The automotive heatshield market is projected to foresee commendable growth in coming years due to surging need for lightweight automotive heatshields that are deemed to be one of the effective thermal insulation solutions. Likewise, focus towards fuel efficient products will favor the market growth over the coming years.
A good heat shield must have high thermal emittance as well as thermal resistance, so that it could bear extremely high temperatures, thereby, reflecting and releasing the heat away from itself. Today, heat shield installation is considered as one of the most extensively used heat management choice due to cost-effectiveness and its easy fitting. In addition, a car heat shield could be an essential tool for protecting key components and bodywork from heat damage.
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As per a Global Market Insights, Inc., research report, automotive heatshield market is slated to surpass a valuation of $2.5 billion by 2026.
With the rising presence of automotive manufacturers, key market players are focusing on increasing their customer base and gaining a competitive edge in the market. To that end, the industry is witnessing numerous strategic initiatives such as partnerships, acquisitions and mergers, with other key players. Citing an instance, in January 2020, Peterbilt Motors Company, renowned manufacturing company, and Dana Incorporated, worldwide leader in drivetrain and e-Propulsion systems, reportedly announced their collaboration on electric powertrain development.
Peterbilt would further incorporate Dana’s e-propulsion system into its battery electric model 220EV. The truck would be equipped with an on-board charger and two battery packs as well. The collaborations would further deliver highly efficient solutions for electric vehicles.
The COVID-19 outbreak has had a major impact on the global economy and the manufacturing and automotive production sectors. Imposition of nationwide lockdowns and strict social distancing measures had made it difficult for the workforce to make their presence felt. The shutdowns of manufacturing plants along with temporary halts in the production units have had a negative impact on the demand for automotive heatshield.
However, with several economies gradually lifting the lockdowns, a steady recovery trend is expected to be seen in the upcoming time and the Automotive Heatshield Market may be showcasing a decent jump in revenues.
In terms of sales channel, the aftermarket segment will witness around 4% CAGR over the forecast time period. This anticipated growth is ascribed to heatshields that stop nearly 70% radiant heat generated by the vehicle. Due to intense heat generation, the product has a reasonable replacement rate.
The segmental growth can also be attributed to the fact that aftermarket suppliers focus on delivering premium product quality at reasonable prices, pertaining to the consumer preference towards quality & cost. With cost-effectiveness being one of the key consideration factors for customers, aftermarket segment is anticipated to depict substantial growth in the years to come.
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On the geographical front, Europe Automotive Heatshield Market will witness substantial growth over the coming years. The region, in 2019, accounted for over 25% of the global industry share. Europe automotive heatshield industry growth can mainly be attributed to the surging automotive production. Countries such as Russia, Spain, and Germany boast of substantial automotive production across Europe. Subsequently, high usage of advanced technologies like compact engine and turbocharger across the region will drive the regional market growth.
Autoneum Holding AG, Elringklinger AG, Frenzelit, Morgan Advanced Material, DuPont, and Dana Limited among many others are some of the key players operating in the automotive heatshield market.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.1. Market definitions
1.2. Base estimation & working
1.2.1. North America
1.2.3. Asia Pacific (APAC)
1.2.4. Latin America (LATAM)
1.2.5. Middle East & Africa (MEA)
1.3. Forecast calculations
1.3.1. COVID-19 impact calculations on industry forecast
1.4. Data Sources
Chapter 2. Automotive Heatshield Market Summary
2.1. Global automotive heatshields industry 360° synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. Vehicle type trends
2.1.3. Material type trends
2.1.4. Application trends
2.1.5. Sales Channel
2.1.6. Regional trends
Chapter 3. Automotive Heatshield Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.2.1. COVID-19 impact on automotive heatshields industry
3.3. Industry ecosystem analysis
3.3.1. Raw material supply
3.3.2. Value addition at each stage
3.3.3. Vendor matrix
184.108.40.206. List of key raw material suppliers
220.127.116.11. List of key automotive heatshields manufactures
18.104.22.168. List of key/potential customers
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-heatshield-market