Rockville, MD, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The automotive active grille shutter market is expected to grow at a 7.7% CAGR between 2024 and 2034, according to Fact.MR. By 2034, the global market for these products is expected to reach US$ 10,876.9 million. According to Fact MR, a provider of market research and competitive intelligence, the global automotive active grille shutter market is rapidly growing and is expected to continue its growth trajectory in the coming years.
The rise of autonomous vehicles and increased connectivity can create opportunities for active grille shutters to work in conjunction with other vehicle systems to optimize aerodynamics based on real-time data, improving overall vehicle efficiency. Consumer demand for customizable and personalized vehicles may lead to the incorporation of active grille shutters as part of unique design features, catering to individual preferences while maintaining aerodynamic efficiency.
The increasing adoption of electric and hybrid vehicles provides opportunities for active grille shutters to contribute to the overall energy efficiency of these vehicles, impacting both electric range and fuel efficiency in hybrid models. Integration with vehicle-to-everything communication systems can enhance the capabilities of active grille shutters by allowing them to respond to real-time traffic and road conditions, optimizing aerodynamics for improved efficiency and safety.
There may be opportunities in the aftermarket for retrofitting existing vehicles with active grille shutter systems, especially in regions where regulations or consumer demand drive interest in improving fuel efficiency. Integrating active grille shutter status information into augmented reality or heads-up display systems can enhance driver awareness and interaction with the technology, providing a seamless and informative user experience.
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Key Takeaways from the Market Study
- In 2024, the global automotive active grille shutter market is estimated to have a global market size of US$ 5,180.2 million.
- The non visible automotive active grille shutter is expected to dominate the market, with a market share of 3% in 2024.
- The passenger cars category is expected to hold a market share of 9% in 2034.
- China is predicted to acquire 4% of the global market share in 2024.
- East Asia is expected to account for a CAGR of 7% by 2034.
“Ongoing research and development investments by automotive manufacturers and suppliers can lead to continuous innovations in active grille shutter technology, making them more efficient, cost-effective, and applicable to a broader range of vehicles,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Automotive Active Grille Shutter Market:
Key players in the automotive active grille shutter industry 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, and Aisin Corporation.
Competitive Landscape
The automotive active grille shutter market is shaped by pricing, distribution channels, customer service, and regulatory compliance to gain a competitive edge. Adapting to market dynamics and staying abreast of technological advancements are essential for sustained success in this dynamic industry.
Company Portfolio
- SRG Global Inc. SRG Global, a subsidiary of Guardian Industries, is a leading provider of high-value coatings on plastics for the automotive, commercial truck, and consumer goods industries. The company specializes in creating innovative, decorative, and functional solutions.
- Techniplas LLC: Techniplas is a global design and manufacturing provider of automotive products and services. The company focuses on creating solutions for future mobility challenges through its expertise in additive manufacturing, connected vehicles, and advanced technologies.
Automotive Active Grille Shutter Industry News:
- Magna International Inc.: Based in the United States, Magna International is a multinational automotive technology firm that develops and produces automotive modules, systems, and parts. It serves a number of automobile market niches and offers automakers all over the world cutting-edge solutions. It's possible that Magna International sells active grille shutter systems that are intended to boost fuel economy, increase aerodynamics, and improve overall vehicle performance.
- Shape Corporation: For the automotive sector, Shape Corporation provides lightweight materials, assemblies, and structural components on a global full-service basis. The business specializes on developing cutting-edge solutions to satisfy the changing demands of the automobile industry. Shape Corporation most likely provides cutting-edge active grille shutter solutions, improving the aerodynamics and efficiency of vehicles.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global automotive active grille shutter market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024 to 2034.
The study reveals essential insights based on automotive active grille shutter market analysis by shutter (visible automotive active grill shutters, non-visible automotive active grill shutters), by vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).
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