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Heat Shield Market Estimated to Reach $4.3 Billion by 2026

admin by admin
February 11, 2022
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(EMAILWIRE.COM, February 11, 2022 ) Heat Shield Market is estimated to witness $4.3 billion by 2026 with a CAGR 4.96% during the forecast period 2021-2026. Heat shields are utilised to protect the device’s parts against the heat from their sources. The constant increase in the automotive sector and the number of temperature-sensitive components in the modern car is boosting the demand for the Metallic heat shield. Moreover, integration and customization of heat shields with advanced technologies has been able to ensure new and innovative heat shielding components for Plug in Hybrid Electric Vehicle and an increase in production of Hybrid electric vehicle is driving the Heat Shield Market size. In addition, increasing disposable income and the rise in consumer preference towards luxury vehicles are factors propelling the Heat shield Industry.

Heat Shield Market Segment Analysis- By Type

Rigid Heat Shield held major share of 58.1% in 2020. It is lightweight, corrugated aluminium construction used to protect heat-sensitive electronics and materials under hood in automotive applications. Moreover, weight reduction has become an increasingly important enabler for improving fuel economy and lowering emissions. As a result, the competitive application of engine reduction policies, as well as the proliferation of turbo loads, create a need for thermal management products that are more effective and easier to use in order to protect heat-sensitive electronics and materials. Thus such factors are estimated to drive the market.

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Heat Shield Market Segment Analysis – By Application

Automotive segment is estimated to witness substantial growth with a CAGR of 5.18% over the forecasted period as most of Heat shields are important for luxury cars as they have high-performance engines and protect heat sensitive components. And as a result of increased demand for luxury cars, the market for heat shields is projected to propel. Moreover, technological advancement in the heat shield is driving market demand. For example, in 2020 Florida State University College of Engineering researchers began developing a heat shield design that better protects the aircraft structures. As flight systems become more and more moderate, even reaching hypersonic systems that travel at 5 times the speed of sound, a much better thermal protection system is required; thus, due to such innovation, it can achieve such protection level and boost market demand for heat shield.

Heat Shield Market Segment Analysis – By Geography

Asia-Pacific is estimated to witness largest share 30.1% in heat shield market share followed by North America owing to the high rate of automotive production as well as rise in disposable income and increased use of advanced electronics in the countries such as Japan, South Korea, India, and China. Moreover, rise in industrialization, availability of adequate amount of raw material and labour force as well as proper transportation are the major factor driving the heat shield market in APAC region. The demand for luxury cars has increased rapidly in the last five years in countries like India, China and Japan. Luxury cars have become a symbol of consumer predilection, creating more demand. In the luxury car market, China has seen the highest growth. As these cars generate more heat it requires head shield more frequently and thus boosting the demand for such head shield to protect the components. In 2019 Thermo-Tec’s heat barrier products have been integrated into the Rogue Series, and the applications range from T3 and T4 turbocharger covers, to pipe shields and exhaust wrap. This integration is set to boost the market demand

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Heat Shield Market Segment Analysis Drivers

Technological advancement in vehicle

The introduction of turbo chargers in vehicles has increased the demand for heat shields, as these heat shields are used to resist heat from the sensitive components of such vehicles. Moreover the need for engine downsizing in smaller vehicles to meet emission standards is forcing automakers to turbocharge even entry-level vehicles and thus the rapid growth of turbocharged vehicles, particularly in fast-growing countries such as China and India, is expected to drive the heat shield market at a higher pace.

Increase engine power

Heat shields are designed to improve engine performance by lowering engine air intake temperature. It has been discovered that lower the intake temp the more power the engine can make and to lower such temperature heat shields are utilized. The rising awareness to improve engine performance and fuel efficiency is driving the heat shield market demand. The use of Heat Shields in conjunction with air filters can completely isolate the air filter from the engine bay and exhaust heat, improving engine performance. As a result of these factors, the demand for heat shields is projected to propel in the forecasted period.

Heat Shield Market Segment Analysis Challenges

High cost of material

High cost and replacement are the biggest impediment in the marketing of heat shields. Generally, they consumers don’t wish to replace heating shields as consumers they exit their budget. The aftermarket for this heat shield tends to be more expensive as the installation cost also get higher.

Heat Shield Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Solar Cell Fabric market. Heat Shield top 10 companies – Autoneum Holding AG, Happich GmbH, Dana Holding Corporation, Federal Mogul Holding Corporation, Elringklinger AG, Lydall Inc., UGN Inc., ThermoTec Automotive, Zircotec, Morgan Advanced Materials, Progress-Werk Oberkirch AG, Talbros Automotive Components Ltd.

Acquisitions/Technology Launches

In 2021 ZircoFlex SHIELD was introduced by Zircotec. According to the manufacturer, ZircoFlex SHIELD outperforms competing heat-shield products in terms of thermal performance while weighing 40% less and taking up 46% less space, this introduction by Zircotec is estimated to gain the market demand.

In 2020 Talbros Automotive Components Limited has signed a Technical Assistance Agreement with Sanwa Packing Industry Co. Ltd for Light Weight Aluminium Heat Shields and is projected to boost the market demand. As this will be used in automotive applications and is a cutting-edge product technology that provides value-added features such as noise reduction, emission control, and heat insulation at high temperatures.

Key Takeaways

Automotive segment is estimated to witness substantial growth over the forecasted period owing to the rising demand for luxury cars, to protect the heat sensitive components from heat generated by it due to high performance engine. Thus heat shield is used thereby boosting the market demand.

Asia-Pacific is estimated to witness largest heat shield market share followed by North America owing to the high rate of automotive production and the presence of manufacturers.

Related Reports:

A. Automotive Shielding Market

https://www.industryarc.com/Research/Automotive-Shielding-Market-Research-501021

B. Automotive Heat Shield Global Market

https://www.industryarc.com/Research/Automotive-Heat-Shield–Global-Market-Research-510542

For more Automotive Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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