Automotive Heat Shield Market Size, Share and Segmentation by Product (Single Shell, Double Shell, Sandwich), by Application (Exhaust System, Turbocharger, Under Bonnet, Engine Compartment, Under Chassis), by Material (Metallic, Non-Metallic), by Regions and Global Market Forecast 2023-2030
Report Id: SNS/AUTO/2303 | July 2022 | Region: Global | 130 Pages
Report Scope & Overview:
Automotive Heat Shield Market Size was valued at USD 12.53 billion in 2022 and is expected to reach USD 16.49 billion by 2030 and grow at a CAGR of 3.5% over the forecast period 2023-2030.
Heat shields are utilized in electronic devices in order to protect the components of the device from the heat that is created by the device's core. Heat shields have a widespread application in a variety of contexts, including the automotive industry, several electrical devices, and other areas. The expansion of the market for automotive heat shields is anticipated to be driven by factors such as the growing production and demand for fuel-efficient automobiles, electric vehicles, and commercial vehicles. Heatshield plays an essential function in regulating the excessive heat that is produced by the vehicle, safeguarding the vulnerable components of the vehicle, and improving the engine's performance by ensuring that the temperature under the hood is maintained at an appropriate level.
The heat shields are fabricated in accordance with the various contours and dimensions of the component, which in turn are determined by the various makes and models of automobiles. The engine generates a significant amount of heat and must operate at a particular temperature in order to achieve the desired level of performance. The shield protects the components by either absorbing or deflecting the heat that is generated by the engine. Aluminum is the raw material that is used in the production of automotive heat shields. These heat shields are installed in the air box located below the hoods of vehicles, as well as in the cooling pipes. Heat shields are also fitted to air intake inlets in order to improve the efficiency of the combustion process.
MARKET DYNAMICS:
KEY DRIVERS:
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The growing popularity of electric and hybrid vehicles.
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More emphasis on fuel regulations that are light and efficient.
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The expansion of the market is fueled by an increase in vehicle manufacturing around the world.
RESTRAINTS:
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Raw material costs for automobile heat shield manufacturing have increased.
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Major countries' restrictions on internal combustion engine automobiles are projected to slow the market's expansion.
OPPORTUNITIES:
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Standards for components and buildings have been issued by government agencies.
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A surge in automotive industry technological innovation.
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As the price of heat shields for premium automobiles rises above average, this presents a growth opportunity for the market.
CHALLENGES:
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Electric vehicle manufacturing is a key challenge for the global automotive heat shield market.
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Due to COVID-19, major automakers shut down their operations, reducing production and sales.
IMPACT OF COVID-19:
The global economy has been badly impacted by the epidemic of coronavirus illness. The covid-19 pandemic has had a significant influence on the global economy, with many firms being severely harmed as a result of the outbreak. Lockdowns and social distancing restrictions have cost the government and businesses enormous sums of money. As a result of this, the demand for high-end automobiles has decreased significantly. As a result of a financial crisis, people are reluctant to spend their money on vehicles or other expensive purchases. There has been a drop in demand for automobiles, which has impacted the Heatshield market. As a result of these factors, the expansion of the Automotive Heatshield market was severely hampered. After the Covid issue, the market may see favorable results from the efforts of the leading companies in the industry.
KEY MARKET PLAYERS:
Dana Incorporated, Lydall Inc., Tenneco Inc., Morgan Advanced Materials, Autoneum Holding AG, ElringKlinger AG, Carcoustics, UGC Inc., Talbros Automotive Components Ltd, and DuPont are some of the affluent competitors with significant market share in the Automotive Heat Shield Market.
MARKET ESTIMATION:
Market, By Product:
The global market has been divided into Single Shell, Double Shell, and Sandwich Based on the product segment. Single shell heat shields led the market and accounted for 59.0% of sales. Single shell product is produced from 0.3-1.0 mm aluminum foil. Double-shell heat shields are produced from 0.3-1.0 mm aluminum sheets. Sandwich products give high-temperature protection.
Market, By Application:
The global market has been divided into Exhaust systems, Turbocharger, Under Bonnet, Engine Compartment, and Under Chassis Based on application segment. The engine compartment category is expected to command a market share of more than 32.0% of total revenue. Engine assemblies are frequently shielded from high temperatures by means of a heat shield. Over the projection period, the turbocharger application category is expected to grow at a CAGR of 5.6 percent.
Market, By Material:
The global market has been divided into metallic and non-metallic based on the material segment. The metallic category dominated the market, accounting for more than 87% of the total revenue. Aluminum, stainless steel, and other metals with excellent conductivity are commonly used to make metallic heat shields. Over the projection period, the non-metallic segment is expected to grow at a CAGR of 5.2 percent. The use of non-metallic heat shields in under-bonnet applications, such as high-temperature hoses, is on the rise.
MARKET SEGMENTATION:
By Product:
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Single Shell
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Double Shell
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Sandwich
By Application:
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Exhaust System
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Turbocharger
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Under Bonnet
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Engine Compartment
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Under Chassis
By Material:
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Metallic
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Non-Metallic
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REGIONAL ANALYSIS:
In the year 2020, Asia Pacific was the most dominant region in terms of market share, accounting for about 43 percent of the total revenue. Automotive manufacturers have been encouraged to use lightweight alloys in the production of heat shield materials as a result of the implementation of strict vehicle emission rules in Europe. These norms have been adopted by the European Union. Over the course of the projection period, it is anticipated that China will experience a growth at a CAGR of 4.5 percent. It is anticipated that the country would foster wider adoption of electric vehicles as a result of this endeavor, which will, in turn, increase the product demand in electric vehicle applications. The market in North America was responsible for generating revenue of $2.5 billion USD. The key element that drove demand in the region was the rising desire for automobiles that are both lightweight and economical in their use of gasoline.
REGIONAL COVERAGE:
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North America
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The USA
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Canada
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Mexico
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Europe
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Germany
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The UK
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France
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Italy
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Spain
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The Netherlands
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Rest of Europe
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Asia-Pacific
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Japan
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south Korea
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China
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India
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Australia
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Rest of Asia-Pacific
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The Middle East & Africa
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Israel
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UAE
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South Africa
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Rest of Middle East & Africa
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Latin America
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Brazil
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Argentina
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Rest of Latin America
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| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 12.53 Billion |
| Market Size by 2030 | US$ 16.49 Billion |
| CAGR | CAGR of 3.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Single Shell, Double Shell, Sandwich) • By Application (Exhaust System, Turbocharger, Under Bonnet, Engine Compartment, Under Chassis) • By Material (Metallic, Non-Metallic) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Dana Incorporated, Lydall Inc., Tenneco Inc., Morgan Advanced Materials, Autoneum Holding AG, ElringKlinger AG, Carcoustics, UGC Inc., Talbros Automotive Components Ltd, and DuPont |
| Key Drivers | • The growing popularity of electric and hybrid vehicles. • More emphasis on fuel regulations that are light and efficient. • The expansion of the market is fueled by an increase in vehicle manufacturing around the world. |
| Restraints |
• Raw material costs for automobile heat shield manufacturing have increased. |
Frequently Asked Questions (FAQ) :
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Heat Shield Market Segmentation, By Product
8.1 Single Shell
8.2 Double Shell
8.3 Sandwich
9. Global Automotive Heat Shield Market Segmentation, By Application
9.1 Exhaust System
9.2 Turbocharger
9.3 Under Bonnet
9.4 Engine Compartment
9.5 Under Chassis
10. Global Automotive Heat Shield Market Segmentation, By Material
10.1 Metallic
10.2 Non-Metallic
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 DuPont,
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Dana Incorporated
12.3 Lydall Inc.
12.4 Tenneco Inc.
12.5 Morgan Advanced Materials
12.6 Autoneum Holding AG
12.7 ElringKlinger AG
12.8 Carcoustics
12.9 UGC Inc.
12.10 Talbros Automotive Components Ltd
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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