Global Automotive Radiator Grilles Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 5.3% during the forecast period. The Global Automotive Radiator Grilles market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Automotive Radiator Grilles report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Automotive Radiator Grilles Market Overview:
Grilles are seen essentially as a design feature for vehicles by many consumers across the globe. On the other hand, radiator grilles have many useful characteristics with respect to automotive including allowing the air into the engine compartment in order to cool the radiator and making sure to flow out the hot air from the hood of the vehicle to balance the internal temperature of the vehicle body. Moreover, many manufacturers use grilles to achieve confident looks and aesthetics for their product and range of vehicles. Furthermore, it is essential to know that electric cars use grilles only for design purposes. Depend on the consumers, manufacturers developed the grilles for the sole purpose of customizable looks for vehicles. Various designs for grilles are available in the market but the functions of all the grilles are the same throughout the market. Grilles are used for aerodynamic purposes for some sports cars nowadays in order to provide drag for the speed balancing of the vehicle. Increasing automotive sector sales across the globe and improving customer preferences for grille designs are the key factors considered to drive the automotive radiator market growth.
Global Automotive Radiator Grilles Market Dynamics:
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Inclination of manufacturers towards design aesthetics of vehicles and increasing demand for exterior uniqueness of cars are the key factors considered to drive the automotive radiator grilles market. Moreover, increasing competition in the automotive sector owing to increasing population across the globe investing in passenger and commercial vehicles are the factors considered to drive the market growth during the forecast period. Many luxurious vehicle brands including Rolls Royce, BMW, Audi, Bugatti, and others are known for the lavish designing of the grilles. Rolls Royce imports the grilles especially from Switzerland made in their own factory and manually positions the grilles to make sure no imperfections are made in the design. Also, Audi is known for the design of its vertical grille. Audi has patented the design of grilles for approximately 4 billion USD in order to reduce the chances of product counterfeiting. Availability of passenger cars without grilles is the key factor restraining the automotive radiator grilles market growth. Moreover, the preference of middle-class population to buy economically low cost cars is the factor considered to hamper the market growth during the forecast period. Many manufacturers are stressed about developing low-cost plastic molding grilles for the consumers which are the expected opportunity for manufacturers to penetrate the local market across the globe.
Global Automotive Radiator Grilles Market Segment Analysis:
Horizontal Grilles are dominating the Automotive Radiator Grilles Market:
Horizontal grilles are used by many automotive manufacturers owing to the high strength of grilles along with low maintenance cost. Moreover, increasing acceptance of horizontal grilles in passenger cars and commercial vehicles across the globe is the key supporting factor considered to drive the segment growth. Horizontal grilles were accounted for approximately 230 million USD in the year 2019. Moreover, mesh grilles are the second dominating segment in the market owing to smaller vents designing and improving prevention from small rocks and debris entering into the car hood.
Plastic Grilles are boosting the Automotive Radiator Grilles Market Sales:
Stringent norms imposed by governments for automotive weighing and efficiency of the vehicle hence increasing number of manufacturers using low weight material to improve material aesthetics and fuel efficiency improvement are the factors considered to drive the growth of the segment. Plastic grilles were accounted for approximately 150 million USD in the year 2019 owing to the transition made by manufacturers from metal to plastic. Furthermore, the increasing importance of carbon emission reduction is the key factor boosting the segment growth in the market.
OEM holds the largest share in the Automotive Radiator Grilles Market:
According to Automotive Manufacturers Association, OEM holds the largest share in the market with approximately 68% market share owing to the increasing adoption of radiator grilles in the basic designing of vehicles by manufacturers and increasing mergers and acquisition by distributors and retailers with manufacturers in order to improve the sales channel on the domestic levels. Aftermarket holds the second largest share in the market owing to the adoption of E-commerce websites by manufacturers and increasing local network of aftermarkets in the dominant regions of the market.
Impact of COVID pandemic on the Automotive Radiator Grilles market:
COVID pandemic is expected to pose the medium scale impact on the Automotive Radiator Grilles Market owing to the effects of pandemic on manufacturing sector across the globe. Strict government norms and the increasing cost of transportation owing to supply chain distortion and lowering of manufacturing activities are the factors considered to slightly decline the market growth of Automotive Radiator Grilles components. According to Magna International, Automotive Radiator Grilles Market is decreased amid COVID pandemic owing to decreasing economic growth and further deceleration of automotive products manufacturing. Moreover, increasing aesthetic appeal created by grilles and the increasing need for internal cooling of batteries for electric vehicles has created traction in the market. Furthermore, trade treaty between ASEAN countries and EU countries along with GCC countries are increasing the demand for passenger vehicles and commercial vehicles along with sports cars. Furthermore, material handling cost for grille components is lower than any other industrial components in the market. Approximately 3 million units are expected to transport from the APAC region to North American region owing to rescheduling of consignments post-pandemic.
Global Automotive Radiator Grilles Market Regional Insights:
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The Asia Pacific holds the major share in the Automotive Radiator Grilles Market with approximately 43% of total market share in the year 2019 owing to increasing demand for commercial vehicles including SUVs and heavy commercial vehicles in the region. Moreover, increasing population in the regions have boosted the demand for automobiles in the market. China is the dominating market in the region in terms of volume share of approximately 53% as China is the largest automotive components manufacturer across the globe owing to the abundance of manufacturing infrastructure and high transportation capabilities in the Chinese market. Indian market is expected to pose a relatively high share in the market as the abundance of key players in the market are investing dominantly in the region. Europe is the fastest-growing region in the Automotive Radiator Grilles Market with approximately 38% market share. Factors attributing growth in the market are an abundance of key manufacturers of Automotive Radiator Grilles in the region. Germany holds the largest market share of approximately 54% along with UK and Switzerland owing to established infrastructure for automotive components manufacturing and increasing disposable income of consumers. Bugatti and Rolls Royce are the key players in the region for the market. North America holds the dominant share in the market but owing to recent events including a trade war with China and disruptions in the supply chain of the country owing to the COVID pandemic has drastically affected the market.
Global Automotive Radiator Grilles Market Key Players
• Magna International • Toyoda Gosei • Faltec Co. Ltd. • Sakae Riken Kogyo Co. • Samshin Chemicals Co. Ltd. • Plastic Omnium • SRG Global • Lacks Enterprises • TPR Co. Ltd. • JC Sports line Auto parts Ltd. • Chan Mao Technology Ltd. • Unique Auto Parts • Kashyap Polymer and Rubber Udyog • 4S synergies Pvt. Ltd. • Motomax Inc. • Galva Deco parts Pvt. Ltd.Request for Report Discount: https://www.trendsmarketresearch.com/report/discount/13545