Put more emphasis on weight reduction and fuel economy criteria, the main driver of growth
DUBLIN, October 21, 2022 /PRNewswire/ — The report “Automotive Heat Shield Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” has been added to from ResearchAndMarkets.com offer.
The Automotive Heat Shield Market Reaches US$11.8 billion in 2020, and it is expected to grow at a CAGR of 3.5% over the forecast period from 2022 to 2030. The increasing use of the products in the manufacture of electric vehicles, lightweight and fuel-efficient passenger automobiles is expected to in fuel and commercial vehicles fueling the market expansion.
Emphasis on lightweight and fuel saving criteria is the major factor driving the market
Increase fuel economy rules in the European Union, Japanand China prompted OEMs to place more emphasis on vehicle weight reduction and engine efficiency. In December 2018, the European Commission introduced legislation that would establish fuel economy criteria. It was hoped that by 2025 the average CO2 emissions from passenger cars and vans could be reduced by 15%, and by 2030 by 37.5%.
In response to increasingly stringent energy efficiency regulations, major original equipment manufacturers (OEMs) are gradually implementing lightweight methods. Heat shield manufacturers are also focusing their efforts on providing lightweight and efficient heat shield solutions.
The increased use of automotive heat shields is a direct result of growing market demand for high performance, high mobility automobiles.
The automotive components industry has always come under scrutiny from regulatory authorities, and companies in this industry are required to comply with various rules that are handed out periodically. The presence of such laws in the automotive sector forces original equipment manufacturers (OEMs) to create products that comply with the regulatory environment currently in place.
These requirements also call for reducing carbon emissions from vehicles; therefore, manufacturers focus on reducing the number of cylinders to keep the engine size to a minimum. In addition, in order to preserve engine power, a supercharging device called a turbocharger or supercharger is installed. This device requires a heat shield to function properly so that it does not overheat. It is expected that the increasing use of turbochargers in spark-ignition and compression-ignition engines would work as a significant factor driving the adoption of automotive heat shields. This is because turbochargers must be fitted with heat shields by law.
Environmental targets in all geographies promise significant opportunities
The automotive sector has always been subject to government regulations, and these regulations require strict adherence to the guidelines that are established in response to the initiatives. Original equipment manufacturers (OEMs) are under pressure to design products that comply with today’s regulatory environment. Regulations require that engine size and the number of cylinders be decreased in order to reduce the amount of carbon emissions produced by automobiles. In order to keep the power of the engines at a high level, turbochargers or superchargers are often installed. To ensure efficient operation, the turbochargers are equipped with heat shields. Since the law requires heat shields to be placed with turbochargers, the market for automotive heat shields is likely to grow as the penetration of turbochargers and compression engines increases.
Additionally, as environmental concerns grow in all parts of the world, governments in various countries are working to establish more stringent regulations in an effort to reduce the noise, vibration, and harshness (NVH) levels produced. by light and heavy vehicles.
Exhaust system heat shield
Turbocharger heat shield
Heat shield under the hood
Engine compartment heat shield
Under Chassis Heat Shield
Light commercial vehicle
heavy duty vehicle
Main topics covered:
3. Automotive Heat Shield Market: Business Outlook and Market Dynamics
4. Automotive Heat Shields Market: By Application, 2020-2030, USD (Billion)
5. Automotive Heat Shields Market: By Material, 2020-2030, USD (Billion)
6. Automotive Heat Shields Market: By Function, 2020-2030, USD (Billion)
7. Automotive Heat Shields Market: By Product, 2020-2030, USD (Billion)
8. Automotive Heat Shields Market: By Vehicle, 2020-2030, USD (Billion)
9. Automotive Heat Shield Market: By Electric Vehicle, 2020-2030, USD (Billion)
10. North America Automotive Heat Shield Market, 2020-2030, USD (Billion)
11. UK & EU Automotive Heat Shields Market, 2020-2030, USD (Billion)
12. Asia-Pacific Automotive Heat Shield Market, 2020-2030, USD (Billion)
13. Latin America Automotive Heat Shields Market, 2020-2030, USD (Billion)
14. Middle East and Automotive Heat Shield Market in Africa, 2020-2030, USD (Billion)
15. Company Profile
For more information about this report visit https://www.researchandmarkets.com/r/ay5ewo
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SOURCE Research and Markets