Automotive Shielding Market to Register Substantial Expansion by 2025
The Automotive Shielding Market
is projected to grow at a CAGR of 7.33% during the forecast period, to reach USD
12.24 billion by 2025. The rising demand for luxury and commercial vehicles,
rising electromagnetic compliance requirements, and increasing sales of
electric vehicles have led to an increase in the demand for automotive
shielding.
Automotive
shielding helps to increase fuel efficiency and reduces emissions. The Automotive
Shielding Market is divided into two
parts—heat shields and EMI shields. The heat shield protects the vehicle body
and other components from excessive heat generated by the internal combustion
engine and the exhaust system of the vehicle. Whereas, EMI shields are used in
electronic devices to eliminate electromagnetic interference (EMI). Electromagnetic
interference (EMI) is the disturbance created by external sources such as
electronic devices, which affects the electrical circuitry.
Technological
advancements and regulations to reduce emissions have increased the number of
electronic systems in a vehicle, which in turn has increased the emission of
EMI. Manufacturers are using board-level shielding to eliminate excess EMI in a
vehicle. Although shielding has been used in vehicles since long, component
reliability is considered to be an important factor in the selection of the
method of shielding.
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Asia Pacific is estimated to
be the fastest growing market for automotive shielding. The market growth in
the region can be attributed to the increased vehicle production, growing
automotive safety concerns, and the high
demand for luxury vehicles in Japan, India, China, and South Korea. Also, the
production expansions made by automobile manufacturers to meet the rising
consumer demand globally, increasing use of advanced electronics, and growing
demand for fuel-efficient vehicles are expected to boost the Automotive
Shielding Market in the region.
The heat
shielding segment is estimated to be the largest market. The key factor
contributing to the overall growth of the heat shields is the increasing demand
for commercial vehicles in countries such as the US, China, Japan, Germany, and
many others. These vehicles have a high temperature in components such as the
engine and exhaust, which drives the demand for heat shields.
The market growth
in the passenger car segment can be attributed
to high vehicle production of passenger cars, rising demand for fuel-efficient
vehicles, increasingly stringent emission norms, and increased use of advanced
technologies and electronic components. High demand for personal mobility,
increasing per capita income, and improved lifestyle are driving the sales of passenger cars.
The adoption of advanced
technologies continues to be high for passenger cars in comparison to
commercial vehicles at its
Gigafactory in Nevada, US. Hence, developments and innovations in the field of
battery technology are expected to boost the market for automotive shielding in
BEVs.
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Key Players:
The Automotive
Shielding Market is dominated by a few global players and several regional
players. Some of the key manufacturers operating in the market are Laird
(UK), ElringKlinger (Germany), Federal-Mogul (US), Morgan Advanced Materials
(UK), Dana (US), Henkel (Germany), Kitagawa (Japan), and Schaffner
(Switzerland) among others.
Target Audience
- Automotive OEMs
- Companies operating in the automotive shielding ecosystem
- Country-level governments and other policymakers
- Country-level industry associations and experts
- Distributors and suppliers of automotive shielding components
- Electric vehicle manufacturers
- Manufacturers of automotive shielding components
- Manufacturers of automotive shielding
- Raw material manufacturers
- Raw material suppliers
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