Egypt Automotive Heat Shield Market Outlook

egypt automotive heat shield market is witnessing considerable traction for the past few years. a heat shield is used to prevent the engine from absorbing heat from other parts or components. heat shield helps in better cooling of the engine and also reduces the emission of harmful gases. with a considerable growth in the automotive aftermarket in egypt, the demand for automotive heat shields is expected to witness a robust growth at a cagr of xx% over the forecast period 2018 to 2032. the egyptian government has liberalised economic policies like trade facilitation agreements, formalising the import and export process and simplifying the taxation and regulatory framework to promote domestic and export market. these initiatives are expected to spur the automotive aftermarket, which in turn is likely to drive the demand for heat shields in the near future. the rising per capita income in the country is resulting in higher purchasing power of the people and this will further aid the growth of the automotive heat shield market. furthermore, the surge in the number of private vehicle owners in egypt has also encouraged the auto component manufacturers to increase their production capacity and offer a variety of products, further aiding the growth of this market. additionally, government regulations are likely to impose restrictions on vehicle emissions. this will drive the demand for heat shields to prevent the exhaust system from heat damage. additionally, the introduction of new emission standards in egypt and the implementation of advanced vehicle safety features, such as electronic stability control, also provides an impetus to this market. meanwhile, consolidation of automotive manufacturers in egypt and the pricing pressure from the suppliers is expected to challenge the revenue generation of automotive heat shield manufacturers in the coming years. moreover, the rising cost of raw materials, such as iron, steel and aluminum, is anticipated to restrain the market growth to an extent. this cost increase emerges primarily due to higher demand for automotive components from china, india and other parts of the world. despite the restraints, the rising automotive aftermarket and governmental support in the form of incentive plans and initiatives are likely to fuel the demand for automotive heat shields in the coming years. the market also provides opportunities to suppliers and manufacturers of automotive heat shields to come up with innovative products and expand the product portfolio.