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Automotive Radiator Grille Market to Reach US$ 3,087.2 Million in 2023

 


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The global automotive radiator grille market is projected to reach US$ 3,087.2 million in 2023 and offers healthy growth opportunities in the entire ecosystem of the market. Increasing global automobile production, rising demand for fuel-efficient vehicles, higher preference towards excellent aesthetics, increasing demand for lightweight parts, and rising automobile fleet are the major factors that the proliferating the growth of radiator grilles in the automotive industry.

Insights based on vehicle type:-

The global automotive radiator grille market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle) and M&HCV (Medium- & Heavy-Duty Commercial Vehicle). Passenger car is expected to remain the growth engine of the global automotive radiator grille market during the forecast period of 2018 to 2023. Increasing production of passenger cars, especially SUVs and compact cars, coupled with a higher demand for excellent aesthetics is the major driver of the segment.

Insights based on design type:-

Based on the design type, the global automotive radiator grille market is segmented as Horizontal Grille, Vertical Grille, and Mesh Grille. Horizontal grille is expected to remain the most dominant design type in the global automotive radiator grille market during the forecast period of 2018 to 2023. Horizontal grille is preferred in most of the vehicle types including passenger cars and light commercial vehicles, driven by its good strength, easy maintenance, and high aesthetic value.

Insights based on material type:-

Based on the material type, the automotive radiator grille market is segmented as metal and plastic. Plastic radiator grille is expected to remain the largest segment of the global automotive radiator grille market during the forecast period. It is also expected to witness higher growth during the same period. Stringent government regulations regarding fuel efficiency enhancements and carbon emission reductions are compelling automakers to incorporate lightweight materials into various applications of the vehicle to make the overall vehicle lightweight. Radiator grille is also not untouched with such market dynamic and has been experiencing a shift from metal to plastic materials. Plastic grille not only reduces the system weight but also offers higher performance than metal parts.

Insights based on process type:-

Based on the process type, the automotive radiator grille market is segmented as Die Casting, Injection Molding, and Others. The injection molding process is expected to remain the most dominant and fastest-growing process type in the global automotive radiator grille market during the forecast period. Injection molding process is capable of manufacturing small-sized parts with high complexity in shapes. It is extremely suitable for mass-volume auto applications and has a very short part cycle time with very fewer scrapes.

Insights based on region:-

Based on the region, Asia-Pacific is expected to remain the largest automotive radiator grille market during the forecast period. The region is also expected to experience the highest growth during the same period. The higher growth of automotive radiator grille in Asia-Pacific is mainly attributable to the increasing vehicle production in the region. China and India are likely to act as the growth engines of the region’s market during the forecast period.

The supply chain of this market comprises raw material suppliers, automotive radiator grille manufacturers, distributors, and automotive OEMs. The key automotive radiator grille manufacturers are Magna International, Plastic Omnium, Toyoda Gosei, SRG Global, Lacks Enterprises, Sakae Riken Kogyo Co. , Ltd. , Samshin Chemicals Co. , Ltd. , Faltec Co. , Ltd. Development of active grille, regional expansion, and execution of mergers & acquisitions are the key strategies adopted by major key players to gain a competitive edge in the market.

Source:- https://stratviewresearch.com/298/Automotive-Radiator-Grille-Market.html

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

Phone No. +1-313-307-4176

Email: sales@stratviewresearch.com

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