The Automotive Shielding Market is expected to grow at a robust CAGR over the forecast period (2020-2027).
The factors driving growth of the Automotive Shielding Market includes growing demand for luxury passenger vehicles, strict regulations imposed by Governments for reducing carbon emissions, rising concerns related to safety of vehicles and improvements in the living standards. Moreover, rising popularity of electric vehicles, integration of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) with components like sensors, radars, and cameras, introduction of new products and rapid urbanization, are boosting the Automotive Shielding Market size. In addition, the increasing investments by leading players on research and development, strategic partnerships and collaborations between companies and rising disposable incomes, are further contributing towards the market growth.
However, growth of the Automotive Shielding Market is hindered attributed to high price of metallic shielding.
The major players operating in the market are Parker Hannifin Corp., KGS Kitagawa Industries Co, Tech-Etch Inc., Tenneco Inc., Laird Inc., Henkel AG & Co. KGaA, Elringklinger AG, Dana Limited, Morgan Advanced Materials Plc., and 3M Company, among others.
Based on Shielding Type, the EMI Shielding segment is predicted to grow at a significant CAGR during the forecast period
Growing adoption of Electromagnetic shielding (EMI) by manufacturers because it reduces electromagnetic interference, and is extremely light weight, are some of the factors pushing growth of the segment.
On the other hand, the Heat Shielding segment is projected to capture the largest market share over the forecast period. Heat shielding protects the body parts and components of vehicles from heat damage, enhances vehicle’s performance and reduce fuel consumption, are some of the factors propelling segment’s growth.
Based on Region, the North America region is anticipated to hold the highest market share during the forecast period
As per the Automotive Shielding Market Forecast, Government policies promoting the manufacturing of electric vehicles, growing adoption of advanced vehicle safety systems, rising population growth rates and high disposable income, are factors augmenting the market growth in the North America region.
Key Developments
Market Segmentation
Segmentation by Shielding
Segmentation by Material
Segmentation by Heat Application
Segmentation by EMI Application
Segmentation by Region
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