Heat Shield Market Is Expected To Grow At A CAGR Of 5% By 2022

Market Highlights:
Heat shields are commonly used to protect parts of a device from heat generated by its energy source. It may attach at top of the vehicle or in the car. Rapid growth in automotive industry with the growing number of temperature sensitive components in the modern vehicle, which ultimately increases the demand of heat shield market. Factors such as minimal cooling air flow, tightly packed components and others resulted in high temperature in the engine compartment and across the exhaust system. Lot of countries increasing their spending on defense sector which increase the consumption of firearms also fueling the growth of this market. Raising the safety concern among the consumers also fueling the growth of heat shield market. However, fluctuating cost of raw materials may hamper the growth of heat shield market.

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On the basis of product, heat shield market is segmented as Exhaust Heat Shield Insulation, Turbo heat shield, Spark plug boot heat shield, Thermal & Heat shield sleeving, Fire arm heat shield and others. Exhaust heat shield insulation is dominants the product segment because exhaust heat shields can stop upto 60% of radiant heat from the exhaust system. Exhaust heat shield insulation accounts over 18% share of total revenue generated in 2016.

On basis of region, heat shield market is segmented as North America, Europe, Asia-Pacific, South America and Middle East & Africa. Asia-Pacific region is a major shareholder of the Heat shields market followed by North America. Increasing rate of industrialization & urbanization with increasing demand of commercial and passenger vehicles as well as increasing the disposable income among the individuals ultimately increases the demand of luxury vehicles. These are some factors led this region in Heat Shield market. Asia-Pacific is expected to grow at remarkable pace during the forecast period.

Key Players of Heat Shield Market:
• Morgan Advanced Materials (U.K.)
• Dana Holding Corporation (U.S.)
• Federal Mogul Holding Corporation (U.S.)
• Autoneum Holdings AG (Switzerland)
• Lydall Inc. (U.S.)
• Elringklinger AG (Germany)
• Progress-Werk Oberkirch AG (Germany)
• UGN Inc. (U.S.)
• ThermoTec Automotive (U.S.)
• Zircotec (U.K.)

Scope of the Report:
This study provides an overview of the Heat shields industry, tracking market segments across the categorized five geographic regions. The report provides a six-year forecast for the market size in terms of value for North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The scope of the study segments the Heat shields market based on Material, Product, & End User.

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This release was published on openPR.