(MENAFN- Ameliorate Digital Consultancy)
The automotive exhaust heat shield market is an essential part of the automotive industry that provides protection to the vehicle's underbody and other critical components from the heat generated by the exhaust system. The heat shield is installed between the exhaust system and the vehicle's underbody to reduce the transfer of heat and prevent damage to the vehicle's components. The growing demand for high-performance vehicles and increasing concerns about emissions and environmental regulations are driving the growth of the automotive exhaust heat shield market.
The market will account for revenues worth US$ 9.712 Billion; by 2025 it is estimated to reach nearly US$ 15 Billion.
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One of the primary drivers of the automotive exhaust heat shield market is the growing demand for high-performance vehicles that generate more heat than traditional vehicles. The increasing demand for high-performance vehicles is driving the development of new technologies and materials that can withstand high temperatures and provide better protection to the vehicle's components. Additionally, the growing concern about emissions and environmental regulations is driving the adoption of new exhaust systems that generate less heat but require more effective heat shielding to prevent damage to the vehicle's underbody. As a result, the automotive exhaust heat shield market is expected to grow in the coming years, offering manufacturers a range of options and features to improve the performance and efficiency of their vehicles.
Asia Pacific will Continue to be the Largest Market for Automotive Heat Shield
Asia Pacific (APAC) will continue to be the largest market for the automotive heat shield, with sales estimated to exhibit the highest CAGR through 2025, in terms of volume. Various guidelines issued by the regulatory authorities have compelled the OEMs in developing products that are compatible with the present regulatory environment.
Demand for lower carbon emissions by these regulations have increased the focus of manufacturers to minimize engine sizes by reducing the number of cylinders. In addition, increasing penetration of turbochargers equipped with heat shield into spark ignition and compression ignition engines has been witnessed, for maintaining the output power of these engines. The aforementioned factors are expected to drive growth of the automotive heat shield market in APAC.
However, the presence of a large number of tier II and tier III players in APAC are increasingly investing in new products and technologies which are unaffordable. This is anticipated to incur challenges for existing players and restrain them from adopting new technologies, which in turn will impede growth of the market in APAC.
Increasing Sales of High-Performance Cars to Drive Market Growth in Europe
In Europe, a growth of the automotive heat shield market has surged significantly, which is attributed to increasing sales of high-performance cars in both aftermarket and OEM. These high-performance cars require effective heat shield solutions for safety purpose.
Automotive heat shields play a critical role in preventing heat generated by increasing power and speed of luxurious cars, and sports cars. These factors are expected to fuel the growth of the market in Europe. In terms of volume, Europe is expected to be the second largest market for the automotive heat shield, with sales pegged to reach nearly 400 Mn units by 2025-end.
Although single shell heat shield will remain preferred among products, sales of sandwich heat shield are expected to exhibit the fastest growth in the market, in terms of volume. In addition, sales of double shell heat shield will remain comparatively higher than sandwich heat shield. Based on material type, sales of non-metallic heat shield is expected to register 5.3% CAGR through 2025. Non-metallic heat shield will remain dominant in the market.
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Automotive Heat Shields to Witness Largest Application in Engine Compartment of Automobiles
In terms of volume, automotive heat shields will witness largest application in engine compartment of automobiles, followed by exhaust system. However, sales of automotive heat shield in under chassis application will remain sluggish during the forecast period. By vehicle type, passenger cars will remain sought-after in the global automotive heat shield market, in terms of volume. In addition, sales of automotive heat shield in LCVs and HCVs will collectively account for 370 Mn units, the former being more lucrative than the latter.
OEM will continue to be the largest sales channel for automotive heat shield in the global market, with sales pegged to reach nearly 14,000 Mn units by 2025-end. However, sales of automotive heat shield in aftermarket will exhibit the highest CAGR through 2025.
Key Players
Key market players identified in PMR's report include Federal-Mogul Corporation, Progress-Werk Oberkirch AG, Dana Holding Corporation, Talbros Automotive Components Ltd., ElringKlinger AG, Sumitomo Riko Company Limited, LYDALL INC, Morgan Advanced Materials Plc., AUTONEUM HOLDING AG., Carcoustics International GmbH, Datsons Engineering Works Private Limited, J&S GmbH Automotive Technology, ACS Industries, Inc., Happich Gmbh, Heat Shield Products Inc., HKO Isolier-und Textiltechnik GmbH, ISOLITE GmbH, FITWEL GASKET COMPANY (INDIA) PRIVATE LIMITED, Thermo-Tec Automotive Products Inc., TKG Automotive.
Market Segmentation
| By Product Type | Single Shell Double Shell Sandwich |
| By Application | Under Chassis Under Bonnet Engine Compartment Exhaust System Turbocharger |
| By Sales Channel | |
| By Material | |
| By Vehicle Type | |
| By Region | North America Europe Latin America Asia Pacific (APAC) |
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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