Press release
Automotive Grille Market Detailed Analysis and Forecast 2021-2031
Automotive Grille Market - An OverviewThe global automotive grille market is expected to witness strong growth during the forecast period between 2021 and 2031.
Automotive grille serves as a protective cover on the opening and closing of a vehicle which allows the air to enter and leave the automobile. Automotive grilles have been deployed to maintain the temperature of the radiator in a vehicle.
Automotive grille manufactured from aluminum and stainless steel have witnessed maximum demand and have been deployed in passenger cars, light commercial vehicles, and heavy commercial vehicles.
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COVID-19 pandemic negatively impacted the growth in the overall automotive grille market. With governments imposing strict social distancing regulations and lockdowns in a bid to contain the spread of the virus, automotive manufacturing units were forced to function with reduced labor or shut down permanently. This led to reduced demand for automotive grilles and lowered the overall market growth.
However, with most population sections double vaccinated and approval given to the use of a third dose, production facilities could start operations with close to full capacity soon which could lead to increased automotive grille demand and help in the growth of the global market.
Automotive Grille Market - Trends and Opportunities
Rising awareness about achieving improved overall performance in the automotive industry is the key growth driver for the global automotive grille market.
Increasing automobile production in both developed and developing countries worldwide could fuel the automotive grille demand and help in overall market growth, in future.
Also, rising production of electric vehicles and increasing product demand could create significant revenue-generating opportunities for well-established automotive grille market players, in the coming years.
Advancements to existing automotive grille products could also bolster the global market, in years to come.
Other factors such as rapid urbanization, witnessed in developing economies could also contribute to the growth of the global automotive grille market, in future.
Billet automotive grille segment is anticipated to make the largest contribution, in terms of revenue, to the overall market because of product features such as lightweight nature, cost-effectiveness, and easy machining leading to increased product demand.
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Automotive Grille Market - Competitive Landscape
With the presence of several well-established market players, the competition in the global automotive grille market is intense. Many of these players have become successful owing to years of delivering consistent results and are expected to account for a large share in the overall market, in future.
Growth strategies such as novel product launches could assist leading automotive grille market players create revenue-generating opportunities and gain a competitive edge over other players.
Prominent automotive grille market players could sign collaborative agreements with smaller players in a bid to expand their market presence and increase their revenue shares.
The smaller players will seek funding from private investors, which could help them in their long-term growth.
Different research and development activities could be a key growth strategy for well-established automotive grille market players, in the years ahead.
Few leading players in the global automotive grille market include Westin Automotive Products, Putco, HBPO GmbH, Magna International, and Dorman Products.
Automotive Grille Market - Regional Assessment
Asia Pacific is expected to offer maximum revenue-generating opportunities for the global automotive grille market owing to increased development witnessed in the automotive industry in countries such as China and India, contributing hugely to market growth in the region.
North America is expected to witness substantial growth in the overall automotive grille market because of the large presence of well-established market players in countries such as US and Canada.
Europe is projected to witness strong growth in the overall market because of increased automobile production in countries such as Germany and UK.
The rest of the world is expected to witness moderate growth in the global automotive grille market, in years to come.
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