Automotive & Transportation

Automotive Shielding Market Analysis by Type {Electromagnetic Interference (EMI), Heat}; by Material Type (Metallic, Non-Metallic); by Application (Engine Compartment, Exhaust System, Turbocharger, Adaptive Cruise Control, Electric Motor, Engine Control Module, Forward Collision Warning, Intelligent Park Assist, and others); and by Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4620 | Published On: Dec 28, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Henkel AG & Co. KGaA - launched Loctite EA 9400 and Loctite FPC 5060 protective coating solutions, a fire protection solution for safer EV batteries.

  • TE Connectivity Ltd. - completed the acquisition of shielding and sealing specialist, Kemtron, adding EMI and RFI shielding, environmental sealing, gaskets, and components to its portfolio.


Global Automotive Shielding Market Definition

The method of protecting automotive components with the help of heat-insulating materials is known as automotive shielding. Heat shields are used to protect the vehicle body against excessive heat generated by the engine and exhaust systems. It keeps an automobile’s 400-degree muffler from setting fire and from setting fire to the contents of the trunk. The muffler may be pretty close to the underside of the trunk, shielding wraps around the muffler and, depending on the car. Automotive shielding is applied to vehicle enclosures and cables.


Global Automotive Shielding Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~4%

Base Year Market Size (2022)

~ USD 21 Billion

Forecast Year Market Size (2033)

~ USD 32 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)


Global Automotive Shielding Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global automotive shielding market is estimated to garner a revenue of ~USD 32 billion by the end of 2033 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 21 billion in the year 2022. The growth of the market can primarily be attributed to the growing demand for vehicles worldwide with the rising need to prevent vehicles from damage and malfunction.  It was found that there were about 80 million motor vehicles produced worldwide, with a rise of ~3% in 2021.

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Automotive shielding reduces the coupling of radio waves (RF shielding) and blocks electromagnetic and electrostatic fields from interfering with other electronic systems and devices. Rapid industrialization and the rising number of automobiles globally along with demand for engine-efficient, light-weighting vehicles are being prioritized to abide by the standards of fuel efficiency worldwide propelling the global automotive shielding market during the forecast period.


shielding market overview
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Global Automotive Shielding Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Electric Vehicles – where electric vehicle (EV) manufacturing inevitably requires installing electronic systems in confined spaces and also needs to refrain the electromagnetic energy generated from these systems from “crosstalking” and causing malfunctions and failures. As EMI shielding is important for EVs, the surge in the demand for EVs is expected to boost the automotive shielding market in the forecasted period. It was found that the global sales of EVs were over 3 million units in 2020 which was more than 4% of global vehicle sales.

  • Increasing Sales of Battery Charger – for instance, the battery charger sales value worldwide reached around USD 21 billion in 2018.

  • Growing Penetration of Automotive Radars - which will reach nearly 65% in Europe by 2030.

  • Rising Trend of Hydrogen Fuel Cell Technologyit was found that there were more than 25000 such vehicles registered worldwide in 2020.

  • Surge in the Demand for Automotive Electronicsas it is projected that by 2030, electronics will make up approximately 50% of a cost of a new car.

Challenges

  • Design Complexity – designing a shield that meets the needs of modern vehicles can become costly manufacturer if the task is delayed. The major challenge in engineering an EMI shield is knowing when the shield is needed—EMI signals, which always need to be prioritized at the beginning of the design process, as working retroactively to create a suitable solution may be expensive.

  • Risk of Product Failure

  • Unsatisfactory Sound Absorption Performance by the Conventional Panel

The global automotive shielding market is segmented and analyzed for demand and supply by vehicle type segment into passenger cars, light commercial vehicles, and heavy commercial vehicles. Amongst these segments, the passenger cars segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing demand for cars worldwide and the rising demand for heat shields to protect the vehicle body against excessive heat. It was found that the auto industry in United States sold more than 3 million cars in 2021.


Global Automotive Shielding Market Regional Synopsis

The Asia Pacific automotive shielding market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by a growing number of installed bases of global navigation satellite system (GNSS) devices and rising awareness amongst the automobile manufacturers for electromagnetic interference (EMI) sourced by the navigation system. It was found that Asia Pacific region leads the way in the usage of the navigation system, as it accounted for ~900 million GNSS devices in 2021.

shielding market share


Market Segmentation

Our in-depth analysis of the global automotive shielding market includes the following segments:

        By Type

  • EMI
  • Heat

        By Material Type

  • Metallic
  • Non-Metallic

          By Application

  • Engine Compartment
  • Exhaust System
  • Turbocharger
  • Adaptive Cruise Control
  • Electric Motor
  • Engine Control Module
  • Forward Collision Warning, Intelligent Park Assist
  • Lane Departure Warning
  • Infotainment

          By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

shielding market share
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Top Featured Companies Dominating the Global Automotive Shielding Market

    • Henkel AG & Co. KGaA

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • ElringKlinger AG
    • TE Connectivity Ltd.
    • PPG Industries, Inc.
    • Laird Technologies, Inc.
    • Tenneco Inc.
    • Dana Incorporated
    • Morgan Advanced Materials plc
    • 3M Company
    • Parker-Hannifin Corporation
    • Marian, Inc.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the automotive shielding market?

Ans: Growing number of vehicles as well as the rising number of electric vehicles along with a surge in the sales of battery chargers are some of the major factors anticipated to drive the growth of the market.

2) What would be the CAGR of automotive shielding market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the automotive shielding market growth?

Ans: Design complexity as well as risk of product failure are some of the factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of automotive shielding market in future?

Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the automotive shielding market?

Ans: he major players in the market are Henkel AG & Co. KGaA, ElringKlinger AG, TE Connectivity Ltd., PPG Industries, Inc., Laird Technologies, Inc., Tenneco Inc., Dana Incorporated, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the automotive shielding market?

Ans: The market is segmented by type, material type, application, vehicle type, and by region.

8) Which segment captures the largest market size in vehicle type segment in the automotive shielding market?

Ans: The passenger cars segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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