Automotive Shielding Market Size, Share, Growth Analysis, By Heat application(Engine compartment, Exhaust system, Turbocharger, Under chassis), By EMI Application(Adaptive cruise control (ACC), Electric motor, Engine control module (ECM), Forward collision warning (FCW)), By Material(Metallic, non-metallic), By Shielding(EMI shielding, Heat shielding), By Vehicle type(Passenger car, Light commercial vehicle, Heavy commercial vehicle), By Region - Industry Forecast 2024-2031

Automotive Shielding Market size was valued at USD 8.28 billion in 2019 and is poised to grow from USD 9.13 billion in 2023 to USD 20.24 billion by 2031, growing at a CAGR of 10.2% in the forecast period (2024-2031).

The automotive shielding market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key automotive shielding market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions 'Morgan Advanced Materials', '3M Company', 'Tenneco Inc.', 'ElringKlinger AG', 'Dana Incorporated', 'Federal-Mogul LLC', 'Henkel AG & Co. KGaA', 'Laird PLC', 'Parker Hannifin Corporation', 'Kitagawa Industries Co., Ltd.', 'Schaffner Holding AG', 'Autoneum Holding AG', 'HEYCO Products Corp.', 'Chomerics North America', 'TDK Corporation', 'KEMET Corporation', 'SCHAFFNER EMV AG', 'Henkel Electronic Materials LLC', 'Leader Tech Inc.', 'Tech-Etch Inc'

The automotive industry has seen significant advancements in the designs, performance, and functionality of automobiles in recent years. Customers' shifting preferences for technologically advanced systems, as well as the growing popularity of fuel-efficient, high-performance, and light-weight automobiles, have fuelled the adoption of electronic systems and components in vehicles. With technological improvement, the number of electronic components in an automobile has expanded, driving the automotive shielding market. The electronic components and installed systems in a car govern numerous electrical and mechanical operations, and so play an important part in automotive technology. The growing number of electronic components and technologically advanced systems in vehicles creates a high demand for comfort and safety features, pushing the need for complicated electronic circuitry.

Increasing electric vehicle production and growing popularity of autonomous vehicles are propelling the automotive EMI shielding market forward. Owing to rising carbon footprints, which are causing air pollution and warming, the automobile industry is transitioning toward vehicle electrification. Over the last few years, automobile manufacturers have been investing heavily in research to produce electric vehicles and creating strategies to improve the levels of autonomy in self-driving vehicles. Because of the increasing growth of automobiles, electrical and electronic systems and components are being used extensively. In comparison to heat shields, the transition from traditional combustion cars to electric vehicles is producing a strong demand for electromagnetic interference (EMI) shields.

Based on region automotive shielding market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. Asia-Pacific is expected to be the most important market. The Asia-Pacific region, followed by Europe and North America, is predicted to be the market leader for automotive shielding. During the predicted period, high production and demand for autos drive demand. This demand is related to rising income levels in the region, which allows people to purchase more high-end luxury automobiles. The region's electric vehicle market is expanding at an alarming rate. China is the world's largest market for electric vehicles. China's electric vehicle market share climbed from 4.5 percent to 4.7 percent, with over 1.8 million plug-in electric automobiles sold in the country. The region's key players are spending extensively in the inclusion of cutting-edge technologies such as connected automobiles to prevent accidents and improve the driving experience. This will necessitate improved electrical systems in the car, resulting in a significant market demand for EMI shielding. The region's demand for electric vehicles is also high, owing to increased awareness about the environmental impact of conventional fuels and the financial benefits offered by the region's governments.