Global Automotive Shielding System Market Size By Product, By Application, By Geographic Scope And Forecast

Automotive Shielding System Market Size And Forecast

Automotive Shielding System Market size was valued at USD 10.0 Billion in 2020 and is projected to reachUSD 16.5 Billion by 2028, growing at aCAGR of 6.38% from 2021 to 2028.

As technology progress, the need to install larger numbers of electrical and electronic systems into automobiles has increased. Developing the electrification of vehicles, emission standards, tremendous adoption of high-end electronics, considerations of safety features, and extended vehicle production are some of the significant factors propelling the growth of the Automotive Shielding System Market. The Global Automotive Shielding System Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Shielding System Market Definition

Automotive shielding is a method of protecting automotive components with the help of heat-insulating materials. They are major of two types, namely, heat shields and electromagnetic interference (EMI) shields. Heat shields are used to shield the ingredients from overheating and inhibit heat damage. Compartments of the combustion engine, exhaust systems, under the bonnet, under chassis, and turbochargers are some of the major automotive parts that require heat shielding. A heat shield is produced up of thin sheets of steel, aluminum, or several other composite materials. These heat shields absorb, dispel, or reflect the heat, thereby, reducing the temperatures of the components and helping in the efficient working of the systems.

Whereas, the EMI shields are employed to cover the electronic systems and elements to guard them against cross-connecting and interfering with each other's electromagnetic fields and radiations which is caused owing to their combination into a very small interior area in the vehicle. The widening use of electronic systems and the implementation of technologically advanced systems in automobiles are penetrating the demand for EMI shields in automotive manufacturing. The automotive shields also improve the performance of the vehicle and decrease fuel consumption to a large extent.

Automotive companies are working towards producing high-quality and durable shields to give maximum protection to the systems and components from damages and accidents. Also, the stringent emission control regulations imposed by the government on the automotive OEMs are forcing them to find out new techniques, such as minimizing the engine size, utilizing protective shields, and installing high-efficiency systems to intensify the performance and reduce fuel consumption of vehicles. Automotive shielding finds extensive applications in Passenger cars, Light Commercial Vehicles, and Heavy Commercial Vehicles.

Global Automotive Shielding System Market Overview

Escalating levels of adoption of electrical devices and equipment requiring EMI shielding solutions is a significant factor stimulating the market growth. Also, increasing demand for electronic-based safety systems and conformity toward standards of fuel efficiency, increasing usage of electronic components in automotive vehicles as well as developing vehicle production, and growing stringent emission protocols are driving the global Automotive Shielding System Market. Moreover, more extensive adoption of high-end electronics, growing electrification of vehicles, expanding considerations of safety features, and the accelerating demand for luxury and commercial vehicles are the principal factors advancing the Automotive Shielding System Market.

There are certain restrictions endured that will limit the overall market growth. The factors such as rising complication associated with the development of such products for minimizing the EMI and integration of automotive shielding components increases the overall cost of vehicles which acts as the potential restraints hampering the overall growth of the global Automotive Shielding System Market. Furthermore, growing technological advancements and modernization in the machinery and rising research and development activities in the market will create new lucrative opportunities for the Automotive Shielding System Market in the forecast period. Nevertheless, the improvements in technologies and untapped potential in developing markets offer beneficial growth opportunities.

Global Automotive Shielding System Market: Segmentation Analysis

The Global Automotive Shielding System Market is Segmented on the basis of Product, Application, And Geography.

Automotive Shielding System Market, By Product

• EMI Shielding
• Heat Shielding

Based on Product, the market is bifurcated into EMI Shielding, Heat Shielding. The Heat shielding segment holds the largest market share during the forecast period. Heat shields are employed in the exhaust system, turbocharger, engine compartment, and many other applications in a vehicle. The expansion in vehicle production globally is driving the growth of the heat shield segment.

Automotive Shielding System Market, By Application

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Based on Application, the market is bifurcated into Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle. The passenger car segment holds the largest market share during the forecast period. The factors that can be attributed to the rising demand for fuel-efficient vehicles coupled with the increasing stringency of emission norms, increasing per capita income, and improved lifestyle are fueling the demand for this segment.

Automotive Shielding System Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Geography, the Global Automotive Shielding System Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific holds the largest market share. The rapid development of intelligent transport systems and connected mobility in countries such as China and Japan, and ongoing projects will boost the market in the APAC region.

Key Players

• The "Global Automotive Shielding System Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• Federal-Mogul, Laird, Morgan Advanced Materials, Elringklinger, Dana, Schaffner, Henkel, 3M, Chomerics, Kitagawa, Tech-Etch, Marian.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.