Benefits of active grille shutters include improving the aerodynamics and fuel efficiency of a vehicle. These shutters also provide benefits related to engine encapsulation, improved cold start, heat retention, and noise reduction. All these advantages are leading to rise in demand for automotive active grille shutters across geographies.
However, demand for automotive active grille shutters witnessed a dip in 2020 due to the COVID-19 pandemic. The pandemic caused lockdowns, and some of the most affected regions hosted major production plants. Due to this, the automotive industry, as well as demand for active grille shutters, saw a significant drop.
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As per Persistence Market Research, the global automotive active grille shutter market is projected to reach a valuation of US$ 6.2 Bn by 2031, expanding at a CAGR of close to 8% throughout this period.
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“Increasing demand for cars with regulated engine temperatures, lesser aerodynamic drag, higher fuel efficiency, and lower emissions are key factors driving sales of automotive active grille shutters,” says a Persistence Market Research analyst.
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The market is moderately consolidated in nature, with key players accounting for nearly half of the overall market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their high market shares. Some of the key players in this industry are Magna International Inc, Valeo SA, Rochling Automotive, HBPO GmbH, Shape Corporation, and Aisin Corporation.
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The research report analyzes demand for automotive active grille shutters. The market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Persistence Market Research’s scope, the market has been analyzed on the basis of vehicle, shutter, vane, sales channel, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.
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