The method to protect automotive components from damage due to overheating and electromagnetic interference (EMI) using heat-insulating materials as shields, is called automotive shielding.
Modern Vehicles have inbuilt significant functions and related features such as GPS, infotainment systems, bluetooth, and electric vehicular and self-driving technology. These functionalities and the overall vehicle system are driven by the need to be protected from heat and electromagnetic radiation. Excessive heat generated by the engine and exhaust systems and radio frequency interference (RFI) can damage components and lead to electronic malfunctions in-vehicle equipment and affect mission-critical systems.
|Automotive parts that require heat shielding
|Automotive parts that require EMI shielding
|Compartments of combustion engine
|Infotainment head unit
|Power steering module
|Tire pressure monitoring
|Electronic braking system
Hence, automotive shields are used to provide protection to the vehicle body and its integrated components for their efficient performance and optimum usage.
As related above, there are two types of automotive shielding, namely, heat shielding and electromagnetic interference (EMI) shielding.
The global automotive shielding Market stood at ~USD 21.0 billion in 2022 and is estimated to reach ~USD 32.0 billion in 2035 expanding at a CAGR of 4% during the period of 2023 to 2033.
Asia Pacific is the leading region with the maximum revenue share of the automotive shielding market. The region holds the biggest market for electric vehicles. The Asia-Pacific electric vehicle market stood at USD 230.69 billion in 2022 and is expected to reach USD 865.42 billion by 2030 expanding at a CAGR of 19% during the current decade. Apart from that, these countries are also leading in the automobile manufacturing sector. India and China contribute to almost 60% of worldwide electric vehicle sales.
Moreover, as of 2021, China has been dominating the Asia Pacific EMI Shielding Market, achieving a market value of ~ USD 962.2 million by 2028. The Indian and Japanese markets are expanding with a CAGR of 6.8% and 5.4% respectively, during the present decade.
The major players operating in the market are Tenneco Inc., Liard Plc, Henkel, 3M, and Morgan Advanced Material
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The automotive industry has seen an overhaul in the past two decades. Conventional car models have given way to EVs, hybrid, self-driving, and fully autonomous cars. Today with smart electronic devices becoming omnipresent, consumers look for smart features in the cars they buy. Modern-day cars are able to seamlessly integrate digital touchpoints and provide smart and convenient experiences while also improving safety and security features. The auto parts and technologically advanced features require protection from heat and electromagnetic radiation to maintain their efficiency. Hence, we can say that the industry for automotive shielding shows a lot of profit-making and growth prospects for its key players and investors.