New York City, NY, 30 April, 2020/ 24 Market Reports: It is estimated for the automotive shielding market to reach USD 24.7 billion by 2025, at a CAGR of 4.1%. Compliance towards fuel efficiency standards and the adoption of electronics-based driving comfort & safety systems are the factors that are driving the market during the forecast period.
Passenger car segment to account for the largest share in the market during the forecast period
The passenger car segment holds the largest market share, by vehicle type. The rising demand for fuel-efficient vehicles coupled with the increasing stringency of emission norms has propelled the growth of the passenger car segment in the heat shield market. On the other hand, advanced technologies and increased use of electronic components in vehicles are driving the demand for EMI shielding.
Heat shielding to account for the majority of the share in the global market
Heat shields are used in the engine compartment, exhaust system, turbocharger, and many other applications in a vehicle. The increase in vehicle production worldwide is driving the growth of the heat shield segment. Although the electrification of vehicles can negatively impact the heat shield segment, the demand for heat shields will continue to grow in the commercial vehicle segment.
The increasing demand for commercial vehicles in countries such as the US, China, India, Brazil, Japan, Germany, and others has contributed to the growth of heat shields. These vehicles have a high temperature in components such as the engine and exhaust, which drives the demand for heat shields.
Asia Pacific region to lead the geography segment during the forecast period
It is estimated for the Asia Pacific region to hold the highest share in the market during the forecast period. The rapid development of intelligent transport systems and connected mobility in countries such as China and Japan is driving the factor in the market in the Asia Pacific region. The governments of these countries plan to incorporate active measures to counter increasing pollution levels in urban regions. This factor is also increasing the growth of the market in the Asia Pacific region during the forecast period.
