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Automotive Active Grille Shutter Market Expected to Witness High Growth by 2033

 By 2022, the Automotive Active Grille Shutter Market will produce US$4,446.7 million in sales, predicts Persistence Market Research. The leading market players will have a significant share of the Automotive Active Grille Shutter market in 2022 as demand for these products increases. Automotive Active Grille Shutters are anticipated to have a global market worth US$ 10,033.3 million by 2033, increasing at a 7.6% CAGR between 2023 and 2033.

Benefits of active grille shutters include improving the aerodynamics and fuel efficiency of a vehicle. These shutters also provide benefits related to engine encapsulation, improved cold start, heat retention, and noise reduction. All these advantages are leading to rise in demand for automotive active grille shutters across geographies.

However, demand for automotive active grille shutters witnessed a dip in 2020 due to the COVID-19 pandemic. The pandemic caused lockdowns, and some of the most affected regions hosted major production plants. Due to this, the automotive industry, as well as demand for active grille shutters, saw a significant drop.

Company Profiles:

  • Röchling Automotive
  • Magna International Inc.
  • Shape Corporation
  • Valeo SA
  • Aisin Corporation
  • Mirror Controls International
  • Sonceboz SA
  • HBPO GmbH
  • SRG Global Inc. (Guardian Industries)
  • Yamaguchi Starlite Co., Ltd.
  • Techniplas, LLC
  • Keboda Chongqing Automotive Electronics Co., Ltd.
  • Batz Group
  • Johnson Electric

Key Takeaways from Market Study

  • Strict regulations by various countries to reduce carbon emissions are compelling automakers to use technologies such as active grille shutters.
  • Significant reduction of aerodynamic drag of vehicles at high cruising speeds and regulation of required air flow within the engine are expected to play a vital role in the growth of the market.
  • Leading players are focusing on research & development to manufacture compact and design-efficient active grille shutters that could be used in space-constraint vehicles.
  • Increasing sales of luxury as well as sports utility vehicles is expected to lend substantial impetus to market growth over the years to come.
  • North America and Europe are expected to have leading market shares owing to the presence of large industrial bases in developed countries in these regions.
  • The market in East Asia is expected to witness the highest growth rate on the back of high consumer spending power as well as rise of luxury vehicle sales in countries such as China, Japan, and South Korea.
  • Demand for active grille shutters to remain high for use in passenger cars.
  • Non-visible active grille shutters to hold high market share of around 80%.
  • OEMs to account for around 90% sales of active grille shutters.

“Increasing demand for cars with regulated engine temperatures, lesser aerodynamic drag, higher fuel efficiency, and lower emissions are key factors driving sales of automotive active grille shutters,” says a Persistence Market Research analyst.

For More Info @ https://www.persistencemarketresearch.com/market-research/automotive-active-grille-shutter-market.asp

Competitive Landscape

The market is moderately consolidated in nature, with key players accounting for nearly half of the overall market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their high market shares. Some of the key players in this industry are Magna International Inc, Valeo SA, Rochling Automotive, HBPO GmbH, Shape Corporation, and Aisin Corporation.

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