The global Automotive Heat Shield market size is expected to be worth around US$ 15.4 billion by 2028, according to a new report by Vision Research Reports.
The global Automotive Heat Shield market size was valued at US$ 11.7 billion in 2020 and is anticipated to grow at a CAGR of 3.8% during forecast period 2021 to 2028.
Growing product utilization in the production of modern-day to improve heat dissipation is expected to drive the market over the forecast period.
The rise in demand for electric vehicles is expected to have a positive impact on product demand. Rising product utilization to dissipate the heat generated by the battery pack, coupled with the rising focus on improving the travel range of the electric vehicles, is expected to drive the market over the forecast period.
Growing regulatory support in the form of rebates and subsidies for promoting the adoption of electric vehicles in various parts of the world is expected to have a positive impact on market growth. Furthermore, the Government of China’s pledge to become a carbon-neutral economy by the year 2060 is further projected to drive the product demand over the forecast period.
Single shell heat shield led the market and accounted for more than 59.02% share of the total revenue in 2020. Single shell product is made from single-layer aluminum foil with a thickness of 0.3 - 1.0 mm. This heat shield is highly effective against relatively low-temperature heat sources. However, their greater space requirement is expected to hinder their wide-ranging adoption over the forecast period.
Double shell heat shields are generally made from two aluminum sheets of 0.3 - 1.0 mm thickness. These products are extremely lightweight and are designed to tolerate low to medium temperatures. It is mainly used in the heat management of catalytic converters, turbochargers, and starter motors of the vehicles.
The double shell segment is expected to witness significant growth over the forecast period. These products are majorly employed in under bonnet heat management applications to help control the overall temperature of the whole engine assembly and maintain optimum vehicle performance.
The engine compartment segment led the market and accounted for more than 30.02% share of the total revenue in 2020. The heat shield is widely used to protect engine assembly against high temperatures. The engine is probably the most important component of an automotive assembly. Improper heat management may lead to engine failure and reduce the life of the engine assembly.
The turbocharger application segment is expected to expand at the fastest CAGR of 4.9% over the forecast period. The growing use of turbochargers in various types of vehicles, such as passenger cars, light commercial vehicles, and heavy commercial vehicles, is expected to provide a major boost to the segment growth over the forecast period.
The metallic segment led the market and accounted for more than 85.02% share of the total revenue in 2020. Wide-ranging product adoption in various types of vehicles was the primary factor driving the segment. Additionally, their mouldability, durability, superior conductivity, and high-temperature resistance attributes are further expected to propel the product demand.
Metallic heat shields are generally made from aluminum, stainless steel, and other such metals that display high conductivity. The growing trend towards reducing the overall weight of the vehicular assembly is driving the demand for products made from various types of metallic alloys owing to their comparable conductivity, durability, and superior lightweight property.
The non-metallic segment is expected to expand at the fastest CAGR of 4.5% over the forecast period. Superior heat dissipation property, flame resistance, and durability are some of the key attributes that are expected to drive the segment over the forecast period. Non-metallic heat shields are witnessing growing adoption in under bonnet applications, including high-temperature hoses.
Non-metallic materials are generally made from composites or meta-aramid materials owing to their formability, flame resistance, and ability to withstand extremely high temperatures. Additionally, the non-metallic heat shields are extremely lightweight compared to metallic ones. This is expected to increase the share of the segment over the forecast period.
The passenger car segment led the market and accounted for more than 74.0% share of the global revenue in 2020. An increase in per capita disposable income and improvement in living standards are generating a burgeoning demand for passenger cars in Asia Pacific and the Middle East and Africa, thereby driving the product demand.
The light commercial vehicles (LCVs) segment is expected to expand at a CAGR of 3.5% over the forecast period. Growing demand for various types of LCVs, such as delivery vans and pickup trucks, from e-commerce and logistics companies to strengthen their last-mile delivery services is expected to be the primary factor driving the segment.
The electric vehicles segment held a 5.10% share of the overall revenue in 2020. Heat shield materials form an integral part of the electric vehicle assembly. They play an instrumental role in increasing the vehicle range and increasing the battery life by dissipating and controlling the heat generated by the lithium-ion batteries.
The heavy commercial vehicles (HCVs) segment is expected to witness robust growth over the forecast period. The growing adoption of liquefied natural gas (LNG) as an alternative to highly polluting diesel fuel is expected to provide a significant boost to the demand for heavy commercial vehicles, thereby increasing demand for automotive heat shields in the HCV segment.
Asia Pacific dominated the market and accounted for almost 37.03% share of the total revenue in 2020. The region generates a burgeoning demand for LCVs and HCVs to provide effective logistical services to its rapidly expanding industrial sector. Furthermore, the rapid growth of the e-commerce sector has generated a significant demand for commercial vehicles, thereby increasing demand for automotive heat shields.
China is expected to expand at a CAGR of 4.7% over the forecast period. In September 2020, Chinese President Xi Jinping announced a plan to make China carbon neutral by the year 2060. Under this initiative, the country is expected to promote greater adoption of electric vehicles, and thereby drive the product demand in electric vehicle applications.
Morgan Advanced Materials
Vehicle Type Outlook
Light Commercial Vehicle
Heavy Commercial Vehicle
Central & South America
Middle East & Africa
The Automotive Heat Shield market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive Heat Shield market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive Heat Shield market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Heat Shield market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Heat Shield market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive Heat Shield capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive Heat Shield by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Heat Shield market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Heat Shield market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Heat Shield market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive Heat Shield industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Automotive Heat Shield market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Heat Shield market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Heat Shield market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Heat Shield market. These factors have benefited the growth of the global market for Automotive Heat Shield. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Heat Shield. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Automotive Heat Shield are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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