Automotive Heat Shield Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Automotive Heat Shield Market is segmented by Type (Engine Compartment, Exhaust Compartment, and Other Types), Vehicle Type (Passenger Cars and Commercial Vehicles), Sales Channel (OEM's and Aftermarket), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The report offers market size and forecasts for Automotive Heat Shield Market in Value (USD billion) for all the above segments.

Market Snapshot

automotive heat shields market_overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >4 %

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Market Overview

The automotive heat shield market is valued at USD 14 billion in 2020, and it is expected to reach USD 17 billion by 2026. The automotive heat shield market is anticipated to register a CAGR of over 4% during the forecast period (2021 - 2026).

The COVID-19 pandemic severely hit the automotive industry by causing a decline in sales as OEMs struggled for production as many countries were in lockdown. The market experienced supply chain disruptions during the pandemic causing the market to move at a slow pace. Post-pandemic, the companies are positive regarding the sales as they resume operations and many economies reviving slowly.

As modern-day cars are rolling out with improved efficiency and performance, they also have to keep up to protect the components from extreme conditions. Increasing usage of turbochargers in both petrol and diesel vehicles has led many companies to equip heat shields for smoother operation at higher temperatures. This is expected to play a significant role in heat shield market growth.

The growing population, improved economic conditions, and easy credit are a few factors involved in increasing the number of motor vehicles, globally. All cars with an engine capacity of more than 1.6 liter contain heat shields, and hence, the automotive heat shield market is growing rapidly. The global luxury car market size grew by 78% in the last decade, thereby increasing the number of vehicles and further driving the automotive heat shields market.

As most luxury cars today are having high-performance engines, it has been important to provide those vehicles with heat shields which in turn is estimated to supplement the growth of the automotive heat shield market.

Scope of the Report

The Automotive Heat Shield Market report covers the latest trends and developments. The Automotive Heat Shield Market is segmented by Component Type, Vehicle Type, and Geography. The report also covers the market share of major players in volume USD billions.

Based on Component Type, the market is segmented as Engine Compartment, Exhaust Compartment, and Other Types. By Vehicle Type, the market is segmented as Passenger Cars and Commercial Vehicles. By Sales Channel, the market is segmented as OEMs and Aftermarket, and based on Geography, the market is observed as North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

By Type
Engine Compartment
Exhaust Compartment
Other Types
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Sales Channel
OEMs
Aftermarket
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
United Arab Emirates
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

High Cost of Heat Shield in Aftermarket and Increasing Electric Vehicle Sales Restraining the Market Growth

The primary hindrance to the heat shield market is the high price of heat shields. The exhaust system must be possibly removed to fit the new heat shield. The aftermarket prices for the automotive heat shields are 1.5 times more than OEM prices of the same. Although it is recommended to change the heat shields every 100,000 to 150,000 kilometers, many car owners do not generally prefer to replace the old one with a new heat shield, owing to the price or lack of awareness of vehicle safety.

With the increasing emission standards, the need for the adoption of the electric vehicle has been a prominent initiative among various countries, globally. Though heat shields are being utilized in battery management systems, it is not as widespread as compared to IC engines. This is because of the reason that EV's generate far less amount of heat compared to engines.

Governmental incentives towards the EV industry and charging infrastructure to support customers and to reduce carbon footprint in the countries are also causing a dip in heat shield sales.

Due to the advancement of technology, automotive heat shield manufacturers have been able to bring the latest features to their products. Integration and customization of heat shields with high-end composite materials to ensure new and innovative heat shielding components for hybrid and electric vehicles.

automotive heat shields market_segment

Asia-Pacific is Dominating the Market

The automotive heat shield market is dominated by the Asia-Pacific region. Huge industrialization in recent times because of the availability of good natural and human resources, cheap source of labor, availability of raw materials, good transportation network, and investor-friendly industrial policies are some of the vital factors encouraging global companies to set up industries in these countries of the Asia Pacific region. Some of the major factors driving the growth of the market are increasing automotive production and sales in countries like India, China, and ASEAN Countries and the growing automotive components sector.

The demand for luxury cars has grown at a faster pace in the last five years. These luxury and sports cars require high-performance turbochargers to deliver performance and fuel efficiency. In the past five years, the demand for luxury cars in countries such as India, China, and Japan, has increased rapidly. The consumer preference for luxury cars as a status symbol has created even more demand. China has experienced the highest growth in the luxury car market.

The exhaust gases are made to work harder and spin the turbo before exiting the exhaust, making the turbocharger an important market for a heat shield. With an increase in the number of cars employing turbochargers, the sales volume of heat shields also increases.

In addition to the increase in luxury vehicle sales, the need for engine downsizing in smaller vehicles to be compliant with the emission standards is forcing the automakers to turbocharge even the entry-level vehicles. Turbochargers are expected to be in one of every two vehicles or 50% of the vehicles by the end of the forecast period. The high growth of turbocharged vehicles, especially in the fast-growing countries like China and India, is expected to drive the heat shield market at a faster pace.

automotive heat shield_geography

Competitive Landscape

The automotive heat shield market is consolidated. Some major players dominating the market include ElringKlinger AG, Autoneum Holding AG, Dana Incorporated, and Lydall Inc.

  • In November 2020, Dana Incorporated signed a definitive agreement to purchase a portion of the thermal-management business of Modine Manufacturing Company.
  • In 2020, Talbros Automotive Components Limited entered into a Technical Assistance Agreement (TAA) with its Japanese partner 'Sanwa Packing Industry Co. Ltd' for Light Weight Aluminium Heat Shields. This product will be used for automotive applications and is a futuristic product technology that offers value-added features like Noise Reduction, Emission Control, and Heat Insulation at challenging temperatures.

Recent Developments

  • In March 2021, Zircotec launched ZircoFlex SHIELD. ZircoFlex SHIELD reportedly achieves better thermal performance at 40% lower weight and 46% lower volume than competing heat-shield products.
  • DuPont announced that it is investing USD 30 million to build a new manufacturing facility in China to manufacture BETAFORCEand BETATECH thermal interface materials that help support battery thermal management during hybrid/electric vehicle charging and operation.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter’s Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Engine Compartment

      2. 5.1.2 Exhaust Compartment

      3. 5.1.3 Other Types

    2. 5.2 By Vehicle Type

      1. 5.2.1 Passenger Cars

      2. 5.2.2 Commercial Vehicles

    3. 5.3 By Sales Channel

      1. 5.3.1 OEMs

      2. 5.3.2 Aftermarket

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Spain

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 India

        2. 5.4.3.2 China

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Dana Incorporated

      2. 6.2.2 Lydall Inc.

      3. 6.2.3 Elringklinger AG

      4. 6.2.4 Federal-Mogul Corporation

      5. 6.2.5 Morgan Advanced Materials

      6. 6.2.6 Autoneum Holding AG

      7. 6.2.7 Nichias Corporation

      8. 6.2.8 Talbros Automotive Components Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Automotive Heat Shield Market market is studied from 2018 - 2026.

The Automotive Heat Shield Market is growing at a CAGR of >4% over the next 5 years.

The Automotive Heat Shield Market is valued at 14 Billion USD in 2018.

The Automotive Heat Shield Market is valued at 17 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

ElringKlinger AG , Dana Incorporated, Autoneum Holding AG, Lydall Inc., Talbros Automotive Components Ltd are the major companies operating in Automotive Heat Shield Market.

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