Global Active Grille Shutter Market Size To Worth USD 4.09 Billion By 2033 | CAGR of 8.32%
Category: Automotive & TransportationGlobal Active Grille Shutter Market Size To Worth USD 4.09 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Active Grille Shutter Market Size is Expected to Grow from USD 1.84 Billion in 2023 to USD 4.09 Billion by 2033, Growing at a CAGR of 8.32% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 130 Market data tables and figures & charts from the report on the "Global Active Grille Shutter Market Size, Share, and COVID-19 Impact Analysis, By Vane Type (Horizontal Vane Type, Vertical Vane Type), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/active-grille-shutter-market
Active grille shutter (AGS) is a technology used in modern vehicles to improve aerodynamics and fuel efficiency. It consists of a set of adjustable shutters or louvers mounted in front of the vehicle's grille. These shutters can automatically open or close based on the vehicle's speed, engine temperature, and other variables, such as cooling or airflow requirements. Several factors are driving the active grille shutter market, including higher emission and fuel economy requirements, increased demand for electric cars (EVs), and technological breakthroughs in automotive. AGS systems help reduce drag and improve aerodynamics, which supports compliance with environmental regulations and enhances vehicle performance. However, the active grille shutter market's growth is hindered by various issues, including the high initial cost of implementation, which might deter adoption, especially in cost-sensitive vehicle classes.
The horizontal vane type segment is predicted to hold the largest market share through the forecast period.
Based on the vane type, the active grille shutter market is classified into horizontal vane type and vertical vane type. Among these, the horizontal vane type segment is predicted to hold the largest market share through the forecast period. The horizontal vane type is favored because of its capacity to give greater aerodynamic performance and enhanced energy efficiency, which are important considerations for the automotive sector, particularly with the growing demand for fuel efficiency and lower carbon emissions.
The passenger vehicle segment is anticipated to hold the highest market share during the projected timeframe.
Based on the vehicle type, the active grille shutter market is divided into passenger vehicle and commercial vehicle. Among these, the passenger vehicle segment is anticipated to hold the highest market share during the projected timeframe. The segment's dominance can be attributed to the increased demand for fuel efficiency, emissions management, and aerodynamic performance, particularly in reaction to stringent laws and consumer preferences for environmentally friendly vehicles.
North America is estimated to hold the largest share of the active grille shutter market over the forecast period.
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North America is estimated to hold the largest share of the active grille shutter market over the forecast period. The region's strong automotive sector, regulatory requirements for higher fuel efficiency, decreased emissions, and growing demand for electric cars (EVs) all contribute to the market's growth.
Asia Pacific is predicted to have the highest CAGR growth in the active grille shutter market over the forecast period. Asia Pacific's strong growth is attributed to the region's developing automotive industry, stiffer government rules on fuel efficiency and pollution, and rising demand for electric vehicles.
Major key players in the active grille shutter market include Magna International Inc., Valeo, Rochling Group, Brose Fahrzeugteile GmbH & Co. KG, Techniplas, SRG Global, Tong Yang Group, S.Coop, Aisin Seiki Co., Ltd, BATZ, and Others.
Recent Developments
- In December 2021, Continental, an established company and provider of OE-engineered aftermarket replacement parts, launched a new line of Active Grill Shutters for popular Ford and Chrysler vehicles. Continental Active Grill Shutters, which were previously accessible only through dealers, are now available in the aftermarket for direct replacement on popular Chrysler and Ford models.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the active grille shutter market based on the below-mentioned segments:
Global Active Grille Shutter Market, By Vane Type
- Horizontal Vane Type
- Vertical Vane Type
Global Active Grille Shutter Market, By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Global Active Grille Shutter Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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