Navigating the Automotive Heat Shielding Market: Analysis, Size, Share, and Forecast Trends
The global automotive heat shielding market is witnessing significant growth driven by various factors such as stringent fuel economy standards in countries like China, Japan, and India, a shift toward lightweight and fuel-efficient vehicles, and the increasing demand for electric vehicles (EVs). Here are some key insights into the current trends and dynamics of the market:
Fuel Efficiency Standards Drive Demand for Heat Shields
The rising fuel economy standards in several countries have compelled Original Equipment Manufacturers (OEMs) to prioritize vehicle efficiency. As a result, there is an increasing demand for vehicles that are both lightweight and fuel-efficient. Between 2012 and 2017, 12 out of 13 OEMs managed to reduce their CO2 emissions, emphasizing the importance of lightweight components like automotive heat shields.
Challenges in the Market
While the demand for heat shields is on the rise, challenges persist. Many drivers are unaware of the need to replace heat shields after every 100,000 to 150,000 kilometers, primarily due to the perceived high cost of replacement parts, especially in the aftermarket. Additionally, the COVID-19 pandemic disrupted production, leading to decreased operating profits and increased input costs, causing a temporary dip in sales.
Opportunities Amidst EV Boom
The growing popularity of electric vehicles (EVs) presents a significant opportunity for the automotive heat shielding market. Government policies encouraging EV adoption, such as the California Zero Emission Vehicle (ZEV) Program, are driving the demand for battery thermal management systems, in turn, boosting the heat shielding market. Collaboration between retail giants like Walmart and automakers further supports this trend.
Demand for Metallic Heat Shields
In North America and Europe, the demand for metallic heat shields remains notably high. These regions are experiencing increased integration of turbochargers, advanced exhaust systems, and automotive electronics, all of which require efficient heat shielding. Metallic heat shields, known for their ability to withstand extreme temperatures and vehicular pollution, are expected to maintain their dominance in the market.
Key Players in the Market
Leading companies in the automotive heat shielding market include Autoneum Holding AG, Morgan Advanced Materials, Carcoustics International GmbH, UGN, Inc., and Dana Incorporated. These companies are actively engaged in partnerships, supply contracts, expansions, and new product developments to strengthen their positions in the market.
For example, Dana Incorporated collaborated with Kenworth to develop e-powertrains for battery EVs, enhancing their thermal management solutions for EVs. Autoneum expanded its production capabilities with two facilities in China dedicated to manufacturing lightweight components for thermal and acoustic management.
As the automotive industry continues to evolve, the automotive heat shielding market is poised for further growth, driven by advancements in vehicle technology and the ongoing pursuit of fuel efficiency and emission reduction goals.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/automotive-heat-shielding-market
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This press release first seen on Brilad