The Global Automotive Heat Shield Market was worth US$ 12.53 billion in 2022 and is anticipated to reach a valuation of US$ 14.84 billion by 2028 and is predicted to register a CAGR of 3.44% during 2023-2028.
An automotive heat shield, as the name suggests, is meant to protect a substance from absorbing excessive heat from an outside source by dissipating, reflecting or just absorbing the warmth. It's often used as a sort of exhaust heat management. Thanks to large amounts of warmth given by combustion engines, heat shields are used on most engines to guard components and bodywork against heat damage. Even in protection, effective heat shields can provide performance benefits by reducing the under-bonnet temperatures and the intake temperature. The elements of a vehicle that develops high temperatures require proper heat shielding solutions. The sophistically designed shielding solutions to assist vehicles in line with an increase in the capacity of vehicles' combustion engines generate an outsized amount of warmth which will damage the vehicles' other components and bodywork.
The global automotive heat shield market is primarily driven by the rising demand for fuel-efficient vehicles, increased vehicle production, growing safety concerns, and the high adoption rate of advanced electrical and electronic components in cars.
Market Drivers:
The automotive heat shield market is mostly hooked into vehicle production. Despite the increasing popularity of EVs, the assembly of ICE vehicles has increased to bridge the demand and provide a gap. Hybrid and plug-in hybrids, which are fuel-efficient vehicles, have also gained popularity. The increasing production of HEV, PHEV, and ICE vehicles is predicted to trigger the expansion of the global automotive heat shield market. Vehicle production is growing across the world due to several factors, like the growing demand for passenger cars, an increase in purchasing power, and capacity expansion by OEMs, particularly in emerging economies.
Market Restraints:
The key restraint for the market is that the replacement part is overpriced, and therefore the exhaust has got to be possibly removed to suit the new protective covering. The aftermarket prices for the automotive heat shields are 1.5 times more than the OEM prices of an equivalent. Although it's recommended to vary the warmth shields every 100,000 to 150,000 kilometers, many car owners don't generally like to replace the old one with a replacement protective covering, due to the worth or lack of awareness.
Market Recent Developments:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 – 2028 |
Base Year |
2022 |
Forecast Period |
2023 - 2028 |
CAGR |
3.44% |
Segments Covered |
By Shielding Type, Material Type, Heat Application, EMI Application, Vehicle Type, Electric Vehicle Type, and Region. |
Various Analyses Covered |
Global, Regional and country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Laird (UK), ElringKlinger (Germany), Federal-Mogul (US), Morgan Advanced Materials (UK), Dana (US), Henkel (Germany), Kitagawa (Japan), and Schaffner (Switzerland), and Others. |
Market Segmentation:
The application segment of the worldwide automotive heat shield market has witnessed significant growth, which may be attributed to the sales of high-performance cars, both within the OEM & aftermarket segments. High speed and raw power define the performance of those cars, which is why these automobiles require effective protective covering solutions for ensuring safety. Increasing strength and speed increase the warmth generated by crucial components like engine parts and therefore, the exhaust. Automotive heat shields play an essential role in preventing heat generation within the inside of the vehicle, thereby ensuring driver safety and enhancing vehicle performance. Luxury and sports models are equipped with efficient and high-quality heat shields to make sure advanced temperature control with less space utilization and enhanced safety and sturdiness of components.
The passenger car segment is estimated to carry the most crucial share of the automotive heat shield market, by vehicle type, during the forecast period. The expansion of the sector is often attributed to high vehicle production of passenger cars, rising demand for fuel-efficient vehicles, increasingly stringent emission norms, and increased use of advanced technologies and electronic components. High demand for private mobility, increasing per capita income, and improved lifestyle, are driving the sales of passenger cars. Also, the adoption of advanced technologies continues to be high for passenger cars as compared to commercial vehicles.
The growth and success of BEVs are hooked into innovations within battery technology. Thus, many automotive players are taking the initiative to develop battery technology. Tesla announced its plans to supply a complete 35 GWh battery capacity, annually, at its Gigafactory in Nevada, US. Hence, developments and innovations within the field of battery technology are expected to spice up the marketplace for automotive heat shielding in BEVs.
Market Reginal Analysis:
The Global Automotive Heat Shield Market Report includes the segmentation of regions:
The Asia Pacific heat shield market is estimated to be the fastest-growing in the international marketplace. The market growth within the region is often attributed to the increased vehicle production, growing automotive safety concerns, and the high demand for luxury vehicles in Japan, India, China, and South Korea. Also, the assembly expansions made by automobile manufacturers to satisfy the rising consumer demand globally, increasing use of advanced electronics, and growing demand for fuel-efficient vehicles are likely to spice up the automotive heat shield market within the region.
Market Key Players:
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