Automotive Heat Shield Market Size, Share, And Growth Report 2032

Automotive Heat Shield Market Size

According to a report from Zion Market Research, the global Automotive Heat Shield Market was valued at USD 12.57 Billion in 2023 and is projected to hit USD 19.1 Billion by 2032, with a compound annual growth rate (CAGR) of 4.76% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Automotive Heat Shield Market industry over the next decade.

Request Free Sample

Automotive Heat Shield Market Overview  

Heat shields are used in the automotive sector in order to reduce noise or protect components and bodywork from heat damage. It also can give a better performance benefit by reducing the under-bonnet temperatures, therefore reducing the intake temperature. The material used in the heat shields is solid steel or aluminum sheeting. Heat shields are also used to cool the engine mount vents.

Automotive heat shields are designed to protect the vehicle body and components by absorbing excessive heat generated from the engine and exhaust systems. These heat shields are used at various locations within the vehicle. Automotive heat shield products provide high-quality thermal protection for street performance and racing enthusiasts.

Growing automotive industry and increasing adoption of electronics in automobiles are expected to impact positively the global automotive heat shield market. Moreover, increasing demand for the luxury vehicle is expected to drive the demand for automotive heat shields in the near future. The emergence of new vehicle segments, such as electric and hybrid is expected to fuel the market growth over the years to come. Growing awareness among consumers regarding the harmful impact of carbons emissions on the environment has benefited the uptake of electric and hybrid vehicles in several countries. However, the increase in the price of raw material is expected to hinder the market growth within the forecast period. Nonetheless, R&D initiatives to develop advanced products offer vast opportunities for the industry participants.

COVID-19 Impact Analysis

The global automotive heat shield market has witnessed a slight decline due to lockdown enforcement placed by governments in order to contain COVID spreading. Retail sales of vehicles and accessories across the region are also likely to suffer due to subdued consumer sentiment because of the rising infections and curbs. The automotive industry in the U.S remains fragile, vehicles sales decline by 5-10%, whereas China's vehicle sales continue their fast recovery. Europe automotive shows a decline of 8- 12% Y-o-Y.  

The restrictions imposed by various nations to contain COVID had stopped production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand for auto parts for vehicles. The market would remain bullish in the upcoming year. The significant decrease in the global automotive heat shield market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Automotive Heat Shield Market: Growth Factors

The increasing adoption of electronics in automobiles and the rising automotive sector are likely to spur the growth of the automotive heat shield market. Moreover, the rising requirement for a luxury car is expected to affect optimistically the development of the global automotive heat shield market during the forecast period. Moreover, an elevation in the cost of raw materials is likely to be a major limitation for the automotive heat shield market.

The volatility of the price is likely to carry over the period due to rising physical delivery costs and exchange rates, hampering the growth of the automotive heat shield market. Nevertheless, rising R&D spending to design enhanced products is likely to create lucrative opportunities in the market.

Automotive Heat Shield Market: Segmentation

Products Segment Analysis Preview  

Turbo Heat Shields, Exhaust Heat Shield Insulation, Heat Shield & Thermal Barriers, Exhaust & Header Wrap, Thermal & Heat Shield Sleeving, and Spark Plug Boot Heat Shields. The Exhaust Heat Shield Insulation segment held the major share in the automotive heat shield market and is likely to remain dominant throughout the forecast period.

Materials Segment Analysis Preview   

The metallic Materials segment dominated the global Automotive Heat Shield Market in 2020. It accounted for more than 75% share of the total market in 2020 and it is likely to witness major growth in the coming years. Owing to high investment in R&D, Metallic Material is likely to spur the growth of the Automotive Heat Shield Market.     

Request Free Sample

Automotive Heat Shield Market: Report Scope

Automotive Heat Shield Market: Regional Analysis

By geography, Asia Pacific accounted for the large chunk of market share in terms of revenue in 2016. The industry is expected to be driven by increasing demand for vehicles, brought on by rapid growth and industrialization in developing countries such as China, Japan, and India. In terms of revenue, Asia Pacific was followed by North America and Europe in 2016. North America is expected to show significant growth in the years to come. This is mainly due to increase demand for automobiles have grown considerably, increasing the growth of the automotive heat shields market in the North America.

Request Free Sample

Automotive Heat Shield Market: Competitive Players

Some of the major players in the global Automotive Heat Shield Market include:

• Federal-Mogul Corporation
• Dana Holding Corporation
• Autoneum Holding AG
• Morgan Advanced Materials
• Lydall Inc.
• Elringklinger AG
• Happich GmbH
• Progress-Werk Oberkirch AG
• Covpress Ltd.
• UGN Inc
• Others

The global Automotive Heat Shield Market is segmented as follows:

By Products

• Turbo Heat Shields
• Exhaust Heat Shield Insulation
• Heat Shield & Thermal Barriers
• Exhaust & Header Wrap
• Thermal & Heat Shield Sleeving
• Spark Plug Boot Heat Shields

By Materials

• Metallic
• Non-Metallic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa