AutomotiveHeat Shield Market
According toMarket Research Future (MRFR), The global automotive heat shield market isexpected to expand with a CAGR of 8.6% from 2018 to 2023 (forecast period). Thereport includes a COVID-19 analysis of the global automotive heat shieldmarket. It offers a detailed overview of market segments, emerging trends,growth, market forecasts, and challenges for evaluating current marketopportunities.
The heat shieldin the automotive sector is used to combat the excessive heat produced by theinternal combustion engine. Automotive heat shields are most widely used tocover the engine body to protect the components and body frame from heatdamage. The heat shield reduces the temperature of the bonnet by reducing theintake temperature. The automotive heat shield has a wide range of sizes and issimple to install on components. Aluminum is the principal raw material usedfor heat shield due to its advanced features.
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MarketDynamics
Increased salesof automobiles, growth in advanced technologies, and safety concerns regardingvehicle heat are expected to drive growth in terms of value and volume. Governmentstandards for the component structure will accelerate the growth of the heatshield for automotive. Modern or next-generation vehicles are moresophisticated and lightweight due to the use of advanced technologies.Substantial investment in research and development for improved materials isexpected to create opportunities for new players in the market. In addition,advanced materials at low cost for heat shield will fuel the industry's furthergrowth and create possibilities to generate revenue for the industry.
Nevertheless,constant fluctuations in the price of raw materials will slow down the growthof the industry. Competitive product pricing will impede the generation ofrevenue on the market and limit manufacturers to further innovation and newtechnology development.
AutomotiveHeat Shield Market Segmentation:
The globalmarket for automotive heat shield has been segmented on the basis of type,material, solution, vehicle type, and region.
On the basis oftype, the global market for automotive heat shield has been segmented intoexhaust & header wrap, turbo heat shields, thermal & heat shieldsleeving, heat shield, and thermal barriers, spark plug boot heat shields, andexhaust heat shield insulation.
On the basis ofmaterial, the global market for automotive heat shield has been segmented intometallic and non-metallic.
On the basis ofthe solution, the global market for automotive heat shield has been segmentedinto rigid, flexible, shell, and integrated.
On the basis ofvehicle type, the global market for automotive heat shield has been segmentedinto heavy commercial vehicles, passenger cars, and light commercial vehicles.
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RegionalAnalysis
Geographically,the global market for automotive heat shield has been segmented into four majorregions of North America, Asia Pacific, Europe, and the Rest of the World.
The Asia Pacificwill hold significant market share in terms of value and volume due toinfrastructure development, increased vehicle sales, and governmental policieson vehicle safety devices. The Asia Pacific will have the highest growth ratein the projected period, followed by North America and Europe.
Key Players
The prominentparticipants identified by MRFR operating in the global automotiveheat shield market include Progress-WerkOberkirch AG (Germany),Federal-Mogul LLC (U.S.), ElringKlinger AG (Germany), Autoneum (Switzerland),UGN, Inc. (U.S.), HAPPICH GmbH (Germany), Morgan Advanced Materials (U.K), Lydall,Inc. (U.S.), Heatshield Products, Inc. (U.S.) Dana Limited (U.S.) among others.
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