Press release
Global Automotive Shielding Market to Reach $24.15 Billion by 2029, Growing at 7.7% CAGR
Automotive Shielding Market Size
The surge in vehicle production is anticipated to fuel the automotive shielding market's expansion. Vehicles, which are machines that carry people or goods and are equipped with an engine and wheels, have been manufactured in increasing numbers in recent years. This is due to the swift urbanization and development of global automobile manufacturers. Since automotive shielding is applied to vehicle's electronic components, a surge in its production equates to a rise in the demand for automotive shielding. For example, the Belgium-based European Automobile Manufacturers' Association reported in August 2024 that new car registrations had experienced a 3.9% increase in the first seven months of 2024, surpassing 6.5 million units. Some of the largest markets in the sector showed encouraging but modest growth, with rises reported in Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%). As a result, the escalating production of vehicles is propelling the automotive shielding market's expansion.
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What is the future CAGR of the automotive shielding market, and how will it impact industry expansion?
The market size for automotive shielding has been experiencing robust growth in the past few years. It's predicted to advance from $16.9 billion in 2024 to $17.97 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. The previous growth can be credited to factors such as electromagnetic interference (EMI) issues, regulatory conformity, safety worries from consumers, enhanced vehicle connectivity, and the worldwide expansion of automotive supply chains.
The automobile shielding industry is anticipated to witness substantial expansion in the upcoming years. The market is projected to increase to $24.15 billion by 2029 with a compound annual growth rate (CAGR) of 7.7%. This growth during the projection period is credited to initiatives aimed at reducing vehicle weight, self-driving cars, vehicle electrification, advanced driving assistance systems (ADAS), and the integration of connectivity in electric vehicles, along with the increasing complexity of vehicles. Among the significant trends anticipated during the forecast period are the incorporation of shielded designs, custom modifications for electrical vehicles, adaptable and compliant shielding, multilayer shielding, and the use of 3d printing for customized shielding.
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What are the most significant trends transforming the automotive shielding market today?
In the automobile shielding industry, the main trend gaining traction is the rise of technological advancements. Prominent firms in this sector are concentrating on the deployment of new technologies as a tactic to solidify their market presence and respond to consumer demands. For instance, Bourns, Inc., an American corporation specializing in the manufacture and supply of electronic components for power management, protection, and sensing applications, launched a new series of semi-shielded power inductors in June 2022. These inductors adhere to AEC-Q200 standards and can withstand a wide temperature range from -40 °C to 150 °C. The SRN8040HA Series from Bourns uses the firm's innovative magnetic silicon-based coating technology, which provides excellent magnetic shielding and facilitates higher operating temperatures.
Which key market segments comprise the automotive shielding market and drive its revenue growth?
The automotive shielding market covered in this report is segmented -
1) By Shielding Type: Heat Shielding, EMI Shielding
2) By Material Type: Metallic, Non-Metallic
3) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
Subsegments:
1) By Heat Shielding: Exhaust Heat Shields, Engine Heat Shields, Underbody Heat Shields, Turbo Heat Shields, Thermal Insulation Materials
2) By EMI Shielding: Conductive Coatings, Shielding Enclosures, EMI Gaskets, Shielding Films, Metal Foils
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What regions are at the forefront of automotive shielding market expansion?
Asia-Pacific was the largest region in the automotive shielding market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive shielding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the automotive shielding market?
Major companies operating in the automotive shielding market include Elringklinger AG, Federal-Mogul Holdings LLC, Laird Performance Materials Inc., Marian Inc., Morgan Advanced Materials Plc, Parker Hannifin Corporation, Schaffner Holding AG, 3M Company, Tech-Etch Inc., Tenneco Inc., Autoneum Holding AG, Kitagawa Industries Co. Ltd., Lydall Inc., Henkel AG & Co. KGaA, Electromagnetic Technologies Industries Inc., ETS-Lindgren Inc., Comtest Engineering Srl, HEICO Corporation, TDK Corporation, TE Connectivity Ltd., Rohde & Schwarz GmbH & Co. KG, RTP Company Inc., Panashield Inc., MG Chemicals, SAS Industries Inc., W. L. Gore & Associates Inc., Henkel Corporation, Zippertubing Company, Cuming Microwave Corporation, Fotofab LLC
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What Is Covered In The Automotive Shielding Global Market Report?
•Market Size Forecast: Examine the automotive shielding market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive shielding market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive shielding market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive shielding market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive shielding market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive shielding market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive shielding market.
•Competitive Landscape: Review strategic developments in the automotive shielding market, including expansions, agreements, and new product launches.
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