Get in-depth analysis of the COVID-19 impact on the Automotive Heat Shield Market

Automotive Heat Shield Market Automotive Heat Shield Market

CITY, Country, 2020-Sep-25 — /EPR Network/ —

The Automotive Heat Shield Market is estimated to be worth USD 11.7 billion in 2020 and is projected to reach USD 13.9 billion by 2025, at a CAGR of 3.4% during the forecast period.

The demand for automotive heat shields is highly dependent on the design, weight, material, and structure of the components and component assemblies of a vehicle. Heat shields are manufactured with a specific shape and size and are suitable for specific components of a vehicle. Changes in the shape and size of a component may result in similar changes for heat shields. OEMs incorporate various modifications in vehicle structures when designing new components. This triggers the need for lightweight, advanced heat shields and other coolants.

COVID-19 impact on automotive heat shield market:

The COVID-19 pandemic is expected to have a severe impact on the automotive heat shield market. Both the production and sales of new motor vehicles have come to a halt across the globe; the whole ecosystem has been disrupted. OEMs must wait until lockdowns are lifted to resume production. Post the pandemic, the demand for new vehicles will be significantly low. Hence, they would need to adjust the production volume. Component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues. The auto industry is highly capital-intensive and relies on frequent financing to continue operations. Thus, the production suspension during the outbreak and lower demand post the pandemic will have an unprecedented impact on automotive heat shield manufacturers.

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The automotive heat shield market is highly influenced by vehicle production and invest by major OEMs and Tier I automotive system providers. The unprecedented impact of COVID-19 and subsequent weaker demand for vehicles will be a major concern for automotive heat shield manufacturers. OEMs are expected to resume production with lower capacity utilization and will adjust the production according to demand. Lower vehicle production would lead to lesser demand for heat shields. Hence, the demand for automotive heat shield would be adversely impacted. In addition, major Tier I players have abandoned investment or reduced R&D resources in advanced automotive systems such as powertrain development, exhaust systems, turbochargers, and many others due to the financial damage caused by COVID-19. However, increasing stringency of fuel efficiency standards imposed by major countries to curb pollution would be major hope for automotive heat shield manufacturers. OEMs have to optimize engine efficiency by opting measures such as lightweight materials. Lightweight, yet high-temperature resistant heat shields, would be in demand during the forecast period.

Double shell segment, by product type, is estimated to be the fastest growing automotive heat shield market share during the forecast period.

The double shell heat shields are made of two aluminum sheets. These are designed to tolerate low to medium temperatures. Just like in single shell, aluminum sheets of 0.3–1.0 mm thickness are utilized for double shell technology. These are offered as exhaust manifold heat shields, catalytic converter heat shields, turbocharger heat shields, and starter motor heat shields.

Double shell is useful to reduce the under-bonnet temperatures, allowing for lower air intake temperatures and thus enabling increased power output. These heat shields keep more heat in the exhaust, thereby reducing exhaust back-pressure. All these factors would drive the growth of the double shell automotive heat shield market.

Key Market Players:

Some of the leading manufacturers and suppliers of automotive heat shield market are Dana Incorporated (US), Morgan Advanced Materials (UK), Autoneum (Switzerland), ElringKlinger AG (Germany), Lydall Inc. (UK), Tenneco Inc. (US), Carcoustics (Germany), UGN Inc. (US), and others. These companies adopted inorganic and organic growth strategies such as new product developments, expansions, supply contracts, collaborations, partnerships, and mergers & acquisitions to gain traction in the automotive heat shield market.

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