The Automotive Shielding Market is estimated to be USD 6.89 billion in 2017 and is projected to reach USD 12.24 billion by 2025, at a CAGR of 7.33% during the forecast period. The base year for the study is 2017 and the forecast period is 2018–2025. The market is primarily driven by the rising demand for fuel-efficient vehicles, increased vehicle production, growing safety concerns, and the high adoption rate of advanced electrical and electronic components in vehicles.

Automotive Shielding Market Drivers

Increased vehicle production

The automotive shielding market is largely dependent on vehicle production. Despite the increasing popularity of EVs, the production of ICE vehicles has increased to bridge the demand and supply gap. Hybrid and plug-in hybrid, which are fuel-efficient vehicles, have also gained popularity. The increasing production of HEV, PHEV, and ICE vehicles is expected to trigger the growth of automotive shielding market. Vehicle production is growing across the globe owing to several factors, such as the growing demand for passenger cars, increase in purchasing power, and capacity expansion by OEMs, particularly in emerging economies.

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Increasing Electric Vehicle (EV) sales boosts Automotive Shielding Market

Another factor driving the growth of the automotive shielding market is the increasing sales of EVs. The increased sales of EVs is driving the EMI shielding market. More EVs on the road means a greater number of electronic components in a vehicle would need to be shielded. Thus, the EMI shielding market has great potential in case of EVs.

Key Players:

The ecosystem of the automotive shielding market consists of automotive shielding technology manufacturers such as Laird (UK), ElringKlinger (Germany), Federal-Mogul (US), Morgan Advanced Materials (UK), Dana (US), Henkel (Germany), Kitagawa (Japan), and Schaffner (Switzerland) among others.

The heat shielding segment is estimated to hold the largest market share, by shielding type, in 2018. The major factor contributing to the overall growth of the heat shields is the increasing demand for commercial vehicles in countries such as the US, China, Japan, Germany, and many others. These vehicles have a high temperature in components such as the engine and exhaust, which drives the demand for heat shields.

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The passenger car segment is estimated to hold the largest share, in terms of value, of the automotive shielding market, by vehicle type, during the forecast period. The growth of the passenger car segment can be attributed to high vehicle production of passenger cars, rising demand for fuel-efficient vehicles, increasingly stringent emission norms, and increased use of advanced technologies and electronic components. High demand for personal mobility, increasing per capita income, and improved lifestyle are driving the sales of passenger cars. Also, the adoption of advanced technologies continues to be high for passenger cars in comparison to commercial vehicles.

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