Global Automotive Heat Shield Market Size, Share, Forecast Report, 2020-2027
Heat shield in automotive is used to counter excessive heat that is generated from the internal combustion engine. Automotive heat shields are most often used to cover the engine body to protect components and body frame from heat damage. Heat shield reduces the under bonnet temperatures by reducing the intake temperature. The automotive heat shield is varied widely in sizes and easy to mount on components. Aluminum is the key raw material used for heat shield because of its advanced features.
The global automotive heat shield market has seen remarkable growth; expected to expand with the CAGR of ~8.6%. Increase in sales of automobiles, growth in advanced technologies, and safety concern regarding the heat from the vehicle are expected to fuel the growth of the market in terms of value and volume. Government standards for the component structure will enhance the growth of heat shield for automotive. Modern or next-generation vehicles are more advanced and lightweight because of use of advanced technologies. Heavy investment in research and development for better materials are expected to create opportunities for new players in the market. Moreover, advanced materials at low cost for heat shield will boost the further growth of the market and create opportunities to generate revenue for the market. However, continuous fluctuation in the price of the raw material will slow down the growth of the market. Competitive product pricing will hamper the revenue generation in the market and restrain the manufacturers for further innovation and development of new technology.
Global automotive heat shield market is segmented on the basis of type, material, solution, vehicle type, and region. On the basis of type, the market has been segmented into exhaust & header wrap, thermal & heat shield sleeving, turbo heat shields, exhaust heat shield insulation, heat shield and thermal barriers, and spark plug boot heat shields. On the basis of material, the market has been segmented into metallic and non-metallic. On the basis of solution, the market has been segmented into rigid, flexible, shell, and integrated. On the basis of vehicle type, the market has been segmented into light commercial vehicles, passenger cars, and heavy commercial vehicles.
Geographically, the global automotive heat shield market has been divided into four major regions of North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific will hold the largest market share in terms of value and volume owing to development in infrastructure, increased vehicle sales, and government regulations regarding safety devices in the vehicles. Asia Pacific will have the highest growth rate during the forecast period followed by North America and Europe.
The prominent players in the automotive heat shield market include Federal-Mogul LLC (U.S.), Dana Limited (U.S.), Autoneum (Switzerland), ElringKlinger AG (Germany), Lydall, Inc. (U.S.), UGN, Inc. (U.S.), and HAPPICH GmbH (Germany). Progress-Werk Oberkirch AG (Germany), Morgan Advanced Materials (U.K), Heatshield Products, Inc. (U.S.) are among others.