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North American Automotive Heatshield Market revenue to hit $440 Mn by 2026
Published Date: 2021-09-06
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North American Automotive Heatshield Market size is predicted to reach USD 440 million by 2026, according to a latest forecast report by Graphical Research. Upgrading of the automotive industry due to rapid penetration of advanced electronics and improved software in automotive will propel the North America heatshield industry.
North America holds over 15% share in the global automotive heatshield industry. The generation of excess heat and lack of heat management in automotive can prevent the vehicle from performing optimally. Moreover, excess heating in the engine results in lower power output, which may lead to spark plug failures. These factors are of utmost importance, resulting in the deployment of effective heat shields to maintain lower automotive temperature and fuel efficiency.
The lithium-ion batteries that are employed in electric vehicles generally dissipate a significant amount of heat. If the heat management and dissipation systems in the automotive do not work effectively, it may impact the battery life and reduce the vehicle range. The growing penetration of electric vehicles in North America, primarily in the U.S., is expected to drive the market during the projected period.
The passenger cars segment will observe around 3.7% CAGR through 2026. Growth can be attributed to the growing demand for electric vehicles owing to the growing awareness of customers on fuel emission. Moreover, tax incentives that are provided on the purchase of electric vehicles are expected to have a positive impact on the passenger cars segment in North America. Various automakers are now focusing on developing hybrid or electric vehicles, which will further drive the demand for passenger cars.
Browse detailed statistical insights from the report, “North America Automotive Heat Shield Market Forecast 2026 By Application (Underbody Heatshield, Engine, Tank Heatshield, Catalytic Converter, Exhaust Manifold, Starter Motor, Turbo Charger), By Vehicle (Passenger Cars, LCV, HCV), By Material (Aluminum, Stainless Steel, Aluminized Steel), By Sales Channel (OEM, Aftermarket), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Aluminum will witness around 3.5% CAGR in the North America automotive heatshield industry from 2020 to 2026. Growing stringent regulations are compelling industry players to incorporate lightweight materials in automotive. Aluminum is primarily utilized for its lightweight & corrosion-resistant properties and will witness increased penetration in automotive, further driving the market growth.
The underbody health shield segment will generate over USD 60 million by 2026. Underbody heat shields generally cover a huge surface of the underbody in an automotive, which extends from the dash to the tailpipe and they are deep-drawn to cover the gaps and bends around the corners in the automotive body architecture. Underbody shields are generally stressed by environmental inputs owing to their proximity to the road surface. As underbody heat shields cover a large surface of the automotive, it is more prone to heat damage that is generated in the automotive. With growing technological advancements in the automotive industry, the demand for automotive heat shields is expected to grow further.
The aftermarket segment will witness around 3.1% CAGR from 2020 to 2026. As modern vehicles are designed with improved efficiency and performance, industry players are also focusing on protecting the automotive from extreme temperature and environment, which is expected to drive the aftermarket sales segment during the projected period.
The North American Automotive Heatshield market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD million from 2015 to 2026 for the following segments:
North America Market, By Vehicle
North America Market, By Material
- Stainless steel
- Aluminized steel
North America Market, By Application
- Underbody heat shield
- Tank heat shield
- Catalytic converter
- Exhaust manifold
- Starter motor
- Turbo charger
North America Market, By Sales Channel
The above information has been provided for the following countries:
- North America