USD 4.18 billion
Heat Shield Market Size, Share, Growth Analysis, By Type(Metallic and non-metallic), By Application(Automotive, Aircraft and firearms), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2240 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Heat Shield Market Insights
Heat Shield Market size was valued at USD 4.18 billion in 2021 and is poised to grow from USD 4.41 billion in 2022 to USD 6.77 billion by 2030, growing at a CAGR of 5.5% during the forecast period (2023-2030).
The global heat shield market is a rapidly expanding industry driven by the growing demand for advanced thermal management solutions across various sectors. Heat shields play a crucial role in protecting components and systems from excessive heat, ensuring optimal performance, durability, and safety. The market is witnessing significant growth due to increasing industrialization, the rising adoption of high-temperature materials in automotive and aerospace applications, and the need to comply with stringent emissions and energy efficiency regulations. The automotive sector is a major contributor to the heat shield market, with the growing production of electric vehicles and the need to protect sensitive components from thermal damage. Similarly, the aerospace industry relies on heat shields to protect aircraft structures, engines, and critical components from extreme heat encountered during flights. Furthermore, the rise in demand for heat shields in industrial applications, including oil and gas, power generation, and manufacturing, is further propelling market growth. Technological advancements, such as the development of lightweight and highly efficient heat shield materials, are driving innovation in the market. Additionally, the increasing focus on sustainable and eco-friendly solutions is leading to the adoption of heat shields made from recycled and recyclable materials. Geographically, North America dominated the global market due to the presence of established automotive and aerospace industries, while the Asia-Pacific region is witnessing rapid growth attributed to the expanding industrial and automotive sectors in countries like China and India. Overall, the global heat shield market is poised for significant expansion as industries increasingly prioritize thermal management solutions to enhance performance, efficiency, and safety in their operations.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Metallic
Fastest Growth
Metallic
Growth Rate
5.5% CAGR
Global Heat Shield Market ($ Bn)
Country Share for North America Region (%)
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Heat Shield Market Segmental Analysis
The Global Heat Shield Market is segmented by type, application, and region. Based on type, the market can be segmented into metallic and non-metallic. Based on application, the market is segmented into Automotive, Aircraft and firearms. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Heat Shield Market Analysis by Type
The dominant segment in the global heat shield market is metallic heat shields. Metallic heat shields have been widely adopted across various industries due to their excellent thermal conductivity and high strength properties. They are commonly used in automotive, aerospace, and industrial applications where extreme heat protection is required. Metallic heat shields offer superior performance in terms of heat dissipation and durability, making them a preferred choice for critical components and systems.
On the other hand, the fastest-growing segment in the heat shield market is non-metallic heat shields. Non-metallic heat shields, such as ceramic and composite materials, are witnessing rapid growth due to their lightweight nature, exceptional thermal insulation properties, and resistance to corrosion and high temperatures. The demand for non-metallic heat shields is increasing in industries like automotive and aerospace, as they enable weight reduction, improved fuel efficiency, and enhanced thermal management. Moreover, advancements in non-metallic materials and manufacturing processes are driving the adoption of these heat shields for next-generation applications, making them the fastest-growing segment in the market.
Heat Shield Market Analysis by Application
The dominant segment in the global heat shield market is the automotive industry. Heat shields play a critical role in protecting sensitive automotive components, such as exhaust systems, catalytic converters, and engine compartments, from excessive heat. The automotive sector has a high demand for heat shields due to the increasing production of vehicles, particularly electric vehicles (EVs) that require effective thermal management to maintain optimal performance and safety. Heat shields in automotive applications help enhance energy efficiency, reduce emissions, and ensure the longevity of vehicle components.
The fastest-growing segment in the heat shield market is the aircraft industry. Heat shields are essential in aviation to protect aircraft structures, engines, and critical components from extreme temperatures encountered during flights. With the growing air travel demand and the expansion of commercial and defense aircraft fleets, there is an increasing need for advanced heat shield solutions. Additionally, the development of innovative aircraft designs, such as supersonic and hypersonic vehicles, requires highly efficient heat management systems, driving the demand for advanced heat shields. The aerospace industry's emphasis on lightweight materials and fuel efficiency further propels the growth of heat shields in this sector.
Global Heat Shield Market By Type
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Heat Shield Market Regional Insights
North America dominated the global heat shield market. North America has a well-established automotive and aerospace industry, which drives the demand for heat shields in these sectors. The region is home to major automotive manufacturers and aerospace companies, resulting in a significant market share for heat shields. The stringent regulations regarding emissions and safety standards in North America also contribute to the dominance of this region in the heat shield market.
The fastest-growing region in the heat shield market is Asia Pacific. Asia Pacific is experiencing rapid industrialization, particularly in countries like China and India, leading to increased demand for heat shields in various industries such as automotive, aerospace, and manufacturing. The expanding automotive sector, coupled with the growing production of electric vehicles, is a key driver of the heat shield market in this region. Additionally, the rising investments in infrastructure development and the presence of emerging economies contribute to the fast-paced growth of the heat shield market in the Asia Pacific region.
Global Heat Shield Market By Geography
- Largest
- Fastest
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Heat Shield Market Dynamics
Heat Shield Market Drivers
Increasing demand for thermal management solutions in the automotive and aerospace industries
- One key driver of the global heat shield market is the increasing demand for thermal management solutions in the automotive and aerospace industries. As vehicles become more advanced and efficient, the need to manage heat effectively becomes crucial to ensure optimal performance, reduce emissions, and enhance safety. This drives the demand for heat shields to protect sensitive components from excessive heat.
Heat Shield Market Restraints
High cost of advanced heat shield materials and technologies
- A key restraint for the market is the high cost of advanced heat shield materials and technologies. Developing and implementing innovative heat shield solutions often requires substantial investments in research, development, and manufacturing processes. The cost of these advanced materials and technologies can pose a challenge for some industries, especially for small and medium-sized enterprises with limited budgets. Cost considerations may hinder the widespread adoption of heat shields, particularly in price-sensitive markets.
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Heat Shield Market Competitive Landscape
The competitive landscape of the global heat shield market is characterized by intense competition among a range of manufacturers and suppliers. The market is highly fragmented, with numerous players offering a wide array of heat shield solutions across different industries. Key factors that influence competition include product innovation, technological advancements, pricing strategies, and the ability to meet stringent regulatory requirements. Market players focus on developing lightweight, high-performance heat shield materials and systems to cater to the evolving needs of industries such as automotive, aerospace, and manufacturing. Collaborations, partnerships, and mergers and acquisitions are common strategies employed by market participants to expand their market presence, enhance product portfolios, and gain a competitive edge.
Heat Shield Market Top Player’s Company Profiles
- Dana Limited (US)
- Federal-Mogul Holding Corporation (US)
- Autoneum (Switzerland)
- Lydall Inc. (US)
- Heat Shield Products (US)
- Progress-Werk Oberkirch AG (Germany)
- UGN Inc. (US)
- Zircotec (UK)
- ThermoTec (US)
- Elringklinger AG (Germany)
- Happich GmbH (Germany)
- Carcoustics (Germany)
- Datsons Engineering Works Private Limited (India)
- J&S GmbH Automotive Technology (Germany)
- NICHIAS Corporation (Japan)
- Cummins Inc. (US)
- Hyundai Motor Company (South Korea)
- Mitsubishi Heavy Industries, Ltd. (Japan)
- MAHLE GmbH (Germany)
Heat Shield Market Recent Developments
- In March 2022, Morgan Advanced Materials (UK) launched a new lightweight heat shield for electric vehicle (EV) batteries, designed to provide effective thermal management and protect battery cells from extreme temperatures.
- In September 2021, Dana Limited (US) introduced a new line of lightweight heat shields for electric and hybrid vehicle applications, aiming to enhance thermal efficiency and reduce weight.
- In June 2021, Autoneum (Switzerland) announced the development of a new lightweight heat shield technology utilizing recycled materials, aligning with their commitment to sustainability and eco-friendly solutions.
Heat Shield Key Market Trends
- One key market trend in the global heat shield market is the increasing adoption of lightweight materials and advanced manufacturing techniques. With the growing emphasis on fuel efficiency, reduced emissions, and improved performance, industries such as automotive and aerospace are seeking heat shield solutions that are lightweight yet highly effective in managing heat. This trend is driving the development and utilization of innovative materials, such as composites and ceramics, as well as advanced manufacturing processes like additive manufacturing. Lightweight heat shields offer benefits such as weight reduction, enhanced thermal insulation, and improved overall system efficiency, making them a sought-after trend in the market.
Heat Shield Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global heat shield market analysis, the market is experiencing significant growth driven by the increasing demand for advanced thermal management solutions across various industries. Metallic heat shields dominate the market due to their thermal conductivity and high strength properties. Non-metallic heat shields, such as ceramics and composites, are the fastest-growing segment, driven by their lightweight nature and exceptional thermal insulation properties. The automotive sector is the dominant application segment, while the aerospace industry is witnessing rapid growth. North America leads the market, while the Asia Pacific region shows the fastest growth. Key drivers include the need for thermal management in automotive and aerospace industries, while the high cost of advanced materials acts as a restraint. The market is characterized by intense competition, with companies focusing on product innovation and partnerships to gain a competitive edge. Key trends include the adoption of lightweight materials and advanced manufacturing techniques to enhance efficiency and performance. Overall, the global market is poised for significant expansion as industries prioritize thermal management solutions for improved performance and safety.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.18 billion |
| Market size value in 2031 | USD 6.77 billion |
| Growth Rate | 5.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Heat Shield Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Heat Shield Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Heat Shield Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Heat Shield Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Heat Shield Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Heat Shield Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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