Automotive Shielding Market Projected to Gain Significant Value by 2020
by Chemitron Expo in Mission America
The global automotive shielding market is set to gain traction from the rising government initiatives to curb global warming and pollution. Therefore, manufacturers are focusing in electrification of the vehicles to reduce carbon footprints. This information is given by Fortune Business Insights™ in a recently published report, titled, “Automotive Shielding Market Size, Share & Industry Analysis, By Shielding Type (Heat Shield and Electromagnetic Interference [EMI] Shield), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2020-2027.” The report further states that the automotive shielding market size was USD 7.54 billion in 2019 and is projected to reach USD 16.52 billion by 2027, thereby exhibiting a CAGR of 10.3% during the forecast period. The following market is expected to decline significantly in 2020 due to the COVID-19 impact and hence, the 2020-2027 CAGR is high.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
This Report Answers the Following Questions:
- What are the forecast, historical, and current sizes of the market?
- Which company is set to generate the highest revenue in the coming years?
- How will the market be affected in terms of growth?
- Which strategies are the key companies following to surge sales of automotive shields?
- How will the Covid-19 pandemic impact the market during the forthcoming years?
Drivers & Restraints-
How will the Outbreak of Covid-19 Pandemic Affect the Market?
- Owing to the complete lockdown measures declared by the regulatory bodies worldwide, the entire manufacturing operations have come to a standstill.
- The service sector is also shut down.
- The above factors are affecting the manufacturing supply chain immensely. These have mainly impacted those industries that are completely dependent on the goods, services, and materials manufactured in China.
- The mankind are presently prioritizing their basic needs instead of spending hefty amounts of money on luxurious goods and vehicles.
- The quarantine measures, as well as the reduced workforce have made it necessary for the manufacturers to shut their production lines.
- All these above-mentioned factors prove that the overall sales of vehicles would decline and would result in the low demand for automotive shields. It would further decline the automotive shielding market growth in the coming years.
Fortune Business Insights™ provides a list of all the automotive shielding companies.
They are as follows:
- Tenneco Inc.
- Marian, Inc.
- Kitagawa Corporation
- ElringKlinger AG
- Henkel AG & Co. KGaA
- Lydall, Inc.
- PARKER HANNIFIN CORP
- Morgan Advanced Materials
- SCHAFFNER HOLDING AG
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