The Global "Automotive Active Grille Shutter Systems (AGS) Market" is expected to grow at a high CAGR of 2% during the forecast period (2022-2029).
Automotive active grille shutters are grille systems used in automobiles to allow and reduce airflow selectively. The automatic mechanism of the active grille shutters helps the vanes open and close depending on the real-time conditions of the vehicle.
This contributes to reducing the overall drag of the car thereby lowering the carbon emissions and improving the fuel economy of the car.
Rising global automotive sales need for fuel-efficient cars, regulations on carbon emissions of vehicles, growing sales of electric vehicles, and customers preferring high-performance cars are the major factors responsible for the growth of the global automotive active grille shutter systems market.
Rising global automotive sales is a primary driver attributing to the growing demand for automotive active grille shutter products. According to the Association of Motor Vehicles Manufacturers (OICA), 96.8 million vehicles were sold globally in 2017 compared to 93.9 million and 89.7 million in 2016 and 2015 witnessing a growth rate of 3.08% in 2017 and 4.6% in 2016 respectively.
The increasing growth sales of the global automotive industry is anticipated to dominate the global automotive active grille shutter systems market.
However, increasing manufacturing costs, less penetration of active grille shutter systems in automobiles, and rising sales of electric vehicles are the major factors hampering the global automotive active grille shutter systems market.
According to the International Energy Agency, 2017 witnessed global record sales of 1.1 million electric cars. The sales of electric vehicles have increased by more than 50% in 2017 and China has accounted for nearly half of the sales. The global stock of electric vehicles surpassed 3 million in 2017.
This increasing demand for electric vehicles is one of the primary factors hampering the growth of the automotive active grille shutter systems market.
The Global Automotive Active Grille Shutter Systems (AGS) Market has been segmented by type of the product, vehicle type, and geography.
Based on the vehicle type, the market is segmented as passenger vehicles and commercial vehicles. The passenger vehicles segment is the dominant segment of the global automotive active grille shutter systems market owing to the increasing demand for passenger vehicles globally and consumers preferring fuel-efficient cars.
According to the Association of Motor Vehicles Manufacturers (OICA), 70.8 million passenger cars were sold in 2017 compared to 69.5 million in 2016 and 66.3 million passenger cars in 2015.
Owing to the increasing global consumption of oil and natural gas, consumers are shifting their buying patterns towards purchasing fuel-efficient vehicles.
The global oil production as per the Global energy statistical yearbook in 2005 was about 88721 thousand barrels per day and reached 92649 thousand barrels in 2017 with a 0.7% annual growth rate. Rising oil prices coupled with emission norms are the major factors responsible for the passenger vehicles segment dominating the global automotive active grille shutter systems market.
The Global Automotive Active Grille Shutter Systems (AGS) Market has been segmented into the following regions like North America, South America, Asia Pacific, Europe, and Rest of the World (ROW).
The European region is the dominant segment of the global automotive active grille shutter (AGS) market owing to the rising sales of European automotive sales, the presence of major players in the European region, and Stringent European emission norms are the major factors responsible for driving the European automotive active grille shutter (AGS) systems market. According to the Euro 5b tier, which was approved in September 2011 by the European emission standards, the permissible levels of NOx emissions for diesel vehicles were 0.180 g/kg, and particulate matter was 0.005 g/kg.
Due to increasing levels of environmental pollution, it has recently launched the Euro 6d mandate which will be approved in January 2020. According to the Euro 6d emission mandates, the allowable limit for NOx emissions is 0.080g/kg and particulate matter emissions are 0.0045 g/kg.
The stringent regulations imposed upon reducing the carbon emissions of the vehicle are an essential factor propelling the growth of the European automotive active grille shutter systems market.
Some of the major players in this market incorporate competitive strategies like mergers and acquisitions to retain their market competitiveness. For instance, in November 2018, Rochling Group acquired Scharwtz GmbH Technical plastics advancing its growth strategy with new technologies.
New product launches and expansion of facilities are some other vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
For instance, in April 2018, Magna International opened a new 189,000 body and Chassis plant in Mexico which will produce chassis structures for Mercedes and BMW.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The Global Automotive Active Grille Shutter Systems (AGS) Market is segmented based on the type as horizontal vanes and vertical vanes. Based on the type of vehicles, the market is segmented as passenger vehicles and commercial vehicles. Based on the geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Rest of the World (ROW).
The report profiles the following companies – Magna International, Valeo, SRG Global, Rochling Group, Hella KGaA Hueck & Co., Sonceboz, Toyoda Gosei, Mirror Controls International, Johnson Electric, and Brose.