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.
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.
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 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.
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Active Grille Shutter Market Landscape
5. Asia Pacific Active Grille Shutter Market - Key Market Dynamics
6. Asia Pacific Active Grille Shutter Market Analysis
7. Asia Pacific Active Grille Shutter Market Analysis - by Propulsion Type
8. Asia Pacific Active Grille Shutter Market Analysis - by Vane Type
9. Asia Pacific Active Grille Shutter Market Analysis - by Vehicle Type
10. Asia Pacific Active Grille Shutter Market - Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Valeo SA
- HBPO GmbH
- Magna International Inc.
- Röchling SE & Co. KG
- SRG Global Inc.
- SHAPE CORPORATION
- TECHNIPLAS US LLC
- WIRTHWEIN AG
- STARLITE CO., LTD.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 114 |
| Published | October 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 500.03 Million |
| Forecasted Market Value ( USD | $ 683.6 Million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Asia Pacific |
