The global active grille shutter market has seen significant growth and is projected to continue expanding during the forecast period. In 2022, the market size reached USD 1.05 billion, but it is expected to reach a substantial value of USD 1.68 billion by 2032. This indicates a promising compound annual growth rate (CAGR) of 5.1% over the forecast period.
Several key factors are contributing to the robust growth of the active grille shutter market. One of the primary drivers is the implementation of government laws and regulations focused on reducing carbon dioxide (CO2) emissions from vehicles. As the world becomes increasingly aware of environmental concerns and climate change, governments are pushing for stricter emission norms, and automotive manufacturers are turning to innovative solutions like active grille shutters to enhance fuel efficiency and reduce greenhouse gas emissions.
Moreover, there is a growing demand for fuel-efficient cars among consumers. With rising fuel prices and an increasing emphasis on sustainability, car buyers are seeking vehicles that can offer better mileage and contribute to reducing their overall carbon footprint. Active grille shutters aid in optimizing aerodynamics and reducing drag, leading to improved fuel economy.
Another significant factor driving the market’s growth is the automotive industry’s need for lightweight components. As car manufacturers strive to design vehicles with better fuel efficiency, they are increasingly adopting lightweight materials for various parts. Active grille shutters, being lightweight and energy-efficient, align perfectly with this industry trend and present an attractive option for automakers.
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Electric vehicles often rely on batteries for power, and these batteries perform optimally within a specific temperature range. If the battery gets too hot or too cold, its performance and efficiency can be negatively affected, leading to reduced range and battery life.
Active grille shutters are designed to control the airflow around the vehicle. By opening or closing the shutters based on the temperature needs of the battery and other components, they can regulate the amount of air entering the engine compartment and manage cooling demands effectively. This helps maintain the battery at an optimal temperature, thus enhancing its overall performance and range.
In summary, the increasing adoption of electric vehicles and the need for better temperature management in EVs are driving the demand for active grille shutters. As the electric vehicle market continues to grow, the importance of these technologies will likely increase, leading to further developments and innovations in the field of active grille shutters and other temperature management solutions for electric automobiles.
By Vehicle Type Outlook
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel Outlook
- Original Equipment Manufacturer (OEM)
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Regional Markets Highlighted in the Global Active Grille Shutter Market Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Top Companies Profiled in the Report:
- Magna International Inc.
- Valeo SA
- Rochling Automotive SE & Co. KG
- Brose Fahrzeugteile GmbH & Co. KG
- BorgWarner Inc.
- AK Steel Corporation
- SHB Group Co., Ltd.
- Rehau Group
- EcoPlastics Ltd.
- Sabica Inc.
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