New York, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Active Grille Shutter Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Vehicle Type (Passenger Car, LCV, Heavy Commercial Vehicle); Shutter Vanes Type (Horizontal AGS, Vertical AGS); Shutter Type (Visible AGS, Non-Visible AGS) and Geography” The global active grille shutter market growth is driven by introduction of regulations to reduce greenhouse gas (GHG) emissions from passenger cars and trucks and the reduction of aerodynamic drag of vehicles.
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| Market Size Value in | US$ 2.16 Billion in 2021 |
| Market Size Value by | US$ 3.09 Billion by 2028 |
| Growth rate | CAGR of 5.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 166 |
| No. Tables | 85 |
| No. of Charts & Figures | 79 |
| Historical data available | Yes |
| Segments covered | Propulsion Type, Vane Type, and Vehicle Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
The active grille shutter market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). Being home to several automobile manufacturers, which are focused on increasing fuel efficiency through advanced technologies while reducing aerodynamic drag, Europe is pioneering active grille shutter adoption. Most European car makers are incorporating these shutters in their high-end passenger vehicles. Additionally, regulations in the region have been strictly monitoring internal combustion engine (ICE) vehicles for the reduction of CO2 emissions. These factors collectively boost the active grille shutter market growth in Europe.
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Active Grille Shutter Market: Competitive Landscape and Key Developments
HBPO GmbH; Magna International Inc.; Röchling SE & Co. KG; Shape Corporation; SRG Global; Standard Motor Products Inc.; STARLITE Co., Ltd.; Techniplas US LLC; Valeo SA; and Wirthwein AG are among the key active grille shutter market players profiled during this study. In addition, several other important market players have been studied and analyzed during this market study to get a holistic view of the market and its ecosystem.
- In 2022, Wirthwein AG announced the establishment of Xi'an Wirthwein Plastic Technology Co., Ltd. in the major Chinese city of Xi'an. It is the fourth factory of the company in the country, while the other three are located in Kunshan and Shenyang.
- In 2022, Techniplas US LLC, acquired Nanogate Group (Nanogate), a publicly traded company that is a prominent manufacturer of highly engineered plastics systems and components.
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Active Grille Shutter Market Analysis: Vehicle Type Overview
Based on vehicle type, the active grille shutter market is segmented into passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). The demand for passenger vehicles is rising with a growing population and disposable incomes, which is encouraging companies to develop new passenger vehicles. Active grille shutters have been in use in the vehicle models of Daimler, General Motors, Hyundai, Toyota, Tesla, BMW, and Ford for a long time. New models of luxury cars, sedans, SUVs, etc., also include these shutters. According to the Society of Indian Automobile Manufacturers (SIAM), ~251,052 units of passenger vehicles were sold in May 2022 compared to 88,045 units in May 2021. The global sales of lightweight vehicles are expected to increase by ~2.7% by 2025. The active grille shutters market is expected to register a good growth rate during the forecast period with the growing demand for passenger and lightweight vehiclesThe global sales of lightweight vehicles are expected to increase by ~2.7% by 2025. Moreover, the demand for light and heavy commercial vehicles is increasing with the ongoing trend of industrialization, which provides lucrative opportunities to the active grille shutter market players. These vehicles have quite low fuel mileage, and thus, propelling the fuel efficiency of LCVs and HCVs has been gaining importance to lower their impact on the environment. Active grille shutters provide a simple, yet effective solution for decreasing fuel consumption to some extent.
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