The Market of Automotive Radiator Grille to grow beyond US$ 3,087.2 million by 2023
February 12, 2020
Automotive Radiator Grille Market Overview:
The global automotive radiator grille market is projected to reach US$ 3,087.2 million in 2023 and offers healthy growth opportunities in the entire ecosystem of the market. Increasing global automobile production, rising demand for fuel-efficient vehicles, higher preference towards excellent aesthetics, increasing demand for lightweight parts, and rising automobile fleet are the major factors that the proliferating the growth of radiator grilles in the automotive industry.
Report Overview:
This report, from Stratview Research, studies the global automotive radiator grille market over the trend period of 2012 to 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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Automotive Radiator Grille Market Segment Insights:
Passenger Car: The growth engine
The global automotive radiator grille market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle) and M&HCV (Medium- & Heavy-Duty Commercial Vehicle). Passenger car is expected to remain the growth engine of the global automotive radiator grille market during the forecast period of 2018 to 2023. Increasing production of passenger cars, especially SUVs and compact cars, coupled with a higher demand for excellent aesthetics is the major driver of the segment.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/298/Automotive-Radiator-Grille-Market.html
Dominance of: Horizontal Grille & Plastic Radiator Grille
Based on the design type, the global automotive radiator grille market is segmented as Horizontal Grille, Vertical Grille, and Mesh Grille. Horizontal grille is expected to remain the most dominant design type in the global automotive radiator grille market during the forecast period of 2018 to 2023. Horizontal grille is preferred in most of the vehicle types including passenger cars and light commercial vehicles, driven by its good strength, easy maintenance, and high aesthetic value.
Based on the material type, the automotive radiator grille market is segmented as metal and plastic. Plastic radiator grille is expected to remain the largest segment of the global automotive radiator grille market during the forecast period. It is also expected to witness higher growth during the same period. Stringent government regulations regarding fuel efficiency enhancements and carbon emission reductions are compelling automakers to incorporate lightweight materials into various applications of the vehicle to make the overall vehicle lightweight. Radiator grille is also not untouched with such market dynamic and has been experiencing a shift from metal to plastic materials. Plastic grille not only reduces the system weight but also offers higher performance than metal parts.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises raw material suppliers, automotive radiator grille manufacturers, distributors, and automotive OEMs. The key automotive radiator grille manufacturers are Magna International, Plastic Omnium, Toyoda Gosei, SRG Global, Lacks Enterprises, Sakae Riken Kogyo Co., Ltd., Samshin Chemicals Co., Ltd., Faltec Co., Ltd. Development of active grille, regional expansion, and execution of mergers & acquisitions are the key strategies adopted by major key players to gain a competitive edge in the market.
Regional Hegemony of Asia-Pacific
Asia-Pacific is expected to remain the largest automotive radiator grille market during the forecast period. The region is also expected to experience the highest growth during the same period. The higher growth of automotive radiator grille in Asia-Pacific is mainly attributable to the increasing vehicle production in the region. China and India are likely to act as the growth engines of the region’s market during the forecast period.
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