Increasing Electric Vehicle (EV) sales boosts Automotive Shielding Market
Another factor driving the growth of the automotive shielding market is the increasing sales of EVs. The increased sales of EVs is driving the EMI shielding market. More EVs on the road means more number of electronic components in a vehicle would need to be shielded. Thus, the EMI shielding market has great potential in case of EVs.
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Automotive shielding helps to increase fuel efficiency and reduces emissions. The automotive shielding market is divided into two parts—heat shields and EMI shields. The heat shield protects the vehicle body and other components from excessive heat generated by the internal combustion engine and the exhaust system of the vehicle. Whereas, EMI shields are used in electronic devices to eliminate electromagnetic interference (EMI). Electromagnetic interference (EMI) is the disturbance created by external sources such as electronic devices, which affects the electrical circuitry.
Technological advancements and regulations to reduce emissions have increased the number of electronic systems in a vehicle, which in turn has increased the emission of EMI. Manufacturers are using board-level shielding to eliminate excess EMI in a vehicle. Although shielding has been used in vehicles since long, component reliability is considered to be an important factor in the selection of the method of 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 the 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 expected to boost the automotive shielding market in the region.
Some of the Key Players in Automotive Shielding Market:
- Laird (UK)
- ElringKlinger (Germany)
- Federal-Mogul (US)
- Morgan Advanced Materials (UK)
- Dana (US)
- Henkel (Germany)
- Kitagawa (Japan)
- Schaffner (Switzerland)
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The BEV segment is projected to be the fastest-growing segment of the aerodynamic market for automotive. This segment is estimated to have the highest growth potential in the aerodynamic market for automotive, especially in North America, which is projected to have the highest growth in sales of BEVs. With the BEV manufacturers focusing on increasing the vehicle range on a single charge, as well as the exponentially increasing BEV sales around the globe because of the emission regulations, the automotive aerodynamic market for this segment is bound to skyrocket.
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