South & Central 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)]
The active grille shutter market in South & Central America is expected to grow from US$ 74.74 million in 2022 to US$ 94.48 million by 2028. It is estimated to grow at a CAGR of 4.0% from 2022 to 2028.
Boosting demand for lightweight AGS in energy efficient vehicles
Of late, urbanization across the region has increased at a significant pace, leading to a hike in the average disposal income of the urban population, allowing people to enhance their lifestyles. Improved lifestyles further boost the demand for electric passenger vehicles, thus, encouraging manufacturers to strengthen their production in a bid to cater to customers optimally. The production of vehicles, including passenger and commercial vehicles, has registered steady growth in developed and developing economies in the post-pandemic. Automotive vehicle sales, especially passenger vehicles, profoundly influence the market's growth. The steady demand for active grille shutters (AGS) is also anticipated to gain traction during the coming years. The main drivers propelling this market’s rise are the increase in demand for passenger cars brought on by the surge in the number of middle-income groups and the improvement in the standard of living in emerging nations. Consumers are increasingly gravitating toward passenger vehicles due to their affordability factor. As reported by Statista, the revenue from the passenger car industry is anticipated to reach US$ 1,890 billion in 2022. Factors, such as a significant number of existing vehicles and constant demand from countries with varying temperature conditions, are contributing considerably to the rising demand for aftermarket AGS sales. Hence, the active grille shutter market is witnessing steady growth and providing several lucrative business opportunities to market players.
Market Overview
The active grille shutter market in South America (SAM) is spread across Brazil, Argentina, and the Rest of SAM. A mixed growth scenario characterizes the region, with many countries having complex political and macroeconomic environments. Despite many obstacles, the positive steps by the Government of Brazil are helping economies develop at a sustainable pace during the forecast era and achieve carbon emissions. For instance, an initiative by the Brazilian authority regarding Route 2030 is anticipated as the industry struggles to grow sustainably following the country's exit from recession in 2017. Route 2030 offered US$ 535 million in tax incentives for 2019 to eligible manufacturers and US$ 382 million annually till 2030. The program applies specifically to profitable auto companies actively investing in research & development, especially those creating technologies that boost energy efficiency within Brazil. Brazil has the most developed automotive industries in South & Central America, as Brazil producing 2 million automobiles in 2020. In May 2021, Volkswagen announced its plans to invest USD $1.02 billion for a period of 5 years. The investment will help the company strengthen its position in the automotive market in South America. The company is also focusing on local vehicle projects that help increase digitization and decarbonization in the region.
South & Central America Active Griller Shutter Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Active Griller Shutter Market Segmentation
The South & Central America active griller 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 Brazil, Argentina, and Rest of SAM. Brazil dominated the market share in 2022.
Valeo SA; HBPO GmbH; Magna International Inc.; TECHNIPLAS US LLC; and WIRTHWEIN AG are the leading companies operating in the South & Central America active griller 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 South & Central America Active Grille Shutter Market – By Propulsion Type
1.3.2 South & Central America Active Grille Shutter Market – By Vane Type
1.3.3 South & Central America Active Grille Shutter Market – By Vehicle Type
1.3.4 South & Central America Active Grille Shutter Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Active Grille Shutter Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
4.5 Premium Insights
4.5.1 Tier 1 Customer List
5. South & Central America Active Grille Shutter Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Wider Demand for Passenger Vehicles
5.1.2 Boosting 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 Increased Demand for AGS for Super Sports Car or Premium Cars
5.4 Future Trends
5.4.1 Vast Adoption of EV and Hybrid EV
5.5 Impact Analysis of Drivers and Restraints
6. South & Central America Active Grille Shutter Market Analysis
6.1 South & Central America Active Grille Shutter Market Overview
6.2 South & Central America Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
7. South & Central America Active Grille Shutter Market Analysis – by Propulsion Type
7.1 Overview
7.2 South & Central America 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. South & Central America Active Grille Shutter Market Analysis – by Vane Type
8.1 Overview
8.2 South & Central America 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. South & Central America Active Grille Shutter Market Analysis – by Vehicle Type
9.1 Overview
9.2 South & Central America 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. South & Central America Active Grille Shutter Market – Country Analysis
10.1 Overview
10.1.1 SAM Active Grille Shutter Market Breakdown, by Country
10.1.1.1 Brazil Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.1.1 Brazil Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.1.2 Brazil Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.1.3 Brazil Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.2 Argentina Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.2.1 Argentina Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.2.2 Argentina Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.2.3 Argentina Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.3 Rest of SAM Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.3.1 Rest of SAM Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.3.2 Rest of SAM Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.3.3 Rest of SAM 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 TECHNIPLAS US LLC
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 WIRTHWEIN AG
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
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. South & Central America Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. SAM Active Grille Shutter Market, Revenue and Forecast to 2028 – By Country (US$ Million)
Table 3. Brazil Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 4. Brazil Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 5. Brazil Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 6. Argentina Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 7. Argentina Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 8. Argentina Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 9. Rest of SAM Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 10. Rest of SAM Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 11. Rest of SAM Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. South & Central America Active Grille Shutter Market Segmentation
Figure 2. South & Central America Active Grille Shutter Market Segmentation – By Country
Figure 3. South & Central America Active Grille Shutter Market Overview
Figure 4. ICE Segment held the Largest Share of Active Grille Shutter Market
Figure 5. Brazil to Show Great Traction During Forecast Period
Figure 6. South & Central America: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Tier 1 Customer List
Figure 9. South & Central America Active Grille Shutter Market Impact Analysis of Drivers and Restraints
Figure 10. South & Central America Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. South & Central America Active Grille Shutter Market Breakdown, By Propulsion Type, 2021 & 2028 (%)
Figure 12. ICE: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. Electric: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. South & Central America Active Grille Shutter Market Breakdown, By Vane Type, 2021 & 2028 (%)
Figure 15. Horizontal: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. Vertical: Active Grille Shutter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. South & Central America Active Grille Shutter Market Breakdown, By Vehicle Type, 2021 & 2028 (%)
Figure 18. Passenger Vehicles Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. LCV Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. HCV Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Geographic Overview of South & Central America Active Grille Shutter Market
Figure 22. SAM Active Grille Shutter Market Breakdown, by Country, 2021 & 2028 (%)
Figure 23. Brazil Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. Argentina Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. Rest of SAM Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
- Valeo SA
- HBPO GmbH
- Magna International Inc.
- TECHNIPLAS US LLC
- WIRTHWEIN AG
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South & Central America active griller shutter market.
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the active griller shutter market, as well as those hindering it
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