(MENAFN- Ameliorate Digital Consultancy)
Automotive heat shield market in European region growth will rise with the demand for closed engine compartments. A palpable rise in electric vehicle production is in line with the emphasis on boosting fuel efficiency standards. European Union stated in its 2020 climate and energy targets that there should be a 20% dip in greenhouse gas emissions from 1990. Rigorous environmental regulations have encouraged industry players to bolster the uptake of automotive heat shields.
A notable uptick in automotive production has added fillip in Europe. Specifically, close to 313 million vehicles were on the European roads in 2020, according to the European Automobile Manufacturers Association. A large fleet of automobiles and soaring adoption of vehicles will be the key growth determinants for various material consumption.
Request for a sample of this research report @ terms of revenue, automotive heat shield market in European region size will surpass USD 665 million by 2026. Leading companies will potentially vie to expand their footholds across the region. Stakeholders are likely to emphasize these trends in the ensuing period:
Passenger carrying vehicles to reshape the trend
Revenue-boosting opportunities will be observed in PCV signet in the wake of the presence of a large fleet of passenger vehicles and the demand for pickup vehicles and vans. Lately, passenger transportation has become a key growth enabler to manufacture auto components. Passenger transport holds a lion's share, accounting for more than 80% of all vehicles. The automotive heat shield market in European region share from PCV segment is forecast to grow at a moderate CAGR of more than 3.3% through 2026.
Light commercial vehicles to remain at the forefront
Light commercial vehicles will be one of the major automotive heat shield market in European region. Watchdogs such as the EU have vouched for LCVs to combat greenhouse gas emissions. Auto manufacturers are cashing in on the popularity of aluminized steel. The industry share from LCV segment is forecast to grow at a sizable rate by 2026, with Germany and Italy leading from the front.
Aluminum based heatshield to see higher demand
Stakeholders will potentially re-strategize their product positioning through the adoption of aluminum heat shields. Some of the dynamics such as high-temperature resistance, lightweight and low thermal expansion coefficient have boded well for the use of aluminum in EVs. So much so that the installation of powerful batteries will augment the market presence of aluminized steel. The aluminum material segment will witness an appreciable gain by 2026.
Aftermarket channel to be a major component
Aftermarkets will be the catalyst in Germany and the U.K. as leading companies gear to expand their penetration across the region. According to the European emission standards, the European Union contemplates boosting the number of electric vehicles to 30 million by 2030.
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Surging demand for tank heat shields will bolster the automotive heat shield market in European region share. Notably, tank heat shields have gained ground to protect against damages caused by hot exhaust parts. Europe witnessed around 21% of the global automotive production in 2019 and the outlook will potentially favor the trend for tank heat shields.
The COVID-19 outbreak has had a torrid impact on the industry outlook owing to the temporary shutdown of plants. Post-COVID era is likely to witness a gradual rise in automotive production with normalization of full capacity production.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.2 automotive heat shield market in European region estimation & forecast parameters
1.3 List of Data sources
1.3.1 Primary
1.3.2 Secondary
Chapter 2 Executive Summary
2.1 Automotive heat shield market in European region snapshot
Chapter 3 Automotive heat shield market in European region Insights
3.1 automotive heat shield market in European region coverage
3.2 Industry size and forecast, 2016 – 2026
3.3 automotive heat shield market in European region ecosystem analysis
3.3.1 Vendor matrix
3.4 Future trends
3.4.1 Innovation Landscape
3.5 Raw material analysis
3.6 Regulatory norms & directives
3.7 Drivers & restraints
3.7.1 automotive heat shield market in European region drivers
3.7.2 Restraints
3.8 Application growth mapping
3.9 Industry analysis: Porter's
3.10 Competitive benchmarking
3.10.1 Strategy dashboard
3.11 PEST analysis
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