
Published On: Oct 2022
Published On: Oct 2022
At 4.0% CAGR, the South & Central America Active Grille Shutter Market is projected to be worth US$ 94.48 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America active grille shutter market was valued at US$ 74.74 million in 2022 and is expected to reach US$ 94.48 million by 2028, registering an annual growth rate of 4.0% from 2022 to 2028 Vast adoption of EV and hybrid EV and boosting demand for lightweight AGS in energy efficient vehicles.
Automakers are opening new manufacturing sites or moving existing ones in growing automotive markets to meet the growing demand for active grille shutter products that are to be required in sports cars or premium cars. Automakers are concentrating on enhancing the quality of these shutters to produce more effective products for luxury and sports cars. These players are expected to benefit from the high-performing and durable items in terms of revenue collection. For instance, the Type 132 sports SUV from Lotus was unveiled in 2021 with an active grille shutter system. Type 132 sports SUV is 1 of the 3 premium electric vehicles planned to be launched by Lotus. The airflow into the cooling radiators of the vehicle is controlled by AGS, which, when closed, the shutters provide smoother airflow and, ultimately, improve overall efficiency.
On the contrary, excessive cost of AGS and the lack of awareness among customers.
Key players dominating the South & Central America active grille shutter market are Valeo SA; HBPO GmbH; Magna International Inc.; TECHNIPLAS US LLC; and WIRTHWEIN AG among others.
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