The global automotive shielding market size is projected to grow from USD 20.2 billion in 2020 to USD 24.7 billion by 2025, at a CAGR of 4.1%. Compliance towards fuel efficiency standards and the adoption of electronics-based driving comfort & safety systems will drive the market for automotive shielding.
The passenger car segment is expected to be the largest automotive shielding market during the forecast period
The passenger car segment holds the largest market share, by vehicle type. The rising demand for fuel-efficient vehicles coupled with the increasing stringency of emission norms has propelled the growth of the passenger car segment in the heat shield market. On the other hand, advanced technologies and increased use of electronic components in vehicles are driving the demand for EMI shielding.
High demand for personal mobility, increasing per capita income, and improved lifestyle have enhanced the sales of passenger cars. The adoption of advanced technologies continues to be high in this vehicle segment due to the higher production and sales of passenger cars worldwide in comparison to commercial vehicles. In particular, manufacturers are focusing on luxury passenger vehicles that are equipped with advanced features such as advanced driver assistance systems, advanced instrument clusters, and others. The increasing number of advanced features has boosted the demand for EMI shields to avoid interference among electronic devices.
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Heat shielding will have a major share in the automotive shielding market during the forecast period
Heat shields are used in the engine compartment, exhaust system, turbocharger, and many other applications in a vehicle. The increase in vehicle production worldwide is driving the growth of the heat shield segment. Although the electrification of vehicles can negatively impact the heat shield segment, the demand for heat shields will continue to grow in the commercial vehicle segment. The increasing demand for commercial vehicles in countries such as the US, China, India, Brazil, Japan, Germany, and others has contributed to the growth of heat shields. These vehicles have a high temperature in components such as the engine and exhaust, which drives the demand for heat shields.
Key Market Players
The global automotive shielding market is dominated by major players such as Tenneco Inc (US), Laird (UK), Henkel (Germany), Dana Incorporated (US), and Morgan Advanced Materials (UK), 3M (US), Parker Hannifin (Chomerics) (US), and KGS KITAGAWA INDUSTRIES CO (Japan). These companies have secure distribution networks at a global level. Also, these manufacturers offer a wide range of heat and EMI shielding systems for various applications. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements.
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