The new report by Expert Market Research titled, ‘Global Automotive Radiator Grille Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive radiator grille market, assessing the market based on its segments like product types, material types, vehicle types, sales channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5%
The automotive radiator grille market has a huge potential to grow over the forecast period due to rapidly increasing automotive sales. The growing demand for electric vehicles and the rising demand for vehicles with proper accessories also largely influence the growth of the automotive grille market.
Also, the high per capita income and the rapid development of the automotive industry, and increased vehicle production are other drivers propelling the automotive radiator grille market growth. The advancement of numerous technologies and design aesthetics has significantly aided the industry expansion. The growing popularity of racing and supercars, and the competition that surrounds them, will likely fuel the market expansion.
Industry Definition and Major Segments
The automotive grille acts as a cover for the opening that allows air to enter and exit the vehicle. The automotive grille, which is located in front of the radiator, protects the car from road debris, while also increasing its appearance. Automotive grilles are typically mounted in front of the car to allow unrestricted air access to the radiator, which can help the radiator maintain its temperature more effectively.
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By product type, the market is segmented into:
- Mesh Automotive Grille
- CNC Automotive Grille
- Billet Automotive Grille
By material type, the market is divided into:
- Aluminium
- Stainless Steel
- ABS Plastic
By vehicle type, the market is classified into:
- Passenger Cars
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By sales channel, the market is segmented into:
- OEM
- Aftermarket
On the basis of region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The active participation of new market players has increased established firms’ readiness to offer relatively low costs for high-quality items that attract customers, and the market is expected to grow significantly over the forecast period. The rapid increase in passenger car sales and the growing knowledge of superior performance and the importance of aerodynamics in fuel efficiency will provide the automotive radiator grille industry with numerous potential prospects.
The perceptual advantages offered by radiator grilles and their functional benefits are expected to boost the market growth. Increasing investments for the expansion of production and various technologically innovated vehicles are predicted to aid the market growth.
Key Market Players
The major players in the market are T-Rex Truck Products, Inc., Westin Automotive Products, Inc., HBPO GMBH, SRG Global, Inc., Toyoda Gosei Co. Ltd, and Magna International Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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