Automotive Heat Shields Market 7.21% CAGR WITH Top 10 Players as Elringklinger Ag, Autoneum Holding, Dana Incorporated, Lydall

The global automotive heat shields market is anticipated to record a CAGR of 7.21% during the forecast period of 2018 - 2023. The increase in the production of automobiles and the rising concern towards safety and security are the crucial elements influencing the growth of the heat shield market.

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High Cost of Heat Shields in Aftermarket and Emergence of Electric Vehicles are the Challenges in the Market Growth

The key restraint for the market is the factor that the replacement part is overpriced, and the exhaust system has to be possibly removed to fit the new heat shield. The aftermarket prices for the automotive heat shields are 1.5 times more than OEM prices of the same. Although, it is recommended to change the heat shields every 100,000 to 150,000 kilometers, many car owners do not generally prefer to replace the old one with a new heat shield, owing to the price or lack of awareness.

The South American region is predicted to show the highest growth rate, but a mild slowdown in the European and North American region, owing to the increase in preferences of electric vehicles could bring down the growth rate slightly.

Key Developments in the Market:

August 2018: Lydall, Inc. announced plans to form Lydall Thermal/Acoustical Solutions through the combination of its existing Thermal/Acoustical Metals and Thermal/Acoustical Fiber businesses, to successfully meet increasing demands of reduce noise, heat, vibration and harshness across automotive and industrial platforms globally.

Major Players:

ELRINGKLINGER AG, AUTONEUM HOLDING, DANA INCORPORATED, LYDALL, INC., amongst others.

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Light Weight Heat Shields Gaining Popularity in the Auto Industry

Modern day cars demand reduced and confined space, increased power, and a decrease in weight and hence, the heat shields should necessarily be of light weight and low density. The weight of the vehicle has become such a strong factor that some manufacturers, such as Land Rover have started making automobiles majorly out of light materials like aluminum to cut down on weight.

The growing population, improved economic conditions, easy credit are few factors involved in increasing the number of motor vehicles globally. All of the cars with an engine capacity of more than 1.6-litre contain heat shields and hence, the market of automotive heat shields is growing rapidly. The global luxury car sales grew by 15% from 2015 to 2016, thereby, increased the number of 1.6-litre engine vehicles further driving the automotive heat shields market.

The market for other type of heat shields (which comprises of turbocharged engine equipped vehicles, under body heat shields and under bonnet heat shields) is expected to show the highest CAGR in the market on account of rising sales of luxury vehicles, engine downsizing, the increasing adoption of heat shields in the mid-segment cars and increasing turbocharger.

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This release was published on openPR.