Press release
Automotive Shielding Market Set to Reach $29.63 Billion by 2030
Automotive Shielding Market
The global automotive shielding market is projected to reach approximately $29.63 billion by 2030, driven by increasing vehicle usage, heightened environmental awareness, and a surge in demand for electric and luxury vehicles.
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Market Growth Drivers & Opportunities
Several key factors are propelling the automotive shielding market forward:
Rise in Vehicle Electrification: The shift towards electric vehicles (EVs) necessitates advanced shielding solutions to protect electronic components from electromagnetic interference (EMI) and manage heat dissipation effectively.
Stringent Emission Regulations: Governments worldwide are implementing rigorous emission standards, prompting manufacturers to adopt shielding technologies that enhance fuel efficiency and reduce emissions.
Technological Advancements in Connectivity: Modern vehicles are increasingly equipped with infotainment systems, advanced driver assistance systems (ADAS), and electronic control modules, all requiring effective shielding to ensure optimal performance and safety.
Growing Demand for Luxury Vehicles: The luxury vehicle segment, characterized by advanced electronic systems, is expanding, thereby increasing the need for sophisticated shielding solutions.
Segmentation Analysis
The automotive shielding market is segmented based on vehicle type, shielding type, heat application, EMI application, and material.
By Vehicle Type: The market caters to passenger cars, commercial vehicles, and electric vehicles. The passenger car segment dominates due to rising personal mobility, increasing per capita income, and improved lifestyles.
By Shielding Type: The market is divided into EMI shielding and heat shielding. EMI shielding is crucial for protecting electronic components from electromagnetic interference, while heat shielding prevents overheating by dissipating or reflecting heat.
By Heat Application: Shielding solutions are applied in engine compartments, turbochargers, and exhaust systems to manage heat effectively and ensure component longevity.
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By EMI Application: Applications include infotainment systems, ADAS, electronic control modules, and other electronic systems that require protection from electromagnetic disturbances.
By Material: Materials used for shielding include metallic shields, known for their superior strength and ability to withstand high temperatures, and non-metallic shields, which offer flexibility and lightweight properties.
Country-Level Analysis
United States: As a leader in North America, the U.S. automotive shielding market benefits from a large consumer base and strong demand in the end-user industry. The economy's anticipated growth is expected to drive demand across various automotive shielding segments.
Germany: Germany's resilient automotive industry is adapting to evolving market dynamics. Post-pandemic recovery and a focus on eco-friendly solutions present significant opportunities for companies embracing sustainable practices.
China: China's automotive shielding market is expanding rapidly, driven by continuous investment in technological advancements and a robust supply chain. The country's strategic location and growing consumer demand make it an attractive hub for both domestic and multinational manufacturers.
India: With a burgeoning population and rising middle class, India offers a vast consumer market. Rapid urbanization and evolving lifestyles create avenues for new consumption patterns and preferences within the automotive shielding market.
Japan: Japan's automotive shielding market exhibits a forward-looking perspective with strategic plans for growth in a changing environment. Companies are aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge.
Competitor Analysis
The automotive shielding market is characterized by intense competition, with key multinational players occupying significant market shares. Notable companies include:
Federal-Mogul: A leading supplier of products and services to global manufacturers of vehicles and equipment.
Laird PLC: Specializes in providing systems, components, and solutions that protect electronics from electromagnetic interference and heat.
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Morgan Advanced Materials: Offers high-performance materials and solutions for advanced shielding applications.
ElringKlinger AG: Develops and supplies shielding technology solutions for engines, transmissions, and exhaust systems.
Dana Incorporated: Provides thermal management and sealing solutions for the automotive industry.
Other prominent players include Schaffner, Henkel, 3M, Chomerics, Kitagawa, Tech-Etch, Marian Inc, RTP, Autoneum, and Progress-Werk Oberkirch. These companies are focusing on brand portfolio expansion, mergers, collaborations, and acquisitions to strengthen their market positions. For instance, in 2022, FEV acquired 100% of shares in B&W Fahrzeugentwicklung, enhancing its capabilities in automotive engineering services.
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