Automotive Shielding Market Size to Reach USD 16.52 Billion by 2027; Rising Installation of Novel Electronic Components in Vehicles to Boost Growth

The global automotive shielding market size is projected to reach USD 16.52 billion by 2027. It is set to gain impetus from the rising advancement in technology. It has further resulted in the increasing installation of several electronic components in the automobiles. These components aid in controlling a large number of mechanical and electrical functions in the vehicles. Fortune Business Insights™ published this information in a new study, titled, “Automotive Shielding Market Size, Share & Covid-19 Impact Analysis, By Shielding Type (Heat Shield and Electromagnetic Interference [EMI] Shield), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2020-2027.” The study further states that the market stood at USD 7.54 billion in 2019. However, it is set to exhibit a CAGR of 10.3% during the forecast period between 2020 to 2027. Besides, the following market is expected to decline significantly in 2020 due to the COVID-19 impact and hence, the 2020-2027 CAGR is high. The pandemic is affecting the market negatively by reducing workforce and implementation of lockdown measures by the regulatory bodies worldwide.

Electrolube Launches New Range of Form-in-place EMI Shielding Materials

In May 2018, Electrolube, a prominent electro-chemical manufacturer based in the U.K., declared its plans to unveil its latest silver conductive adhesive and a new line of Form-In-Place EMI shielding materials. It would be exhibited at the SMT Hybrid Packaging Show in Nuremberg. The products have been successful in China. It was only meant for usage in this country for the smartphone market. However, the company will now launch it for the automotive industry in Europe. It is best suited for those manufacturers who need high performance and reliable EMI shielding materials for a wide range of applications, such as car entertainment/audio systems, side/rear detection systems, radar modules, cameras, and automatic mirrors.

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https://www.fortunebusinessinsights.com/automotive-shielding-market-103018

Rising Developments of Infrastructures to Accelerate Growth

The automotive industry worldwide is persistently under pressure from the government, as well as other authorities. These regulatory bodies are putting forward a large number of stringent norms and guidelines to be followed by the automotive manufacturers. Such rules make it necessary for the automotive shielding companies to manufacture their products that are compatible with the environmental norms. These norms further demand reduced fuel consumption to curb the emission of carbon in the atmosphere. Hence, several manufacturers are currently aiming to make the engine sizes smaller by lowering the number of cylinders. Apart from that, the rising disposable income, rapid urbanization, ongoing developments of infrastructures, and high standard of living would contribute to the automotive shielding market growth in the coming years. However, this shielding requires high maintenance cost. It may hamper growth.

Key Companies Engage in Product Launches to Intensify Competition

The market houses a large number of manufacturers of automotive shields. Out of them, Morgan Advanced Material is in the dominant position because of its usage of state-of-the-art materials to make efficient and premium-quality automotive shields. It also houses a team of highly skilled engineers and scientists to discover latest solutions and tackle technologically complex challenges smoothly.  

Fortune Business Insights™ provides a list of all the companies operating in the automotive shielding market. They are as follows:

• Tenneco Inc.
• Laird
• Autoneum
• 3M
• Marian, Inc.
• Kitagawa Corporation
• ElringKlinger AG
• Henkel AG & Co. KGaA
• Lydall, Inc.
• PARKER HANNIFIN CORP
• Morgan Advanced Materials
• SCHAFFNER HOLDING AG

A Significant Industry Development-

• May 2019: Autoneum, an automotive supplier headquartered in Switzerland, launched its textile battery undercovers made by Ultra-Silent. The new product launch would help the company in broadening its product offerings. These products would aid in meeting the requirements for thermal and acoustic management of electric vehicles. Components made of Ultra-Silent are generally lightweight and consist of recycled PET fibers that can be cultivated fully. This makes them environmentally-friendly.

Further Report Findings-

• Based on shielding type, the heat shields segment is anticipated to generate the largest market share in the coming years backed by its rising usage in automobiles.
• Asia Pacific held USD 4.74 billion revenue in the year 2019 owing to the ongoing development of connected mobility and smart transportation system in the developing nations, such as India and China.
• Stoked by the current outbreak of Covid-19 pandemic, the masses are mainly focusing on buying the essentials rather than investing in luxurious goods or vehicles. It may hamper the growth of market. 

The global market can be segmented in the following way: