The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Automotive Heat Shield Global Market Report 2024, the automotive heat shield market is expected to show significant growth in the forecast period.

Current Market Trends and Growth Figures

• The automotive heat shield market has experienced robust growth recently.
• Market size increased from $14.17 billion in 2023 to $15.06 billion in 2024.
• Compounded Annual Growth Rate (CAGR) stands at 6.3%.
• Factors attributing to historic growth include concerns over engine efficiency, emission regulations, material advancements, and performance demands.

Forecasts and Future Expectations

• Strong growth expected in the automotive heat shield market, projecting a size of $19.65 billion by 2028.
• Anticipated CAGR of 6.9%.
• Forecasted growth driven by electric vehicle proliferation, autonomous vehicles, global climate concerns, and advanced manufacturing techniques.
• Major trends in the forecast period include integration of smart technologies, customization and personalization, and sustainable solutions.

Trends Shaping the Market

Increasing Focus On Lightweight Materials For Heat Shield Manufacturing

• Growing emphasis on lightweight heat shields contributes to market expansion.
• Lightweight materials reduce vehicle weight, enhancing efficiency.
• A 10% reduction in vehicle weight can save up to 6-8% of fuel, according to the Office of Energy Efficiency & Renewables Energy.
• Use of lightweight components and efficient engines could save up to 5 billion gallons of fuel annually by 2030.
• Melamine foam-based heat shields offer thermal protection up to 1000 °F and are 98% reflective, driving market growth.
• Notable companies in this segment include Autoneum Nittoku Pvt. Ltd., Dana Incorporated, Lydall Inc., among others.

Development Of Soundproof Heat Shields

• Soundproof heat shields increasingly employed to meet government regulations for noise reduction.
• Autoneum’s RIMIC technology transforms airborne sound into thermal energy, absorbing it effectively.
• Can absorb high-frequency sounds ranging from 2-6 kHz.
• Leading car manufacturers like BMW, Mercedes Benz, and Volvo utilize these heat shields.
• Autoneum’s acquisition of Borgers Automotive in April 2023 expands its portfolio in sustainable product manufacturing.

Market Segmentation

• Segmented by Material Type: Metallic, Non-metallic
• Segmented by Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
• Segmented by Product Type: Single Shell, Double Shell, Sandwich
• Segmented by Application: Exhaust System Heat Shield, Turbocharger Heat Shield, Under Bonnet Heat Shield, Engine Compartment Heat Shield, Under Chassis
• Segmented by Sales Channel: OEM, Aftermarket

Regional Insights

Asia-Pacific Dominance

• Asia-Pacific emerged as the largest region in the automotive heat shield market in 2023.
• The region’s burgeoning automotive industry and manufacturing capabilities contribute to its dominance.

View More On The Automotive Heat Shield Market Report 2024 – https://www.thebusinessresearchcompany.com/report/automotive-heat-shield-global-market-report

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The Automotive Heat Shield Global Market Report 2024  provides an in-depth analysis on the automotive heat shield market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the automotive heat shield market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Automotive Exhaust Systems Global Market Report 2024

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