The automotive heat shield market is projected to reach USD 13.9 billion by 2025 from USD 11.7 billion in 2020, at a CAGR of 3.4%. Increasing focus on light-weighting and growing demand for fuel-efficient vehicles would drive the adoption of automotive heat shields during the forecast period.
Some of the key players in the automotive heat shield market are Dana Incorporated (US), Morgan Advanced Materials (UK), Autoneum (Switzerland), ElringKlinger AG (Germany), Lydall Inc. (UK), Tenneco Inc. (US), Carcoustics (Germany), and UGN Inc. (US). New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the automotive heat shield market.
The COVID-19 pandemic will have an adverse effect on the demand for heat shields in the automotive industry. Major OEMs have suspended vehicle production due to the increasing severity of the outbreak since March 2020. Vehicle sales plummeted rapidly due to nationwide lockdowns and restrictions. Major OEMs have also postponed the development of advanced automotive systems due to the pandemic. Although OEMs resumed vehicle production in countries such as China and Japan, the initial demand for new vehicles post lockdown is very low. This would hinder the revenue of heat shield manufacturers.
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Dana Incorporated is one of the leaders in the automotive heat shield market. It offers various automotive shielding products such as sound absorbing heat shields, direct insulation heat shields, aluminum heat shields, insulated and damped heat shields, and heat shields with integrated gaskets. In August 2019, Dana announced the acquisition of Nordresa Motors, Inc.,—a prominent integration and application engineering expert for the development and commercialization of electric powertrains for commercial vehicles operation in the UK.
Morgan Advanced Materials has positioned itself as a global player in the automotive heat shield market. The company specializes in thermal ceramics, carbon, and composites. Its principal products include high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products. The company is expanding its footprints globally. For instance, the Carbon and Technical Ceramics Division comprised 32 operating sites with manufacturing sites across the world as of December 31, 2019.
Autoneum Holding AG is an established player in the automotive heat shield market. It specializes in acoustic and thermal management solutions for vehicles. Autoneum produces heat shields with heat resistance of up to 500◦C. The company has strengthened its regional presence in China by opening new plants in the automotive centers of Pinghu and Shenyang Tiexi. Both plants would serve lightweight multifunctional components for noise and heat protection to major automakers in Asia Pacific.
ElringKlinger is another leading manufacturer of automotive heat shields. The company manufactures automotive heat shield systems under the brand umbrella of ElroTherm. Its heat shields serve vehicle engines, transmission units, and exhaust systems. ElringKlinger strengthened its presence in the US in 2018 by expanding its local sales activities.
Lydall is deliberated as a key player in the automotive heat shield market. It offers noise and heat protected shields that fulfil the underbody and under hood application in cars, trucks, SUVs, heavy-duty trucks, and recreational vehicles. The company has a strong hold in the North American region.
Automotive Heat Shield Market by Application (Engine, Exhaust, Under Bonnet, Under Chassis, Turbocharger), Product (Single Shell, Double Shell, Sandwich), Function (Acoustic, Non-Acoustic), Material, Vehicle Type, EV, and Region - Global Forecast to 2025
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