USD 8.28 billion
Report ID: SQSG25AG2005 | Region: Global | Published Date: November, 2022 | Pages: 261 | Tables: 153 | Figures: 78
Global Automotive Shielding Market size was valued at USD 8.28 billion in 2021 and is poised to grow from USD 9.13 billion in 2022 to USD 20.24 billion by 2030, growing at a CAGR of 10.2% in the forecast period (2023-2030).
Automotive shielding is used to protect electronics and components in automobiles from heat and electromagnetic interference (EMI). The advancement of electronic devices and components in the automotive industry has raised important challenges such as radio frequency interference (RFI) and electromagnetic interference (EMI). EMI and heat shielding are necessary to address these concerns. EMI shielding is used to ensure the proper operation of electronic systems, while heat shielding is used to protect vehicle components from the harmful effects of heat by providing thermal management. The rise in demand for electric and self-driving vehicles has boosted demand for electric systems. As a result, the demand for electric vehicles is expected to drive the Automotive Shielding Market throughout the forecast period. Heatshields serve an important part in mitigating the negative effects of heat in vehicles. By reducing the temperature and keeping the components and transmission tunnels cool, it prevents heat from reaching them.
US Automotive Shielding Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.28 billion
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Global automotive shielding market is segmented based on heat application, EMI application, material type, shielding type, vehicle type, and region. Based on heat application, automotive shielding market is segmented into engine compartment, exhaust system, turbocharger, under chassis, fuel tank, and battery management. Based on EMI application, Automotive Shielding Market is segmented as Adaptive cruise control (ACC), Electric motor, Engine control module (ECM), Forward collision warning (FCW), Intelligent Park assist (IPA), Lane departure warning (LDW), Infotainment, Blind spot detection (BSD), Night vision system (NVS), Driver monitoring system (DMS), Automatic emergency braking (AEB). Based on material type, Automotive Shielding Market is segmented as metallic and non-metallic. Based on shielding type, Automotive Shielding Market is segmented as EMI shielding, Heat shielding. Based on vehicle type, Automotive Shielding Market is segmented as passenger car, light commercial vehicle, heavy commercial vehicle. Based on region, Automotive Shielding Market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa.
Automotive Shielding Market Analysis by Shielding Type:
The heat shield segment will dominate the global market. The market is divided into two types of shielding: heat shields and electromagnetic interference shield systems. Due to the enormous volume of internal combustion engine cars on the road worldwide, heat shields are commonly used in automobiles. Heat shields are mostly employed in exhaust systems, under chassis, engine compartments, turbochargers, and a variety of other automotive applications. A heat shield prevents overheating of automobile components and electronics by absorbing, reflecting, or expelling heat. Internal combustion engines generate a significant quantity of heat. Heat shields are commonly employed to protect car body parts and components from heat damage in engines and exhaust systems. These heat shields can eliminate up to 70% of the heat emitted by the exhaust system. Heat shields also improve vehicle performance by lowering the heat produced by various systems and components, as well as lowering fuel consumption. They might be hard or flexible. Rigid heat shields are typically fitted with metal clips or high temperature tapes and are made of solid steel, aluminium, or other composite materials with a ceramic covering to promote heat insulation. Flexible heat shields are typically comprised of thin aluminium sheets that may be moulded to any desired shape.
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Based on region global automotive shielding market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. Asia-Pacific is expected to be the most important market. The Asia-Pacific region, followed by Europe and North America, is predicted to be the market leader for automotive shielding. During the predicted period, high production and demand for autos drive demand. This demand is related to rising income levels in the region, which allows people to purchase more high-end luxury automobiles. The region's electric vehicle market is expanding at an alarming rate. China is the world's largest market for electric vehicles. China's electric vehicle market share climbed from 4.5 percent to 4.7 percent, with over 1.8 million plug-in electric automobiles sold in the country. The region's key players are spending extensively in the inclusion of cutting-edge technologies such as connected automobiles to prevent accidents and improve the driving experience. This will necessitate improved electrical systems in the car, resulting in a significant market demand for EMI shielding. The region's demand for electric vehicles is also high, owing to increased awareness about the environmental impact of conventional fuels and the financial benefits offered by the region's governments.
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Automotive Shielding Market Drivers
The increased adoption of technologically advanced electronic systems is expected to drive automotive shielding market growth.
Automotive Shielding Market Restraint
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The global automotive shielding market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key automotive shielding market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions
Top Players in the Global Automotive Shielding Market
Automotive Shielding Market Recent Developments
April 2019, Toyochem Co., Ltd. debuted its LIOELM FTS series of thermally conductive adhesive sheets. It is ideally suited for use as a heat-dissipation solution in high-power electronic equipment. The product is capable of transporting heat from the actual source by consistently insulating the gadget from thermal shock and high voltages.
DowSil EC-6601 Electrically Conductive Adhesive was introduced in May 2019, providing more electromagnetic interference shielding technology to its vast and increasing range of conductive silicone products.
May 2020, Autoneum enhances its product range by manufacturing Ultra-Silent cloth battery undercovers that meet the exact specifications for electric vehicle noise and thermal management. Lightweight Ultra-Silent components are typically made from recycled PET fibres that may be totally farmed, making them especially eco-friendly.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global automotive shielding market analysis, rise in demand for electric vehicles and consumer mass adoption of electric vehicles, as well as strategic activities by numerous key companies and government initiatives to enhance the sale of electric vehicles, are projected to drive demand for automotive shielding throughout the forecast period.
|Market size value in 2021||USD 8.28 billion|
|Market size value in 2030||USD 9.13 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Automotive Shielding Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Shielding Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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