The market for automotive heat shield is significantly fragmented, and
characterized based on the number of regional players. In terms of
value, the global automotive heat shield market is projected to register a steady expansion at 5.5% CAGR by 2025,
according to a recent report by Persistence Market Research (PMR).
The market will account for revenues worth US$ 9,711.7 Mn; by 2025 it is estimated to reach nearly US$ 15,000 Mn.
Asia Pacific will Continue to be the Largest Market for Automotive Heat Shield
Asia Pacific (APAC) will continue to be the largest market for the
automotive heat shield, with sales estimated to exhibit the highest CAGR
through 2025, in terms of volume. Various guidelines issued by the
regulatory authorities have compelled the OEMs in developing products
that are compatible with the present regulatory environment.
Demand for lower carbon emissions by these regulations have increased the
focus of manufacturers to minimize engine sizes by reducing the number
of cylinders. In addition, increasing penetration of turbochargers
equipped with heat shield into spark ignition and compression ignition
engines has been witnessed, for maintaining the output power of these
engines. The aforementioned factors are expected to drive growth of the
automotive heat shield market in APAC.
However, the presence of a large number of tier II and tier III players in APAC
are increasingly investing in new products and technologies which are
unaffordable. This is anticipated to incur challenges for existing
players and restrain them from adopting new technologies, which in turn
will impede growth of the market in APAC.
Increasing Sales of High-Performance Cars to Drive Market Growth in Europe
In Europe, a growth of the automotive heat shield market has surged
significantly, which is attributed to increasing sales of
high-performance cars in both aftermarket and OEM. These
high-performance cars require effective heat shield solutions for safety
purpose.
Automotive heat shields play a critical role in preventing heat generated by
increasing power and speed of luxurious cars, and sports cars. These
factors are expected to fuel the growth of the market in Europe. In
terms of volume, Europe is expected to be the second largest market for
the automotive heat shield, with sales pegged to reach nearly 400 Mn
units by 2025-end.
Although single shell heat shield will remain preferred among products, sales of
sandwich heat shield are expected to exhibit the fastest growth in the
market, in terms of volume. In addition, sales of double shell heat
shield will remain comparatively higher than sandwich heat shield. Based
on material type, sales of non-metallic heat shield is expected to
register 5.3% CAGR through 2025. Non-metallic heat shield will remain
dominant in the market.
Automotive Heat Shields to Witness Largest Application in Engine Compartment of Automobiles
In terms of volume, automotive heat shields will witness largest
application in engine compartment of automobiles, followed by exhaust
system. However, sales of automotive heat shield in under chassis
application will remain sluggish during the forecast period. By vehicle
type, passenger cars will remain sought-after in the global automotive
heat shield market, in terms of volume. In addition, sales of automotive
heat shield in LCVs and HCVs will collectively account for 370 Mn
units, the former being more lucrative than the latter.
OEM will continue to be the largest sales channel for automotive heat
shield in the global market, with sales pegged to reach nearly 14,000 Mn
units by 2025-end. However, sales of automotive heat shield in
aftermarket will exhibit the highest CAGR through 2025.
Key Players
Key market players identified in PMR’s report include Federal-Mogul
Corporation, Progress-Werk Oberkirch AG, Dana Holding Corporation,
Talbros Automotive Components Ltd., ElringKlinger AG, Sumitomo Riko
Company Limited, LYDALL INC, Morgan Advanced Materials Plc., AUTONEUM
HOLDING AG., Carcoustics International GmbH, Datsons Engineering Works
Private Limited, J&S GmbH Automotive Technology, ACS Industries,
Inc., Happich Gmbh, Heat Shield Products Inc., HKO Isolier-und
Textiltechnik GmbH, ISOLITE GmbH, FITWEL GASKET COMPANY (INDIA) PRIVATE
LIMITED, Thermo-Tec Automotive Products Inc., TKG Automotive.
Market SegmentationBy Product Type
- Single Shell
- Double Shell
- SandwichBy Application
- Under Chassis
- Under Bonnet
- Engine Compartment
- Exhaust System
- TurbochargerBy Sales Channel
- OEM
- AftermarketBy Material
- Non-Metallic
- MetallicBy Vehicle Type
- Passenger Car
- LCV
- HCVBy Region
- North America
- Europe
- Latin America
- Asia Pacific (APAC)
