Automotive Shielding Market Size, Share, Growth Report 2023

The global automotive shielding market size was valued at USD 23,851.9 million in 2022 and is poised to grow at a significant CAGR of 4.5% during the forecast period 2023-29. The increase in electronic component used in automotive vehicles, as well as the increase in vehicle production globally, are key factors influencing the growth of the automotive shielding market. Moreover, rising vehicle costs and increased difficulties in component development impede the growth of the automotive shielding industry. Additionally, rising electric car sales and technological advancements are likely to promote the growth of the automotive shielding market. Automotive Shielding market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region.

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The global automotive shielding market segmentation:
1) By Material Type: Metallic Shield, Non-Metallic Shield
2) By Shielding Type: Heat Shielding, EMI Shielding
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
4) By EV Type: BEV, PHEV, HEV, FCEV
5) By Heat Application: Turbocharger, Engine Compartment, Exhaust System
6) By EMI Application: Infotainment, Electric Motor, ECM, ACC, FCW, LDW, IPA

The Passenger Car segment accounted for a significant market share, and it is expected to grow with a considerable CAGR from 2022-2028. During the projected period, the passenger car segment is anticipated to develop significantly, with an 8% increase in both demand and production. The demand for heat shielding for passenger automobiles is increasing due to the rising demand for fuel-efficient vehicles and the rigorous regulatory emission standards. Comparing passenger cars to commercial vehicles, the adoption of modern technology like ADAS, connected cars, advanced infotainment systems, etc. is higher in the former. The demand for EMI shielding for passenger automobiles, especially luxury and high-end vehicles, is increasing as a result of these enhanced features.

Asia Pacific leads Automotive Shielding Market:
In the Asia Pacific, the automotive shielding market holds a significant market share in 2022 and the market is expected to grow at a significant CAGR during the forecast period. Asia Pacific is a highly populous region. The urban population across the Asia Pacific is increasing consistently, which can be attributed to employment opportunities and increased standards of living in urban areas. This market in the area is expected to grow substantially, given the region contains fast-rising economies such as China, Japan, and India. The Asia Pacific market is largely driven by China, where the pace of adoption of automotive electronic systems is strong. This, in turn, is propelling the region's automotive EMI shielding market.

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Key players' profiles in the Automotive Shielding Market report are Tenneco Inc., Laird, Autoneum, 3M, and Marian, Inc., Kitagawa Corporation, ElringKlinger AG, Henkel AG & Co. KGaA, Lydall, Inc., PARKER HANNIFIN CORP, Morgan Advanced Materials, SCHAFFNER HOLDING AG.

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