The analysts forecast global automotive heat shield market to grow at a CAGR of 3.07 % during the period 2018-2022. The latest trend gaining momentum in the market is Multiple uses of heat shields.
A heat shield act as a protection mechanism for vehicle components.
Apart from their primary application, they also add to the performance output of vehicle engines. Generally used for under-the bonnet applications, heat shields are currently used at various points in a vehicle.
A heat shield comes in multiple sizes and design specifications.
Major key players in the global automotive heat shield market: Autoneum, Dana, DowDuPont, Federal -Mogul, Heatshield Products, and Lydall
According to the automotive heat shield market report, one of the major drivers for this market is Growing penetration of energy-efficient technologies in automobiles. Of late, the global automotive market has been witnessing an increased use of energy-efficient technologies that boost the performance of a vehicle.
The existing automakers are leveraging their inhouse capabilities to optimum use. The growing competition among automakers has led to the increased adoption of energy-efficient technologies in automobiles.
This increases the rate of adoption of heat shields in automobiles, which, in turn, positively impacts the growth of the global automotive heat shield market.
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Further, the automotive heat shield market report states that one of the major factors hindering the growth of this market is High prices of aluminium and Kevlar fibers. Heat shields are made of materials such as steel, Kevlar synthetic fiber, and aluminum, among others.
Different heat shield barriers are adopted by automakers based on the vehicle segment and price. High prices associated with Kevlar and aluminum negatively impact the growth of the global automotive heat shield market.
High prices of raw materials contribute to increased product costs. This might lead to a decline in demand for automotive heat shields during the forecast period.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?