Once a vehicle reaches a speed of 19mph or more, it gets important to limit the flow of air that comes from the grille that is in the front. This is where use of active grille shutters plays a significant part in improving the aerodynamics and thus minimizing load on the engine and what is called an air drag. This leads to low emissions and high fuel rating for any vehicle.
As fuel efficient vehicles become the need of the hour, the demand for active grille shutters increases. A major art here is played by rising consumer awareness regarding the same. It is pertinent to note here that active grille shutters can reduce carbon dioxide emissions substantially – 3 grams in every kilometer. And, in terms if aerodynamics and air drag, the value of 25 aerodynamic points and 9% average respectively.
Thus, it goes without saying that they play a significant part in improving the environmental condition and with stringent norms regarding emission emerging worldwide, the active grille shutter market is set to grow at a significant pace – CAGR (Compound Annual Growth Rate) of an impressive 8% from 2018 and 2026, adding some notable billions to the market worth by the end of the forecast period.
It makes sense to bring in the ambitious goals of the United States (US) and European Union (EU) to reduce the levels of emission to 95 and 121 grams per kilometer by 2020 for the former and latter respectively. This prompts automakers to integrate the grille shutters in their vehicle more than anything else.
North America and Europe to Dominate the Market over the Forecast Period of 2018 and 2026
North America and Europe to dominate the market landscape of active grille shutters due to rising demand for vehicles that are fuel efficient. Besides, as mentioned above the government regulations in the two regions are quite strict, calling for greater control and compliance from automakers. Besides, the spending capacity of consumers in the two regions is quite respectable.
The Global Active Grille Shutter Market to Have a Fragmented Competitive Landscape over the Forecast Period
It is also pertinent to note here that the global active grille shutter market has numerous players operating the playfield and some of the notable players in the fragmented landscape of the global active grille shutter market are Rochling Group, Valeo, Magna International Inc., SRG Global, Batz, S.Coop, HBPO GmbH, Techniplas, LLC., Brose Fahrzeugteile GmbH & Co. KG, Coburg, Tong Yang Group, Keboda, STARLITE Co., Ltd., and Aisin Seiki Co., Ltd, among others.
In order to stay ahead of their competitors, companies often merge with other companies to have a deeper penetration into the market and firmer hold the market share.
The global automotive active grill shutter market has been segmented as follows:
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