Pune, India, December 2018 /MRFR Press Release/- Market Research Future published a half cooked research report on global automotive shielding market. The automotive shielding market is expected to witness 6% CAGR during the period, 2017 to 2023.
An engine compartment, turbocharger and exhaust system are attached closely which generates excessive heat. Thus automotive shielding is used to lower the temperature of underbody engine and reduces the heat in engine compartment. The importance of heat management system in automobiles is increasing due to use of temperature sensing components in automobiles which requires heat shielding. The massive growing sales of premium vehicles will boost the demand for heat shielding system with increased number of application such as adaptive cruise control, forward collision warning in running the vehicle. Increase in GDP and growing purchasing power of the customers will enhance the growth of the market. Increasing use of customized heat shield products depending upon the size and shape of the parts increases the demand for the market. Moreover, the growth of the market is challenged by the high price of the raw materials. The increase trend for customized heat shields with other components increases the growth of the market.
Market Research Analysis
In terms of region, the global market for automotive shielding are divided into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific is expected to hold the major market revenue share over the forecast period. Increase in the sales of vehicles in the Asia-Pacific and more awareness towards the safety will drive them to hold the highest market share throughout the forecast period. Asia Pacific will hold the highest CAGR during the forecast period due to owing increase in the sales of premium vehicles, increasing disposable income and increased purchasing power of users. Increasing manufacturing units of electromagnetic interface (EMI) shielding and partnership with local player’s increases growth of the Asia-Pacific region. Furthermore, increased sales of vehicles in China, Japan and India will enhance the overall revenue of the market.
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Scope of the Report
This study provides an overview of the global automotive shielding market, tracking five market segments across four geographic regions. The report studies key players, providing a six year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive shielding market by shielding type, heat application, EMI application, material type, vehicle type and regions.