Pune, June 18, 2020 (GLOBE NEWSWIRE) -- The global automotive shielding market is set to gain traction from the rising government initiatives to curb global warming and pollution. Therefore, manufacturers are focusing in electrification of the vehicles to reduce carbon footprints. This information is given by Fortune Business Insights™ in a recently published report, titled, “Automotive Shielding Market Size, Share & Covid-19 Impact Analysis, By Shielding Type (Heat Shield and Electromagnetic Interference [EMI] Shield), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2020-2027.” The report further states that the automotive shielding market size was USD 7.54 billion in 2019 and is projected to reach USD 16.52 billion by 2027, thereby exhibiting a CAGR of 10.3% during the forecast period. The following market is expected to decline significantly in 2020 due to the COVID-19 impact and hence, the 2020-2027 CAGR is high.
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COVID-19 Impact on Automotive Shielding Industry:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this market.
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This Report Answers the Following Questions:
- What are the forecast, historical, and current sizes of the market?
- Which company is set to generate the highest revenue in the coming years?
- How will the market be affected in terms of growth?
- Which strategies are the key companies following to surge sales of automotive shields?
- How will the Covid-19 pandemic impact the market during the forthcoming years?
Market Drivers
How will the Outbreak of Covid-19 Pandemic Affect the Market?
- Owing to the complete lockdown measures declared by the regulatory bodies worldwide, the entire manufacturing operations have come to a standstill.
- The service sector is also shut down.
- The above factors are affecting the manufacturing supply chain immensely. These have mainly impacted those industries that are completely dependent on the goods, services, and materials manufactured in China.
- The mankind are presently prioritizing their basic needs instead of spending hefty amounts of money on luxurious goods and vehicles.
- The quarantine measures, as well as the reduced workforce have made it necessary for the manufacturers to shut their production lines.
- All these above-mentioned factors prove that the overall sales of vehicles would decline and would result in the low demand for automotive shields. It would further decline the automotive shielding market growth in the coming years.
Segment-
Heat Shields Segment to Grow Significantly Backed by Their Rising Usage in Automobiles
In terms of shielding type, the market is bifurcated into electromagnetic interference (EMI) shield system and heat shields. Amongst these, the heat shields segment is set to grow significantly backed by their increasing usage in automobiles. They are mainly utilized in turbocharger, engine compartment, under chassis, and exhaust system in vehicles. As per our research, these shields are capable of lowering approximately 70% of the heat coming out of the exhaust system. They can also improve the performance of the vehicles by lowering the temperature produced by various components and systems, and then minimize fuel consumption.
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Regional Analysis-
Development of Connected Mobility to Favor Growth in Asia Pacific
Geographically, Asia Pacific procured USD 4.47 billion automotive shielding market share in 2019 and is likely to dominate the market throughout the forthcoming period. This growth is attributable to the hike in the automotive industry in the developing countries, such as India and China. Coupled with this, the ongoing development of smart transportation system and connected mobility in these countries would accelerate growth in the region. The industry in this region has become advanced because of several smart mobility projects, such as Vehicle-to-Pedestrian (V2P), Vehicle-to-Vehicle (V2V), and Vehicle-to-Infrastructure (V2I). The automotive shielding systems are gaining more popularity in Asia Pacific on account of the rising government initiatives to control the emission of carbon in the atmosphere.
Competitive Landscape-
Key Players Focus on Making Products with Unique Materials to Increase Sales
The market consists of numerous automotive shieling manufacturers. They are mainly focusing on producing automotive shields equipped with innovative materials to cater to the needs of their growing consumer bases. They are also trying to deliver efficient insulation products. Below is a recent key industry development:
- April 2019: Toyochem Co., Ltd. introduced its thermally conductive adhesive sheets under the LIOELM FTS series. It is best suited for high power electronic devices to act as a heat-dissipation solution. The product is capable of transferring heat from the actual source by persistently insulating the device from thermal shock and high voltages.
Fortune Business Insights™ provides a list of Key Companies in the Automotive Shielding Market. They are as follows:
- Tenneco Inc.
- Laird
- Autoneum
- 3M
- Marian, Inc.
- Kitagawa Corporation
- ElringKlinger AG
- Henkel AG & Co. KGaA
- Lydall, Inc.
- PARKER HANNIFIN CORP
- Morgan Advanced Materials
- SCHAFFNER HOLDING AG
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Automotive Shielding Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Shielding Type
- Heat Shield
- EMI Shield
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
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