Market Size of Automotive Heat Shield Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Heat Shield Market Analysis
The automotive heat shield market is valued at USD 14 billion in 2020, and it is expected to reach USD 17 billion by 2026. The automotive heat shield market is anticipated to register a CAGR of over 4% during the forecast period (2021 - 2026).
The COVID-19 pandemic severely hit the automotive industry by causing a decline in sales as OEMs struggled for production as many countries were in lockdown. The market experienced supply chain disruptions during the pandemic causing the market to move at a slow pace. Post-pandemic, the companies are positive regarding the sales as they resume operations and many economies reviving slowly.
As modern-day cars are rolling out with improved efficiency and performance, they also have to keep up to protect the components from extreme conditions. Increasing usage of turbochargers in both petrol and diesel vehicles has led many companies to equip heat shields for smoother operation at higher temperatures. This is expected to play a significant role in heat shield market growth.
The growing population, improved economic conditions, and easy credit are a few factors involved in increasing the number of motor vehicles, globally. All cars with an engine capacity of more than 1.6 liter contain heat shields, and hence, the automotive heat shield market is growing rapidly. The global luxury car market size grew by 78% in the last decade, thereby increasing the number of vehicles and further driving the automotive heat shields market.
As most luxury cars today are having high-performance engines, it has been important to provide those vehicles with heat shields which in turn is estimated to supplement the growth of the automotive heat shield market.
Automotive Heat Shield Industry Segmentation
The Automotive Heat Shield Market report covers the latest trends and developments. The Automotive Heat Shield Market is segmented by Component Type, Vehicle Type, and Geography. The report also covers the market share of major players in volume USD billions.
Based on Component Type, the market is segmented as Engine Compartment, Exhaust Compartment, and Other Types. By Vehicle Type, the market is segmented as Passenger Cars and Commercial Vehicles. By Sales Channel, the market is segmented as OEMs and Aftermarket, and based on Geography, the market is observed as North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
| By Type | |
| Engine Compartment | |
| Exhaust Compartment | |
| Other Types |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Sales Channel | |
| OEMs | |
| Aftermarket |
| By Geography | |||||||
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Automotive Heat Shield Market Size Summary
The automotive heat shield market is experiencing a positive trajectory, driven by the increasing demand for vehicles with enhanced efficiency and performance. As modern cars incorporate turbochargers to operate smoothly at higher temperatures, the need for heat shields has become more pronounced. This trend is further amplified by the growing global population and improved economic conditions, which have led to a rise in motor vehicle ownership. The luxury car segment, in particular, has seen significant growth, with high-performance engines necessitating the use of heat shields. Despite the challenges posed by the COVID-19 pandemic, which disrupted supply chains and slowed market growth, the industry is recovering as companies resume operations and economies gradually revive.
The Asia-Pacific region dominates the automotive heat shield market, fueled by industrialization, availability of resources, and favorable policies attracting global companies. The demand for luxury and sports cars, especially in countries like China and India, has surged, driving the need for turbochargers and, consequently, heat shields. The market is also witnessing technological advancements, with manufacturers integrating high-end composite materials for hybrid and electric vehicles. However, the shift towards electric vehicles, which generate less heat, and the high cost of heat shields pose challenges to market growth. Despite these hurdles, the market remains consolidated, with key players like ElringKlinger AG, Autoneum Holding AG, and Dana Incorporated leading the way in innovation and strategic acquisitions.
Automotive Heat Shield Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Engine Compartment
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2.1.2 Exhaust Compartment
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2.1.3 Other Types
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2.2 By Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Commercial Vehicles
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2.3 By Sales Channel
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2.3.1 OEMs
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2.3.2 Aftermarket
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Spain
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2.4.2.5 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 India
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2.4.3.2 China
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2.4.3.3 Japan
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East & Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East & Africa
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Automotive Heat Shield Market Size FAQs
What is the current Automotive Heat Shield Market size?
The Automotive Heat Shield Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Automotive Heat Shield Market?
ElringKlinger AG , Dana Incorporated, Autoneum Holding AG, Lydall Inc. and Talbros Automotive Components Ltd are the major companies operating in the Automotive Heat Shield Market.
