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Automotive Heat Shield Market Size
- Report ID: GMI4820
- Published Date: Sep 2020
- Report Format: PDF
Automotive Heat Shield Market Size
Automotive Heat Shield Market size exceeded 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 industry growth.
The demand for automotive heatshields is primarily fueled 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 is likely to foster the automotive heat shield market demand.
| Report Attribute | Details |
|---|---|
| Base Year: | 2019 |
| Automotive Heat Shield 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: |
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| Pitfalls & Challenges: |
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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 companies. Strong competition among producers has impacted the market price trend. Industry participants are focusing on value addition in the product coupled with developing heatshields that have low thermal conductivity, resistance to automotive fluids, outstanding product uniformity, and minimal off-gassing & consistency.
Increasing adoption of EVs to curb the industry proliferation
The rising penetration of electric vehicles globally is significantly impacting the automotive heat shield market expansion. The high acceptance of electric vehicles 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.
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Automotive Heat Shield Market Scope
