NEW YORK, Nov. 23, 2020 /PRNewswire/ -- A new study by Persistence Market Research (PMR) on the global automotive active grille shutter market predicts a sluggish albeit upward growth trajectory on the back of growing concerns over rising emission levels from passenger, light, and heavy commercial vehicles.
With world fuel consumption continuously rising, demand for efficient automotive solutions increases at the same pace. Light-duty vehicles are often equipped with gasoline-powered spark ignition engine powertrains, and this makes them highly fuel-intensive. This brings the need for regular engine maintenance, which includes regulation of fuel burning, in turn, catalyzing the usage of active grille shutters.
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Key Takeaways from Automotive Active Grille Shutter Market Study
- Europe is likely to remain a dominant region in the global automotive active grille shutter market, owing to exhaustive implementation of emission standards.
- Passenger vehicles to retain lucrativeness, attributed to rising ownership of high-end luxury cars.
- Horizontal vane active grille shutters to capture substantial market share by type.
- The COVID-19 pandemic is expected to decelerate expansion, owing to prevailing sluggishness due to automotive production shortfalls
"Manufacturers are increasingly foraying into emerging economies, as passenger vehicle ownership rises amid surging disposable income, providing credible growth opportunities to potential vendors in the automotive active grille shutter market space," says a PMR analyst.
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Demand to Surge in Wake of Improved Aerodynamic Performance
Demand for automotive active grille shutters is increasing due to automotive ownership rising across the world. In the year 2019, sales of automotive across the world were more than 65 million vehicles. This has led to a simultaneous increase in the usage of automotive assembly parts such as active grille shutters. These shutters offer excellent aerodynamic performance.
Active grill shutters typically offer up reduction in vehicular weight and improvement in aerodynamic performance. Most luxury car companies equip their vehicles with the most advanced active grille shutters, which aid in the regulation of airflow so as to manage connective heat transfer.
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Automotive Active Grille Shutter Market: Competitive Landscape
As per PMR's analysis, the global automotive active grille shutter market is characterized by the presence of players such as Broze Fahrzeugteile GmbH, Johnson Electric Holding Ltd., Mirror Controls International, Sonceboz SA, Rochling Automotive, Magna International Inc., SRG Global, HBPO, Shape Corporation, Valeo Inc., and Others. These players largely focus on new product offerings, strategic collaborations, joint ventures, acquisitions, and technological innovations.
· In September 2020, Magna International announced the acquisition of a majority ownership of Honglizhixin (HLZX), a prominent automotive seat supplier to the Chinese automobile industry, with the intention of deepening seat distribution networks throughout Mainland China.
· In 2017, SRG GlobalTM inaugurated a new innovation center in Taylor, Michigan, USA, for the purpose of augmenting existing research capacities. The facility is specifically designed for prototyping, experimentation, and testing of products.
Explore More Valuable Insights on Automotive Active Grille Shutter Market
Persistence Market Research, in its new report, offers an impartial analysis of the global automotive active grille shutter market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the automotive active grille shutter market based on shutter vane type (horizontal AGS & vertical AGS) and vehicle type (passenger vehicles, light commercial vehicles, and heavy commercial vehicles), across seven regions.
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