Automotive Heat Shield Market To Reach $17.3 Billion By 2030

Automotive Heat Shield Market Growth & Trends

The global automotive heat shield market size is expected to reach USD 17.3 billion by 2030, registering a CAGR of 4.6% during the forecast period, according to a new report by Grand View Research, Inc. Growing product utilization in the production of modern-day electric vehicles 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.

Key players in the global market are actively collaborating with the automotive manufacturers to improve the thermal performance of the vehicle along with its fuel efficiency. DuPont, Zircotec, Dana Incorporated, and Morgan Advanced Materials are some of the notable companies that are collaborating with the leading automotive manufacturers across the world.

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Automotive Heat Shield Market Report Highlights

• In 2022, the metallic segment held the largest revenue share of 85.5%. Their mouldability, durability, superior conductivity, and high-temperature resistance attributes propels the product demand.

• In 2022, the single shell segment accounted for the largest revenue share of 58.6%. It is highly effective against relatively low-temperature heat sources.

• In 2022, the passenger car segment held the largest revenue of 77.8% owing to An increase in per capita disposable income and improved living standards in Asia Pacific and the Middle East and Africa.

• In 2022, Asia Pacific dominated the market and accounted for the largest revenue share of 37.5%. The region generates a burgeoning demand for LCVs and HCVs to provide effective logistical services to its rapidly expanding industrial & e-commerce sector.

• Technological advancements in the production process have assisted the manufacturers to significantly reduce the product weight, improve durability, and decrease the overall manufacturing cost associated with the product.

Automotive Heat Shield Market Segmentation

Grand View Research has segmented the global automotive heat shield market based on product, material, application, vehicle type, and region:

Automotive Heat Shield Product Outlook (Revenue, USD Million, 2018 - 2030)

• Single Shell

• Double Shell

• Sandwich

Automotive Heat Shield Application Outlook (Revenue, USD Million, 2018 - 2030)

• Exhaust System

• Turbocharger

• Under Bonnet

• Engine Compartment

• Under Chassis

Automotive Heat Shield Material Outlook (Revenue, USD Million, 2018 - 2030)

• Metallic

• Non-metallic

Automotive Heat Shield Vehicle Type Outlook (Revenue, USD Million, 2018 - 2030)

• Passenger Car

• Light Commercial Vehicle (LCV)

• Heavy Commercial Vehicle(HCV)

Automotive Heat Shield Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • UK

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Thailand

  • Australia

• Central and South America

  • Brazil

• Middle East and Africa

  • Saudi Arabia

List of Key Players in the Automotive Heat Shield Market

• DuPont

• Dana Limited.

• Zircotec Ltd

• Morgan Advanced Materials

• Autoneum

• ElringKlinger AG

• Lydall, Inc.

• Tenneco Inc.

• CARCOUSTICS

• UGN Inc.