Automotive Active Grille Shutter Market set to reach US$ 1,206.0 million by 2024
February 20, 2020
Automotive Active Grille Shutter Market Overview:
The automotive active grille shutter market is likely to grow at an impressive double-digit rate over the next five years to reach US$ 1,206.0 million in 2024. The auto industry has efficaciously been ushering in a new era of aerodynamic vehicles with a meticulous investment into advanced components that can address the changing business requirements in the most effective manner. All the major automakers have vigorously been incorporating active components in their most-renowned vehicle models with the purpose to improve the overall fuel efficiency of vehicles in order to address stringent government regulations, such as CAFE Standards and EU Commission on Carbon Emissions Reduction Targets.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Active Grille Shutter has been viewed from various perspectives such as:
- By Vehicle Type (Passenger Car, LCV, MHCV)
- By Shutter Van Type (Horizontal Vanes, Vertical Vanes)
- By Shutter Type (Visible AGS, Non-Visible AGS)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Active Grille Shutter Market Segment Insights:
Passenger Car: The growth engine
The global automotive active grille shutter market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle) and M&HCV (Medium- and Heavy-Duty Commercial Vehicle). Passenger car is expected to remain the growth engine of the global automotive active grille shutter market during the forecast period of 2019 to 2024. Increasing production of passenger cars coupled with increasing penetration of AGS in passenger car models is likely to elevate the demand for AGS in the passenger car segment.
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Dominance of: Horizontal vane-based active grille shutter
Based on the shutter vanes type, the automotive active grille shutter market is segmented as Horizontal Vanes and Vertical Vanes. Horizontal vane-based active grille shutter is expected to remain most dominant type in the global automotive active grille shutter market during the forecast period. Both horizontal, as well as vertical vane segments, are likely to witness healthy growth rates over the next five years.
A highly/moderately/fragment consolidated Market
The key automotive active grille shutter manufacturers are Rochling Automotive, Magna International Inc., Valeo SA, SRG Global, HBPO, and Shape Corporation. The development of integrated active grille shutters and forming strategic alliances with the automakers are the key strategies adopted by the key players to gain a competitive edge in the market.
Regional Hegemony of Europe
Europe is expected to remain the largest automotive active grille shutter market during the forecast period. Stricter emission norms of European Commission have led to a faster adoption of active grille shutter into European vehicles. Ford Focus & Fusion, BMW 5 Series & 7 Series, Renault Twingo & Talisman, Citroen C4 Picasso, and Audi Q7 are some key European models that have active grille shutters. Asia-Pacific is likely to depict the highest growth during the forecast period with China being the key source of growth.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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