Heat shields are commonly used to protect parts of a device from heat generated by its energy source. According to a recent study report published by the Market Research Future, the global market for Heat shields is expected to witness a rapid growth in the recent future, in terms of value and volume. Heat shields Market is predicted to grow in the future with ~ 5% of CAGR; witnessing an exponential growth crossing its previous growth records by the end of the forecasted period (2016 – 2022). Rapid growth in the automotive industry with the growing number of temperature sensitive components in the modern vehicle resulted in increasing demand in the heat shield market.
Factors such as minimal cooling air flow, tightly packed components and others resulted in high temperature in the engine compartment and across the exhaust system. Several countries are increasing their spending in the defense sector which increases the consumption of firearms also fueling the growth of this market. Growing safety concern among the consumers is also fueling the growth of heat shield market. However, fluctuating cost of raw materials may hamper the growth of heat shield market, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 100 pages.
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Aluminum is the key raw material used for the manufacturing of automotive heat shields. However, the rising price of aluminum has been challenging the manufactures of heat shields.
Identified and profiled in MRFR analysis; some of the leading players in the Heat Shield markets are Morgan Advanced Materials (U.K.), Dana Holding Corporation (U.S.), Federal Mogul Holding Corporation (U.S.), Autoneum Holdings AG (Switzerland), Lydall Inc. (U.S.) and Elringklinger AG (Germany). Other prominent players operating the global market heat shields are – Progress-Werk Oberkirch AG (Germany), UGN Inc. (U.S.), ThermoTec Automotive (U.S.), and Zircotec (U.K.).
Heat Shield Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation On the basis of Material : Comprises Metallic and Non-metallic.
Segmentation On the basis of Product: Comprises Exhaust Heat Shield Insulation, Turbo heat shield, Spark plug boot heat shield, Thermal & Heat shield sleeving, Fire arm heat shield and others.
Segmentation On the basis of End USer: Comprises Automotive, Defense, Aircraft and others.
Segmentation On the basis of Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Heat Shield Market Synopsis & Scenario:
Heat shields are a vital component for the perfect functioning of an automobile. Larger and powerful engines generate more heat and hence heat shields are used on most engines to protect components and bodywork from heat damage. The automotive heat shields are used in various areas of the automobile to protect it from the high temperature generated by the engine and the exhaust systems. High quality Heat shields are extensively installed in luxury cars having heavy-duty engines. Augmented sales of luxury cars across the globe will provide an impetus to the automotive heat shields market.
With the increasing number of vehicles equipped with turbocharger heat shields; the market for turbocharger heat shields is expected to witness a rapid growth in the forecast period. Manufacturers with the use of a turbocharger are able to curtail the size of the engines with larger power output. This is will fuel the market growth further.
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Asia-Pacific region followed by North America dominates the Global Heat Shield market. Increasing rate of industrialization & urbanization with increasing demand of commercial as well as passenger vehicles is ultimately driving the growth of this market in the APAC region. Increasing disposable income among individuals ultimately increases the demand of luxury vehicles which also increase the demand of Heat Shield market. APAC region is expected to show the fastest growth during the forecast period. Factor such as demand for automobiles is growing considerably as well as significant growth in defense and aircraft sector is further fueling the growth of this market in North America region
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