Automotive Shielding Market Share

APAC Market Statistics

The Asia Pacific automotive shielding market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by a growing number of installed bases of global navigation satellite system (GNSS) devices and rising awareness amongst the automobile manufacturers for electromagnetic interference (EMI) sourced by the navigation system. It was found that the Asia Pacific region leads the way in the usage of the navigation system, as it accounted for ~900 million GNSS devices in 2021. Some developing countries such as China and India have expanded the automotive industry over the past few years which positively contributes to market growth. Furthermore, the rising initiatives including Vehicle-to-Infrastructure (V21), Vehicle-to-Vehicle (V2V), and Vehicle-to-Pedestrian (V2P) along with advancement in communication technologies are anticipated to increase the adoption rate of electronic systems in vehicles which in turn is projected to boost the global automotive shielding market.

North American Market Forecast

On the other hand, the North America automotive shielding market is also attributed to grow at a significant rate and hold a noteworthy share. The burgeoning population demanding vehicles and luxurious cars is the major factor projected to increase the adoption of automotive shielding in the upcoming years. Further, the presence of major key players investing in research and development activities to develop fuel-efficient vehicles to curb carbon emissions and government policies to reduce environmental pollution are also anticipated to bring favorable opportunities for market growth in the region.

Frequently Asked Questions (FAQ)

Growing number of vehicles as well as the rising number of electric vehicles along with a surge in the sales of battery chargers are some of the major factors anticipated to drive the growth of the market.

The market is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2033.

Design complexity as well as the risk of product failure along with unsatisfactory sound absorption performance by the conventional panel are some of the factors estimated to hamper the market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Henkel AG & Co. KGaA, ElringKlinger AG, TE Connectivity Ltd., PPG Industries, Inc., Laird Technologies, Inc., Tenneco Inc., Dana Incorporated, Morgan Advanced Materials plc, 3M Company, Parker-Hannifin Corporation, Marian, Inc., and other key players.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, material type, application, vehicle type, and by region.

The passenger cars segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Automotive Shielding Market Share