North 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 Com

North 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 North America is expected to grow from US$ 677.80 million in 2022 to US$ 895.58 million by 2028. It is estimated to grow at a CAGR of 4.8% from 2022 to 2028.
Raising demand for passenger 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 US, Canada, and Mexico are the key contributors to the active grille shutter market in the North America. North America consists of technologically advanced economies, including the US, Canada, and Mexico. Developments in technology across the region have contributed to a highly competitive market for all industries. North America is also attracting massive foreign direct investment (FDIs) from economically strong countries for technological growth. Strict regulations by emerging countries in North America to reduce carbon emissions are forcing automotive manufacturers to use various technologies, including active grille shutters. The introduction of regulations to reduce greenhouse gas (GHG) emissions from passenger cars and trucks and the reduction of aerodynamic drag of vehicles are expected to play a vital role in the growth of the active grille shutter market. In December 2021, Environmental Protection Agency (EPA) announced the national greenhouse gas (GHG) emissions standards for light passenger vehicles and heavy vehicles that are to be manufactured between 2023 and 2026. The vehicles manufactured between 2023 and 2026 must follow the GHG emissions. The finalized norms would help in achieving a reduction in GHG emissions. To follow such norms, the usage of active grille shutters is seen in vehicles, which has increased the demand for AGS in North America. As a result, the active grille shutter market in North America is expected to witness substantial growth in the coming years due to the increasing demand for fuel-efficient vehicles and stringent government regulations across the region.
Exhibit: North America active grille Shutter Market Revenue and Forecast to 2028 (US$ Million)

North America active grille Shutter Market Segmentation

The North America 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 the US, Canada, and Mexico. The US 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; and WIRTHWEIN AG are the leading companies operating in the active grille shutter market in the region.

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