Automotive Heat Shield Market Size Worth $15.2 Billion By 2027: Grand View Research, Inc.
SAN FRANCISCO, Dec. 15, 2020 /PRNewswire/ -- The global automotive heat shield market size is expected to reach USD 15.2 billion by 2027, according to a new report by Grand View Research Inc.
SAN FRANCISCO, Dec. 15, 2020 /PRNewswire/ -- The global automotive heat shield market size is expected to reach USD 15.2 billion by 2027, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 3.6% from 2020 to 2027. Growing product utilization in the production of modern-day electric vehicles to improve heat dissipation is expected to drive the market over the forecast period.
The rise in demand for electric vehicles is expected to have a positive impact on product demand. Rising product utilization to dissipate the heat generated by the battery pack, coupled with the rising focus on improving the travel range of the electric vehicles, is expected to drive the market over the forecast period.
Key suggestions from the report:
- In China, the metallic material segment is expected to expand at a CAGR of 4.4% over the forecast period on account of its robust heat dissipation property and growing adoption in the production of eclectic vehicles
- In 2019, the under chassis application segment in North America generated a revenue of USD 327.6 million owing to its wide-ranging use to control the temperature within the vehicle cabin and improve the passenger comfort
- In Germany, the market for automotive heat shield is anticipated to reach USD 1.5 billion by 2027 on account of increasing restrictions on controlling vehicular emissions, coupled with the growing adoption of electric vehicles within the country
- In India, the passenger car vehicle type segment is expected to expand at a CAGR of 5.4% over the forecast period owing to the rapid growth of automotive production in the country, coupled with its emergence as one of the major passenger car exporters across the world
- Technological advancements in the production process have assisted the manufacturers to significantly reduce the product weight, improve durability, and decrease the overall manufacturing cost associated with the product.
Read 102 page research report with ToC on "Automotive Heat Shield Market Size, Share & Trends Analysis Report By Product (Single Shell, Double Shell, Sandwich), By Application, By Material, By Vehicle Type, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/automotive-heat-shield-market
Growing regulatory support in the form of rebates and subsidies for promoting the adoption of electric vehicles in various parts of the world is expected to have a positive impact on market growth. Furthermore, the Government of China's pledge to become a carbon-neutral economy by the year 2060 is further projected to drive the product demand over the forecast period.
Key players in the global market are actively collaborating with the automotive manufacturers to improve the thermal performance of the vehicle along with its fuel efficiency. DuPont, Zircotec, Dana Incorporated, and Morgan Advanced Materials are some of the notable companies that are collaborating with the leading automotive manufacturers across the world.
Grand View Research has segmented the global automotive heat shield market on the basis of product, application, material, vehicle type, and region:
- Automotive Heat Shield Product Outlook (Revenue, USD Million, 2016 - 2027)
- Single Shell
- Double Shell
- Sandwich
- Automotive Heat Shield Application Outlook (Revenue, USD Million, 2016 - 2027)
- Exhaust System
- Turbocharger
- Under Bonnet
- Engine Compartment
- Under Chassis
- Automotive Heat Shield Material Outlook (Revenue, USD Million, 2016 - 2027)
- Metallic
- Non-metallic
- Automotive Heat Shield Vehicle Type Outlook (Revenue, USD Million, 2016 - 2027)
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Electric Vehicles
- Automotive Heat Shield Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
List of Key Players of Automotive Heat Shield Market
- DuPont
- Dana Incorporated
- Zircotec
- Morgan Advanced Materials
- Autoneum
- ElringKlinger AG
- Lydall Inc.
- Tenneco Inc.
- Carcoustics
- UGN Inc.
Find more research reports on Advanced Interior Materials Industry, by Grand View Research:
- Aluminum Die Casting Market – The global aluminum die casting market size was valued at USD 24.91 billion in 2018 and is expected to register a CAGR of 10.1% from 2019 to 2025. Demand from growing building and construction sector and increasing aluminum content in vehicles are the key drivers.
- High-Temperature Insulation Market – The global high-temperature insulation market size was estimated at USD 4.44 billion in 2018 and is estimated to expand at a CAGR of 7.8% over the forecast period. Rising awareness regarding energy conservation is estimated to drive the market.
- Aluminum Composite Panels Market – The global Aluminum Composite Panels market size was valued at USD 5.34 billion in 2018 and is expected to exhibit a CAGR of 6.4% from 2018 to 2025. Increasing the application scope of lightweight aluminum composite panels in the construction industry is driveing the market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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