Automotive Shielding Market Size

Automotive Shielding Market size is anticipated to cross USD 32 Billion by the end of 2033, witnessing around 4% CAGR during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive shielding was USD 21 Billion. The growth of the market can primarily be attributed to the growing demand for vehicles worldwide with the rising need to prevent vehicles from damage and malfunction. Also, the increased production rate of vehicles and rising focus on manufacturing fuel-efficient vehicles are anticipated to impetus significant revenue generation. It was found that there were about 80 million motor vehicles produced worldwide in 2021, with a rise of 3% from 2020.

Automotive shielding reduces the coupling of radio waves (RF shielding) and blocks electromagnetic and electrostatic fields from interfering with other electronic systems and devices. Rapid industrialization and the rising number of automobiles globally along with high prioritization for engine-efficient, light-weighting vehicles for abiding by the standards of fuel efficiency worldwide are estimated to propel the global automotive shielding market during the forecast period. Furthermore, the escalation in preference for electronic systems inside a vehicle and the adoption of technologically advanced systems increases the risk of creating strong electromagnetic fields which affect human health and cause inference and cross-connection of systems causing malfunctions. This trend is anticipated to bring in the need for the automotive shield which in turn, thus, helps in market expansion. In addition to the aforementioned factors, as a result of the surge in stringent emission control regulations by the government, automotive OEMs are compelled to reduce engine size, apply protective shields, and install high-efficient systems to enhance the driving experience and lower fuel consumption. This factor is projected to create a positive outlook for market growth in the forecast period.