Raising demand for lightweight AGS in energy efficient 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.
Market Overview
Europe consists of several developed economies, including Germany, France, Italy, the UK, and Russia. The increasing digitalization across the region is influencing various industries such as the automotive industry, and manufacturing industry, among others to maximize their capabilities and bolster the adoption of advanced solutions across the automotive sector of the region. The adoption of advanced solutions is benefiting the automotive industry. This is helping the automotive industry to enhance its distribution channel and increase profitability by expanding the platforms of distribution.
Europe Active Grille Shutter Market Revenue and Forecast to 2028 (US$ Million)
Europe Active Grille Shutter Market Segmentation
The Europe 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; Standard Motor Products Inc.; and WIRTHWEIN AG are the leading companies operating in the Active Grille Shutter Market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 979.39 Million |
| Market Size by 2028 | US$ 1,381.74 Million |
| CAGR (2022 - 2028) | 5.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Propulsion Type
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
The Europe Active Grille Shutter Market is valued at US$ 979.39 Million in 2022, it is projected to reach US$ 1,381.74 Million by 2028.
As per our report Europe Active Grille Shutter Market, the market size is valued at US$ 979.39 Million in 2022, projecting it to reach US$ 1,381.74 Million by 2028. This translates to a CAGR of approximately 5.9% during the forecast period.
The Europe 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 Europe Active Grille Shutter Market report:
The Europe Active Grille Shutter Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Active Grille Shutter Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Active Grille Shutter Market value chain can benefit from the information contained in a comprehensive market report.
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