According to Market Research Future (MRFR), The global Heat shield market is expected to expand with a CAGR of 8.6% from 2018 to 2023 (forecast period). The report includes a COVID-19 analysis of the global heat shield market. It offers a detailed overview of market segments, emerging trends, growth, market forecasts, and challenges for evaluating current market opportunities. The heat shield in the automotive sector is used to combat the excessive heat produced by the internal combustion engine. heat shields are most widely used to cover the engine body to protect the components and body frame from heat damage.
The heat shield reduces the temperature of the bonnet by reducing the intake temperature. The heat shield has a wide range of sizes and is simple to install on components. Aluminum is the principal raw material used for heat shield due to its advanced features.
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Competitive landscape
The major key players in the Automotive Heatshield market are
- Lydall Inc. (U.S.)
- Progress-WerkOberkirch AG (Germany)
- UGN Inc. (U.S.)
- Morgan Advanced Materials (U.K.),
- Dana Holding Corporation (U.S.)
- Federal-Mogul Holding Corporation (U.S.),
- Autoneum Holdings AG (Switzerland),
- Zircotec (U.K.)
- ThermoTec Automotive (U.S.)
- Elringklinger AG (Germany)
Market Dynamics
Increased sales of automobiles, growth in advanced technologies, and safety concerns regarding vehicle heat are expected to drive growth in terms of value and volume. Government standards for the component structure will accelerate the growth of the heat shield for automotive. Modern or next-generation vehicles are more sophisticated and lightweight due to the use of advanced technologies. Substantial investment in research and development for improved materials is expected to create opportunities for new players in the market. In addition, advanced materials at low cost for heat shield will fuel the industry's further growth and create possibilities to generate revenue for the industry.
Nevertheless, constant fluctuations in the price of raw materials will slow down the growth of the industry. Competitive product pricing will impede the generation of revenue on the market and limit manufacturers to further innovation and new technology development.
Market Segmentation
The global market for heat shield has been segmented on the basis of type, material, solution, vehicle type, and region.
Based on type, the global market for heat shield has been segmented into exhaust header wrap, turbo heat shields, thermal heat shield sleeving, heat shield, and thermal barriers, spark plug boot heat shields, and exhaust heat shield insulation.
Based on material, the global market for heat shield has been segmented into metallic and non-metallic.
Based on the solution, the global market for heat shield has been segmented into rigid, flexible, shell, and integrated.
Based on vehicle type, the global market for heat shield has been segmented into heavy commercial vehicles, passenger cars, and light commercial vehicles.
Regional Analysis
Geographically, the global market for Heat shield has been segmented into four major regions of North America, Asia Pacific, Europe, and the Rest of the World.
The Asia Pacific will hold significant market share in terms of value and volume due to infrastructure development, increased vehicle sales, and governmental policies on vehicle safety devices. The Asia Pacific will have the highest growth rate in the projected period, followed by North America and Europe.
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