Automotive Heat Shield Market: Introduction
According to the report, the global automotive heat shield market is projected to surpass US$ 17.11 Bn by 2031, expanding at a CAGR of 3.10% during the forecast period. Rise in expansion of the automobile sector across the globe is estimated to propel the automotive heat shield market, as heat transfer or de-heating is an essential process for any vehicle to run smoothly. The automotive heat shield plays a vital role in preventing any radiant heat damage to the sensitive components of the vehicle. Modern vehicles must stay updated with advancements in efficiency and performance in order to protect the components from severe circumstances. Increasing utilization of turbochargers in both petrol and diesel vehicles has driven numerous businesses to equip heat shields for smoother functioning at greater temperatures. This is projected to propel the heat shield market.
Expansion of Automotive Heat Shield Market
The demand for turbochargers and turbocharger heat shields is expected to rise as the demand for more powerful and fuel-efficient gasoline-powered automobiles increases. Consumer choice has turned toward in-vehicle safety and comfort equipment as a result of increased consumer knowledge and increased per capita income. Heat shields in automobiles serve an important part in improving vehicle safety. Heat shields protect car components from heat and high temperatures, preventing them from deterioration. Thermally sensitive components, such as the lambda probe, gasoline and hydraulic lines, electric wiring, and the fuel tank itself, must also be safeguarded. Consequently, the global automotive heat shield market is being propelled by an increase in the demand for safety.
Based on product type, the rigid heat shield segment dominated the global automotive heat shield market, in terms of volume and revenue, in 2020. Rise in sales of premium and luxury cars is further boosting the global automotive heat shield market.
In terms of application, the turbo heat shield segment dominated the global automotive heat shield market, in terms of volume and revenue, in 2020. The demand for two wheelers, four wheelers, and heavy vehicles is considerably high, which, in turn, is driving the automotive heat shield market globally.
Regional Analysis of Global Automotive Heat Shield Market
In terms of region, the global automotive heat shield market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominates the global vehicle heat shield industry. Significant industrialization has occurred in the past few years due to abundance of good natural and human resources, as well as the availability of inexpensive labor, raw materials, a well-developed transportation network, and investor-friendly industrial regulations. Increased automotive production and sales in nations such as India, China, and those in ASEAN, as well as expansion of the automotive components sector, are some of the primary factors driving the market.
Automotive Heat Shield Market Players
Prominent players operating in the global automotive heat shield market include Dana Limited, UGN Inc., Autoneum, Lydall Inc., HAPPICH GmbH, ElringKlinger AG, Progress-Werk Oberkirch AG, Morgan Advanced Materials, Tenneco Inc., and Carcoustics.
Global Automotive Heat Shield Market: Segmentation
About Automotive and Transportation Industry at Transparency Market Research
Experts at TMR adopt an innovative outlook to analyze growth trends and opportunities in the automotive and transportation industry. A range of TMR’s market research reports discover how AI is powering a transformation in the automotive and transportation industry. Our business intelligence reports on the automotive and transportation industry provide meticulous analysis using cutting-edge research methodologies.
Our expertise lies in end-to-end consulting and advisory services. Reach out to know more.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Transparency Market Research
90 Sate Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453