Report : North America Active Grille Shutter Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Propulsion Type [ICE (Internal Combustion Engine) and Electric], Vane Type (Horizontal and Vertical), Vehicle Type [Passenger Vehicles, LCV (Light Commercial Vehicles) and HCV (Heavy Commercial Vehicles)]
At 4.8% CAGR, the North America Active Grille Shutter Market is speculated to be worth US$ 895.58 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America active grille shutter market was valued at US$ 677.80 million in 2022 and is expected to reach US$ 895.58 million by 2028, registering an annual growth rate of 4.8% from 2022 to 2028. Growing demand for lightweight AGS in energy efficient vehicles and raising demand for passenger vehicles.
The automotive industry is shifting toward lightweight components in vehicles, as they offer higher strength-to-weight ratios, corrosion resistivity, and workability features. Such components are meant to replace heavy metals in various vehicle parts. The industry is moving toward the growing demand for such lightweight components, including active grille shutters. The demand for lightweight AGS from automakers has significantly increased over the decade due to the reduction in the overall weight of the vehicles. Such developments in AGS aid the vehicle by saving assembly time and reducing lowers mass. Lightweight AGS modules can achieve up to 25% mass savings over steel versions, leading to better fuel efficiency and lower carbon emissions. Such developments by major automotive manufacturers are driving the active grille shutters market.
On the contrary, Higher cost of AGS and the lack of awareness among customers.
- Based on battery type, the North America active grille shutter market is segmented into ICE and electric. The ICE segment held 91.1% market share in 2022, amassing US$ 617.50 million. It is projected to garner US$ 799.03 million by 2028 to expand at 4.4% CAGR during 2022–2028.
- Based on application, the North America active grille shutter market is segmented into horizontal and vertical. The horizontal segment held 80.1% market share in 2022, amassing US$ 543.04 million. It is projected to garner US$ 728.08 million by 2028 to expand at 5.0% CAGR during 2022–2028.
- Based on connectivity, the North America active grille shutter market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicles segment held 70.0% market share in 2022, amassing US$ 474.74 million. It is projected to garner US$ 610.34 million by 2028 to expand at 4.3% CAGR during 2022–2028
- Based on country, the North America active grille shutter market has been segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 90.1% market share in 2022. It was assessed at US$ 610.70 million in 2022 and is likely to hit US$ 813.01 million by 2028, exhibiting a CAGR of 4.9% during the forecast period.
Key players dominating the North America active grille shutter market are Valeo SA; HBPO GmbH; Magna International Inc.; Röchling SE & Co. KG; SRG Global Inc.; SHAPE CORPORATION; TECHNIPLAS US LLC; and WIRTHWEIN AG among others.
- In 2022, Techniplas US LLC, acquired publicly traded Nanogate Group (Nanogate), a prominent manufacturer of highly engineered plastics systems and components.
- In 2019, Spectra Premium announced the launch of 105 new aftermarket products, including 15 AGS parts. The new parts announced are suitable for nearly 12 million vehicles present on road in Canada.
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