Automotive Heatshield Market size is expected to exceed USD 2.5 billion by 2026, according to a new research report published by the Global Market Insights Inc.
Growing need to protect sensitive parts and modules of a vehicle from heat soak is slated to boost automotive heatshield industry demand. The increasing adoption of powerful engines, catalytic converters and an increased trend toward closed engine compartments to reduce noise & emissions are strongly contributing to the use of automotive heatshields in vehicles.
The industry players are focusing on the development of lightweight and high-performance heatshield solutions thereby improving fuel efficiency and lowering air intake temperature. The automotive heatshield market is set to witness a moderate growth during 2020 to 2026, owing to the declining automotive production.
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Growing focus on lightweight and fuel efficiency standards
The increasing focus of regional authorities to reduce carbon emissions from vehicles has led automotive manufacturers to use lightweight automotive components to improve the overall fuel efficiency of the vehicle.
Browse key industry insights spread across 200 pages with 286 market data tables & 22 figures & charts from the report, “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”, in detail along with the table of contents:
LCV segment is poised to grow at over 3.5% CAGR up to 2026 driven by countries that have major vehicle production hubs including China, Germany, and India, among others. Superior demand for vans and utility trucks along with the development of safety norms for these vehicles will improve product penetration. With the increasing penetration of the catalytic converters, turbochargers will further augment market revenue.
Aluminum segment to bank upon superior heat absorption capability
The automotive heatshield market from aluminum segment is estimated to expand at around 3% CAGR in volume till 2026. Due to high thermal conductivity, aluminum provides quick absorption of heat from potential hot spots in a heatshield. Additionally, the product has a high specific heat capacity, that offers heatshield to obtain lower temperatures even after absorbing a given amount of heat compared to many other materials.
North America is predicted to account for around 15% of the market share majorly attributed to higher automotive production and vehicle fleet in the U.S. Development of strong distribution channel that offers products via an online platform is another factor enhancing product visibility in the region.
Some of the manufacturers in the automotive heatshield market are Dana Limited, DuPont., Frenzelit, Autoneum Holding AG, Morgan Advanced Material, and Elringklinger AG, among others.