Aluminum Heat Shield Market Size, Share 2022, Impressive Industry Growth Report 2028

The global aluminum heat shield market is anticipated to grow at a significant CAGR of 3.7% during the forecast period 2022-2028.

Aluminum heat shields are primarily used to prevent an automobile's engine from overheating when travelling at high speeds. They are made up of thick metal plates that cover and insulate the underside of the hood of an automobile. Some of the primary drivers of growth are rising demand for electric automobiles. According to IEA's Global EV Outlook 2020, electric car sales surpassed 2.1 million globally in 2019, surpassing 2018 - already a record year - to bring the total number of electric cars on the road to 7.2 million. In 2019, electric cars accounted for 2.6% of the total auto sales globally and around 1% of global car stock, representing a 40% rise year over year.

(Get 15% Discount on Buying this Report)
A full report of Global Aluminum Heat Shield Market is available at: https://orionmarketreports.com/aluminum-heat-shield-market/96038/

The market is segmented based on type and application. Based on the type, the market is sub-segmented into aluminum & steel and aluminum & magnesium. Based on application, the market is sub-segmented into automotive, household appliances, and others. Among these applications, the automotive segment is anticipated to hold a prominent share in the market due to the increase in demand for electric vehicles globally. Because of its low cost (25%) and outstanding corrosion resistance features, the global aluminum heat shield market is predicted to develop rapidly throughout the forecast period. The thermal insulation qualities of aluminum in these shields safeguard automotive engines by dispersing heat away from essential components such as exhaust manifolds, turbochargers, radiators, and transmission fluid coolers. These materials also offer good corrosion resistance, which prevents rusting in areas where fluids such as oil or water are accidentally splashed on them.

Some major players in the market include Dana Holding Corp., Lydall Inc., ELRINGKLINGER Inc., Thermotec automotive products Ltd., and Zircotec Inc. among others. The market players are helping significantly in the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay in the competition of the market. For instance, JBC Technologies works with OEMs to supply them with thermal and acoustical heat shields such as dash insulators, tunnel absorbers, hood liners, and wheelhouse inner absorbers, to mention a few. They specialize in thin-gauge flexible aluminum fabrication and have the application knowledge and technical competence to suit design and manufacturing needs. The technical staff can assist in integrating the aluminum foil heat shield with the components to achieve the ideal balance of thermal and acoustic performance for any vehicle.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Dana Holding Corp., Lydall Inc., ELRINGKLINGER Inc., Thermotec Automotive Products Ltd., and Zircotec Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Aluminum Heat Shield Market Report by Segment

By Type
• Aluminum & Steel
• Aluminum & Magnesium

By Application
• Automotive
• Household Appliances
• Others

Media Contact:

Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404

About Us:

Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.