Automotive Heatshield Market Size By Vehicle (Passenger Cars, LCV, HCV), By Material (Aluminum, Stainless Steel, Aluminized Steel), By Application (Underbody Heatshield, Engine, Tank Heatshield, Catalytic Converter, Exhaust Manifold, Starter Motor, Turbo Charger), By Sales Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI4820  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 200   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Heatshield Market size valued at USD 2.3 billion in 2019 and is estimated to exhibit over 4% CAGR from 2020 to 2026. The rising automotive production along with increasing passenger cars adoptions in the emerging nations will drive the industry growth.

The demand for automotive heatshields is primarily driven by automotive production and the usage of lightweight materials in the manufacturing of heatshields helps in reducing the overall vehicle weight and improving fuel efficiency along the way. The development of product offerings from a standard fitment of the heatshield such as engine compartments into various other components such as exhaust systems, turbochargers, and other engine components will boost the market demand.

Automotive Heatshield Market

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Various manufacturers are focusing on product development that complies with the standards laid by the design & development of the components by the automotive manufactures. Strong competition among producers has impacted the price trend of the product. Industry participants are focusing on value addition coupled with developing heatshields that have low thermal conductivity, resistance to automotive fluids, outstanding product uniformity, and minimal off-gassing & consistency.

Automotive Heatshield Market Report Coverage
Report Coverage Details
Base Year:2019
Market Size in 2019:2,335.8 Million (USD)
Forecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:4.1%
2026 Value Projection:2,769.8 Million (USD)
Historical Data for:2016 to 2019
No. of Pages:200
Tables, Charts & Figures:308
Segments covered:Material, Vehicle, Application, Sales Channel, and Region
Growth Drivers:
  • Increasing focus on light-weighting and fuel efficiency products
  • Growth in passenger vehicle sales
  • Increasing automotive production & presence of auto players
Pitfalls & Challenges:
  • Increasing adoption of the EV likely to curb the market
  • Prohibitive cost

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Increasing adoption of EVs is likely to curb the industry proliferation

The rising penetration of electric vehicles across the globe will significantly impact the automotive heatshield market expansion. The high adoption of electric vehicles (EVs) can be credited to governmental initiatives and support to enhance the environmental quality to overcome dependence on conventional fuel.

Many automotive manufacturers are shifting toward electric propulsion systems rather than enhancing conventional engines to comply with emission standards. The shift will result in restraining demand for automotive heatshields as electric vehicles require less thermal management as compared to IC engine vehicles.

Growing passenger vehicle sale to spur heatshield demand

Passenger cars segment is poised to generate more than USD 1.5 billion revenue by 2026 owing to increasing adoption and demand from aftermarket sector. Growing average annual vehicle miles travelled across the globe is generating the demand for product replacement. In 2019, U.S. Department of Transportation announced that annual vehicle miles rose to 740 billion vehicle miles with an increase of over 3.5 billion vehicle miles as compare to 2018.

The increased use of vans and pickup vehicles will lead to a greater demand for lightweight automotive heatshields, that are commonly used in other underhood components such as high-temperature hoses. The product prevents radiator hoses from bursting and other vital automotive components from premature failure due to intense heat generated by the vehicle.

High heat generation from engines to escalate segment penetration

The automotive heatshield market from engine applications is projected to register around 4% growth rate during 2020-2026 on account of high heat generation. The most significant functions of heatshields in automotive vehicles are to protect delicate vehicle components from heat generated by the engine and to provide optimal temperature inside the cabin.

These products are custom designed to effectively manage radiant, convective, and conductive heat from the front or back of a vehicle. With increasing technological innovations in the automobile industry, the number of heatshields per car has considerably increased manifolds.

OEM segment to hold a majority market share

Automotive Heatshield Market Size

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In 2019, the OEM end use segment held above 75% automotive heatshield market share. The increasing automotive production to meet the rising demand is boosting the segment growth. By 2030, as per the Green Mobility Report by the World Bank, there may be an additional 1.2 billion cars on the road. This demand represents an opportunity for the players to capitalize on advanced technologies to enhance fuel efficiency. These vehicles will also create a development opportunity for automotive heatshield manufacturers.

Superior properties to drive aluminized steel penetration

Automotive Heatshield Market Share

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Aluminized steel material segment is expected to expand at around 3.5% CAGR through 2026. propelled by superior material properties including, high temperature resistance and low coefficient of thermal expansion. The material is gaining recognition in the industry as it combines the advantages of both steel and aluminum. It combines the strength of steel and corrosion resistance of aluminum. Moreover, superior formability will induce significant growth potential in the industry landscape.

The aluminum segment size exceeded USD 905 million in 2019 driven by the increasing adoption of lightweight products in vehicles. The engine economizing strategies and the proliferation of turbocharging in the vehicle have created substantial opportunities for aluminum material products.

Asia Pacific to hold major share on the back of presence of prominent industry players

 Automotive Heatshield Market Regional Insights

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The Asia Pacific automotive heatshield market led by China will observe growth of over 4.5% during the forecast period. China is the world’s largest automobile manufacturing market since 2009. In 2019, according to the OICA, China alone held nearly 25% of the global automotive production. Furthermore, in China, the auto industry witnessed a rapid growth rate with production and sales both hitting new records in 2018.

The increasing middle-class population along with rising purchasing power across the region will result in fueling the demand for passenger cars. The increasing competitiveness owing to the presence of large-scale players will positively influence the regional market growth.

The automotive heatshield industry to be highly fragmented

The automotive heatshield market is highly competitive with the presence of multiple small & large market participants across the globe. Industry players are engaged in partnerships with OEMs to gain a competitive edge over other companies. Technological advancements are likely to have a huge impact on industry development.

Some of the major manufacturers of the industry are Dana Limited, DuPont., Frenzelit, Autoneum Holding AG, Morgan Advanced Material, and Elringklinger AG, among others. The key strategies adopted by these manufacturers are production capacity expansion, collaboration with automotive manufactures, and new product development.

This market research report on automotive heatshield includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD million from 2016 to 2026 for the following segments

Market, by Vehicle Type

  • Passenger Cars
  • LCV
  • HCV

Market, by Material Type

  • Aluminum
  • Stainless Steel
  • Aluminized Steel

Market, by Application

  • Underbody Heatshield
  • Engine
  • Tank Heatshield
  • Catalytic Converter
  • Exhaust Manifold
  • Starter Motor
  • Turbo Charger
  • Others

Market, by Sales Channel

  • OEM
  • Aftermarket

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K
    • Russia
    • Poland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
  • Latin America
    • Mexico
    • Argentina
    • Brazil
  • Middle East & Africa
    • Turkey
    • South Africa
    • Iran


Frequently Asked Questions (FAQ) :

In 2019, the global automotive heatshield market size was worth USD 2.3 billion, and may depict 4% CAGR through 2026, owing to increasing automobile production.
The global automotive heatshield demand from passenger cars segment may cross USD 1.5 billion by 2026 on account of rising product adoption from aftermarket sector.
The automotive heatshield market share from engine applications may record 4% CAGR through 2026, primarily subject to high heat generation.
In 2019, OEMs held 75% of total market share and may depict appreciable growth owing to rising automobile production.
Aluminized steel material segment may exhibit 3.5% CAGR through 2026, driven by its superior properties such as low coefficient of thermal expansion and high temperature resistance.
The Asia Pacific automotive heatshield market share may exhibit 4.5% CAGR through 2026, led mainly by China, which is the world’s largest automobile manufacturing market.

Premium Report Details

  • Published Date: Sep 2020
  • Pages: 200
  • Tables: 286
  • Charts / Figures: 22
  • Companies covered: 14
  • Countries covered: 20

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