Product Code: TIPRE00010254
The active grille shutter market is projected to reach US$ 3,094.60 million by 2028 from US$ 2,161.67 million in 2021. It is expected to grow at a CAGR of 5.3% during 2022-2028.
Automobile manufacturers are rapidly embracing different technologies to attract new customers and gain a competitive advantage. Several macroeconomic factors have created a severely hostile environment for automotive manufacturers since 2018. Moreover, the COVID-19 pandemic caused severe disruptions, subjecting many automobile manufacturers to huge economic losses. Political factors in Europe, the Middle East, and South America negatively affected component supply, which further delayed automobile production. Severe economic downturns in several countries resulted in decreased consumer spending on discretionary or optional goods. Despite such factors, automobile sales started increasing in 2021, primarily propelled by increasing sales of passenger vehicles. High-end passenger vehicles, including electric vehicles, dominated the overall demand for automobiles. Automobile manufacturers integrated active grille shutters to such vehicles for attracting customers. These shutters can significantly improve aerodynamic performance of a vehicle, thus reducing fuel consumption, along with aiding in optimal temperature maintenance of internal combustion engines (ICEs) or batteries (in terms of EVs). Additionally, the automotive industry is shifting toward lightweight components in vehicles, as they offer higher strength-to-weight ratios, corrosion resistivity, and workability features. Such components are meant to replace heavy metals in various vehicle parts. The industry is moving toward the growing demand for such lightweight components, including active grille shutters. Thus, the demand for lightweight active grille shutters has significantly increased among automakers over the decade, as they help save assembly time and reduce overall vehicle mass. Lightweight active grille shutter modules can help achieve up to 25% mass savings over steel versions, leading to better fuel efficiency and lower carbon emissions. Recently, Magna, a leading automotive manufacturer, launched its full-system assembly of composite liftgates and active aerodynamic grille shutters in China.
Impact of COVID-19 Pandemic on Active Grille Shutter Market Growth
Limitations imposed by governments to control the spread of COVID-19 during the initial phase of the global health crisis affected the daily operations of most automobile manufacturers. Stringent restrictions and supply chain disruptions, which resulted in the shortage of semiconductor chips, put most automobile companies in jeopardy. Similar situations were witnessed across most countries across all regions. Automobile production was significantly hampered by shortage of semiconductor chips. Which in turn resulted in decreased demand for active grille shutters. Low traffic volumes on road resulted in decreased sales of aftermarket active grille shutters as well. Europe, being one of the largest automobile manufacturers, witnessed a significant drop in vehicle production. Countries such as Germany, France, Italy, and the UK recorded low automobile sales. However, in 2021, after the temporary restrictions were lifted, the automobile industry swung around and started recording good sales volumes. Electric vehicle sales recorded high growth rates, while internal combustion engine based vehicles recorded moderate growth rates. Several active grille shutter market players announced new product lines for aftermarket fittings. Moreover, several enterprises shifted their focus to opening new factories in different regions to shield themselves from any possible supply chain disruptions in the coming years. Owing to such trends, the outlook post COVID for the active grille shutter market thus seems favorable for most active grille shutter market players.
China accounts for the largest share of the active grille shutter market in Asia Pacific, followed by Japan and South Korea. The active grille shutter market in China is growing at one of the fastest pace globally. Automobile manufacturers in the country have been among the prime adopters of active grille shutters in APAC as they seek to scale up their export volumes. With growing demand for fuel efficient vehicles globally, such strategies are expected to be adopted by most European automobile manufacturers as well, in the near future. Similar strategies are also being adopted by automobile manufacturers in India, Japan, and South Korea, which is contributing to the proliferation of the active grille shutter market players operating in the region.
The active grille shutter market revenue was predominantly generated through sales of passenger vehicles. However, this scenario is changing fast due to the growing awareness of the advantages of these shutters in, both, light and heavy commercial vehicles. These vehicles tend to consume much larger quantities of fuel. With strict regulations on carbon emission in effect in several countries, manufacturers of light and heavy commercial vehicles are adopting active grille shutters to improve aerodynamics and decrease the fuel consumption of their offerings. Such developments are expected to boost the active grille shutter market growth.
HBPO GmbH; Magna International Inc.; Rochling 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 companies in the active grille shutter market.
The overall active grille shutter market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the active grille shutter market size with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights. Participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the active grille shutter market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global active grille shutters market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global active grille shutters market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Active Grille Shutter Market - By Propulsion Type
- 1.3.2 Active Grille Shutter Market - By Vane Type
- 1.3.3 Active Grille Shutter Market - By Vehicle Type
- 1.3.4 Active Grille Shutter Market- By Region
2. Key Takeaways
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Active Grille Shutter Market Landscape
- 4.1 Market Overview
- 4.2 PEST Analysis
- 4.2.1 North America
- 4.2.2 Europe
- 4.2.3 APAC
- 4.2.4 MEA
- 4.2.5 SAM
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinion
- 4.5 Premium Insights
- 4.5.1 Tier 1 Customer List
5. Active Grille Shutter Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Surge in Demand for Passenger Vehicles
- 5.1.2 Increasing Demand for Lightweight AGS in Energy-efficient Vehicles
- 5.2 Market Restraints
- 5.2.1 High Cost of AGS and Lack of Awareness Among Customers
- 5.3 Market Opportunities
- 5.3.1 Growing Demand for AGS for Super Sports Car or Premium Cars
- 5.4 Future Trends
- 5.4.1 Increasing Adoption of EV and Hybrid EV
- 5.5 Impact Analysis of Drivers and Restraints
6. Active Grille Shutter Market - Global Analysis
- 6.1 Global Active Grille Shutter Market Overview
- 6.2 Active Grille Shutter Market - Revenue and Forecast to 2028 (US$ Million)
- 6.3 Market Positioning - Five Key Players
7. Active Grille Shutter Market Analysis - By Propulsion Type
- 7.1 Overview
- 7.2 Active Grille Shutter Market, By Propulsion Type (2021 and 2028)
- 7.3 ICE
- 7.3.1 Overview
- 7.3.2 ICE: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
- 7.4 Electric
- 7.4.1 Overview
- 7.4.2 Electric: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
8. Active Grille Shutter Market Analysis - By Vane Type
- 8.1 Overview
- 8.2 Active Grille Shutter Market, By Vane Type (2021 and 2028)
- 8.3 Horizontal
- 8.3.1 Overview
- 8.3.2 Horizontal: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
- 8.4 Vertical
- 8.4.1 Overview
- 8.4.2 Vertical: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
9. Active Grille Shutter Market Analysis - By Vehicle Type
- 9.1 Overview
- 9.2 Active Grille Shutter Market Breakdown, By Vehicle Type, 2021 & 2028
- 9.3 Passenger Vehicles
- 9.3.1 Overview
- 9.3.2 Passenger Vehicles Market Revenue and Forecast to 2028 (US$ Million)
- 9.4 LCV
- 9.4.1 Overview
- 9.4.2 LCV Market Revenue and Forecast to 2028 (US$ Million)
- 9.5 HCV
- 9.5.1 Overview
- 9.5.2 HCV Market Revenue and Forecast to 2028 (US$ Million)
10. Active Grille Shutter Market - Geographic Analysis
- 10.1 Overview
- 10.2 North America: Active Grille Shutter Market
- 10.2.1 Overview
- 10.2.2 North America Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.2.3 North America Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.2.4 North America Active Grille Shutter Market Breakdown, By Vane Type
- 10.2.5 North America Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.2.6 North America Active Grille Shutter Market Breakdown, by Country
- 10.2.6.1 US Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.2.6.1.1 US Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.2.6.1.2 US Active Grille Shutter Market Breakdown, By Vane Type
- 10.2.6.1.3 US Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.2.6.2 Canada Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.2.6.2.1 Canada Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.2.6.2.2 Canada Active Grille Shutter Market Breakdown, By Vane Type
- 10.2.6.2.3 Canada Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.2.6.3 Mexico Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.2.6.3.1 Mexico Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.2.6.3.2 Mexico Active Grille Shutter Market Breakdown, By Vane Type
- 10.2.6.3.3 Mexico Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.3 Europe: Active Grille Shutter Market
- 10.3.1 Overview
- 10.3.2 Europe Active Grille Shutter Market Revenue and Forecast to 2028 (US$ Million)
- 10.3.3 Europe Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.3.4 Europe Active Grille Shutter Market Breakdown, By Vane Type
- 10.3.5 Europe Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.3.6 Europe Active Grille Shutter Market Breakdown, by Country
- 10.3.6.1 Germany Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.3.6.1.1 Germany Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.3.6.1.2 Germany Active Grille Shutter Market Breakdown, By Vane Type
- 10.3.6.1.3 Germany Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.3.6.2 France Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.3.6.2.1 France Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.3.6.2.2 France Active Grille Shutter Market Breakdown, By Vane Type
- 10.3.6.2.3 France Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.3.6.3 Italy Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.3.6.3.1 Italy Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.3.6.3.2 Italy Active Grille Shutter Market Breakdown, By Vane Type
- 10.3.6.3.3 Italy Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.3.6.4 UK Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.3.6.4.1 UK Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.3.6.4.2 UK Active Grille Shutter Market Breakdown, By Vane Type
- 10.3.6.4.3 UK Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.3.6.5 Russia Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.3.6.5.1 Russia Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.3.6.5.2 Russia Active Grille Shutter Market Breakdown, By Vane Type
- 10.3.6.5.3 Russia Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.3.6.6 Rest of Europe Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.3.6.6.1 Rest of Europe Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.3.6.6.2 Rest of Europe Active Grille Shutter Market Breakdown, By Vane Type
- 10.3.6.6.3 Rest of Europe Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.4 APAC: Active Grille Shutter Market
- 10.4.1 Overview
- 10.4.2 APAC Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.4.3 APAC Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.4.4 APAC Active Grille Shutter Market Breakdown, By Vane Type
- 10.4.5 APAC Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.4.6 APAC Active Grille Shutter Market Breakdown, by Country
- 10.4.6.1 China Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.4.6.1.1 China Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.4.6.1.2 China Active Grille Shutter Market Breakdown, By Vane Type
- 10.4.6.1.3 China Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.4.6.2 India Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.4.6.2.1 India Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.4.6.2.2 India Active Grille Shutter Market Breakdown, By Vane Type
- 10.4.6.2.3 India Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.4.6.3 Japan Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.4.6.3.1 Japan Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.4.6.3.2 Japan Active Grille Shutter Market Breakdown, By Vane Type
- 10.4.6.3.3 Japan Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.4.6.4 South Korea Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.4.6.4.1 South Korea Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.4.6.4.2 South Korea Active Grille Shutter Market Breakdown, By Vane Type
- 10.4.6.4.3 South Korea Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.4.6.5 Rest of APAC Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.4.6.5.1 Rest of APAC Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.4.6.5.2 Rest of APAC Active Grille Shutter Market Breakdown, By Vane Type
- 10.4.6.5.3 Rest of APAC Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.5 MEA: Active Grille Shutter Market
- 10.5.1 Overview
- 10.5.2 MEA Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.5.3 MEA Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.5.4 MEA Active Grille Shutter Market Breakdown, By Vane Type
- 10.5.5 MEA Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.5.6 MEA Active Grille Shutter Market Breakdown, By Country
- 10.5.6.1 South Africa Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.5.6.1.1 South Africa Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.5.6.1.2 South Africa Active Grille Shutter Market Breakdown, By Vane Type
- 10.5.6.1.3 South Africa Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.5.6.2 Saudi Arabia Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.5.6.2.1 Saudi Arabia Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.5.6.2.2 Saudi Arabia Active Grille Shutter Market Breakdown, By Vane Type
- 10.5.6.2.3 Saudi Arabia Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.5.6.3 UAE Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.5.6.3.1 UAE Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.5.6.3.2 UAE Active Grille Shutter Market Breakdown, By Vane Type
- 10.5.6.3.3 UAE Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.5.6.4 Rest of MEA Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.5.6.4.1 Rest of MEA Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.5.6.4.2 Rest of MEA Active Grille Shutter Market Breakdown, By Vane Type
- 10.5.6.4.3 Rest of MEA Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.6 SAM: Active Grille Shutter Market
- 10.6.1 Overview
- 10.6.2 SAM Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- 10.6.3 SAM Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.6.4 SAM Active Grille Shutter Market Breakdown, By Vane Type
- 10.6.5 SAM Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.6.6 SAM Active Grille Shutter Market Breakdown, by Country
- 10.6.6.1 Brazil Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.6.6.1.1 Brazil Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.6.6.1.2 Brazil Active Grille Shutter Market Breakdown, By Vane Type
- 10.6.6.1.3 Brazil Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.6.6.2 Argentina Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.6.6.2.1 Argentina Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.6.6.2.2 Argentina Active Grille Shutter Market Breakdown, By Vane Type
- 10.6.6.2.3 Argentina Active Grille Shutter Market Breakdown, By Vehicle Type
- 10.6.6.3 Rest of SAM Active Grille Shutter Market, Revenue and Forecast to 2028
- 10.6.6.3.1 Rest of SAM Active Grille Shutter Market Breakdown, By Propulsion Type
- 10.6.6.3.2 Rest of SAM Active Grille Shutter Market Breakdown, By Vane Type
- 10.6.6.3.3 Rest of SAM Active Grille Shutter Market Breakdown, By Vehicle Type
11. Impact of COVID-19 Pandemic on Global Active Grille Shutter Market
- 11.1 Overview
- 11.2 North America: Impact Assessment of COVID-19 Pandemic
- 11.3 Europe: Impact Assessment of COVID-19 Pandemic
- 11.4 APAC: Impact Assessment of COVID-19 Pandemic
- 11.5 MEA: Impact Assessment of COVID-19 Pandemic
- 11.6 SAM Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 Merger and Acquisition
- 12.4 New Product Development
13. Company Profiles
- 13.1 Valeo SA
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 HBPO GmbH
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Magna International Inc.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 Rochling SE & Co. KG
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 SRG Global Inc.
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 SHAPE CORPORATION
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 STANDARD MOTOR PRODUCTS INC.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 TECHNIPLAS US LLC
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 WIRTHWEIN AG
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 STARLITE CO., LTD.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
14. Appendix
- 14.1 About The Insight Partners
- 14.2 Word Index