
Asia Pacific Active Grille Shutter Market
No. of Pages: 114 | Report Code: BMIRE00026919 | Category: Automotive and Transportation
No. of Pages: 114 | Report Code: BMIRE00026919 | Category: Automotive and Transportation
Widening adoption of EV and hybrid EV
In 2020, more than 10 million electric cars were on the roads on the level. Most new EV registrations were for battery electric vehicles (BEV). Several factors contributed to the increase in electric car registrations in 2020. Major factors contributed to the reduction in carbon emissions and the longer range of the vehicle compared to ICE vehicles. Along with this, governments increased subsidy schemes and launched initiatives for EVs as part of stimulus packages to counter the effects of the pandemic. An increase in the adoption of EVs and Hybrid EVs will directly impact the sales of active grille shutters to be used in these vehicles over the next few years. Another aspect of the increasing demand for AGS in electric vehicles is the decreased need for cooling. Even though electric cars are less likely to need cooling compared to ICE vehicles, electric cars also need to cool their batteries and motors. The front-end module needs to be integrated with active grille shutters as it represents the source of air drag, which can significantly improve the performance of EVs.
Market Overview
Presence of emerging economies and rise in adoption of advanced and sophisticated technologies contribute to the growth of APAC. Australia, China, Japan, and India are among the major contributors to the development of the active grille shutter market. Rapid developments in technologies, digitalization of economies, and adequate support by government are contributing to implement technologically advanced solutions across numerous sectors, including automotive, in the region and helping in the smooth evolution of the economies from the developing stage to the developed stage.
Asia Pacific Active Grille Shutter Market Revenue and Forecast to 2028 (US$ Million)
Strategic insights for the Asia Pacific Active Grille Shutter provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Asia Pacific Active Grille Shutter refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Asia Pacific Active Grille Shutter Strategic Insights
Asia Pacific Active Grille Shutter Report Scope
Report Attribute
Details
Market size in 2022
US$ 500.03 Million
Market Size by 2028
US$ 683.60 Million
Global CAGR (2022 - 2028)
5.3%
Historical Data
2020-2021
Forecast period
2023-2028
Segments Covered
By Propulsion Type
By Vane Type
By Vehicle Type
Regions and Countries Covered
Asia-Pacific
Market leaders and key company profiles
Asia Pacific Active Grille Shutter Regional Insights
Asia Pacific Active Grille Shutter Market Segmentation
The Asia Pacific active grille shutter market is segmented into propulsion type, vane type, vehicle type, and country.
Valeo SA; HBPO GmbH; Magna International Inc.; Röchling SE & Co. KG; SRG Global Inc.; SHAPE CORPORATION; TECHNIPLAS US LLC; WIRTHWEIN AG; and STARLITE CO., LTD. are the leading companies operating in the Asia Pacific Active Grille Shutter Market in the region.
The Asia Pacific Active Grille Shutter Market is valued at US$ 500.03 Million in 2022, it is projected to reach US$ 683.60 Million by 2028.
As per our report Asia Pacific Active Grille Shutter Market, the market size is valued at US$ 500.03 Million in 2022, projecting it to reach US$ 683.60 Million by 2028. This translates to a CAGR of approximately 5.3% during the forecast period.
The Asia Pacific Active Grille Shutter Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Active Grille Shutter Market report:
The Asia Pacific Active Grille Shutter Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Active Grille Shutter Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Active Grille Shutter Market value chain can benefit from the information contained in a comprehensive market report.