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Europe 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)]
- Report Code : BMIRE00026920
- Pages : 120
The active grille shutter market in Europe is expected to grow from US$ 979.39 million in 2022 to US$ 1,381.74 million by 2028. It is estimated to grow at a CAGR of 5.9% from 2022 to 2028.
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.
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 Germany, France, Italy, the UK, Russia, and Rest of Europe. Germany 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; Standard Motor Products Inc.; and WIRTHWEIN AG are the leading companies operating in the active grille shutter market in the region.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Active Grille Shutter Market – By Propulsion Type
1.3.2 Europe Active Grille Shutter Market – By Vane Type
1.3.3 Europe Active Grille Shutter Market – By Vehicle Type
1.3.4 Europe Active Grille Shutter Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe 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. Europe Active Grille Shutter Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Passenger Vehicles
5.1.2 Raising Demand for Lightweight AGS in Energy-efficient Vehicles
5.2 Market Restraints
5.2.1 Heavy Cost of AGS and Lack of Awareness Among Customers
5.3 Market Opportunities
5.3.1 Elevating Demand for AGS for Super Sports Car or Premium Cars
5.4 Future Trends
5.4.1 Burgeoning Adoption of EV and Hybrid EV
5.5 Impact Analysis of Drivers and Restraints
6. Europe Active Grille Shutter Market Analysis
6.1 Europe Active Grille Shutter Market Overview
6.2 Europe Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
7. Europe Active Grille Shutter Market Analysis – by Propulsion Type
7.1 Overview
7.2 Europe 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. Europe Active Grille Shutter Market Analysis – by Vane Type
8.1 Overview
8.2 Europe 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. Europe Active Grille Shutter Market Analysis – by Vehicle Type
9.1 Overview
9.2 Europe 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. Europe Active Grille Shutter Market – Country Analysis
10.1 Overview
10.1.1 Europe Active Grille Shutter Market Breakdown, by Country
10.1.1.1 Germany Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.1.1 Germany Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.1.2 Germany Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.1.3 Germany Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.2 France Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.2.1 France Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.2.2 France Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.2.3 France Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.3 Italy Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.3.1 Italy Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.3.2 Italy Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.3.3 Italy Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.4 UK Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.4.1 UK Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.4.2 UK Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.4.3 UK Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.5 Russia Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.5.1 Russia Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.5.2 Russia Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.5.3 Russia Active Grille Shutter Market Breakdown, By Vehicle Type
10.1.1.6 Rest of Europe Active Grille Shutter Market, Revenue and Forecast to 2028
10.1.1.6.1 Rest of Europe Active Grille Shutter Market Breakdown, By Propulsion Type
10.1.1.6.2 Rest of Europe Active Grille Shutter Market Breakdown, By Vane Type
10.1.1.6.3 Rest of Europe 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 Standard Motor Products Inc.
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 TECHNIPLAS US LLC
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 WIRTHWEIN AG
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. Europe Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Active Grille Shutter Market, Revenue and Forecast to 2028 – By Country (US$ Million)
Table 3. Germany Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 4. Germany Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 5. Germany Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 6. France Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 7. France Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 8. France Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 9. Italy Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 10. Italy Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 11. Italy Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 12. UK Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 13. UK Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 14. UK Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 15. Russia Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 16. Russia Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 17. Russia Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 18. Rest of Europe Active Grille Shutter Market, Revenue and Forecast to 2028 – By Propulsion Type (US$ Million)
Table 19. Rest of Europe Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vane Type (US$ Million)
Table 20. Rest of Europe Active Grille Shutter Market, Revenue and Forecast to 2028 – By Vehicle Type (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Active Grille Shutter Market Segmentation
Figure 2. Europe Active Grille Shutter Market Segmentation – By Country
Figure 3. Europe Active Grille Shutter Market Overview
Figure 4. ICE Segment held the Largest Share of Active Grille Shutter Market
Figure 5. Germany to Show Great Traction During Forecast Period
Figure 6. Europe: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Tier 1 Customer List
Figure 9. Europe Active Grille Shutter Market Impact Analysis of Drivers and Restraints
Figure 10. Europe Active Grille Shutter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Europe 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. Europe 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. Europe 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 Europe Active Grille Shutter Market
Figure 22. Europe Active Grille Shutter Market Breakdown, by Country, 2021 & 2028 (%)
Figure 23. Germany Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. France Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. Italy Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 26. UK Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 27. Russia Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of Europe Active Grille Shutter Market, Revenue and Forecast to 2028 (US$ Million)
● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe 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 Europe 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 Europe 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
The List of Companies – Europe Active Grille Shutter Market
● Valeo SA
● HBPO GmbH
● Magna International Inc.
● Röchling SE & Co. KG
● SRG Global Inc.
● SHAPE CORPORATION
● TECHNIPLAS US LLC
● WIRTHWEIN AG
● Standard Motor Products Inc.
At 5.9% CAGR, the Europe Active Grille Shutter Market is speculated to be worth US$ 1,381.74 million by 2028, says The Insight Partners
According to The Insight Partners’ research, the Europe active grille shutter market was valued at US$ 979.39 million in 2022 and is expected to reach US$ 1,381.74 million by 2028, registering an annual growth rate of 5.9% from 2022 to 2028. Increasing demand for passenger vehicles and raising 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.
On the contrary, heavy cost of AGS and the lack of awareness among customers.
Based on battery type, the Europe active grille shutter market is segmented into ICE and electric. The ICE segment held 90.6% market share in 2022, amassing US$ 887.60 million. It is projected to garner US$ 1,238.33 million by 2028 to expand at 5.7% CAGR during 2022–2028.
Based on application, the Europe active grille shutter market is segmented into horizontal and vertical. The horizontal segment held 80.6% market share in 2022, amassing US$ 789.45 million. It is projected to garner US$ 1,125.85 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on connectivity, the Europe active grille shutter market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicles segment held 82.4% market share in 2022, amassing US$ 807.05 million. It is projected to garner US$ 1,111.81 million by 2028 to expand at 5.5% CAGR during 2022–2028
Based on country, the Europe active grille shutter market has been segmented into the Germany, France, Italy, UK, Russia, and Rest of Europe. Our regional analysis states that Germany captured 42.1% market share in 2022. It was assessed at US$ 412.58 million in 2022 and is likely to hit US$ 607.55 million by 2028, exhibiting a CAGR of 6.7% during the forecast period.
Key players dominating the Europe active grille shutter market are 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 among others.
In 2022, Magna announced the opening of a new plant in Kechnec, Solvakia to expand its ADAS and electrification footprint. In 2021, Continental AG launched a new line of active grille shutters for direct replacements on Ford and Chrysler vehicles.
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