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Automotive Heat Shield Market Share to Reach Approximately USD 23.00 Billion by 2022

Press Release   •   Jan 30, 2018 04:21 EST

Zion Market Research has published a new report titled “Automotive Heat Shield Market (Turbo Heat Shields, Exhaust Heat Shield Insulation, Heat Shield & Thermal Barriers, Exhaust & Header Wrap, Thermal & Heat Shield Sleeving, And Spark Plug Boot Heat Shields) by Material (Metallic and Non-Metallic): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, the global automotive heat shield market was valued at around USD 13.00 billion in 2016 and is expected to reach approximately USD 23.00 billion by 2022, growing at a CAGR of around 9.5% between 2017 and 2022.

Automotive heat shields are designed to protect the vehicle body and components by absorbing excessive heat generated from the engine and exhaust systems. These heat shields are used at various locations within the vehicle. Automotive heat shield products provide high-quality thermal protection for street performance and racing enthusiasts.

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Growing automotive industry and increasing adoption of electronics in automobiles are expected to impact positively the global automotive heat shield market. Moreover, increasing demand for the luxury vehicle is expected to drive the demand for automotive heat shields in the near future. The emergence of new vehicle segments, such as electric and hybrid is expected to fuel the market growth over the years to come. Growing awareness among consumers regarding the harmful impact of carbons emissions on the environment has benefited the uptake of electric and hybrid vehicles in several countries. However, the increase in the price of raw material is expected to hinder the market growth within the forecast period. Nonetheless, R&D initiatives to develop advanced products offer vast opportunities for the industry participants.

Its vast product line includes turbo heat shields, exhaust heat shield insulation, heat shield and thermal barriers, exhaust & header wrap, thermal & heat shield sleeving, and spark plug boot heat shields. Exhaust heat shield insulation was the leading segment and it accounted for over 20% share of total revenue generated in 2016. The spark plug boot heat shields segment is another important segment and is projected to growing at a CAGR of around 10.0% during the forecast period.

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Based on material, the market can be segmented into metallic, and non-metallic. Non-metallic heat shields are made up of carbon-fiber reinforced plastics, ceramics, silica fibers, silicon carbide and others. Non-metallic heat shields were the largest segment and are expected to show substantial growth within the forecast due to its good thermal capabilities. The metallic heat shield is expected to grow at a decent rate on account of increasing use of metals such as aluminum and stainless steel, which possesses high thermal conductivity and high tensile strength.

By geography, Asia Pacific accounted for the large chunk of market share in terms of revenue in 2016. The industry is expected to be driven by increasing demand for vehicles, brought on by rapid growth and industrialization in developing countries such as China, Japan, and India. In terms of revenue, Asia Pacific was followed by North America and Europe in 2016. North America is expected to show significant growth in the years to come. This is mainly due to increased demand for automobiles have grown considerably, increasing the growth of the automotive heat shields market in North America.

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The global automotive heat shields market is moderately consolidated, with the leading four players accounted for significant share of the market in 2016. Some of the major companies have been investing in product innovation, technological advancement, and maintaining quality standards in order to retain their dominance in the market. Some of the key players Dana Holding Corporation, Federal-Mogul Corporation, Morgan Advanced Materials, Autoneum Holding AG, Elringklinger AG, Lydall Inc., Progress-Werk Oberkirch AG, Happich Gmbh, UGN Inc, Covpress Ltd. and others.

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