New York, May 31, 2023 (GLOBE NEWSWIRE) -- The Automotive Active Grille Shutter Market generated revenue of US$ 4.45 billion by 2022. The global market for automotive active grille shutters is expected to reach US$10.01 billion by 2033, growing at a 7.6% CAGR from 2023 to 2033.The market is driven by the increasing demand for fuel-efficient vehicles, rising government regulations on fuel economy, and growing popularity of SUVs and crossovers.
The global automotive industry has been rapidly evolving in recent years, driven by the growing demand for fuel-efficient vehicles and increasing environmental concerns. Automotive manufacturers are actively seeking innovative solutions to enhance the aerodynamics of vehicles and improve fuel efficiency.
One such technology that has gained significant attention is the automotive active grille shutter. This research report aims to provide a comprehensive analysis of the global automotive active grille shutter market, including market trends, growth drivers, challenges, and competitive landscape.
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Key Drivers
- Increasing demand for fuel-efficient vehicles
The increasing demand for fuel-efficient vehicles is one of the major drivers of the automotive active grille shutter market. Active grille shutters help to improve fuel efficiency by reducing drag. This is achieved by closing the shutters when the engine does not need additional cooling, such as when the vehicle is cruising at a constant speed.
- Rising government regulations on fuel economy
Governments around the world are imposing stricter regulations on fuel economy. This is forcing automakers to develop new technologies to improve the fuel efficiency of their vehicles. Active grille shutters are one of the technologies that automakers are using to meet these regulations.
- Growing popularity of SUVs and crossovers
SUVs and crossovers are becoming increasingly popular. These vehicles are typically larger and heavier than cars, which makes them less fuel-efficient. Active grille shutters can help to improve the fuel efficiency of SUVs and crossovers by reducing drag.
Restraints
- High cost of active grille shutters
Active grille shutters are a relatively new technology, and they are still relatively expensive. This high cost can be a barrier to adoption, especially in developing countries.
- Complexity of installation
Active grille shutters can be complex to install. This can also be a barrier to adoption, especially in mass-market vehicles.
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Competitive Landscape
Important Key Players for Automotive Active Grille Shutter are Magna International Inc., Shape Corporation, SRG Global Inc. (Guardian Industries), Techniplas LLC, HBPI GmbH, Rochling Automotive, Valeo SA, Mirror Controls International, Sonceboz SA, Batz Group, Aisin Corporation, Yamaguichi Starlite Co., Ltd., Keboda Chongquing Automotive , Electronics Co., Ltd, Johnson Electric and more
Recent Developments
Here are some recent developments of companies in the automotive active grille shutter market:
- Bosch announced in 2022 that it is developing a new active grille shutter system that is more efficient and easier to install than previous systems. The new system uses electromechanical actuators instead of pneumatic actuators, which makes it more efficient and easier to control.
- Denso announced in 2022 that it is developing a new active grille shutter system that is specifically designed for electric vehicles. The new system uses a unique design that allows it to improve the aerodynamics of the vehicle even when the engine is not running.
- Magna International announced in 2022 that it is expanding its production capacity for active grille shutters. The company is investing US$10 million in a new production line in China. The new line will be able to produce 1 million active grille shutters per year.
- Valeo announced in 2022 that it is developing a new active grille shutter system that is integrated with the vehicle's climate control system. The new system will automatically open and close the shutters based on the vehicle's temperature and airflow requirements.
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Segmentation
The global automotive active grille shutter market is segmented by vehicle type, technology, and region.
- By vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Passenger cars are the largest segment of the market, followed by light commercial vehicles and heavy commercial vehicles.
- By technology, the market is segmented into pneumatic active grille shutters and electromechanical active grille shutters. Pneumatic active grille shutters are the most common type of active grille shutter. Electromechanical active grille shutters are a newer technology that is becoming increasingly popular.
- By region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is the largest market for automotive active grille shutters, followed by Europe and Asia Pacific.
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