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Automotive Heat Shield Market Size (2024 - 2029)

The automotive heat shield market is experiencing growth driven by the increasing demand for vehicles with high-performance engines, particularly in the luxury car segment. The market's expansion is supported by the rising adoption of turbochargers in both petrol and diesel vehicles, necessitating the use of heat shields to protect components from extreme temperatures. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and slowed market progress, the recovery of the automotive industry and the resurgence of economic activities are contributing to the positive outlook for the market. Factors such as a growing population, improved economic conditions, and easier access to credit are also enhancing the market's capacity, as more vehicles with engine capacities requiring heat shields are being produced globally.

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Market Size of Automotive Heat Shield Industry

Automotive Heat Shield Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

Automotive Heat Shield Market Major Players

*Disclaimer: Major Players sorted in no particular order

Automotive Heat Shield Market Analysis

The automotive heat shield market is valued at USD 14 billion in 2020, and it is expected to reach USD 17 billion by 2026. The automotive heat shield market is anticipated to register a CAGR of over 4% during the forecast period (2021 - 2026).

The COVID-19 pandemic severely hit the automotive industry by causing a decline in sales as OEMs struggled for production as many countries were in lockdown. The market experienced supply chain disruptions during the pandemic causing the market to move at a slow pace. Post-pandemic, the companies are positive regarding the sales as they resume operations and many economies reviving slowly.

As modern-day cars are rolling out with improved efficiency and performance, they also have to keep up to protect the components from extreme conditions. Increasing usage of turbochargers in both petrol and diesel vehicles has led many companies to equip heat shields for smoother operation at higher temperatures. This is expected to play a significant role in heat shield market growth.

The growing population, improved economic conditions, and easy credit are a few factors involved in increasing the number of motor vehicles, globally. All cars with an engine capacity of more than 1.6 liter contain heat shields, and hence, the automotive heat shield market is growing rapidly. The global luxury car market size grew by 78% in the last decade, thereby increasing the number of vehicles and further driving the automotive heat shields market.

As most luxury cars today are having high-performance engines, it has been important to provide those vehicles with heat shields which in turn is estimated to supplement the growth of the automotive heat shield market.

Automotive Heat Shield Industry Segmentation

The Automotive Heat Shield Market report covers the latest trends and developments. The Automotive Heat Shield Market is segmented by Component Type, Vehicle Type, and Geography. The report also covers the market share of major players in volume USD billions.

Based on Component Type, the market is segmented as Engine Compartment, Exhaust Compartment, and Other Types. By Vehicle Type, the market is segmented as Passenger Cars and Commercial Vehicles. By Sales Channel, the market is segmented as OEMs and Aftermarket, and based on Geography, the market is observed as North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

By Type
Engine Compartment
Exhaust Compartment
Other Types
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Sales Channel
OEMs
Aftermarket
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
United Arab Emirates
Saudi Arabia
Rest of Middle East & Africa
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Automotive Heat Shield Market Size Summary

The automotive heat shield market is experiencing a positive trajectory, driven by the increasing demand for vehicles with enhanced efficiency and performance. As modern cars incorporate turbochargers to operate smoothly at higher temperatures, the need for heat shields has become more pronounced. This trend is further amplified by the growing global population and improved economic conditions, which have led to a rise in motor vehicle ownership. The luxury car segment, in particular, has seen significant growth, with high-performance engines necessitating the use of heat shields. Despite the challenges posed by the COVID-19 pandemic, which disrupted supply chains and slowed market growth, the industry is recovering as companies resume operations and economies gradually revive.

The Asia-Pacific region dominates the automotive heat shield market, fueled by industrialization, availability of resources, and favorable policies attracting global companies. The demand for luxury and sports cars, especially in countries like China and India, has surged, driving the need for turbochargers and, consequently, heat shields. The market is also witnessing technological advancements, with manufacturers integrating high-end composite materials for hybrid and electric vehicles. However, the shift towards electric vehicles, which generate less heat, and the high cost of heat shields pose challenges to market growth. Despite these hurdles, the market remains consolidated, with key players like ElringKlinger AG, Autoneum Holding AG, and Dana Incorporated leading the way in innovation and strategic acquisitions.

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Automotive Heat Shield Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Engine Compartment

      2. 2.1.2 Exhaust Compartment

      3. 2.1.3 Other Types

    2. 2.2 By Vehicle Type

      1. 2.2.1 Passenger Cars

      2. 2.2.2 Commercial Vehicles

    3. 2.3 By Sales Channel

      1. 2.3.1 OEMs

      2. 2.3.2 Aftermarket

    4. 2.4 By Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Spain

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 India

        2. 2.4.3.2 China

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle East & Africa

        1. 2.4.5.1 United Arab Emirates

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 Rest of Middle East & Africa

Automotive Heat Shield Market Size FAQs

The Automotive Heat Shield Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

ElringKlinger AG , Dana Incorporated, Autoneum Holding AG, Lydall Inc. and Talbros Automotive Components Ltd are the major companies operating in the Automotive Heat Shield Market.

Automotive Heat Shield Market Report Snapshots

Automotive Heat Shield Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)