Heat shield technology holds significant importance in both automotive and industrial applications. It plays a crucial role in managing and dissipating heat generated by engines, exhaust systems, and industrial equipment. Advancements in heat shield technology include innovative materials, improved designs, and thermal management solutions. These advancements ensure effective heat insulation, protection of components, and enhanced performance. Heat shields are vital for preventing overheating, minimizing thermal stress, improving energy efficiency, and ensuring the safety and reliability of automotive and industrial systems, making them indispensable in these sectors.
According to Data Bridge Market Research, the Global Heat Shield Market is accounted at USD 4.19 billion in 2021 and is expected to reach USD 6.50 billion by 2029. The market is expected to grow with a CAGR of 5.65% in the forecast period of 2022 to 2029.
“High demand across various end-user industries boosts the market’s growth”
The heat shield market is witnessing significant growth due to high demand across various end-user industries. Industries such as automotive, aerospace, manufacturing, and energy sectors require effective heat management to protect components and ensure optimal performance. Heat shields offer thermal insulation, preventing heat transfer and reducing the risk of damage or malfunction. The growing emphasis on energy efficiency, emission control, and safety regulations has further boosted the demand for heat shields. This increased demand across multiple industries drives the growth of the heat shield market globally.
What restraints the growth of the global heat shield market?
“High-cost restraints the market’s growth”
The heat shield market faces a restraint in its growth due to the increased demand for electric vehicles and battery electric vehicles (EVs/BEVs). Unlike traditional internal combustion engines, EVs/BEVs generate less heat, reducing the need for extensive heat shielding. The shift towards electrification in the automotive industry affects the demand for heat shields, as these vehicles require different thermal management solutions. However, the heat shield market can still find opportunities by adapting to the changing needs of the electric vehicle sector and exploring new applications in emerging industries.
Segmentation: Global Heat Shield Market
The global heat shield market is segmented on the basis of material type, product, and end-use industry.
- On the basis of material type, the heat shield market has been segmented into metallic heat shield, and non-metallic heat shield.
- On the basis of product, the heat shield market has been segmented into exhaust heat shield insulation, turbo heat shield, spark plug boot heat shield, thermal and heat shield sleeving, fire arm heat shield, and others.
- On the basis of board end-use industry, the heat shield market has been segmented into automotive, aircraft, and defense (firearm).
Regional Insights: Asia-Pacific dominates the global heat shield market
Asia-Pacific dominates the market in terms of market share and market owing to the increasing demand for heat shields in India and China, driven by the rising car production in countries like Japan, South Korea, and Taiwan. Major players are investing in this region and focusing on new product development to offer improved heat-shielding solutions. This strategic approach aims to cater to the growing demand and capitalize on the expanding automotive industry in the region.
North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increased car production in countries like the United States (U.S.), Canada, and others. This rise in automotive manufacturing drives the demand for heat shields. Additionally, the region's transportation infrastructure projects necessitate advanced heat shielding technology. Key market players are making significant investments in research and development activities and introducing new products to enhance their heat shielding solutions and cater to the evolving needs of customers in the region.
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Recent Development
- In February 2021, Vertical Aerospace and Solvay joined forces to develop the composite frame for the VA-1X passenger air taxi program. Solvay will provide access to its composite and adhesive product line and technical support. The goal is to complete the first flying prototype for testing in September 2021, allowing the eVTOL aircraft to transport four passengers and one pilot over 100 miles at cruise speeds of 150 mph.
The Prominent Key Players Operating in the Global Heat Shield Market Include:
- Morgan Advanced Materials (U.K.)
- Dana Limited (U.S.)
- Federal-Mogul Holding Corporation (U.S.)
- Autoneum (Switzerland)
- Lydall Inc. (U.S.)
- Heat Shield Products (U.S.)
- Progress-Werk Oberkirch AG (Germany)
- UGN Inc. (U.S.)
- Zircotec (U.K)
- .ThermoTec (U.S.)
- Elringklinger AG (Germany)
- Happich Gmbh (Germany)
- Carcoustics (Leverkusen)
- Datsons Engineering Works Private Limited (India)
- J&S GmbH Automotive Technology (Germany)
- NICHIAS Corporation (Japan)
- Dummins Inc (U.S.)
- Hyundai Motor Company (South Korea)
- MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan)
- MAHLE GmbH (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global heat shield market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Heat Shield Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
