Global Automotive Radiator Grille Market – Set to reach US$ 3,087.2 million in 2023
The report on Automotive Radiator Grille Market, published on Jan 2018 by Stratview Research, will showcase the market trend of 2012-2017 and forecast period of 2018-2023.
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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.
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.
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The report on Automotive Radiator Grille Market is explained segment-wise for a better understanding of the market trend.
The market is segmented based on the vehicle type as Hatchback, SUV, and Others. Hatchback is likely to remain the most dominant segment over the next five years; however, SUV is likely to be the fastest-growing segment during the same period. Renault Clio and Megane, Peugeot 308 and 508, and BMW i3 are some key hatchback models that contain composite liftgate.
The market is segmented based on the manufacturing process type as Injection Molding and Compression Molding. Injection molding is expected to remain the most dominant process over the next five years, whereas compression molding is likely to experience a higher growth during the same period. Sheet molding compound (SMC) and long-fiber-reinforced thermoplastic (LFRT) compounds are the major types of composites being processed for fabricating composite liftgate.
Based on regions, Europe is expected to remain the largest market for composite liftgates during the forecast period. European OEMs such as Group PSA, Groupe Renault, and BMW AG have been the early movers in adopting composite liftgate, leading to the dominance of the region in the global market. However, Asia-Pacific is likely to be the fastest-growing region in the market, driven by China. Despite weakening economic growth of China, the country is still able to attract investments from automakers. All the major global automakers are rolling out their assembly plants in the country to serve the growing local demand as well as the export market. This is also casting a huge impact on the overall market dynamics of liftgates, as the country is gradually becoming the major market for composite liftgates.
Salient Features of the Report
The Stratview Report will offer you a detailed view the growth of the global Automotive Radiator Grille Market and the future prospects of the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth
What we offer?
The global market research company, Stratview Research has been dealing with different market research reports in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The team consists of the best experts who are known to offer the best assessments and screenings so that the interested companies can afford to rely upon and take corrective decisions ahead.
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