Automotive Shielding Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Automotive Shielding Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, September 17, 2024 /EINPresswire.com/ -- The automotive shielding market has experienced robust growth in recent years, expanding from $16.02 billion in 2023 to $17.14 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to electromagnetic interference (EMI) concerns, regulatory compliance, consumer safety concerns, increased vehicle connectivity, globalization of automotive supply chains.
What Is The Estimated Market Size Of The Global Automotive Shielding Market And Its Annual Growth Rate?
The automotive shielding market is projected to continue its strong growth, reaching $22.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to lightweighting initiatives, autonomous vehicles, electrification of vehicles, advanced driver assistance systems (ADAS), connectivity in electric vehicles, increased vehicle complexity.
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Growth Driver Of The Automotive Shielding Market
Increasing vehicle production is expected to propel the growth of the automotive shielding market going forward. A vehicle is a machine with an engine and wheels that transports people or cargo. Due to rapid urbanization and the expansion of global auto manufacturers, vehicle production has been on the rise in recent years. Since automotive shielding is used in electronic components of vehicles, increased vehicle production results in an increased demand for automotive shielding.
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Who Are the Leading Competitors in the Automotive Shielding Market Share?
Key players in the automotive shielding market include Elringklinger AG, Federal-Mogul Holdings LLC, Laird Performance Materials Inc., Marian Inc., Morgan Advanced Materials Plc, Parker Hannifin Corporation.
Which Key Trends Are Driving Automotive Shielding Market Growth?
Technological advancements have emerged as the key trend gaining popularity in the automotive shielding market. Major companies operating in the automotive shielding sector are focused on introducing new technologies to strengthen their market position and meet customer demand.
How Is The Global Automotive Shielding Market Segmented?
1) By Shielding Type: Heat Shielding, EMI Shielding
2) By Material Type: Metallic, Non-Metallic
3) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
Geographical Insights: Asia-Pacific Leading The Automotive Shielding Market
Asia-Pacific was the largest region in the automotive shielding market in 2023.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive shielding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive Shielding Market Definition
Automotive shielding refers to a method of safeguarding a vehicle's body and its components using heat-insulating materials. The automotive shielding is used to protect the automotive components against excessive heat generated by the engine and exhaust systems by employing heat-insulating materials.
Automotive Shielding Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive shielding market report covering trends, opportunities, strategies, and more
The Automotive Shielding Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive shielding market size, automotive shielding market drivers and trends, automotive shielding market major players, automotive shielding competitors' revenues, automotive shielding market positioning, and automotive shielding market growth across geographies. The automotive shielding market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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