Asia Pacific 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)]
The Active Grille Shutter Market in Asia Pacific is expected to grow from US$ 500.03 million in 2022 to US$ 683.60 million by 2028. It is estimated to grow at a CAGR of 5.3% from 2022 to 2028.
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)
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.
- Based on propulsion type, the market is sub segmented into ICE and electric. The ICE segment registered the largest market share in 2022.
- Based on vane type, the market is segmented into horizontal and vertical. The horizontal segment held a larger market share in 2022.
- Based on vehicle type, the market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicles segment held the largest market share in 2022.
- Based on country, the market is segmented into China, India, Japan, South Korea, and Rest of APAC. China dominated the market share in 2022.
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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Active Grille Shutter Market – By Propulsion Type
1.3.2 Asia Pacific Active Grille Shutter Market – By Vane Type
1.3.3 Asia Pacific Active Grille Shutter Market – By Vehicle Type
1.3.4 Asia Pacific Active Grille Shutter Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Active Grille Shutter Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Active Grille Shutter Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Boosting Demand for Passenger Vehicles
5.1.2 Heighten Demand for Lightweight AGS in Energy-efficient Vehicles
5.2 Market Restraints
5.2.1 Excessive Cost of AGS and Lack of Awareness Among Customers
5.3 Market Opportunities
5.3.1 Advancing Demand for AGS for Super Sports Car or Premium Cars
5.4 Future Trends
5.4.1 Widening Adoption of EV and Hybrid EV
5.5 Impact Analysis of Drivers and Restraints
6. Asia Pacific Active Grille Shutter Market Analysis
6.1 Asia Pacific Active Grille Shutter Market Overview
6.2 Asia Pacific Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
7. Asia Pacific Active Grille Shutter Market Analysis – by Propulsion Type
7.1 Overview
7.2 Asia Pacific Active Grille Shutter Market Breakdown, By Propulsion Type
7.3 ICE
7.3.1 Overview
7.3.2 ICE: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Electric
7.4.1 Overview
7.4.2 Electric: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Active Grille Shutter Market Analysis – by Vane Type
8.1 Overview
8.2 Asia Pacific Active Grille Shutter Market Breakdown, By Vane Type
8.3 Horizontal
8.3.1 Overview
8.3.2 Horizontal: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Vertical
8.4.1 Overview
8.4.2 Vertical: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Active Grille Shutter Market Analysis – by Vehicle Type
9.1 Overview
9.2 Asia Pacific Active Grille Shutter Market Breakdown, By Vehicle Type
9.3 Passenger Vehicles
9.3.1 Overview
9.3.2 Passenger Vehicles Market Revenue and Forecast to 2028 (US$ Million)
9.4 LCV
9.4.1 Overview
9.4.2 LCV Market Revenue and Forecast to 2028 (US$ Million)
9.5 HCV
9.5.1 Overview
9.5.2 HCV Market Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Active Grille Shutter Market – Country Analysis
10.1 Overview
10.1.1 Asia Pacific Active Grille Shutter Market Breakdown, by Country
10.1.1.1 China Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 China Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.1.2 China Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.1.3 China Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.2 India Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 India Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.2.2 India Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.2.3 India Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.3 Japan Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Japan Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.3.2 Japan Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.3.3 Japan Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.4 South Korea Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 South Korea Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.4.2 South Korea Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.4.3 South Korea Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.5 Rest of APAC Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 Rest of APAC Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.5.2 Rest of APAC Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.5.3 Rest of APAC Active Grille Shutter Market Breakdown, By Vehicle Type
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Product Development
12. Company Profiles
12.1 Valeo SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 HBPO GmbH
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Magna International Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Röchling SE & Co. KG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 SRG Global Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 SHAPE CORPORATION
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 TECHNIPLAS US LLC
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 WIRTHWEIN AG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 STARLITE CO., LTD.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Asia Pacific Active Grille Shutter Market, Revenue and Forecast to 2028 – By Country (US$ Million)
Table 3. China Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 4. China Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 5. China Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 6. India Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 7. India Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 8. India Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 9. Japan Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 10. Japan Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 11. Japan Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 12. South Korea Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 13. South Korea Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 14. South Korea Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 15. Rest of APAC Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 16. Rest of APAC Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 17. Rest of APAC Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 18. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Active Grille Shutter Market Segmentation
Figure 2. Asia Pacific Active Grille Shutter Market Segmentation – By Country
Figure 3. Asia Pacific Active Grille Shutter Market Overview
Figure 4. ICE Segment held the Largest Share of Active Grille Shutter Market
Figure 5. China to Show Great Traction During Forecast Period
Figure 6. Asia Pacific: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Asia Pacific Active Grille Shutter Market Impact Analysis of Drivers and Restraints
Figure 9. Asia Pacific Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Asia Pacific Active Grille Shutter Market Breakdown, By Propulsion Type, 2021 & 2028 (%)
Figure 11. ICE: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 12. Electric: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. Asia Pacific Active Grille Shutter Market Breakdown, By Vane Type, 2021 & 2028 (%)
Figure 14. Horizontal: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. Vertical: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. Asia Pacific Active Grille Shutter Market Breakdown, By Vehicle Type, 2021 & 2028 (%)
Figure 17. Passenger Vehicles Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. LCV Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. HCV Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Geographic Overview of Asia Pacific Active Grille Shutter Market
Figure 21. Asia Pacific Active Grille Shutter Market Breakdown, by Country, 2021 & 2028 (%)
Figure 22. China Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 23. India Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. Japan Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea Active Grille Shutter Market, Revenue and Forecast To 2028 (US$ Million)
Figure 26. Rest of APAC Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- Valeo SA
- HBPO GmbH
- Magna International Inc.
- Röchling SE & Co. KG
- SRG Global Inc.
- SHAPE CORPORATION
- TECHNIPLAS US LLC
- WIRTHWEIN AG
- STARLITE CO., LTD.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific active grille shutter market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific active grille shutter market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the active grille shutter market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution