Automotive Heat Shield Market Research Report – Forecast to 2030

Automotive Heat Shield Market by Type (Exhaust & Header Wrap, Thermal & Heat Shield Sleeving, Turbo Heat Shields, Exhaust Heat Shield Insulation, Heat Shield and Thermal Barriers, Spark Plug Boot Heat Shields), Material, Solution, Vehicle Type - Forecast till 2030

ID: MRFR/AM/4715-HCR | February 2021 | Region: Global | 100 pages         

Automotive Heat Shield Market

The Automotive Heat Shield Market is expected to grow at a CAGR of 8.6% and market value is expected to grow USD 14 billion during forecasted period

Segmentation

By vehicle type passenger cars HCV LCV
By material type Aluminum aluminized steel stainless steel
By application engine underbody Heatshield tank Heatshield starter motor turbocharger exhaust manifold the catalytic converter
By sales channel OEM aftermarket

Key Players

  • Federal-Mogul LLC (U.S.)
  • Dana Limited (U.S.)
  • Autoneum (Switzerland)
  • ElringKlinger AG (Germany)
  • Lydall Inc. (U.S.)
  • UGN Inc. (U.S.)
  • HAPPICH GmbH (Germany)
  • Progress-Werk Oberkirch AG (Germany)
  • Morgan Advanced Materials (U.K)
  • Heatshield Products Inc. (U.S.)

Drivers

  • Growth in advanced technologies
  • and safety concern regarding the heat from the vehicle
  • Government standards for the component structure
  • Heavy investment in research and development for better materials
  • Advanced materials at low cost for heat shield will boost the further growth
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Automotive Heatshield Market overview


Automotive Heatshield market value is expected to register 8.6% CAGR at the end of the forecast period. 


Heat shields are used to protect the parts of a device from heat generated from its core. Heat shields are highly used in many electrical devices, the automotive sector, and other things. The rising demand and production of electric vehicles, fuel-efficient vehicles, and commercial vehicles are expected to fuel the Automotive Heatshield market growth. Heatshield plays a crucial role in controlling the excess heat generated by the vehicle, protecting the sensitive part of the vehicle, and boosting the engine's performance by keeping the under-bonnet temperature in check. 


Over the years, Heatshield has seen huge demand for commercial vehicles and passenger cars. Excess heat generation in the vehicle and lack of heat management can reduce the performance of the vehicle. Too much heat from the engine can lower the output and lead to spark plug failures. That is why it becomes very important to have an effective heat-management solution to maintain temperature and fuel efficiency. The battery-operated vehicles use lithium-ion batteries that generate high heat. The lack of a heat control mechanism can cause a negative impact on the battery life and vehicle. 


The growing demand for electric vehicles worldwide is expected to boost the Automotive Heatshield market size. Modern-day cars need better performance and efficiency, which is why many automotive companies use Heatshield, and it will boost the market trends. Apart from that, better economic conditions, a growing population, and easy credit contribute to the increasing number of vehicles. All vehicles with more than 1.6 liters of engine capacity contain Heatshield, and the market size is growing rapidly. In the last ten years, the global luxury car market grew 78%, further driving the market growth. 


Covid-19 analysis 


Due to the outbreak of coronavirus disease, the world economy has been severely affected. The covid-19 pandemic has largely impacted the world economy—the businesses suffering badly due to the pandemic. Further, with the imposition of lockdown and social distancing guidelines, the government and the businesses have suffered huge losses. The automotive sector has been highly affected by this, and the demand for expensive products has declined. People are going through a financial crisis, and they don't want to spend their money on buying cars or any expensive things. The demand for the automotive sector has decreased, and it hurt the Heatshield market. Apart from that, the travel restrictions and restrictions on import & export badly affected the Automotive Heatshield market growth. The key players are trying their best to propel the market's demand, and the market may see positive results after the post-Covid situation. 


Competitive landscape


The major key players in the Automotive Heatshield market are



  • Lydall Inc. (U.S.)

  • Progress-WerkOberkirch AG (Germany)

  • UGN Inc. (U.S.)

  • Morgan Advanced Materials (U.K.),

  • Dana Holding Corporation (U.S.)

  • Federal-Mogul Holding Corporation (U.S.),

  • Autoneum Holdings AG (Switzerland),

  • Zircotec (U.K.)

  • ThermoTec Automotive (U.S.)

  • Elringklinger AG (Germany) 


Recent developments 


In March 2021, Zircotec launched ZircoFlex SHIELD, which offers better thermal performance with 46% lower volume and 40% lower weight.  


Market dynamics


Drivers in the Heatshield market


According to the data by World Health Organization, the world population reached 7.6 billion in March 2017, and it is growing rapidly. Due to the increasing population, the demand for the automotive sector and luxury cars is increasing, driving the automotive heat shield industry. The Heatshield is used in vehicles to protect them from excess heat generation. Apart from that, the increasing adoption of electric vehicles will further propel the demand of the Heatshield market. The high adoption of electric vehicles is due to the government initiative and for raising environmental concerns. Many automotive manufacturers are focusing the producing electric vehicles rather than improving conventional engines. This shift will propel the Heatshield market trends. 


Opportunities in the Heatshield market 


The demand for passenger cars is rapidly increasing, and it is expected to generate 1.5 billion in revenue by the end of 2016 due to the increasing demand. The increased use of pickup vehicles and lightweight vehicles will need Heatshield for better heat management. And it will generate more opportunities for the Heatshield market. Apart from that, people's increasing lifestyle and per capita income in developed regions will bring more opportunities for the Heatshield market. 


Restraints in the Heatshield market 


One of the biggest restraints in the Automotive Heatshield market is the high price of Heatshield. It is recommended to change the Heatshield in every 100,000 to 150,000 kilometers. And many people don't change it because of the high price and lack of awareness about vehicle safety. 


Challenges in the Heatshield market 


Heat shields are made from Aluminum, produced from the extraction from bauxite. But due to the implementation of various regulations regarding mining has been a big challenge for the market. Apart from that, many people aren't aware of the importance of Heatshield. As a result, they don't replace the shield when it gets old, and lack of awareness is another challenge for the Heatshield market. 


Cumulative growth analysis


The Automotive Heatshield market was valued at 14 billion in 2020, and it is expected to reach 17 billion by registering a healthy CAGR of 5%. The demand for the market has increased rapidly over the years. It will grow more due to the economic development, increasing population, increasing per capita income, and choosing electric vehicles. All these factors will drive the market size in the forecast period.


Market segmentation


The Automotive Heatshield market is segmented based on vehicle type, material type, application, and sales channel.



  • By vehicle type


Based on vehicle type, the market is divided into passenger cars, HCV, and LCV. Passenger cars hold the highest market share, which is expected to dominate this segment in the forecast period. The passenger cars segment is expected to generate 1.5 billion in revenue by 2026, owing to the adoption and demand from the aftermarket sector.



  • By material type


The Automotive Heatshield global market is divided into Aluminum, aluminized steel, and stainless steel based on material type. Aluminized steel segments hold the highest share in the market, and it is expected to grow at a CAGR rate of 3.5% in the forecast period. Due to great material properties like low coefficient, thermal expansion, and high temperature will dominate the market. This material combines steel and aluminum properties that will create a great advantage for the Heatshield market. The aluminum segment will also grow at a rapid rate due to the adoption of lightweight vehicles.



  • By application


By application, the market is segmented into the engine, underbody Heatshield, tank Heatshield, starter motor, turbocharger, exhaust manifold, the catalytic converter. Engine application is projected to hold the highest market share with a 4% CAGR. The wide application of Heatshield is to protect the vehicle from the heat generated from the engine.



  • By sales channel


Based on sales channels, the market is divided into OEM and aftermarket. OEM had a 75% market share in 2019. The high production of the automotive market to meet the rising demand is responsible for the segment growth. There may be 1.2 billion cars on the road by 2020 as per Green Mobility Report by the World Bank.


Regional analysis


The major regions in the Automotive Heatshield market Bank are North America, Asia-pacific, Europe, and the rest of the world. Asia-pacific dominated the Heatshield market. Rapid industrialization, apart from the availability of human resources and resources, raw materials, a good transportation network, and government initiatives, will boost the market in this region. Some of the major countries are China, India, and Japan. The luxury cars demand has increased rapidly in the countries like India, China, and Japan. As a result, it has created even more demand for the Heatshield market. North America will also see huge growth in the market due to the rapid demand for electric vehicles in this region and the strong economy. Europe will also register a healthy CAGR in the forecast period.


Report overview


This global Automotive Heatshield market report is based on the qualitative and quantitative analysis of the Heatshield market. It highlights the market overviews, covid-19 analysis, market dynamics, and market analysis. This global market report also highlights the regional analysis, competitive landscape, and recent market development.


Segmental table


Market, by Vehicle Type



  • Passenger Cars

  • HCV

  • LCV


Market, by Material Type



  • Aluminum

  • Stainless Steel

  • Aluminized Steel


Market, by Application



  • Turbo Charger

  • Tank Heatshield

  • Catalytic Converter

  • Exhaust Manifold

  • Underbody Heat shield

  • Engine

  • Starter Motor

  • Others


Market, by Sales Channel



  • OEM

  • Aftermarket



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   8.6% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022Β to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Material, Solution, Vehicle Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Federal-Mogul LLC (U.S.), Dana Limited (U.S.), Autoneum (Switzerland), ElringKlinger AG (Germany), Lydall, Inc. (U.S.), UGN, Inc. (U.S.), and HAPPICH GmbH (Germany). Progress-Werk Oberkirch AG (Germany), Morgan Advanced Materials (U.K), Heatshield Products, Inc. (U.S.)
  Key Market Opportunities

  • Heavy investment in research and development for better materials
  • Advanced materials at low cost for heat shield will boost the further growth
  •   Key Market Drivers

  • Growth in advanced technologies, and safety concern regarding the heat from the vehicle
  • Government standards for the component structure


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    Frequently Asked Questions (FAQ) :

    The growth rate, in the coming years, can be 8.6%.

    Surge in the sales of automobiles, increasing advanced technologies and the booming automotive industry can ensure that the market value grows exponentially in the coming years.

    Dana Limited (U.S.), Heatshield Products, Inc. (U.S), Progress-Werk Oberkirch AG (Germany), Autoneum (Switzerland), Lydall, Inc. (U.S.), UGN, Inc. (U.S.), Federal-Mogul LLC (U.S.), Morgan Advanced Materials (U.K), HAPPICH GmbH (Germany), ElringKlinger AG (Germany), are the significant vendors in the global market.

    APAC can achieve the best growth rate during the appraisal period.

    The types of automotive heat shield discussed in the report are spark plug boot heat shields, turbo heat shields, thermal & heat shield sleeving, heat shield and thermal barriers, exhaust heat shield insulation, exhaust & header wrap, and others.