[FURL=https://www.industryarc.com/Research/Heat-Shield-Market-Research-510776?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Heat Shield Market[/FURL] is estimated to witness $4.3 billion by 2026 with a CAGR 4.96% during the forecast period 2021-2026. Heat shields are utilised to protect the device's parts against the heat from their sources. The constant increase in the automotive sector and the number of temperature-sensitive components in the modern car is boosting the demand for the Metallic heat shield. Moreover, integration and customization of heat shields with advanced technologies has been able to ensure new and innovative heat shielding components for Plug in Hybrid Electric Vehicle and an increase in production of Hybrid electric vehicle is driving the Heat Shield Market size.Key Takeaways
Automotive segment is estimated to witness substantial growth over the forecasted period owing to the rising demand for luxury cars, to protect the heat sensitive components from heat generated by it due to high performance engine. Thus heat shield is used thereby boosting the market demand.
Asia-Pacific is estimated to witness largest heat shield market share followed by North America owing to the high rate of automotive production and the presence of manufacturers.
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Heat Shield Market Segment Analysis – By Geography
Asia-Pacific is estimated to witness largest share 30.1% in heat shield market share followed by North America owing to the high rate of automotive production as well as rise in disposable income and increased use of advanced electronics in the countries such as Japan, South Korea, India, and China. Moreover, rise in industrialization, availability of adequate amount of raw material and labour force as well as proper transportation are the major factor driving the heat shield market in APAC region. The demand for luxury cars has increased rapidly in the last five years in countries like India, China and Japan. Luxury cars have become a symbol of consumer predilection, creating more demand. In the luxury car market, China has seen the highest growth. As these cars generate more heat it requires head shield more frequently and thus boosting the demand for such head shield to protect the components.
Heat Shield Market Segment Analysis Drivers
Technological advancement in vehicle
Increase engine power
Heat Shield Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Solar Cell Fabric market. Heat Shield top 10 companies – Autoneum Holding AG, Happich GmbH, Dana Holding Corporation, Federal Mogul Holding Corporation, Elringklinger AG, Lydall Inc., UGN Inc., ThermoTec Automotive, Zircotec, Morgan Advanced Materials, Progress-Werk Oberkirch AG, Talbros Automotive Components Ltd.
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