Automotive Active Grille Shutter (AGS) Market Size to reach US$ 1,206.0 million in 2024

Automotive Active Grille Shutter Market: Trends, Analysis & Forecast upto 2024. Discover associated growth opportunities, market dynamics, success factors and more.

(industrietreff) - The automotive active grille shutter market is likely to grow at an impressive double-digit rate over the next five years to reach US$ 1,206.0 million in 2024. The auto industry has efficaciously been ushering in a new era of aerodynamic vehicles with a meticulous investment into advanced components that can address the changing business requirements in the most effective manner. All the major automakers have vigorously been incorporating active components in their most-renowned vehicle models with the purpose to improve the overall fuel efficiency of vehicles in order to address stringent government regulations, such as CAFE Standards and EU Commission on Carbon Emissions Reduction Targets.
Active grille shutter is a key component of active aerodynamic family and has been catching the automakers’ attention by offering a vast list of advantages. On an average, AGS offers signification weight reduction up to 20% and improvement in aerodynamic performance up to 30% as compared to non-AGS vehicle. Today, AGS has successfully found its presence in both premium vehicle models as well as mass-produced vehicle models of almost all major automakers including Ford, GM, Toyota, BMW, Lincoln, Honda, Mazda, Mercedes-Benz, and Rolls Royce.
The biggest factor driving the market for AGS is an incessant increase in its penetration in the automotive industry year on year as all the major automakers are incorporating this technology in their major vehicle models. One side, major automakers are working closely with the AGS suppliers in order to make their vehicle more fuel efficient, whereas another side, AGS suppliers are working hard to quickly meet automakers’ rising demand for a well-engineered, high-quality AGS system that helps to address fuel economy standards.
AGS has a disruptive journey so far in the automotive industry and has evolved a lot with changing market needs and designs. However, to maintain the growth momentum, AGS must to adapt itself as per the new business environments including a greater incorporation of ADAS (Advanced Driver-Assistance Systems) electronics, such as auto-braking and auto cruise control; the development of new diesel and electric engines; and introduction of more stringent regulations regarding pedestrian protection and carbon emission reductions.

The development of innovative AGS solutions is an indispensable focus area of the AGS suppliers based on the requirements of auto OEMs. The market for AGS is marked by major global automotive tier players including Rochling Automotive, Magna International Inc., and Valeo SA. Also, it is expected that the excellent growth of active grill shutters may entice other players to enter the market to tap the growth potential.


Automotive Active Grille Shutter Market Insights:

By Vehicle Type:
The global automotive active grille shutter market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle) and M&HCV (Medium- and Heavy-Duty Commercial Vehicle). Passenger car is expected to remain the growth engine of the global automotive active grille shutter market during the forecast period of 2019 to 2024. Increasing production of passenger cars coupled with increasing penetration of AGS in passenger car models is likely to elevate the demand for AGS in the passenger car segment.
By Shutter Vanes Type:
Based on the shutter vanes type, the automotive active grille shutter market is segmented as Horizontal Vanes and Vertical Vanes. Horizontal vane-based active grille shutter is expected to remain most dominant type in the global automotive active grille shutter market during the forecast period. Both horizontal, as well as vertical vane segments, are likely to witness healthy growth rates over the next five years.
By Region:
Based on the regions, Europe is expected to remain the largest automotive active grille shutter market during the forecast period. Stricter emission norms of European Commission have led to a faster adoption of active grille shutter into European vehicles. Ford Focus & Fusion, BMW 5 Series & 7 Series, Renault Twingo & Talisman, Citroen C4 Picasso, and Audi Q7 are some key European models that have active grille shutters. Asia-Pacific is likely to depict the highest growth during the forecast period with China being the key source of growth.


Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
•Market structure: Overview, industry life cycle analysis, supply chain analysis
•Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
•Market trend and forecast analysis
•Market segment trend and forecast
•Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
•Attractive market segments and associated growth opportunities
•Emerging trends
•Strategic growth opportunities for the existing and new players
•Key success factors

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Bereitgestellt von Benutzer: Stratview
Datum: 06.05.2020 - 06:54 Uhr
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News-ID 1814167
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