shields are lightweight and therefore they majorly lighten vehicles and improve their fuel economy. Heat shield manufacturers are concentrating on producing lightweight and effective heat shield solutions as major OEMs use lighter-weighting techniques to meet strict fuel efficiency criteria. As OEMs plan more fuel-efficient vehicles, heat shield manufacturers are releasing a growing number of innovations. The demand for superior heat shields in upcoming vehicles will therefore be driven by the increasing focus on lightweight and fuel efficiency standards, which will impact the growth of the Automotive Heat Shield Market.
The Automotive Heat Shield Market is also being driven by the rising demand for premium cars and the progresses in the automotive industry. In order to defend them from excessive heat generation, cars use heat shields. In addition, the rising popularity of electric vehicles will increase demand for heat shields. The government's initiative and the escalating environmental worries are responsible for the increased adoption of electric automobiles. Instead of enhancing traditional engines, several automakers are concentrating on manufacturing electric vehicles. This change will fuel market trends for automotive heat shields.
Instead of modifying ICE vehicles to meet the standards, OEMs are refocusing their efforts and investing in electric propulsion. Although heat shield makers might benefit financially from the sale of electric vehicles, thermal management is not as emphasized in EVs as it is in ICE vehicles. Existing heat shields created for ICE are not as effective. Due to this, heat shield producers must spend significant resources to design and develop heat shield solutions for EVs. Therefore, the need for heat shields throughout the anticipated period would be reduced by government restrictions on ICE cars and the encouragement of alternate propulsion.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Automotive Heat Shield Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In 2020, the Asia Pacific Automotive Heat Shield Market held a sizable portion of the market. A foundation for future growth in the area has been established through the adoption of new technologies, the construction of additional manufacturing facilities, and the development of value-added supply chains between manufacturers and resource suppliers.
The rising use of advanced electronics in Japan, India, South Korea, and China is expected to provide the area with a higher share during the projected period. The governments of these nations have taken various actions to entice major OEMs to enter their domestic markets due to well-awareness of the automotive industry's growth potential. Due to this, the volume of vehicles produced has increased over time, satisfying both domestic and international demand.
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The Automotive Heat Shield Market suffered due to the entry of COVID-19. Since March 2020, major OEMs halted vehicle production due to the outbreak's growing severity. Owing to the widespread restrictions and lockdowns, auto sales swiftly fell. Also epidemic forced major OEMs to delay the development of cutting-edge vehicle technology. Despite OEMs starting up vehicle production again in nations like China and Japan, there the market for new cars right after the lockdown was also affected.
Automotive Heat Shield Market Report Scope and Segmentation
REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 13.3 billion |
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Revenue Forecast in 2032 |
USD 24.0 billion |
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Growth Rate |
CAGR of 5.5% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Product Type, Material Type, Vehicle Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled
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Dana Incorporated, DuPont, Tenneco Inc., ElringKlinger AG, Morgan Advanced Materials, Lydall Inc., Carcoustics, UGN Inc., Autoneum, ACS Industries Inc., HAPPICH GmbH, Datsons Engineering Works Private Limited, TKG Automotive, Zircotec, ThermoTec Automotive, and Other Prominent Players. |
The Automotive Heat Shield Market size was estimated at USD 13.3 billion in 2021 and is expected to reach USD 24.0 billion in 2032.
An Automotive Heat Shield is a thermal fence that is specially designed to defend stuffs from overheating. They are frequently employed in the automotive industry to isolate the engine block to stop heat damage to the bodywork and internal parts.
The Double Shell and Turbocharger segments accounted for the larger share of the Automotive Heat Shield Market.
Key players in the Automotive Heat Shield Market are Dana Incorporated, DuPont, Tenneco Inc., ElringKlinger AG, Morgan Advanced Materials, Lydall Inc., Carcoustics, UGN Inc., Autoneum, ACS Industries Inc., HAPPICH GmbH, Datsons Engineering Works Private Limited, TKG Automotive, Zircotec, ThermoTec Automotive, and Other Prominent Players.
The Automotive Heat Shield Market is projected to expand due to the developing automotive industry and the increased acceptance of electronics in vehicles.
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