Shielding Market to Gain Grounds from Rising Sale of Premium Cars
Car Shielding Market function mainly to protect the interior and exterior from the excessive heat generated by engine compartment, exhaust system and turbocharger. This is also known as exhaust heat management system. The shield absorbs the temperature and reflects it back to some extent. The global automotive shielding market is expected to gain 6% CAGR over the assessment period (2018-2023). Market Research Future (MRFR), in their latest article, claimed that factors are going to impact the automotive shielding market substantially in the coming years.
Factors such as fuel efficiency, safety measures, hike in the sale of premium cars, stringent environmental regulations, and an expanding automotive sector are reasons behind the growth of the automotive shielding market. Research and development sectors are also providing thrust as better safety measure requirements are driving constant upgradation.
Segmental Analysis:
MRFR delves deep in the global automotive shielding market for a better look at the market scenario and understand difficulties. For that, in the study MRFR made segmentations based on the shielding type, heat application, EMI application, material type and vehicle type.
Based on the shielding type the automotive shielding market includes heat shielding, and EMI shielding. The heat shielding segment is gaining traction as the perfect balance in this could enhance driver’s experience.
Based on the heat application, the automotive shielding market comprises engine compartment, exhaust system, and turbocharger.
Based on the EMI application, the automotive shielding market consists electric motor, adaptive cruise control, intelligent park assist, forward collision warning, engine control module, and lane departure warning. The forward collision warning segment is gaining strength in premium cars as better safety has become a necessity for many.
Based on the material type, the automotive shielding market includes metallic shield and non-metallic shield.
Based on the vehicle type, the automotive shielding market includes passenger car, light commercial vehicle and heavy commercial vehicle. Among these, the passenger car segment is gaining the most traction due to its increased sale. This is a direct result of the increasing disposable income.
Regional Segmentation:
Going by region-specific study, the global automotive shielding market can be segmented into four major regions such as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The report aims at a better identification of the opportunities in regions which can lead to a much better prospect for the market. Introduction of safety features is expected to take the global market forward.
The APAC market owns the greater share of the global market and it is going to continue its domination during the forecast period as well. This is mainly because of the high number of manufacturing of cars in the automotive sector as global players have started showing interest in the zone.
North America is following the lead and the credit goes to high vehicle and user ratio. People are buying advanced cars due to their high investment capacity. This is also true for Europe where the automotive sector is quite robust.
Competitive Landscape:
Major companies to invest in the global automotive shielding market are ElringKlinger AG (Germany), Laird PLC (UK), Morgan Advanced Materials (UK), Federal-Mogul Corporation (US), Henkel AG & Company, KGaA (Germany), Dana Limited (US), Schaffner Holding (Switzerland), Kitagawa Europe (Japan), Progress-WerkOberkirch AG (Germany), Autoneum (Switzerland), and others. These companies have been profiled by MRFR in their latest report on the said market. Their strategic contributions have been assessed for a better understanding of the upcoming market.
In 2019, Gates launched a new series of modular hoses for aftermarket service. The component can channel cooling fluid around the vehicle to systems requiring heat reduction. Also, for these hoses, time taken to assemble parts are lesser than the conventional methods. Gates has already made a name for itself as a perfect OEM partner and its product help in clamping, shielding and connecting necessary components.