North America Automotive Heat Shield Market Is Estimated To Register A CAGR Of 3.6% By 2028Posted by rahul nikade on October 17th, 2022 North America Automotive Heat Shield Industry Overview The North America automotive heat shield market size was valued at USD 1.9 billion in 2020 and is expected to grow at a compounded annual growth rate (CAGR) of 3.6% from 2021 to 2028. The demand for automotive heat shields in North America is projected to grow over the forecast period owing to faster adoption of electric vehicles requiring heat shields for heat management and improving vehicle performance. The market was impacted during the initial lockdown in the region, as COVID-19 protocols led to disruption in the supply chain of components, resulting in delays in development & testing of vehicles. In 2020, the vehicle miles traveled declined to 2.8 billion in the U.S., which was due to the COVID-19 travel restrictions and lockdowns imposed across the country. However, post-pandemic trend of automotive movement is expected to return to normalcy leading to an increase in vehicle miles traveled in the country, thereby, increasing the demand for automotive heat shields over the forecast period. Gather more insights about the market drivers, restrains and growth of the North America Automotive Heat Shield Market Aluminum and steel are primarily imported from China, India, Australia, Japan, & Russia and there was disruption in the supply of raw material due to the stringent COVID-19 restrictions in countries. Furthermore, fluctuating oil prices coupled with increasing transportation cost due to logistical complexity is expected to impact demand in 2021. Increasing demand for the product in the development of electric cars is expected to improve its penetration in the automotive industry. As compared to IC engines, electric cars are more susceptible to performance drops due to ineffective thermal management which significantly impacts the overall range. Heat shields used during battery pack manufacturing, battery housing and motor installations are key areas of focus for automotive manufacturers. Browse through Grand View Research's Advanced Interior Materials Industry Research Reports
North America Automotive Heat Shield Market Segmentation Grand View Research has segmented the North America automotive heat shield market on the basis of product, application, material, vehicle-type and region: North America Automotive Heat Shield Product Outlook (Revenue, USD Million; 2017 - 2028)
North America Automotive Heat Shield Application Outlook (Revenue, USD Million; 2017 - 2028)
North America Automotive Heat Shield Material Outlook (Revenue, USD Million; 2017 - 2028)
North America Automotive Heat Shield Vehicle-type Outlook (Revenue, USD Million; 2017 - 2028)
North America Automotive Heat Shield Regional Outlook (Revenue, USD Million; 2017 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the North America automotive heat shield market include:
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