The global automotive heat shield market size is projected to grow from USD 16.1 billion in 2019 to USD 19.8 billion by 2027, at a CAGR of 2.6%

NEW YORK, Nov. 18, 2019 /PRNewswire/ --

The increasing vehicle production & focus on light-weighting, fuel efficiency, and technological advancements in the automotive industry are driving the growth of the automotive heat shield market.

Read the full report: https://www.reportlinker.com/p05826810/?utm_source=PRN 

The global automotive heat shield market size is projected to grow from USD 16.1 billion in 2019 to USD 19.8 billion by 2027, at a CAGR of 2.6%. Factors such as the increasing demand for commercial vehicles, rising vehicle production, and the adoption of advanced technologies are expected to boost the market growth. However, additional cost and vehicle weight and increasing competition are the key challenges in the automotive heat shield industry.

Increasing emphasis on increasing fuel efficiency and reduce NVH levels are likely to propel the growth of the market during the forecast period.
Increasing concerns over air pollution and global warming have forced the governments of several countries to enforce strict emission policies and regulations for ICE vehicles. OEMs are focusing on increasing fuel efficiency by adopting lightweight technologies in vehicles.
Manufacturers of heat shields are developing products best suited to fulfill the requirements of vehicle manufacturers.For instance, Autoneum manufactures multifunctional, lightweight components for optimal protection against heat and noise.

The company's RIMIC technology in heat shield designs heat-resistant up to 500°C.ElringKlinger specializes in lightweight solutions, e-mobility, sealing and shielding technology, tooling, and engineering services.

The shielding technology develops high temperatures thermal and acoustic shielding solution. ElroTherm™ shielding systems product range for automotive heat shields manufactured by the company.

Asia Pacific is expected to lead the market during the forecast period.
Asia Pacific comprises rapidly emerging economies such as China and India, along with developed nations such as Japan, and is the largest market for automotive. In recent years, the region has emerged as a hub for automobile production.
The key drivers for the automotive heat shield market in the region are the growing concerns about rising emission and continuous increase in vehicle production.Additionally, factors such as the rapid industrialization and urbanization in the country are driving the demand for commercial as well as passenger vehicles.

The total volume of light commercial vehicles sold in India during the year 2018 was exceeded 663 thousand, up from about 504 thousand in 2017.
Commercial vehicles are installed with exhaust systems and under chassis heat shields to protect the overheating of the engine. Hence, with the increase in commercial vehicle sales, the automotive heat shield market will be exhibiting significant growth.

Europe is expected to be the second-largest market during the forecast period.
Europe is pegged to be the second-largest market for automotive heat shield in 2019, after Asia Pacific. Europe is a major hub for several renowned automotive heat shield manufacturers such as Autoneum, Lydall, ElringKlinger, TKG Automotive, Zircotec, Carcoustics, Happich GmbH, and Morgan Advanced Materials, among others.
The growth of the automotive heat shield market in this region can be attributed to technological advancements such as lightweight and increased flexibility. The trend of engine downsizing and the growing demand for fuel-efficient vehicles are also driving the market for automotive heat shields in the region.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the automotive heat shield market.
• By Company Type: OEMs - 24%, Tier I - 63%, and Tier II & III - 13%,
• By Designation: CXOs - 27%, Manager - 41%, and Others - 32%
• By Region: North America - 27%, Europe - 32%, Asia Pacific - 37%, and Rest of the World- 4%

The automotive heat shield market comprises major manufacturers such as Dana Incorporated (US), Morgan Advanced Materials (UK), Autoneum (Switzerland), ElringKlinger AG (Germany), Lydall Inc. (UK), Carcoustics (Germany), and UGN Inc. (US), among others.

Research Coverage:
The study covers the automotive heat shield market across various segments.It aims at estimating the market size and future growth potential of this market across different segments such as product type, application, function type, material, vehicle type, and region.

The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.

Key Benefits of Buying the Report:
The report will help leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive heat shield market.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p05826810/?utm_source=PRN

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