Active Grille Shutter Market to Expand at a CAGR of more than 8% by 2026
Posted: May 25, 2019
According to the report, the global automotive active grille shutter market is anticipated to surpass US$ 4 Bn by 2026, expanding at a CAGR of more than 8% during the forecast period.
Rise in demand for vehicles with higher fuel-efficiency is expected to drive the automotive active grill shutter market. Automakers are emphasizing on achieving an aerodynamic vehicle body to reduce air drag. Increasing stringency of vehicle emissions is prompting automakers to adopt the active grill shutter to reduce fuel consumption and emission of vehicles. The active grille shutter helps improve aerodynamic co-efficient by 25 aerodynamic points or by 25%. Adoption of active grille shutter helps achieve CO2 saving up to 3 grams per kilometer.
In terms of vane type, the horizontal segment accounted for a prominent share of the market in 2017. The horizontal active grille shutter is adopted in high number of vehicles, as it can be easily mounted behind the grille. Moreover, it is less complicated and cost-effective, as compared to vertical active grille shutter. The horizontal segment is expected to dominate the global active grille shutter market during the forecast period. However, the vertical segment is anticipated to expand at a notable growth rate during the period. Rise in trend of vertical grille and improvement in active grille shutter design have led to feasibility of integrating the shutters directly into the radiator grille. Vertical vane type active grille shutters are compact and do not compromise on esthetics. Vertical vane type active grille shutters are expected to be adopted widely in premium and luxury vehicles. Rise in sales of luxury and premium vehicles is thus expected to boost the automotive active grille shutter market.
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In terms of shutter type, the non-visible segment is anticipated to expand at a CAGR of 10.46%, in terms of volume, during the forecast period. Non-visible shutters improve aerodynamics of the vehicle without compromising on esthetics and hence, are highly preferred.
In terms of sales channel, the OEM segment is anticipated to dominate the automotive active grille shutter market due to the demand from automakers to obtain better greenhouse gas rating and improve fuel economy. The failure of actuator and accidental damage of active grille shutter are expected to contribute to the demand for automotive active grille shutter.
Key players operating in the global automotive active grille shutter market include Rochling Group, Valeo, Magna International Inc., SRG Global, Batz, S.Coop, HBPO GmbH, Techniplas, LLC., Brose Fahrzeugteile GmbH & Co. KG, Coburg, Tong Yang Group, Keboda, STARLITE Co., Ltd., and Aisin Seiki Co., Ltd.Request to View Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=52143
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