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Europe Automotive Heatshield Market Share Continuously Grow at $665 Mn by 2026

Author : Ronak Bora | Published Date : 2021-08-26 

Based on these factors, it is estimated that the Europe automotive heatshield market size will be worth more than US$665 million by 2026. Vehicle ownership trends in European countries are rapidly evolving and automotive production is on the rise, creating a favorable growth scenario for the Europe automotive heatshield market. Europe accounted for nearly 21% of the global automotive production in 2019. As of 2020, around 312.7 million vehicles were in circulation on European roads, according to the European Automobile Manufacturers Association.

Stricter government and regulatory standards to alleviate greenhouse gas emissions has created a huge demand for lightweight components such as heatshields. The European Union’s 2020 Climate and Energy targets require the region to cut down carbon emissions by up to 20% compared to 1990 levels. Consequently, automakers and automotive OEMs are working on developing heatshields using lightweight materials.

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Heatshields are an important vehicle component that help prevent damage caused by radiant heat from the engine and other automotive systems. Aluminum, aluminized steel and stainless steel are among the different types of materials used for making vehicle heatshields.

Aluminum is widely preferred in heatshields owing to excellent properties such as light weight, high temperature resistance, and low thermal expansion coefficient. The widespread adoption of electric vehicles which require the installation of powerful batteries and other electronic components will certainly boost the demand for efficient heat protection systems.

Aluminum is expected to capture more than 40% revenue share of the Europe automotive heatshield market 2026. European countries have experienced a monumental rise in the adoption of passenger vehicles, vans, and pickup trucks. These trends can be associated with the increasing household income levels of consumers over the past few years. PCVs currently account for more than 80% of all vehicles in Europe and these numbers are expected to further escalate in the future.

The Europe automotive heatshield market share from the PCV segment is projected to expand at a CAGR of more than 3.3% through 2026.

Considering the distribution channel, the sales of automotive heatshields through the aftermarket channel are likely to grow considerably in the forthcoming years. According to the European emission standards, the European Union is aiming to expand vehicle production to 30 million by the year 2030. These factors indicate that the regional aftermarket players will witness tremendous opportunities in the years to come.

The demand for Europe automotive heatshield market is expected to rise substantially by 2026, with the ongoing shift towards more powerful engines and the increasing adoption of electric vehicles. Rapid growth of the electric mobility trend in European Union has been fueled by the introduction of stricter government regulations regarding environmental sustainability and energy efficiency.

The automotive sector in European Union is known to be one of the most heavily regulated industries across the world. The need to meet these standards is encouraging automakers towards developing efficient, sustainable, and lightweight auto designs that can enhance fuel efficiency and cut carbon and greenhouse gas emissions from vehicles to a large extent.

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Boyd Corporation, Martin Group, QUSA Thermal, Inc., Autoneum Holding Ltd., International GmbH, HAPPICH GmbH, Carcoustics, ISOLITE GmbH, Rieter, iSoKlick Holding GmbH, and Estamp S.A.U. are presently some of the leading manufacturers in Europe automotive heatshield market.

The industry is poised to witness the emergence of numerous new industry players in the next few years, which will bolster the Europe automotive heatshield market landscape significantly.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Research Methodology

1.2    Market estimation & forecast parameters

1.3    List of Data sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    Europe Automotive Heatshield market snapshot

Chapter 3   Europe Automotive Heatshield Industry Insights

3.1    Industry coverage

3.2    Industry size and forecast, 2016 – 2026

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Future trends

3.4.1    Innovation Landscape

3.5    Raw material analysis

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Drivers

3.7.2    Restraints

3.8    Application growth mapping

3.9    Industry analysis: Porter’s

3.10    Competitive benchmarking

3.10.1    Strategy dashboard

3.11    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1636/europe-automotive-heatshield-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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