Dublin, Sept. 23, 2021 (GLOBE NEWSWIRE) -- The "North America Automotive Heat Shield Market Size, Share & Trends Analysis Report by Product, by Application, by Material, by Vehicle-type, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The North America automotive heat shield market size is expected to reach USD 2.60 billion by 2028, expanding at a CAGR of 3.6%
Increasing adoption of electric vehicles coupled with need for improved thermal management in the IC engines to boost engine efficiency is expected to propel demand for the automotive heat shields in the coming years.
The increased adoption of electric and hybrid electric vehicles is one of the prime factors likely to contribute to the growth of the market over the forecast period. For instance, in 2019, the U.S. electric car manufacturer Tesla delivered 367,500 electric vehicles worldwide, whereas, in 2020, the deliveries reached their peak at 509,737globally, with U.S. accounting for 50% of the global sale.
Dana Limited manufactures different types of automotive heat shields including heat shields with integrated gaskets, aluminum, direct insulation, insulated & sound-absorbing heat shields.
Morgan Advanced Materials uses its shell technology and sandwich technology for durable and lightweight automotive heat shields. Its shell technology uses Super wool and glass or silica fiber for high thermal performance solutions.
North America Automotive Heat Shield Market Report Highlights
The single-shell segment dominated the market and accounted for over 55% of market share in 2020 owing to its prevalent use in passenger cars and HCVs. Sandwich heat shields are expected to grow at a CAGR of 4.3% over the forecast period owing to growing use in exhaust pipes and catalytic converters against heat and moisture intrusion of saltwater corrosion.
The engine compartment segment was the largest application and accounted for more than 30% of revenue share in 2020. Automotive heat shield finds vast applications in various parts and components of engine compartment as this space accounts for the maximum heat dissipation.
Non-metallic segment is expected to witness surge in demand, growing at a CAGR of 4.1% over the forecast period owing to manufacturers opting for lightweight products with better thermal efficiency.
The product demand in Mexico is expected to be driven by increasing investments by automotive manufacturers in the region. Mexico has emerged as a manufacturing hub supported by favorable government policies, trade policies, and availability of skilled labor.
Prominent players including Dana Limited, DuPont, Morgan Advanced Materials, Zircotec, and Autoneum are engaged in designing and developing automotive heat shields with different product specifications and technologies.
Market Driver Analysis
Increasing adoption of electric vehicles
Rising adoption of turbochargers in IC automobiles
Market Restraint Analysis
Emission restrictions on IC engines
North America Automotive Heat Shield Market Industry Analysis - Porter's
North America Automotive Heat Shield Market Industry Analysis - PESTEL
Morgan Advanced Materials
Shiloh Industries, Inc.
The Narmco Group
Rochling SE & Co. KG
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