The global heat shield market size was USD 4.21 Billion in 2021 and is expected to register a revenue CAGR of 5.7% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by growing technological innovation in the manufacture of heat shields, along with increased utilization for defense and security purposes.
Lithium-ion batteries have been known to experience thermal runaway, a negative feedback loop that results in high temperatures and, eventually, fire or explosion. These batteries require exceptional thermal insulation as a result. In addition, they can increase performance by reducing Intake Air Temperature (IAT), which is necessary for the best engine efficiency. Adoption of new technological innovations in heat shield manufacturing is a major factor driving sales of heat shields. The increasing adoption of Electric Vehicles (EVs) and Plug-in Hybrid Electric Vehicles (PHEVs) in which a heat shield is not necessary is limiting revenue growth of the market.
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One of the major drivers of the heat shield market is the increasing demand for thermal insulation in various industries, such as aerospace, automotive, and defense. Lithium-ion batteries have been known to experience thermal runaway, a negative feedback loop that results in high temperatures and, eventually, fire or explosion. These batteries require exceptional thermal insulation as a result. Heat shields are also used to reduce Intake Air Temperature (IAT) in automotive engines, which can improve performance and efficiency. Additionally, the adoption of new technological innovations in heat shield manufacturing is another major factor driving sales of heat shields.
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
Zircotec, Morgan Advanced Materials, Thermo Tec, Cummins Inc., Dana Holding Corporation, Lydall, Inc., Autoneum, Progress-Werk Oberkirch AG, ElringKlinger AG, and Carcoustics.
Opportunities and Challenges:
The global heat shield market offers several growth opportunities, such as the development of advanced materials and technologies that can enhance thermal insulation, durability, and performance. The market also offers opportunities for expansion in emerging markets, such as Asia-Pacific, where the demand for heat shields is expected to grow due to the rapid industrialization and infrastructure development.
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The global market is further segmented into type and application:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Rigid Heat Shield
- Flexible Heat Shield
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Light Commercial Vehicles
- Buses and Coaches
Material Outlook (Revenue, USD Billion; 2019-2030)
- Stainless Steel
- Thermoset Materials
Product Outlook (Revenue, USD Billion; 2019-2030)
- Exhaust Heat Shield Insulation
- Spark Plug Boot Head Shield
- Fire Arm Heat Shield
- Turbo Heat Shield
- Thermal and Heat Shield Sleeving
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The global heat shield market is expected to grow at a steady pace over the forecast period, driven by the increasing demand for thermal insulation in various industries, such as aerospace, automotive, and defense. The market also offers several growth opportunities for the development of advanced materials and technologies that can enhance thermal insulation, durability, and performance. However, the market also faces several challenges, such as high manufacturing and installation costs, and intense competition.Top of Form
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