Automotive Heat Shield Market Revenue to Attain USD 20.42 Bn by 2033

03 Dec 2024

Share :

Table of Content

1. Automotive Heat Shield Market Revenue and Trends 2023 to 2033 2. Market Overview 3. Report Highlights of the Automotive Heat Shield Market 4. Automotive Heat Shield Market Trends 5. Regional Outlook 6.  Automotive Heat Shield Market Coverage 7. Market News

Automotive Heat Shield Market Revenue and Trends 2023 to 2033

The global automotive heat shield market revenue was valued at USD 13.21 billion in 2024 and is expected to attain around USD 20.42 billion by 2033, growing at a CAGR of 4.96% during the forecast period. The demand for the automotive heat shield market is increasing due to the rising implementation of stringent emission standards across the globe.

Market Overview

The automotive heat shield market produces and sells heat shields for automobile vehicles. Heat shields safeguard the vehicle components and body from excess heat generated by the engine or the exhaust system. Heat shields can be produced from different types of materials like stainless steel and titanium. Aluminum heat shields can be utilized in a variety of vehicles like light commercial vehicles, passenger vehicles, and heavy commercial vehicles.

Report Highlights of the Automotive Heat Shield Market

• By material, the metallic segment dominated the global market in 2023. The dominance of the segment can be attributed to the higher heat resistance property and durability of the metallic shield.
• By material, the non-metallic segment is expected to grow at the fastest rate in the market over the forecast period. The growth of the segment can be linked to the increasing need for lightweight materials in automobile manufacturing.
• By vehicle type, the passenger car segment dominated the market in 2023. The dominance of the segment is because of the increasing consumer demand for improved cabin temperature control and vehicle comfort.
• By vehicle type, the HCV segment is expected to grow significantly in the market over the forecast period. The growth of the segment is due to rising regulatory pressure for the reduction of emissions.
• By product, in 2023, the single shell segment led the global market. The dominance of the segment can be driven by the simple design and cost-effective solutions given by these shells.
• By product, the sandwich segment is projected to grow at the fastest rate in the market during the forecast period. This is due to the enhanced performance and durability of sandwich heat shields.
• By application, the engine compartment segment led the global market in 2023. The dominance of the segment can be credited to the increasing demand for enhanced automobile functions.
• By application, the turbocharger segment is estimated to grow at the fastest rate in the market during the projected period. The growth of the segment is driven by the escalating adoption of turbocharged and downsized engines.

Automotive Heat Shield Market Trends

Developments in material technology

Innovations in material technology substantially fuel the automotive heat shield market as the latest heat shields are not limited to conventional materials such as steel and aluminum. The integration of lightweight materials and thermal-resistant materials like composites, ceramics, and specialty alloys has transformed the functionality and design of heat shields. In addition, these new materials provide strong thermal insulation, improved durability, and decreased weight, which are necessary for enhancing vehicle performance.

• In June 2023, Autoneum Holding AG launched the release of its new ceramic warmth protection generation. The new technology is created to provide progressed warmth insulation and reduce noise emissions.

Stringent emission regulations

Stringent regulations are the key driver of the automotive heat shield market. Governments across the globe are imposing stringent emission standards to tackle climate change and environmental pollution. Moreover, Heat shields play an important role in decreasing heat emissions by acting as an insulating component, particularly in areas near exhaust systems.

Growing demand for high-performance vehicles

The increasing popularity of highly functional vehicles, such as luxury models and sports cars substantially contribute to the demand for the automotive heat shield market. Heat shields are essential for safeguarding exhaust system elements and vital engines from heat damage. Furthermore, key manufacturers, including Porsche, Ferrari, and BMW, rely on innovative heat shielding solutions to maintain the performance of their vehicles.

Regional Outlook

Asia Pacific led the automotive heat shield market in 2023. The dominance of the region can be linked to the growth in the automotive industry in emerging countries such as India and China. The growing production and sales of commercial and passenger vehicles in the region can impact positively the market growth in the region. Moreover, the surge in hybrid and electric vehicles in countries such as China can contribute to market growth further.

North America is expected to show the fastest growth in the automotive heat shield market during the forecast period. The growth of the region can be credited to the increasing demand for automobiles equipped with advanced functional and safety features. Furthermore, major automotive players in countries such as Canada and the U.S. are propelling the market growth in this region.

 Automotive Heat Shield Market Coverage

Market News

• In Nov 2023, Talbros Automotive Components announced securing new business worth Rs 580 crore, including EV-related business valued at Rs 270 crore. These orders are set to be executed over the next five years.
• In September 2023, Tenneco Inc. declared the development of a new heat guard that is included with a catalytic converter. The new warmth shield is created to improve the performance of the catalytic converter and reduce emissions.

Market Segmentation

By Product

• Single Shell
• Double Shell
• Sandwich

By Material

• Metallic
• Non-Metallic

By Vehicle Type

• Passenger Car
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

By Application

• Exhaust System
• Turbocharger
• Under Bonnet
• Engine Compartment
• Under Chassis

Get this report to explore global market size, share, CAGR and trends, featuring detailed segmental analysis and an insightful competitive landscape overview@ https://www.precedenceresearch.com/checkout/5300

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344