According to a new market research report "Automotive Shielding Market by Shielding (Heat, EMI), Heat Application (Engine, Exhaust, Turbocharger), EMI Application (ACC, ECU, IPA, LDE, FCW, Electric Motor), Material Type, EV (BEV, HEV), Vehicle (PC, LCV, HCV), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is estimated to be USD 7.46 billion in 2018 and is projected to reach a market size of USD 12.24 billion by 2025, growing at a CAGR of 7.33% during the forecast period.
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The EMI shielding segment is estimated to be the fastest growing market in the Automotive Shielding Market during the forecast period
The proliferation of advanced features and electronic components in a vehicle is expected to drive the growth of EMI shielding market. There is a high production of vehicles with advanced technologies in countries such as China, India, Japan, US, Germany, and others. Electromagnetic compatibility (EMC) is the ability of an electrical device or circuit to function within its electromagnetic environment without causing electromagnetic interference (EMI) to the other devices in the system. Moreover, the electrical device or circuit must be electromagnetically susceptible or immune to be protected from the harmful effects of external electromagnetic waves. The increasing use of advanced features such as adaptive cruise control, lane departure warning, blind spot detection, and others has increased the number of electronic components in a vehicle, which in turn is driving the overall EMI shielding market.
Passenger car to be the largest segment of the Automotive Shielding Market, by vehicle type
The passenger car segment of the Automotive Shielding Market is estimated to be the largest market. The growth of this segment is expected to continue due to the increased production of passenger cars, stringent emission laws, and increasing use of safety features in these vehicles. Also, the rising demand for fuel-efficient vehicles, coupled with increasingly stringent emission norms, has propelled the growth of the passenger car segment in heat shields market. On the other hand, the increased use of advanced technologies and electronic components is driving the automotive EMI shielding market.
Asia Pacific is projected to be the fastest growing regional market for automotive shielding
Asia Pacific is estimated to be the fastest growing market for automotive shielding. The market growth in the region can be attributed to the increased vehicle production, growing automotive safety concerns, and high demand for luxury vehicles in Japan, India, China, and South Korea. Also, the production expansions made by automobile manufacturers to meet the rising consumer demand globally, increasing use of advanced electronics, and growing demand for fuel-efficient vehicles are likely to boost the Automotive Shielding Market in the region. Moreover, the governments of Asian countries are focusing on increasing the safety features in vehicles, which is fueling the Automotive Shielding Market in the region.
Furthermore, the report encompasses different strategies, such as mergers and acquisitions, partnerships and collaborations, and product upgradations, adopted by major players to increase their share in the Automotive Shielding Market. Some of the major technology vendors include Laird (UK), ElringKlinger (Germany), Federal-Mogul (US), Morgan Advanced Materials (UK), Dana (US), Henkel (Germany), Kitagawa (Japan), and Schaffner (Switzerland) among others.
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