Global Active Grille Shutter Market Expected to Reach USD 4,920.1 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Active Grille Shutter Market by Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 2,932.3 Million in 2019 and is expected to grow at a healthy growth rate of 5.2 % by the year 2027. Active Grille Shutter broadly finds its usage in the automotive sector to cultivate fuel economy and mitigation of harmful emissions. This system unlocks the air inlet at the front of the vehicle when the air conditioning is at the highest capacity setting.

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The global Active Grille Shutter market is fragmented based on type, application, and region. On the basis of type, the market has been divided into Polyster, Polypropylene (PP), and Polycarbonate (PC). Based on application, the market has been bifurcated into passenger vehicle and commercial vehicle. Based on region, the global Active Grille Shutter market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

In the year 2020, the Active Grille Shutter market is expected to observe slow growth due to the COVID-19 pandemic. The automotive sector is amongst one of the most affected verticals by the ongoing pandemic situation. The lockdown and social distancing norms are probable to have a substantial effect on the supply chain movement and consumer demand for the product in the auto part and vehicle industry. Moreover, the demand for commercial vehicles is expected to drop with the halt of all non-essential services. Furthermore, depression in purchase decisions during a pandemic may have serious implications on the future growth of the industry.

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As per GMR industry analyst Akshata Ahire, The Global Active Grille Shutter Market is anticipated to witness significant growth during the forecast period 2021-2027 driven by technological developments, stringent emission norms to protect the climate, Initiatives to control CO2 emission, and rise in consumer demand for fuel-efficient Vehicles are expected to drive the market growth during the forecast period.

Key Takeaways from the Study:

• Leading players- Magna and Valeo hold approximately around 35% of the market share of the global Active Grille Shutter market in the year 2019.
• The Europe and North America regions are holding major market share and are expected to be the most attractive regions in terms of demand for active grille shutters. The stringent government norms and increasing initiatives of environment protection agencies to address the rising concerns about CO2 emission are expected to drive demand for the active grille shutter market.
• The demand from passenger cars is high for active grille shutter and currently, the passenger car segment is holding major market share and a similar trend is expected to continue over the forecast period. Considering the market attractiveness index, the passenger car segment is expected to be the most attractive segment over the forecast period.
• Polypropylene (PP) from the type segment is expected to grow at the highest CAGR of 6.1% in terms of revenue generation over the forecast period. The lightweight of these high-performance plastics is coming out to be a crucial part of making fuel-efficient vehicles. As per the estimated calculation, every reduction of 10% in vehicle structure weight results in a 5 to 7% cut in fuel usage.

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Report Scope:

Target Audience:

• Supply-side: grille shutter manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Passenger vehicle companies and commercial vehicle companies
• Regulatory Side: Concerned government authorities, European Commission, ARAI, Automotive authorities, and other regulatory bodies.
• Associations and Industry Bodies: ACMA – the automotive component manufacturers associations of India, SIAM – Society of Indian Automobile Manufacturers, OICA – Organization of Motor Vehicle Manufacturers, ACEA – European Automobile Manufacturer Association, ARAI – Automotive Research Association of India, ACA – Auto Care Association, AIAM- Alliance of Automobile Manufacturers, and AIAG – Automobile Industry Action Group International non-profit organization

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