Market Size of Automotive Shielding Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Shielding Market Analysis
The automotive shielding Market is projected to grow with a CAGR of more than 4 % during the forecast period.
- With the increase in demand for electric vehicles, strict emission norms from governments globally and demand for fuel efficient vehicles rising with a high rate the shielding market for automobiles is expected to witness high demands during the forecast period.
- With the inclusion of more electric based features like digital cockpit, ADAS and infotainment systems, the EMI shielding will witness a high demand in the market. Along with, the upsurge in sales of electric vehicles will drive the market. The sales of electric vehicles in 2019, was around 2.26 million plug in car sales globally, which is 9% higher than the 2018 figures.
- The Internal combustion engine vehicles is witnessing a negative growth rate due to the increasing fuel rates, strict government norms regarding emission and availability of alternative fuel vehicles. The demand for electric vehicles is growing with a higher growth rate because of its environment friendly nature and cost efficiency, along with the lucrative incentives given by the governments globally to boost the demand.
- However, the use of technologically advanced products that help to minimize EMI can restrain the market growth in the forecast period.
