Automotive Heat Shield Market to Surpass US$ 17.11 Bn by 2031, Observes TMR Study
– The global automotive heat shield market is being boosted by increase in sales of high-end luxury vehicles
– With rise in use of turbochargers in both gasoline and diesel cars, several companies are installing heat shields to ensure that they operate smoothly at higher temperatures, which is expected to drive the global market
ALBANY, N.Y., April 7, 2022 /PRNewswire/ — The global automotive heat shield market was worth around US$ 12.23 Bn in 2020. The global market is anticipated to rise at a CAGR of 3.10% during the forecast period, from 2021 to 2031.The global automotive heat shield market is anticipated to cross the valuation of US$ 17.11 Bn by 2031.In passenger automobiles as well as light trucks, heat shields are commonly employed to provide flame protection from components that generate excessive heat. In order to diversify their revenue sources, firms in the global automotive heat shield market are increasingly focusing on professional racecars. Leading manufacturers of synthetic fibers and industrial chemicals are intensifying their marketing initiatives to promote their goods as a long-lasting automobile heat shield. The sales revenue of the market is being bolstered by the introduction of innovative items.
Furthermore, for companies in the global automotive heat shield market, enhancing the performance and safety of automobile parts has become crucial. As a result, producers are putting in more effort into inventing lightweight fiber materials, which are resistant to flames and excessive heat. The need for automotive heat shields is being fueled by high-temperature automotive applications.
Self-adhesive heat shields are a recent industry invention that is providing companies with new opportunities. Ceramic coatings are being used by manufacturers to increase the visual attractiveness of heat shields, which is expected to expand growth of the global market in the years to come.
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Key Findings of Market Report
Heat shields in vehicles play a critical role in enhancing vehicle safety. Heat shields shelter automotive components from extreme heat and cold, keeping them from deteriorating. The electric wiring, gasoline and hydraulic lines, lambda probe, and the fuel tank itself are all thermo-sensitive components that must be protected. As a result, a rise in the need for safety is likely to propel the global automotive heat shield market.
Based on application, the turbo heat shield category led the global automotive heat shield market, both revenue wise and volume wise. Demand for four-wheelers, two-wheelers, as well as heavy vehicles is growing, which is likely to drive the global automotive heat shield market.
Lightweight heat shields lessen the vehicle weight and enhance fuel economy. Leading OEMs are embracing light-weighting techniques to meet with stringent fuel-efficiency standards, thus heat shield manufacturers are concentrating on providing lightweight and effective heat shield solutions.
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Global Automotive Heat Shield Market: Growth Drivers
The Asia Pacific region is expected to be a major market for vehicle heat shields. The vehicle heat shield market in Asia Pacific is likely to be dominated by Japan, India, and China. The market’s expansion in Asia Pacific can be attributed to increasing vehicle manufacturing in India, South Korea, and Japan, as well as rising usage of modern and advanced electronics in China.
The global automotive heat shield market is expected to grow at a rapid pace due to the global expansion of the vehicle industry. The automotive heat shield market is expected to be propelled by increasing mergers &acquisitions in the automotive sector throughout the world.
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Global Automotive Heat Shield Market: Key Competitors
Global Automotive Heat Shield Market: Segmentation
Rigid Heat Shield
Flexible Heat Shield
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Turbo Heat Shields
Exhaust Manifold & Header Wrap
Exhaust Manifold & Header Heat Shield
Catalytic Converter & Exhaust Pipe
Underbody Heat Shield
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