Heat Shield Market - Snapshot
Automotive heat shield is an accessory utilized in vehicles in order to prevent any radiant heat damage to the sensitive components of the vehicle. In a vehicle, the engine produces a tremendous amount of heat. Several components placed in the engine compartment need an adequate temperature in order to achieve optimum performance. Therefore, the heat radiated from the engine must be deflected from such sensitive components. The heat shield plays a vital role in protecting the components from the heat, either deflecting it away or by absorbing it.
Automotive heat shields are an essential component of vehicles, especially of premium and luxury class vehicles. Therefore, increased demand for vehicles is fueling the demand for automotive heat shields. Significant rise in penetration of newly developed technologies, such as turbochargers, catalytic converters, and exhaust pipes to enhance engine performance and reduce exhaust emission, are likely to boost the demand for automotive heat shield. Turbochargers generate a large amount of heat, and they are covered with heat shields in order to prevent the unwanted transfer of heat to the adjoining components. Rise in demand for more powerful and fuel-efficient gasoline-powered vehicles is likely to boost the demand for turbochargers and subsequently for turbocharger heat shields. Furthermore, raised awareness among consumers and increase in per capita income has shifted consumer preference toward in-vehicle safety and comfort accessories. Heat shields in vehicles play a major role in raising the safety standard of vehicles. Heat shields prevent the deterioration of vehicle components by protecting them from heat and high temperature. Moreover, thermally sensitive parts, such as the lambda probe, fuel and hydraulic lines, electric wiring, and the fuel tank itself have to be protected. Thus, the surge in demand for safety is propelling the global automotive heat shield market.
Battery electric vehicles do not have any heat generating system, such as internal combustion engine, thereby eliminating the necessity of a heat shield. The only heat generating part of the battery electric vehicle is the battery itself. Thus, increase in demand for battery electric vehicles is restraining the automotive heat shield market.
Exhaust manifold and header and turbocharger are massive heat generating components of the vehicle, after the engine itself. These components have to handle high temperature exhaust gas, which generates heat. Exhaust manifold and header is surrounded by several sensitive components such as fuel linings, wiring harness, sensors, controllers, and motors. Thus, maintaining an adequate temperature in the engine compartment is of high importance, which results in incorporation of exhaust manifold and header heat shields. Varity of materials can be used for manufacturing heat shields. Aluminum and steel are most preferred exhaust heat shield materials, which is attributed to the low weight and inexpensiveness of these materials. Rate of adoption of turbochargers is increasing due to the implementation of stringent emission norms in order to enhance vehicle performance and reduce pollution. Exhaust pipe heat shields are incorporated in order to insulate the heat from being transferred to the passenger compartment. Turbo heat shields and the exhaust manifold and header heat shield segments dominate the global automotive heat shield market.
Generally, heat shields are either rigid or flexible in nature. Flexible heat shields are made from textile, fiberglass, titanium, and other composite materials. These are capable of handling significantly higher temperature; however, these are preferred by vehicle manufacturers owing to their high cost. Rigid heat shields are inexpensive and have a long lifespan, which is likely to last with the vehicle. Therefore, manufacturers prefer rigid heat shields.
The global automotive heat shield market has been segmented into five prominent regions such as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. China, Japan, and India are globally leading automotive manufacturing hubs. Large number of population, increasing per capita income, and developing road infrastructure are fueling the demand for vehicles across the region. A large number of vehicles manufactured in China, India, and Japan are being exported across the globe. Raised awareness about safety and comfort, stringent emission norms, and raised awareness about pollution and its impact on the environment are prompting consumers and vehicle manufacturers to incorporate emission control and efficiency boosting devices, such as turbochargers and catalytic converters. This is attributed to the high share, in terms of revenue, held by Asia Pacific in the global automotive heat shield market in 2017. Asia Pacific is followed by Europe, in terms of share, where the demand for luxury and premium class vehicles is rising due to the increasing per capita income and rising preference for in-vehicle safety and comfort.
Increase in per capita income, government initiatives for attracting foreign investment, lower land and labor prices, lower bank interest rates, and increase in availability of skilled labors across Latin America and Africa are attracting global auto and component manufacturers, which in turn is anticipated to offer lucrative opportunities to key global players operating in the automotive heat shield market.
Key players operating in the global automotive heat shield market include Federal Mogul Holdings Corporation, Autoneum Holding AG, Dana Holding Corporation, Lyndall Inc., UGN Inc., Happich GmbH, Elringklinger AG, and Progress-Werk Oberkirch AG.
Heat Shield Market - Overview
This report analyzes and forecasts the market for automotive heat shield at the global and regional level. The market has been forecasted based on volume (Million Units) and value (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global automotive heat shield market. It also covers the impact of these drivers and restraints on the demand for automotive heat shield during the forecast period. The report also highlights opportunities and future scope in the market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive heat shield market. The Porter’s Five Forces model for the market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein the product is benchmarked based on market size, growth rate, and general market share.
The study provides a decisive view of the global automotive heat shield market by segmenting it in terms of end-use, type, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automotive heat shield in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual segments in all major countries across all the regions.
The study includes profiles of major companies operating in the global automotive heat shield market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, key executive bios, and manufacturing footprint.
Heat shields effectively enhance the performance and efficiency of the engine at considerably high temperature, which is primarily driving the global automotive heat shield market. Stringent emission norms, raised awareness among consumers, and increase in global warming due to increased pollution level are prompting vehicle manufacturers and consumers to install add-on accessories in vehicles in order to enhance engine performance and consequently, reduce pollution levels. This, in turn, is fueling the demand for vehicle performance boosting accessories, such as turbochargers, and emission control devices, such as exhaust gas recirculation techniques, and consequently, for automotive heat shields.
The report provides the estimated market size of automotive heat shield for 2017 and forecast for the next nine years. The global market size has been provided in terms of revenue. Market numbers have been estimated based on end-use, type, and region segments. Market size and forecast for each end-use and type have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key player’s product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), Consumer Connectivity Association, Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, Linked interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help to develop the analysis team’s expertise and market understanding.
The global automotive heat shield market has been segmented as follows:
Global Automotive Heat Shield Market, by End-Use
- Turbo Heat Shields
- Thermal Sleeves
- Manifold And Header Heat Wrap
- Manifold and header Heat Shield
- Catalytic Converter and Exhaust Pipe
- Underbody Heat Shield
Global Automotive Heat Shield Market, by Type
- Rigid Heat Shields
- Flexible Heat Shields
Global Automotive Heat Shield Market: by Region/Country/Sub-region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America