Automotive Heat Shield Market Size, Share & Trends Analysis Report By Product (Single Shell, Double Shell, Sandwich), By Application, By Material, By Vehicle Type, By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global automotive heat shield market size was valued at USD 11.5 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2020 to 2027. Rising product utilization in the production of electric vehicles, lightweight and fuel-efficient passenger cars, and commercial vehicles is expected to fuel market growth. Heat shield plays an integral role in dissipating the excess heat generated by the vehicle, protecting sensitive vehicle components against heat, and helping maintain optimal thermal comfort inside the vehicle. Furthermore, the product helps in increasing the power output of an engine by controlling the under-bonnet temperature and lowering the intake air temperatures.

The single shell segment emerged as the largest product segment in the U.S. in 2019. Over the years, the country has emerged as one of the largest markets for passenger cars and commercial vehicles. Thus, the wide-ranging use of single shell heat shield in a variety of vehicles to protect the vehicle against relatively low-temperature heat sources is fueling the segment growth.

Excess heat generation and lack of heat management inside may prevent the vehicle to perform optimally. Excessive heating of an engine may result in lower power output and spark plug failures. Thus, it is of utmost importance to employ effective heat shields to maintain vehicle temperatures and fuel efficiency.

The lithium-ion batteries employed in the battery-operated electric vehicles generate a significant amount of heat. Lack of effective heat management and dissipation system has an immense bearing on battery life and vehicle range. Thus, the growing demand for electric vehicles is expected to drive product demand over the forecast period.

The majority of the heat shields are made from lightweight metals, such as aluminum. Aluminum is extracted from the bauxite ores mined from the earth’s surface. However, the implementation of various mining control regulations across the world has caused volatility in the global aluminum prices, thereby affecting the profit margins of the market players.

Product Insights

Single shell heat shield led the market and accounted for more than 59.0% share of the total revenue in 2019. Single shell product is made from single-layer aluminum foil with a thickness of 0.3 - 1.0 mm. This heat shield is highly effective against relatively low-temperature heat sources. However, their greater space requirement is expected to hinder their wide-ranging adoption over the forecast period.

Double shell heat shields are generally made from two aluminum sheets of 0.3 - 1.0 mm thickness. These products are extremely lightweight and are designed to tolerate low to medium temperatures. It is mainly used in the heat management of catalytic converters, turbochargers, and starter motors of the vehicles.

The sandwich products are used to provide protection against extremely high temperatures. This product is widely used in high-performance racing cars owing to its superior heat management property and relatively fewer space requirements. Furthermore, it is employed as an insulating mat in electric vehicles to protect the battery packs installed on the vehicle floor.

The double shell segment is expected to witness significant growth over the forecast period. These products are majorly employed in under bonnet heat management applications to help control the overall temperature of the whole engine assembly and maintain optimum vehicle performance.

Application Insights

The engine compartment segment led the market and accounted for more than 30.0% share of the total revenue in 2019. The heat shield is widely used to protect engine assembly against high temperatures. The engine is probably the most important component of an automotive assembly. Improper heat management may lead to engine failure and reduce the life of the engine assembly.

Governing bodies across the globe are employing stringent automotive emission norms to curb the rapidly rising environmental damage. The aforementioned trend is expected to boost the demand for automotive turbochargers since it is an eco-friendly device that aids in realizing fuel economy across several vehicle types, and thereby drive the product demand.

The turbocharger application segment is expected to expand at the fastest CAGR of 4.8% over the forecast period. The growing use of turbochargers in various types of vehicles, such as passenger cars, light commercial vehicles, and heavy commercial vehicles, is expected to provide a major boost to the segment growth over the forecast period.

Effective heat management helps improve the performance, fuel efficiency, and service life of a vehicle engine assembly. Additionally, the improvement in production technology has enabled the fabrication of space-saving heat shields. Thus, the growing demand for fuel-efficient vehicles is expected to drive the product demand in the upcoming future.

Material Insights

The metallic segment led the market and accounted for more than 85.0% share of the total revenue in 2019. Wide-ranging product adoption in various types of vehicles was the primary factor driving the segment. Additionally, their mouldability, durability, superior conductivity, and high-temperature resistance attributes are further expected to propel the product demand.

Metallic heat shields are generally made from aluminum, stainless steel, and other such metals that display high conductivity. The growing trend towards reducing the overall weight of the vehicular assembly is driving the demand for products made from various types of metallic alloys owing to their comparable conductivity, durability, and superior lightweight property.

The non-metallic segment is expected to expand at the fastest CAGR of 4.2% over the forecast period. Superior heat dissipation property, flame resistance, and durability are some of the key attributes that are expected to drive the segment over the forecast period. Non-metallic heat shields are witnessing growing adoption in under bonnet applications, including high-temperature hoses.

Non-metallic materials are generally made from composites or meta-aramid materials owing to their formability, flame resistance, and ability to withstand extremely high temperatures. Additionally, the non-metallic heat shields are extremely lightweight compared to metallic ones. This is expected to increase the share of the segment over the forecast period.

Vehicle Type Insights

The passenger car segment led the market and accounted for more than 74.0% share of the global revenue in 2019. An increase in per capita disposable income and improvement in living standards are generating a burgeoning demand for passenger cars in Asia Pacific and the Middle East and Africa, thereby driving the product demand.

The light commercial vehicles (LCVs) segment is expected to expand at a CAGR of 3.3% over the forecast period. Growing demand for various types of LCVs, such as delivery vans and pickup trucks, from e-commerce and logistics companies to strengthen their last-mile delivery services is expected to be the primary factor driving the segment.

The electric vehicles segment held a 5.8% share of the overall revenue in 2019. Heat shield materials form an integral part of the electric vehicle assembly. They play an instrumental role in increasing the vehicle range and increasing the battery life by dissipating and controlling the heat generated by the lithium-ion batteries.

The heavy commercial vehicles (HCVs) segment is expected to witness robust growth over the forecast period. The growing adoption of liquefied natural gas (LNG) as an alternative to highly polluting diesel fuel is expected to provide a significant boost to the demand for heavy commercial vehicles, thereby increasing demand for automotive heat shields in the HCV segment.

Regional Insights

Asia Pacific dominated the market and accounted for almost 37.0% share of the total revenue in 2019. The region generates a burgeoning demand for LCVs and HCVs to provide effective logistical services to its rapidly expanding industrial sector. Furthermore, the rapid growth of the e-commerce sector has generated a significant demand for commercial vehicles, thereby increasing demand for automotive heat shields.

The adoption of stringent vehicular emission norms in Europe has nudged automotive manufacturers to employ lightweight alloys, such as Al-Mg (Aluminum-Magnesium), in the production of heat shield materials. Lightweight products help reduce the overall weight of the vehicle and improve fuel efficiency by effective heat dissipation.

China is expected to expand at a CAGR of 4.5% over the forecast period. In September 2020, Chinese President Xi Jinping announced a plan to make China carbon neutral by the year 2060. Under this initiative, the country is expected to promote greater adoption of electric vehicles, and thereby drive the product demand in electric vehicle applications.

In 2019, the North American market generated a revenue of USD 2.5 billion. Growing demand for lightweight and fuel-efficient vehicles was the primary factor driving the regional demand. Moreover, the presence of a well-developed automotive industry, coupled with the rising adoption of electric vehicles, is expected to boost market growth over the forecast period.

Key Companies & Market Share Insights

Key industry players are focusing on developing lightweight heat shield materials in accordance with the demand for lightweight components from automotive manufacturers. These companies are progressively adopting innovative materials, such as metal composites and meta-aramid materials, in order to increase product durability and flame resistance.

Major players such as DuPont, Dana Incorporated, Zircotech, and Morgan Advanced Materials are actively collaborating with the major automotive manufacturers in order to develop customized heat shield materials suitable to their specific needs. Some prominent players in the global automotive heat shield market include:

• DuPont

• Dana Incorporated

• Zircotec

• Morgan Advanced Materials

• Autoneum

• ElringKlinger AG

• Lydall Inc.

• Tenneco Inc.

• Carcoustics

• UGN Inc.

Automotive Heat Shield Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global automotive heat shield market report on the basis of product, application, material, vehicle type, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Single Shell

  • Double Shell

  • Sandwich

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Exhaust System

  • Turbocharger

  • Under Bonnet

  • Engine Compartment

  • Under Chassis

• Material Outlook (Revenue, USD Million, 2016 - 2027)

  • Metallic

  • Non-metallic

• Vehicle Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Passenger Car

  • Light Commercial Vehicle

  • Heavy Commercial Vehicle

  • Electric Vehicles

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia