Global Market Study on Automotive Heat Shield: Engine Compartment Application Segment Projected to Gain Significant BPS During 2017-2025


Automotive Heat Shield Market
  • Report code : PMRREP7472 |
  • Industry : Automotive |
  • Published On : Jul-2017 |
  • Pages : 309 Pages |
  • Format :

In this report, we have focused on the strategies of leading players in the global automotive heat shield market and have observed that continuous product innovation is the key strategy to enhance customer base and market share. Similarly, a well-structured and efficient supply chain network is key to reaching out to end consumers. The market has witnessed widespread adoption of safety standards for high-performance cars in developing countries, and manufacturers are focusing on providing a complete range of heat shield products. APAC is anticipated to be an opportunistic market in terms of demand. Companies are expanding their footprint to cater to the demand of luxury and premium automobiles in the APAC region. By value, APAC is estimated to account for the largest share in the global automotive heat shield market. The market in MEA is in the nascent stage, primarily due to low automotive production and vehicle parc. The global automotive heat shield market is significantly fragmented and is characterized by the presence of a number of regional players. While examining the global automotive heat shield market, our analysts have observed that strategic collaborations to gain regional advantage are expected to be a key trend in the future.

Through this new publication, our analysts suggest that manufacturers strengthen their supply chain particularly in regions such as APAC and North America, which are the key focus areas for players in this market. On the other hand, suppliers have been suggested to cater to the specific requirements of automakers, while adhering to high-quality standards of production.  

Research methodology

Our research methodology is comprehensive and exhaustive to ensure accurate forecasting of the market.

  • Product mapping of heat shields and components across the different market segments
  • Breakdown of the overall business into product segments and systems under defined categories
  • Comparison of available products and services of a company with other manufacturers in regional and international markets. Relative benchmarking of the company on the basis of product mapping and regional availability
  • In-depth secondary research to arrive at an overall market size, top industry players, top products and industry associations
  • Validation of data through extensive primary interviews with industry experts and exhaustive secondary research
  • Recording and analyzing overall annual revenue of key manufacturers for 2016 on the basis of annual reports and secondary research
  • Estimation of automotive heat shield sales from overall revenues of key market players

We have also analyzed the various companies’ annual reports, investor presentations, SEC filings and press releases to fetch substantial information on the market size, trends, opportunities, drivers and restraints.

Market Segmentation

By Product Type

  • Single Shell
  • Double Shell
  • Sandwich

By Application

  • Under Chassis
  • Under Bonnet
  • Engine Compartment
  • Exhaust System
  • Turbocharger

By Sales Channel

  • OEM
  • Aftermarket

By Material

  • Non-Metallic
  • Metallic

By Vehicle Type

  • Passenger Car
  • LCV
  • HCV

By Region

  • North America
  • Europe
  • Latin America
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)

Forecast assumptions and market sizing

When developing the market forecast, we have started by sizing the current market, which forms the basis for forecasting how the market is anticipated to perform in future. We have considered the product-wise Weighted Average Selling Price (ASP) to deduce market values at a regional level. We have used the bottom-up approach to assess market numbers for each product category, while top-down approach has been used to counter validate the market estimations. Macroeconomic indicators such as GDP, manufacturing sector growth, global trade statistics and household final expenditure have been considered. All values for market size are indicated in US$ Mn (US Dollar-Million) and volume data is indicated in thousand units.

Engine compartment segment will be a highly attractive application segment in the foreseeable future

The application of automotive heat shields in engine compartments is estimated to account for a substantial market share in 2017 and is expected to maintain its dominance in the global automotive heat shield market throughout the forecast period. The engine compartment and exhaust system heat shield segments are estimated to grow as two highly attractive market segments over the forecast period. In terms of value, the engine compartment segment is projected to bag a prominent market share of around 40% in 2017 and is expected to gain 120 BPS by 2025. The engine compartment segment in the global automotive heat shield market is anticipated to create total incremental opportunity of more than US$ 2,000 Mn between 2017 and 2025. In a case of other application segments, the exhaust system and turbocharger segments are likely to grab more than 20% market share throughout the forecast period.

automotive heat shield market

Rise in demand for high mobility and high-performance vehicles fuels the application of automotive heat shields

The automotive component industry has always been under the scanner of regulatory authorities and is required to adhere to various guidelines issued from time to time. Such regulations existing in the automotive industry compel OEM manufacturers to develop products that are compatible with the present regulatory environment. These regulations also demand lesser vehicle carbon emissions, due to which manufacturers focus on minimizing the engine size by reducing the number of cylinders. Also, in order to maintain the output power of the engine, a boosting device called turbocharger or super charger is added, which is provided with a heat shield for effective operation. Increasing penetration of turbochargers across spark ignition and compression ignition engines is expected to act as a significant factor driving the adoption of automotive heat shields, as turbochargers mandatorily need to be equipped with heat shields.

The application segment of the global automotive heat shield market has witnessed significant growth, which can be attributed to the sales of high-performance cars, both in the OEM & aftermarket segments. High speed and raw power define the performance of these cars, which is why these cars require effective heat shield solutions for ensuring safety. Increasing power and speed increase the heat generated by key components such as engine parts and the exhaust. Automotive heat shields plays a crucial role in preventing heat generation within the interior of the vehicle, thereby ensuring driver safety and enhancing vehicle performance. Luxury and sports models are equipped with efficient and high-quality heat shields to ensure advanced temperature control with less space utilization and enhanced safety and durability of components.

Luxury cars have become obligatory status symbols in society. With stabilizing economies across different regional markets such as the U.S. and Canada, the sales of luxury vehicles is expected to maintain an upward growth trend in the next few years, which in turn is estimated to supplement the growth of the automotive heat shield market, as the amount spent per car on automotive heat shields is significantly high for luxury vehicles. Similarly, in regions such as Latin America and Asia Pacific, agriculture and construction sectors among others are undergoing rapid expansion owing to the reform policies and initiatives under national development programs. Such activities and projects are creating immense demand for various equipment such as tractors, loaders, and tippers. These HMVs are designed with much endurance to perform difficult tasks and have more powerful engines that release more heat for which effective heat shields are required. These factors are creating a positive impact on the global market.

Steady growth in demand for automotive head shields is expected over the forecast period

In terms of value, the global automotive heat shield market is estimated to be valued at more than US$ 9,700 Mn in 2017 and is slated to expand at a CAGR of 5.5% over the forecast period, to be valued at close to US$ 15 Bn by the end of 2025. The global automotive heat shield market is projected to represent incremental opportunity of more than US$ 5,000 Mn between 2017 and 2025.

Company Profiles

  • Federal-Mogul Corporation
  • Progress-Werk Oberkirch AG
  • Dana Holding Corporation
  • Talbros Automotive Components Ltd.
  • ElringKlinger AG
  • Sumitomo Riko Company Limited
  • LYDALL INC
  • Morgan Advanced Materials Plc.
  • AUTONEUM HOLDING AG.
  • Carcoustics International GmbH
  • Datsons Engineering Works Private Limited
  • J&S GmbH Automotive Technology
  • ACS Industries, Inc.
  • Happich Gmbh
  • Heat Shield Products Inc.
  • HKO Isolier-und Textiltechnik GmbH
  • ISOLITE GmbH
  • FITWEL GASKET COMPANY (INDIA) PRIVATE LIMITED
  • Thermo-Tec Automotive Products Inc.
  • TKG Automotive
  • Others.
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