Automotive Heatshield Market Trend 2021 What Are The Future Growth Opportunities Till 2026
The automotive heatshield market is expected to grow at a considerable rate by 2026 owing to rising demand for lightweight, high-performance vehicles. Automotive headshields are utilized for their high thermal insulation and the ability to prevent radiant heat damages to the vehicle. Increasing safety regulations in vehicles have led to compulsory installation of automotive heatshields in commercial vehicles, which is anticipated to fuel product demand.
High-performance sport vehicles also require effective heat insulation solutions for their functioning. On this note, manufacturers of automotive heatshields are designing products that are specifically tailored for sport vehicles. For example, in 2020, U.S automotive component manufacturer, Tenneco developed a series of thermal solutions for Corvette's emissions system, which involved the use of advanced, multi-layer heat shields. The heat shields were designed to abstain unwanted heat transfer to surrounding vehicular components and electronics.
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Noteworthy improvements in automotive manufacturing have supplemented the production of improved component designs, especially in engine sections. These design enhancements have led to the development of compact vehicle components, driving the need for more efficient and higher temperature insulation solutions that provide superior protection and dissipate heat faster.
Taking note of this demand, automotive heatshield companies are making products which are engineered to specific applications as well as to customer specifications. These firms are involved in forward integration in terms of services, instigating from product design stage to the final assembly and installation.
The aftermarket segment is expected to register over 4% CAGR by 2026. Aftermarket heatshields are mostly opted for their cost effectiveness and the ability to stop up to 70% radiant heat which is generated from the vehicle.
The product has a moderate replacement rate and works adequately with high heat generation vehicles. Growing need for superior quality aftermarket vehicle parts and a rising consumer preference for affordable and quality products may stimulate commendable growth opportunities in the aftermarket segment over the forecast period.
Europe automotive heatshield market accounted for about 25% share in 2019 and is estimated to witness significant growth over the coming years. This growth can be attributed to robust application of advanced technologies in vehicles such as compact engine and turbocharger, as well as the burgeoning automotive production in the region. Countries like Russia, Spain and Germany consist of large-scale automotive production facilities. These countries also house some of the leading sport car manufacturers in the world. Factors that may stir the growth of Europe automotive heatshield market by 2026.
DuPont, Dana Limited, Autoneum Holding AG, Lydall Inc, Morgan Advanced Material, Tenneco, AK Steel Corporation, HKO Group, Persico S.p.a., Zircotec, Elringklinger AG, Estamp Int, Frenzelit, and RGBSI are a few prominent names in the industry. These companies are actively investing in new product development and expansion of production facilities to cater to the surging product demand and expand their market presence.
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Partial Chapter of the Table of Content
Chapter 4. Automotive Heatshield Market, By Vehicle Type
4.1. Global market insights, by vehicle type
4.2. Passenger Cars
4.2.1. Global market estimates and forecasts, 2016 - 2026
4.2.2. Market estimates and forecast, by region, 2016 - 2026
4.3. LCV
4.3.1. Global automotive heatshield market estimates and forecasts, 2016 - 2026
4.3.2. Market estimates and forecast, by region, 2016 – 2026
4.4. HCV
4.4.1. Global market estimates and forecasts, 2016 - 2026
4.4.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 5. Automotive Heatshield Market, By Material Type
5.1. Global market insights, by material type
5.2. Aluminium
5.2.1. Global market estimates and forecasts, 2016 - 2026
5.2.2. Market estimates and forecast, by region, 2016 - 2026
5.3. Stainless steel
5.3.1. Global automotive heatshield market estimates and forecasts, 2016 – 2026
5.3.2. Market estimates and forecast, by region, 2016 – 2026
5.4. Aluminized steel
5.4.1. Global market estimates and forecasts, 2016 – 2026
5.4.2. Market estimates and forecast, by region, 2016 - 2026
Charts & Figures
FIG. 1 Automotive heatshield market 360° synopsis, 2016 – 2026
FIG. 2 Industry segmentation
FIG. 3 Global market, (Tons) (USD Million), 2016 - 2026
FIG. 4 Industry ecosystem analysis
FIG. 5 Growth potential analysis, 2019
FIG. 6 Porter’s analysis
FIG. 7 Company market share, 2019
FIG. 8 PESTEL analysis
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