As per the report, automotive heat shield market was valued at 2.3 billion in 2019 and is likely to reach 2.5 billion by the end of 2026, growing at an expected CAGR of 4% through 2026. In addition to this, the study also encompasses crucial information on the current market scenario, evolving technologies, widespread competitive landscape, growth prospects, industry tactics, and vivid market segmentations.
Globally, automotive heat shield market has garnered considerable momentum. With growing demand for lightweight and energy-efficient vehicles, automakers are constantly improving their designs to develop more compact engine components and systems. However, these design improvements have created a need for reliable high-temperature insulation products that can dissipate heat faster and provide superior heat shielding.
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To keep pace with this demand, many carmakers are designing products that are engineered to meet application as well as specification requirements. The product demand can be mainly attributed to the need for lightweight automotive components and reliable thermal insulation products in order to maximize fuel efficiency.
The growing popularity of electric cars and autonomous vehicles is likely to provide automotive heat shield manufacturers with lucrative opportunities in the forthcoming years. Many of these manufacturers are focusing on implementing forward integration throughout the entire value chain, right from automotive design to final assemble and installation, since aftersales is a proven strategy to gain customer trust.
Automotive heat shield sales through automotive aftermarket distribution channel is estimated to grow at a 4% CAGR through 2026. Heat shields can help improve thermal management efficiency by up to 70 percent. They have a moderate replacement rate due to excessive heat generated in vehicles. The aftermarket industry is highly dependent on product quality in terms of reliability, stability, and efficiency, and consumer preference towards low-cost solutions. These trends are expected to positively influence automotive heat shield market outlook over the next few years.
In terms of the regional outlook, Europe accounted for more than 25% revenue share of global automotive heat shield market in 2019. Germany, Russia, and Spain have observed a substantial rise in domestic automotive production over the past few years. The region is home to some of the world’s top automakers and automotive OEMs who are focusing on integration of advanced technologies such as compact engine components and turbochargers into vehicles.
DuPont, Dana Limited, Autoneum Holding AG, Lydall Inc, Morgan Advanced Material, Tenneco, AK Steel Corporation, HKO Group, Persico S.p.a., Zircotec, Elringklinger AG, Estamp Int, Frenzelit, and RGBSI are a few prominent names in the industry. These companies are actively investing in new product development and expansion of production facilities to cater to the surging product demand and expand their market presence.
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Some Point from Table of Contents:
Chapter 4. Automotive Heat shield Market, By Vehicle Type
4.1. Global automotive heat shield market insights, by vehicle type
4.2. Passenger Cars
4.2.1. Global market estimates and forecasts, 2016 - 2026
4.2.2. Market estimates and forecast, by region, 2016 - 2026
4.3.1. Global market estimates and forecasts, 2016 - 2026
4.3.2. Market estimates and forecast, by region, 2016 – 2026
4.4.1. Global market estimates and forecasts, 2016 - 2026
4.4.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 5. Automotive Heat shield Market, By Material Type
5.1. Global automotive heat shield market insights, by material type
5.2.1. Global market estimates and forecasts, 2016 - 2026
5.2.2. Market estimates and forecast, by region, 2016 - 2026
5.3. Stainless steel
5.3.1. Global market estimates and forecasts, 2016 – 2026
5.3.2. Market estimates and forecast, by region, 2016 – 2026
5.4. Aluminized steel
5.4.1. Global market estimates and forecasts, 2016 – 2026
5.4.2. Market estimates and forecast, by region, 2016 - 2026
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