The global automotive shielding market accounted for a value of USD 15.5 billion in 2019 and is projected to register growth at a CAGR of 3.7% during forecast period.
COVID-19 has impacted the automotive shielding market. The automotive industry is adversely impacted by pandemic situation. The vehicle production activities have to halt due to lockdown. The supply chain of raw materials and finished products got disrupted due to travel restriction. The import and export activities are suspended. The sales of vehicles are decline which affects the growth of automotive shielding market.
For more details, visit: Global Automotive Shielding Market By Material Type (Metallic and Non-metallic), By Shielding Type (Heat and EMI), By Heat Application, By EMI Application, By Vehicle Type, By Region, Forecast & Opportunities to 2026
The production of vehicle is increasing across the world and the demand for fuel efficient vehicle is increasing across the world. The government has implemented stringent emission policies and the electrification of vehicles is increasing. The adoptions of electronics is increasing which increases the demand for automotive shielding and drives growth in automotive shielding market during forecast period.
On the basis of shielding type, the automotive shielding market is segmented into heat shielding and EMI shielding. The heat shielding segment is estimated to hold largest market share during forecast period. The heat shield is used in the exhaust system, engine compartment, turbocharger and other component in vehicle. The vehicle production is increasing which increases the demand for heat shield. The commercial vehicle is rapidly adopting heat shield which increases market growth for heat shield. The demand for commercial vehicle is increasing across the globe which increases demand for heat shield. This drives growth in heat shield segment during forecast period.
On the basis of vehicle type, the automotive shielding market is segmented into passenger car, light commercial vehicle and heavy commercial vehicle. The passenger car segment is estimated to dominate the market during forecast period. The demand for fuel-efficient vehicles is increasing as the government has implemented stringent emission norms. This increases demand for passenger car segment. The advancement of technologies increases the use of electronic components in vehicles which require shielding in order to protect components. This drives growth in passenger car segment during forecast period.
On the basis of material type, the automotive shielding market is segmented into metallic and non-metallic. The metallic segment is estimated to register growth at higher CAGR during forecast period. The metallic segment has high temperature tolerance in the exhaust system and the engine. The metallic segment has high strength and it is more preferred in automotive shielding segment. This drives growth in metallic segment during forecast period.
Asia-Pacific region is estimated to hold largest share during forecast period. The development of connected mobility and intelligent transport systems is increasing in various countries such as Japan and China. The government is planning to install active measures to reduce pollution levels in this region. This region is adopting 5G technology rapidly and the adoption of vehicles is also increasing which increases the demand for automotive shielding and drives growth in Asia-Pacific region during forecast period.
The key market players in automotive shielding industry are Tenneco INC, Laird PLC, Henkel, Morgan Advanced Materials, Dana Incorporated, 3M, Parker Hannifin, KGS Kitagawa Industries Co., Tech-Etch INC., Elringklinger AG, Autoneum, Marian, RTP Company, Federal-Mogul, Schaffner Holding and KGaA.
- What are the expected industry trends over the next three to five years?
- Which of the automotive shielding material type is likely to lead by 2025?
- Which of the vehicle type segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?