Market Analysis
The global Automotive shield market size will develop at a healthy 6% CAGR between the forecast period 2022- 2030, according to the new Market Research Future (MRFR) analysis. Automotive shield, simply put, is a method that helps to protect the automotive components through heat insulating materials. Various factors are fueling the global Automotive shield market share.
According to the recent MRFR market estimates, such factors include the compliance towards fuel efficiency standards, adoption of electronics-based driving safety and comfort systems, mounting technological advancements, growing introduction of semi-autonomous and autonomous cars, increasing sales of electric vehicle, unprecedented increase in vehicle production, need for fuel-efficient cars, strict emission protocols, demand for autonomous driving, rising electrification of cars, growing adoption of high end electronics, and growing demand for commercial and luxury cars, considerations of safety features.On the contrary, minimization of EMI in cars and the COVID-19 impact may deter the global Automotive shield market growth over the forecast period.
Regional Analysis
By region, the global Automotive shield market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period. Rise in vehicle production, growing safety concerns, increasing need for premium cars in India and China, various safety features applied on cars by the government, high demand for luxury cars, the rapid development of smart transportation systems and connected mobility, the advancement of communication technologies in cars, several smart mobility projects, increasing adoption by OEMs, active measures and stringent emission norms by the government to curb rising pollution levels, the inclination for high fuel efficiency, demand for greater performance of cars, and the upcoming 5G-based intelligent transportation demonstration project are adding to the global Automotive shield market growth in the region. South Korea, India, Japan, and China have the maximum share in the market.
In North America, the global Automotive shield market is predicted to have healthy growth over the forecast period. Increasing concern for automotive safety is adding to the global Automotive shield market growth in the region.
In Europe, the global Automotive shield market is predicted to have sound growth over the forecast period. Rapid technological advances, use of high mobility logistic trucks, use of advanced driver assistance systems, strict emission norms by the government to curb the growing emission levels, mandatory use of unique interior systems and advanced safety features to increase the safety and fuel efficiency of cars, and the presence of several top automotive manufacturing companies are adding to the global Automotive shield market growth in the region.
In the Rest of the World, the global Automotive shield market is predicted to have steady growth over the forecast period for rising vehicle production and favorable government policies.
Competitive Landscape
Key players profiled in the Automotive shield market report include Progress-WerkOberkirch AG (Germany), Autoneum (Switzerland), Schaffner Holding (Switzerland), Kitagawa Europe (Japan), KGaA (Germany), Henkel AG & Company, Dana Limited (US), Morgan Advanced Materials (UK), Federal-Mogul Corporation (US), ElringKlinger AG (Germany), and Laird PLC (UK), among others.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global Automotive shield market based on vehicle type, material type, EMI application, heat application, and shielding type.
By type, the global Automotive shield market is segmented into EMI shielding and heat shielding. Of these, the heat shielding segment will lead the market over the forecast period.
By heat application, the global Automotive shield market is segmented into turbocharger, exhaust system, and engine compartment.
By EMI application, the global Automotive shield market is segmented into land departure warning, electric motor, forward collision warning, engine control module, intelligent park assist, and adaptive cruise control.
By material type, the global Automotive shield market is segmented into non-metallic shield and metallic shield. Of these, the metallic shield segment will spearhead the market over the forecast period.
By vehicle type, the Automotive shield market has been segmented into heavy commercial vehicle, light commercial vehicle, and passenger. Of these, the passenger car segment will command the largest share in the market over the forecast period.
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