Published October 3, 2023
IMARC Group, a leading market research company, has recently releases report titled “Automotive Heat Shield Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global automotive heat shield market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the automotive heat shield market?
The global automotive heat shield market size reached US$ 11.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.
What is automotive heat shield?
An automotive heat shield is a specifically engineered solution designed to protect vehicles from excessive heat emitted by engine and exhaust systems. It is a vital component, crafted from high-grade metals or composites, that ensures heat-sensitive components within the vehicle are safeguarded from the extreme heat generated during vehicle operation. The heat shield acts as a thermal barrier, reflecting and dispersing heat away from key areas, thereby optimizing performance and reducing potential damage caused by heat stress. These components are essential in preserving the longevity and efficiency of engines, transmissions, exhaust systems, and electronic modules. They are widely utilized in various vehicles, from passenger and commercial vehicles to heavy-duty and off-road vehicles. In addition to its protective role, the heat shield can reduce noise and vibration within the vehicle, enhancing the overall driving experience. As a result, the automotive heat shield finds extensive applications in modern automobiles.
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What are the growth prospects and trends in the automotive heat shield industry?
The global automotive heat shield market is primarily driven by the heightened demand for more fuel-efficient vehicles. The effective application of heat shields can reduce thermal loss, thereby improving overall fuel efficiency and reducing emissions, which is a crucial factor in an era of growing environmental consciousness and stricter emission regulations worldwide. Moreover, the steady rise in vehicle production and advancements in heat shield technologies are contributing to the expansion of the market. Besides this, rapid urbanization, inflating consumer disposable incomes, and escalating demand for luxury and electric vehicles (EVs), which require superior heat management systems, are other major growth-inducing factors. Additionally, the advent of lightweight, high-performance materials for heat shields is paving the way for product innovation, which in turn is creating new opportunities within the market. In line with this, a surge in research and development (R&D) efforts toward material innovation by key players is anticipated to propel market growth in the near future. Furthermore, as modern vehicles are becoming increasingly complex and integrated with sensitive electronics, the escalating emphasis on vehicular safety has strengthened the need for advanced heat shielding to prevent heat-induced malfunctions or damage. Along with this, the intensifying competition among automakers to enhance vehicle performance has accelerated the use of heat shields to provide a critical edge by enabling engines to operate at optimal temperatures, thus ensuring maximum performance and efficiency. Other factors, including rapid expansion in the automobile sector, advancements in manufacturing and material technologies, and the rise in automotive aftermarket activities, are also fueling market growth.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Material:
Breakup by Product:
- Single Shell
- Double Shell
- Sandwich Type
Breakup by Application:
- Exhaust System
- Under Bonnet
- Engine Compartment
- Under Chassis
Breakup by Vehicle Type:
- Passenger Car
- Commercial Vehicles
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Carcoustics (Liaoning Dare Industrial Company Ltd.)
- Dana Incorporated
- DuPont de Nemours Inc
- ElringKlinger AG
- HAPPICH GmbH (Pelzer Acoustic Products GmbH)
- Lydall Inc.
- Morgan Advanced Materials Plc
- NICHIAS Corporation
- Talbros Automotive Components Ltd.
- Tenneco Inc.
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